Closing changes for the main European indexes
- German DAX -0.8%
- UK FTSE 100 -1.5%
- French CAC -1.1%
- Spain IBEX -1.2%
- Italy MIB -1.1%
On the week:
- German DAX +3.5%
- UK FTSE 100 -0.25%
- French CAC +1.65%
- Spain IBEX +3.0%
- Italy MIB +3.0%
Forexlive Latest News
Fri 3 Jul 2020 15:22:50 GMT
Fri 3 Jul 2020 15:13:07 GMT
WHO's Ryan: No vaccine is far enough along that there will be a signal of efficacy
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Comments from WHO official Mike Ryan
These aren't the most-cheerful comments.
Fri 3 Jul 2020 14:32:50 GMT
Florida coronavirus cases rise 5.6% vs 5.8% seven-day average
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Florida coronavirus data published July 3, 2020 (date updated as it's reported):
US stock futures dipped on this data and S&P 500 futures are down 20 points. It's slightly below the 7-day average but it's still extreme on its own, at nearly 10000 cases for two days running. Yesterday had looked like a bit of an outlier but if we get another few days near 10K or more, it will look more like a trend.
Fri 3 Jul 2020 14:06:09 GMT
Canadian stocks edge lower with the US closed
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Not much happening north of the border
Canada's TSX is open for trading today but volumes will be light and barring any major surprises, I wouldn't expect much of a move. Today the index is down 0.15%.
Fri 3 Jul 2020 13:03:07 GMT
3
Brazil June Markit services PMI 35.9 vs 27.6 prior
3
Brazil recovers even with the virus raging
We don't normally cover Brazilian data but there's nothing else going on right now and it might offer a baseline for other countries that have tackled infections.
Fri 3 Jul 2020 12:56:02 GMT
Coronavirus continues to simmer in Saudi Arabia
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Saudi Arabia reports 4193 cases vs 3383 yesterday
Early in June there was considerable worry about spiking coronavirus cases in Saudia Arabia. Since then they appear to have blunted the spike but haven't been able to reverse the rise. The 4193 cases today are the eighth worst day for the country.
Fri 3 Jul 2020 12:35:40 GMT
2
ECB's Knot: Structures in Europe are not yet ready for euro bonds
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Comments from Knot
I love the phrasing of this line. It's like the United States of Europe are inevitable in the minds of the elites; it's just a matter of getting the people 'ready' for them. The European leaders are so high-minded about the rest of the world but they would never dream of putting ideas like collective debt to a vote, because they don't really believe in democracy.
Fri 3 Jul 2020 12:26:30 GMT
2
No economic data today, just coronavirus news
2
It's the 4th of July holiday
US markets are closed today for the independence day holiday but S&P 500 mini futures are trading. They're about 3 points below fair value and there isn't much of a signal there.
Fri 3 Jul 2020 11:19:31 GMT
1
ForexLive European FX news wrap: All quiet as the weekend looms
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Forex news from the European trading session - 3 July 2020
Headlines:
Markets:
- NZD leads, GBP lags on the day
- European equities lower; E-minis down 0.1%
Fri 3 Jul 2020 10:46:15 GMT
2
France's Macron appoints Jean Castex as prime minister
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Castex will succeed Eduoard Phillipe, who resigned earlier today
Fri 3 Jul 2020 10:25:57 GMT
3
European equities sag amid quiet trading
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European equities sag amid quiet trading
3
European indices ease further, gradually extending losses on the session
There isn't any fresh catalyst driving the moves here as European equities are sagging amid a more quiet and thinner liquidity session. The DAX is now down by 0.6% with other European indices also seeing similar losses as the risk mood tilts a little to the downside.
Fri 3 Jul 2020 10:21:12 GMT
German chancellor Merkel to meet with Dutch PM Rutte next week
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The meeting is confirmed by a German government spokesperson
The two will be meeting in Berlin on Thursday next week. This is likely to iron out a possible compromise ahead of the EU summit that is due to take place on 17-18 July. Just keep your eyes and ears peeled in case we hear of anything relevant as such.
Fri 3 Jul 2020 09:32:33 GMT
How can a trader save on their trading costs?
