Forex news from the European trading session – 6 August 2020
Headlines:
Markets:
– GBP leads, CAD lags on the day
– European equities lower; E-minis down 0.2%

Latest data released by Challenger, Gray, and Christmas Inc
– 170k
US-based employers announced another 262,649 job cuts in July and this does provide some indication that perhaps the labour market recovery is losing some steam as demand conditions continue to suffer across the country.

European equities and US futures fall to session lows
European indices are extending declines with the DAX now down by over 0.8%. Meanwhile, US futures are down by ~0.3% as well and are off levels earlier in the session.

The firm revises their euro forecast from 1.17 to 1.20
On the revision, they argue that the dollar is likely to decline further on the back of uncertanties surrounding the US‘ fiscal stance.

Comments by German health minister, Jens Spahn
– But does not think have to comprehensively close shops again
– May have to re-look at what kind of events/celebrations can take place
Germany reported 1,045 new virus cases today – the first time that the daily count exceeded 1,000 since early May – and that is raising some fear