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Author: Justin Low

A mildly positive day for Japanese stocks

Nikkei 02-07
The Nikkei is closing a little higher, backing away from earlier gains amid a more tepid trading session in general for Japanese stocks.

Asian equities are performing better in general though, following the gains from Wall Street in overnight trading. The Hang Seng and Shanghai Composite are both up 1.5% as we get into the closing stages of the session.

Elsewhere, US futures are keeping mildly higher with E-minis up 0.1% currently.

The market mood is still keeping at some optimism, with the dollar also seen slightly weaker as we look to get into European morning trade. EUR/USD is a tad higher at 1.1267 but still within a 20 pips range today while NZD/USD is up by 0.3% near 0.6500.

All eyes will be on the US jobs report later today though, so that may keep investors more cautious in the European session ahead.
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Thu 2 Jul 2020 05:59:48 GMT

French health minister says that the virus is under control

Comments by French health minister, Olivier Véran - France has identified, contained any new virus clusters - But reopening of night clubs remain problematic The comments come despite from 541 new cases in the day before. But the overall situation is much improved compared to what we have seen back in April to May so that's a positive development at least.

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French health minister says that the virus is under control


//az705044.vo.msecnd.net/20200314/france.png Justin Low
Thu 2 Jul 2020 05:59:48 GMT
Author: Justin Low
Category: News
0


Comments by French health minister, Olivier Véran - France has identified, contained any new virus clusters - But reopening of night clubs remain problematic The comments come despite from 541 new cases in the day before. But the overall situation is much improved compared to what we have seen back in April to May so that's a positive development at least.

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Thu 2 Jul 2020 05:43:53 GMT

Dutch PM Rutte: Negotiations on EU recovery fund will take time but compromise is possible

Comments by Dutch prime minister, Mark Rutte The mention of compromise is a positive takeaway but I reckon that we'll only get a better idea of how serious the "frugals" are willing to accommodate the current proposal the closer we get to the summit on 17-18 July.

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Dutch PM Rutte: Negotiations on EU recovery fund will take time but compromise is possible


Justin Low
Thu 2 Jul 2020 05:43:53 GMT
Author: Justin Low
Category: News
0
Comments by Dutch prime minister, Mark Rutte The mention of compromise is a positive takeaway but I reckon that we'll only get a better idea of how serious the "frugals" are willing to accommodate the current proposal the closer we get to the summit on 17-18 July.

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Thu 2 Jul 2020 05:30:35 GMT

Trade ideas thread - European session 2 July 2020

Daily thread to exchange ideas and to share your thoughts Major currencies are little changed overall though, with ranges still keeping tighter for the most part. The loonie lags a little bit on the day but nothing too major as oil prices are keeping closer to flat levels just under $40 still.

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Trade ideas thread - European session 2 July 2020


//az705044.vo.msecnd.net/20200702/7-2-2020-1-21-35-pm.png Justin Low
Thu 2 Jul 2020 05:30:35 GMT
Author: Justin Low
Category: News
0
Daily thread to exchange ideas and to share your thoughts Major currencies are little changed overall though, with ranges still keeping tighter for the most part. The loonie lags a little bit on the day but nothing too major as oil prices are keeping closer to flat levels just under $40 still.

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Thu 2 Jul 2020 05:19:26 GMT

Tokyo to set up virus task force as daily infections hit its highest count in two months

Tokyo reports 107 new coronavirus cases today Tokyo governor, Yuriko Koike, will address the press later but the government has said that they will be setting up a virus task force to try and deal with the situation amid some reports that the origins of the outbreak were unable to be traced.

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Tokyo to set up virus task force as daily infections hit its highest count in two months


//az705044.vo.msecnd.net/20200702/7-2-2020-1-15-51-pm.png Justin Low
Thu 2 Jul 2020 05:19:26 GMT
Author: Justin Low
Category: News
0
Tokyo reports 107 new coronavirus cases today Tokyo governor, Yuriko Koike, will address the press later but the government has said that they will be setting up a virus task force to try and deal with the situation amid some reports that the origins of the outbreak were unable to be traced.

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Thu 2 Jul 2020 05:05:52 GMT

Latest coronavirus developments: The good, the bad, the ugly

How is the coronavirus situation shaping up to be at the moment? The good It seems like vaccine talk - or any news that presents thing as the glass being half-full - is the only thing that matters most to investors these days. And I reckon that says a lot about what the bias in the market currently is.

