Elon Musk warns of recession [Video comment]

Weaker ADP report and the situation on the charts meant that the last days of the last week - despite ultimately strong data from the US labor market - were marked by weaker investor sentiment.

Monday morning brings some improvement, due to positive news from Beijing, where the easing of further restrictions related to the coronavirus has begun. 390 thousand new jobs in the US non-farm sector mean that the Fed has no reason to move off the path of interest rate hikes. On the other hand, Elon Musk warns against recession announcing employment cutsand the slogan "employment freeze" is gaining ground in the American press.

The economic outlook is certainly not helped by the vision of more expensive crude oil - although the EU embargo on Russian oil has little effect, OPEC + is reluctant to increase production.

Increases in the indices

We invite you to a webinar with the Chief Economist XTB Przemysław Kwiecień, PhD, in which he will answer the title question - is there a global recession?

In today's webinar:

• How long will the increases in the indices take?
• Czy EBC will raise interest rates this week?
• What's next with prices oil?

WATCH ON-LINE

In addition, due to the very dynamic situation in the world, additional ones will be made available raports Video on the impact of the coronavirus on the global economy, market analysis precious metals.

About the host

Dr Przemysław Kwiecień - Chief economist X-Trade Brokers. Doctor of Economics at the University of Warsaw, graduate of the University of Warsaw and London Metropolitan University (MSc). Holder of the prestigious CFA certificate. He has been working for XTB since 2007, previously he gained experience as an advisor to the Minister of Finance, Mirosław Gronicki, and an economist at Bank Millennium. At XTB, he manages the Analysis Department.

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