Forex news for North American trade on July 3, 2020:
- US virus cases up 2.1% vs 2.1% a day earlier
- Florida coronavirus cases rise 5.6% vs 5.8% seven-day average
- California reports 8045 coronavirus cases vs 4056 yesterday
- US CDC reports 53,301 coronavirus cases yesterday vs 54,357 a day earlier
- Alabama coronavirus cases rise by a record 1754
- WHO official highlights virus mutation to make it more infectious
- Arizona coronavirus cases 4433 vs 3333 yesterday
- WHO's Ryan: No vaccine is far enough along that there will be a signal of efficacy
- Brazil June Markit services PMI 35.9 vs 27.6 prior
- ECB's Knot: Structures in Europe are not yet ready for euro bonds
Markets:
- Gold up $2 to 1777
- WTI crude oil down 33-cents to $40.32
- Toronto's TSX Composite down 0.24%
- AUD leads, JPY lags
The US was closed for a holiday and Canada didn't bring any news or market moves to the table. Overall it was a typical July 4 holiday trading day in a non-typical year.
The one headline that got the market's attention was the virus data from Florida. It was the second day of cases near 10,000 and the positivity rate remains close to 15%. That hurt risk trades and led to a quick dip in S&P 500 futures, which finished 4 points lower.
In terms of FX, there wasn't much to get excited about but the Australian dollar put in a decent day to lead the way with a 16 pip gain; the kiwi wasn't far behind.
Happy 4th of July to all our America readers! Have a great weekend.