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An overview of the costs associated with trading
Many traders forget the fact that becoming
a trader does not always mean a stash of cash. They blatantly ignore the
brokerage fees, commissions and other expenses that accompany opening trading
accounts as well as punctuate the investor experience.
Fri 3 Jul 2020 09:27:14 GMT
ECB split brewing over flexibility of PEPP stimulus - report
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A little storm cloud starting to emerge over the ECB
Citing sources familiar with conversations with ECB officials, this could be the first major disagreement among policymakers that could threaten to undermine the PEPP stimulus in the coming months/quarters.
Fri 3 Jul 2020 09:06:55 GMT
1
AUDUSD upside bias, but low liquidity warrants caution
1
Low liquidity
Looking to trade the AUDUSD
to learn more.
Checkout ForexSource.co
Fri 3 Jul 2020 09:04:49 GMT
What's happening at the start of the trading day?
0
Quiet on a shortened week
Looking to find out what you need to know before each trading day?
to learn more.
Checkout ForexSource.co
Fri 3 Jul 2020 08:42:19 GMT
3
UK PM Johnson on Brexit: We need to get a good deal
3
Comments by UK prime minister, Boris Johnson
- We are not remotely being disrespectful to the EU
- Don't think it is right to proceed by obeying EU rules
- There is a good agreement to be reached
Just some token remarks by Johnson as all of this continues to allude to the fact that both sides are still not seeing eye to eye ahead of more negotiations between this month and September. If you need some reminding, September is supposedly the "hot phase" so expect talks between now and then to be rather insignificant - at least in terms of progress.
Fri 3 Jul 2020 08:30:06 GMT
UK June final services PMI 47.1 vs 47.0 prelim
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Latest data released by Markit/CIPS - 3 July 2020
- Composite PMI 47.7 vs 47.6 prelim
The preliminary report can be found . Little change compared to the initial estimates, as this just reaffirms a modest bounce in UK business activity relative to May and after the historic slump seen back in April.
Fri 3 Jul 2020 08:09:58 GMT
Germany's Merkel: EU recovery fund negotiations are 'rocky'
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Further comments by Merkel
- Time is pressing to reach agreement on EU recovery fund
- The goal is to get an agreement before the summer break
Considering their history of getting things done, it is more likely that this may get postponed beyond the summer than actually seeing a compromise in two weeks' time.
Fri 3 Jul 2020 08:00:03 GMT
Eurozone June final services PMI 48.3 vs 47.3 prelim
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Latest data released by Markit - 3 July 2020
- Composite PMI 48.5 vs 47.5 prelim
The preliminary report can be found . The revision higher is predicated by the better French and German readings earlier as well, but the story remains very much the same.
Fri 3 Jul 2020 07:55:03 GMT
1
Germany June final services PMI 47.3 vs 45.8 prelim
1
Latest data released by Markit/BME - 3 July 2020
- Composite PMI 47.0 vs 45.8 prelim
The preliminary report can be found . A more positive revision relative to initial estimates, as we see the German economy rebound modestly in the month of June following the end of lockdown measures.
Fri 3 Jul 2020 07:50:06 GMT
France June final services PMI 50.7 vs 50.3 prelim
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Latest data released by Markit - 3 July 2020
- Composite PMI 51.7 vs 51.3 prelim
The preliminary report can be found . A slight improvement relative to initial estimates but it doesn't change much of the narrative.
Fri 3 Jul 2020 07:49:55 GMT
China says hasn't discussed itinerary for Xi's visit to Japan
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Don't hold your breath on this one
China has postponed a visit from president Xi Jinping to Japan since the start of last month, as Japan has voiced their displeasure over the Hong Kong national security law.
Fri 3 Jul 2020 07:45:03 GMT
1
Italy June services PMI 46.4 vs 47.0 expected
1
Latest data released by Markit - 3 July 2020
- 28.9
- Composite PMI 47.6 vs 46.9 expected
- Prior 33.9
A modest rebound in business activity in the month of June but once again, the services reading only tells us that firms are reporting better conditions in June relative to May. It doesn't tell us much about the overall situation relative to pre-virus levels.
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