Covid-19 Daily Dashboard – 15 May 2020
An overview of key economic and financial metrics.
1 minute to read
Currency
Sterling remains at $1.22 and the euro $1.08. According to the FT, a contributing factor to a moderately weaker sterling are reports of limited progress of Brexit negotiations, ahead of a key deadline in June.
Baltic Dry
The Baltic Dry index declined for the 17th consecutive session, falling a further -1.3% to $393. Analysts at Intermodal expect the Baltic Dry to remain subdued as the summer months are typically slower.
Oil
Following estimates by the International Energy Agency (IEA) that oil supply could fall to a nine-year low this month, Brent Crude has risen 4.0% to $32.38 and the West Texas Intermediate (WTI) has increased by 2.7% to $28.31.
Europe
Slovenia has become the first country in Europe to declare an official end to its epidemic. The EU has issued guidance for a phased approach to re-opening the Schengen zone, starting with seasonal workers. From today, arrivals into Spain will require a 14 day quarantine, while Austria and Germany have become the latest EU countries to agree the removal of travel restrictions.
US Unemployment
Unemployment applications increased by 3 million in the week to May 9th , the lowest increase since March, but above expectations of 2.5 million. applied for jobless benefits for the first time last week, higher than expectations. The total number of US jobless claims has increased by 36.5 million over the past 8-weeks, amounting to almost one quarter of the working age population.
UK Finances
The OBR has updated its estimate of UK public sector net borrowing to £298.4 billion for the financial year 2020-21. This is 89% higher than the previous high of £158.3 billion for the financial year of 2009-10.
Download an overview of key economic and financial metrics relating to Covid-19 on 15 May 2020.