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Latest coronavirus developments: The good, the bad, the ugly


//az705044.vo.msecnd.net/20200702/7-2-2020-12-20-00-pm.png Justin Low
Thu 2 Jul 2020 05:05:52 GMT
Author: Justin Low
Category: News
0
How is the coronavirus situation shaping up to be at the moment? The good It seems like vaccine talk - or any news that presents thing as the glass being half-full - is the only thing that matters most to investors these days. And I reckon that says a lot about what the bias in the market currently is.

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Thu 2 Jul 2020 04:22:02 GMT

Economic data coming up in the European session

All eyes will be on the US non-farm payrolls report later today The dollar was weaker for the most part and we even saw cable run above its 100-day moving average and back towards 1.2500.

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Economic data coming up in the European session


Justin Low
Thu 2 Jul 2020 04:22:02 GMT
Author: Justin Low
Category: News
0
All eyes will be on the US non-farm payrolls report later today The dollar was weaker for the most part and we even saw cable run above its 100-day moving average and back towards 1.2500.

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Thu 2 Jul 2020 04:04:07 GMT

Fed's Bullard: We're still in the middle of the crisis here

St Louis Fed president, James Bullard, comments in an interview with the FT - The risk of a financial crisis remains - Without managing health policy, we could get a wave of substantial bankruptcies There isn't much takeaway from his comments but it mainly reaffirms that the current set of Fed policies will stay in place for quite some time until they are comfortable that we may not see a repeat of what happened back in March.

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Fed's Bullard: We're still in the middle of the crisis here


//az705044.vo.msecnd.net/20151207/bullard-wrong.png Justin Low
Thu 2 Jul 2020 04:04:07 GMT
Author: Justin Low
Category: Central Banks
0
St Louis Fed president, James Bullard, comments in an interview with the FT - The risk of a financial crisis remains - Without managing health policy, we could get a wave of substantial bankruptcies There isn't much takeaway from his comments but it mainly reaffirms that the current set of Fed policies will stay in place for quite some time until they are comfortable that we may not see a repeat of what happened back in March.

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Thu 2 Jul 2020 03:51:19 GMT

Euro outlook - "more attractive and cheap against the likes of the dollar"

MUFG are seeing imporovement in Europe (relatively:

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Euro outlook - "more attractive and cheap against the likes of the dollar"


Eamonn Sheridan
Thu 2 Jul 2020 03:51:19 GMT
Category: News
0
MUFG are seeing imporovement in Europe (relatively:

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Thu 2 Jul 2020 03:42:16 GMT

New coronavirus cases in Tokyo up over 100 on the day

COVID-19 infections back on the rise in Tokyo  Not good news.   A second wave in a city in Australia also. These are tiny in comparison to the epic scale of infection sweeping the US, but still, not positive. 

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New coronavirus cases in Tokyo up over 100 on the day


Eamonn Sheridan
Thu 2 Jul 2020 03:42:16 GMT
Category: News
0
COVID-19 infections back on the rise in Tokyo  Not good news.   A second wave in a city in Australia also. These are tiny in comparison to the epic scale of infection sweeping the US, but still, not positive. 

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Thu 2 Jul 2020 03:19:52 GMT

Goldman Sachs forecast a 4.25m NFP headline, unemployment at 12.7%

Earlier preview here: - U A little more, this via Merrill Lynch:

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Goldman Sachs forecast a 4.25m NFP headline, unemployment at 12.7%


Eamonn Sheridan
Thu 2 Jul 2020 03:19:52 GMT
Category: News
0
Earlier preview here: - U A little more, this via Merrill Lynch:

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Thu 2 Jul 2020 02:53:43 GMT

ForexLive Asia FX news wrap: Pre-NFP session in Asia

Forex news for Asia trading Thursday 2 July 2020  The session began with some small losses for the USD, emphasis on small, with AUD, NZD, GBP and even EUR up just a little. CAD was a laggard, well it was a loser, falling some against the USD. Yen lost against the dollar also. 

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ForexLive Asia FX news wrap: Pre-NFP session in Asia


https://az705044.vo.msecnd.net/20200702/nzd-wrap-02-july-2020.png Eamonn Sheridan
Thu 2 Jul 2020 02:53:43 GMT
Category: News
0
Forex news for Asia trading Thursday 2 July 2020  The session began with some small losses for the USD, emphasis on small, with AUD, NZD, GBP and even EUR up just a little. CAD was a laggard, well it was a loser, falling some against the USD. Yen lost against the dollar also. 

