European Indices rebounded from yesterday’s sell-off to surge following better than expected PMI data from Germany, the Euro-Zone and the UK. Consumer Confidence also rebounded from a nine-year low in May. Meanwhile, the UK Auto-Industry was said to have asked for a bailout package to protect jobs and kickstart a recovery as Prime Minister Johnson announced the re-opening of pubs and a reduction in the Social Distancing 2 metre rule. The DAX led the European markets higher with a gain of 2.13%. US Indices rose on optimism surrounding a trade deal with China. However, despite the S&P closing 0.4% higher its was near the lows of the day. So far, the rare Island Reversal is holding both the Dow and S&P while the NASDAQ rose for the eight- straight session. Markets fell from intra-day highs after the U.S Infectious Disease Doctor warned that the Coronavirus was not taking a summer break and was hopeful we will have a vaccine by early 2021. Elsewhere Treasuries closed flat while the US Dollar again weakened. Gold closed at its highest level since 2012 while Crude fell 1.2%. Bitcoin rose 0.78%, following on from Monday’s reports that PayPal would soon allow the buying and selling of Cryptocurrencies.
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