The market calendar picks up again this week and the primary focus will no doubt be the May employment report (Friday). Economists expect nonfarm payrolls to decline by 6.1 million (vs. -20.5 million previously), which should raise the unemployment rate to a new post-WWII high of 19.1% (vs. 14.7%).
Yen and Swiss Franc surge broadly today as risk aversion seems to be back as May starts. Warnings from Amazon and Apple are cited as the reason for the decline in US futures. On the other hand, Chinese is trading sharply lower on concerns that US President Donald Trump would step up tariffs wars wit