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Thu 2 Jul 2020 02:29:47 GMT

Its US NFP day (a day early due to holiday Friday) - nonfarm payroll preview

US NFP is due at 1230GMTon Thursday 2 July 2020   What to expect preview via TD, in brief: And, Scotia, forecast is also +4m - b

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Its US NFP day (a day early due to holiday Friday) - nonfarm payroll preview


Eamonn Sheridan
Thu 2 Jul 2020 02:29:47 GMT
Category: News
0
US NFP is due at 1230GMTon Thursday 2 July 2020   What to expect preview via TD, in brief: And, Scotia, forecast is also +4m - b

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Thu 2 Jul 2020 02:01:45 GMT

Australian PM Morrison says considering making Australia a safe haven for Hong Kong

China will not be happy with this. AUD getting a push lower  No further details on what this would mean, something like what the UK has doen, I don't know:

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Australian PM Morrison says considering making Australia a safe haven for Hong Kong


Eamonn Sheridan
Thu 2 Jul 2020 02:01:45 GMT
Category: News
0
China will not be happy with this. AUD getting a push lower  No further details on what this would mean, something like what the UK has doen, I don't know:

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Thu 2 Jul 2020 01:57:00 GMT

JP Morgan with 3 reasons the US S&P is going higher

A note from earlier in the week via JPM on US equities, saying to stay  bullish on stocks over the short to medium term. 3 reasons: 1. Positioning remains light around macro and systematic investors.

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JP Morgan with 3 reasons the US S&P is going higher


Eamonn Sheridan
Thu 2 Jul 2020 01:57:00 GMT
Category: News
0
A note from earlier in the week via JPM on US equities, saying to stay  bullish on stocks over the short to medium term. 3 reasons: 1. Positioning remains light around macro and systematic investors.

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Thu 2 Jul 2020 01:31:03 GMT

Australia trade balance for May: AUD +8.025 bn (expected AUD +9bn)

AUD 8.025bn surplus - expected AUD 9bn surplus - prior AUD surplus revised to 7.83bn - exports expected -7% m/m, prior -11% - imports expected -9% m/m, prior -10% AUD is trading a little higher ion the session, barely perturbed by this data release. EUR, GBP, NZD all higher also. 

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Australia trade balance for May: AUD +8.025 bn (expected AUD +9bn)


Eamonn Sheridan
Thu 2 Jul 2020 01:31:03 GMT
Category: News
0
AUD 8.025bn surplus - expected AUD 9bn surplus - prior AUD surplus revised to 7.83bn - exports expected -7% m/m, prior -11% - imports expected -9% m/m, prior -10% AUD is trading a little higher ion the session, barely perturbed by this data release. EUR, GBP, NZD all higher also. 

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Thu 2 Jul 2020 01:15:40 GMT

PBOC sets USD/ CNY reference rate for today at 7.0566 (vs. yesterday at 7.0710)

People's Bank of China  PBOC to skip OMOS today - 70bn in reverse repos mature, thus a net drain of that amount. 

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PBOC sets USD/ CNY reference rate for today at 7.0566 (vs. yesterday at 7.0710)


Eamonn Sheridan
Thu 2 Jul 2020 01:15:40 GMT
Category: Central Banks
0
People's Bank of China  PBOC to skip OMOS today - 70bn in reverse repos mature, thus a net drain of that amount. 

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Thu 2 Jul 2020 01:15:23 GMT

FX option expiries for Thursday July 02 at the 10am NY cut

EUR/USD  USD/JPY  GBP/USD  AUD/USD  USD/CAD

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FX option expiries for Thursday July 02 at the 10am NY cut


Eamonn Sheridan
Thu 2 Jul 2020 01:15:23 GMT
Category: Forex Orders
0
EUR/USD  USD/JPY  GBP/USD  AUD/USD  USD/CAD

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Thu 2 Jul 2020 01:11:05 GMT

Australia - coronavirus cases rise again, +77 in state of Victoria

Victoria, more accurately its capital city of Melbourne (cough), is Australia's COVID-19 hotspot - 20 in hospital now - 4 in ICU (up from 2 yesterday) Other states in Australia are extending border closures for people from the state, or affected areas in Melbourne. 

