After seven weeks of lockdown UK gradually lifts lockdown & returns to work. As of Wednesday, the UK recorded 33,186 deaths from COVID-19. Recently a new antibody test has been approved in the UK – the government expects this could be the key to easing the complete lockdown. On Wednesday, the UK government announced 600 million pounds ($735 million) in funding to stop coronavirus infections in nursing homes.
UK economy contracted its biggest fall since the 2008 financial crisis in the January-March period, with March GDP falling by a record pace due to the coronavirus pandemic. The GDP dropped 5.8% in March, the biggest monthly fall since the series began in 1997. While quarterly GDP beat projections, falling by 2% instead of the expected contraction of 2.5%.
Save one life and you are heroes; save one hundred lives then you are nurses. We thank all the nurses who work so hard to keep us safe against Covid-19. Happy International Nurses Day
This week Investors will likely keep a look at the economic releases which includes RBNZ rate decision, UK GDP; US retail sales, Australia employment figures, Eurozone industrial production & GDP etc.
Today the investors and traders will closely watch the release of US monthly jobs report. The NFP report will be released at 12:30 GMT and forecasts point to a record 22 million job losses in April and to record unemployment of 16%. The NFP report gives out the number of paid US workers of any business but excludes government employees, farm employees and non-profit organization employees.