Australian terms, economic confidence and Facebook

30 thg 6, 2020

Yesterday, the financial markets were relatively calm. For the panic moods, corresponding dynamics in the number of cases in the world and the USA is needed. And since the beginning of the week in this regard traditionally inspires elements of false hope, the markets were in no hurry to be afraid.

But they did not have special reasons for relief as well. Economic confidence in the Eurozone in June did not justify expert forecasts: The economic confidence index in June is 75.7 with a forecast of 80.0 and a May value of 67.5. This is not much incorporating the fact how much talks were about a quick recovery and fast return to normal.

The pound was under pressure yesterday. The reason is the same - Brexit. Johnson said over the weekend that Britain is ready for trade relations with the EU “on Australian terms” (trading based on standard WTO rules with a number of special agreements for certain goods) if no agreement will be reached.

In general, both sides continue to raise rates. But the time is ticking out. So, the concerns of investors are clear. Even Johnson’s statements about his readiness to actively help the British economy through a sharp increase in government spending on investments for infrastructure projects did not help the pound.

Among the other news, it is worth noting the natural hunting on Facebook, organized by companies around the world. Inadequate Facebook policy in terms of hateful speeches was chosen as a formal reason. Well, in fact, everything is trite: many companies do not have money, and they are forced to save costs. But you can’t admit it out loud, because it is fraught with consequences. Using this scandal, they saved money, and pretended to be socially responsible and generally on the side of the people.