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Australia - coronavirus cases rise again, +77 in state of Victoria


Eamonn Sheridan
Thu 2 Jul 2020 01:11:05 GMT
Category: News
0
Victoria, more accurately its capital city of Melbourne (cough), is Australia's COVID-19 hotspot - 20 in hospital now - 4 in ICU (up from 2 yesterday) Other states in Australia are extending border closures for people from the state, or affected areas in Melbourne. 

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Thu 2 Jul 2020 00:27:44 GMT

US coronavirus cases up more than 48,000 the past day

Reuters tally says more 48,000 new cases. That would be a new daily record. - John Hopkins Uni tally puts the number above 46,800 Arizona, California, Texas and Florida are leading the increases, these the worst of the hotspot states

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US coronavirus cases up more than 48,000 the past day


Eamonn Sheridan
Thu 2 Jul 2020 00:27:44 GMT
Category: News
0
Reuters tally says more 48,000 new cases. That would be a new daily record. - John Hopkins Uni tally puts the number above 46,800 Arizona, California, Texas and Florida are leading the increases, these the worst of the hotspot states

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Thu 2 Jul 2020 00:11:12 GMT

USD overvalued, no reason to rise - to come down on approach to US election

Some comments on the USD collated by Reuters  NAB: I bolded some of the above, pretty good summary of what to watch. 

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USD overvalued, no reason to rise - to come down on approach to US election


Eamonn Sheridan
Thu 2 Jul 2020 00:11:12 GMT
Category: News
0
Some comments on the USD collated by Reuters  NAB: I bolded some of the above, pretty good summary of what to watch. 

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Wed 1 Jul 2020 23:59:37 GMT

ICYMI: Japanese University says its isolated a silkworm protein which could be coronavirus vaccine

The race to get a COVID-19 vaccine continues, this item in Japanese media about a university partnering with a startup  - has isolated a protein from silkworms Right. I wish them well, but this sounds very speculative at this stage. 

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ICYMI: Japanese University says its isolated a silkworm protein which could be coronavirus vaccine


https://az705044.vo.msecnd.net/20200701/silkworm.png Eamonn Sheridan
Wed 1 Jul 2020 23:59:37 GMT
Category: News
0
The race to get a COVID-19 vaccine continues, this item in Japanese media about a university partnering with a startup  - has isolated a protein from silkworms Right. I wish them well, but this sounds very speculative at this stage. 

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Wed 1 Jul 2020 23:38:24 GMT

Bank of America indicator says stocks to go higher , +11% in the next 12 months

Via a note from BoA Wednesday US time Bank of America's "Sell Side Indicator" up to 55.8% from 54.9% in June - the reading implies an 11% return for the S&P 500 over the next 12 months ---

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Bank of America indicator says stocks to go higher , +11% in the next 12 months


https://az705044.vo.msecnd.net/20200701/trump.png Eamonn Sheridan
Wed 1 Jul 2020 23:38:24 GMT
Category: News
0
Via a note from BoA Wednesday US time Bank of America's "Sell Side Indicator" up to 55.8% from 54.9% in June - the reading implies an 11% return for the S&P 500 over the next 12 months ---

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Wed 1 Jul 2020 23:24:19 GMT

Trump says he likes masks - on wearing one: “It looked like the Lone Ranger”

Trump is getting close to outing himself as a mask wearer. From a Fox interview: I am awaiting the first public photo, until then:

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Trump says he likes masks - on wearing one: “It looked like the Lone Ranger”


https://az705044.vo.msecnd.net/20200402/burka-trump.png Eamonn Sheridan
Wed 1 Jul 2020 23:24:19 GMT
Category: News
0
Trump is getting close to outing himself as a mask wearer. From a Fox interview: I am awaiting the first public photo, until then:

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Wed 1 Jul 2020 23:09:31 GMT

Goldman Sachs expect the oil price to continue higher into 2021

Crude outlook for the months ahead from GS, their forecast is for Brent to average $55/bbl by next year. - GS cite demand to increase for gasoline and other fuels as reopenings increase around the world. GS do add that further outbreaks of cov1 COVID-19 are a risk to this.

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Goldman Sachs expect the oil price to continue higher into 2021


Eamonn Sheridan
Wed 1 Jul 2020 23:09:31 GMT
Category: News
0
Crude outlook for the months ahead from GS, their forecast is for Brent to average $55/bbl by next year. - GS cite demand to increase for gasoline and other fuels as reopenings increase around the world. GS do add that further outbreaks of cov1 COVID-19 are a risk to this.

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