JP Morgan earnings for Q2 are out
I think the large loan loss provision is no surprise considering the economic circumstances, but the general uncertainty of the coronavirus situation will just keep banks/financials pressured in general. Essentially, JP Morgan lives to fight another quarter.

Comments by Brett Giroir, the US assistant secretary for health, to CNBC
When the cases and hospitalisations go up, inevitably the death count will also follow. I reckon what most states would like to avoid would be a triage in terms of healthcare service to the public. That would be an ugly scene to witness for

Forex news from the European trading session – 14 July 2020
Headlines:
Markets:
– EUR leads, GBP lags on the day
– European equities lower; E-minis up 0.3%

China still maintaining a largely similar outlook for the moment
– The situation is still severe at home and abroad
– Will adopt proactive fiscal policy, prudent monetary policy
The comments here aren’t anything new but that in itself is the key takeaway. The fact that Chinese officials aren’t deviating from the recent commentary on the economic outlook

Forex news from the European trading session – 13 July 2020
Headlines:
Markets:
– AUD leads, JPY lags on the day
– European equities higher; E-minis up 0.7%

Comments by UK prime minister, Boris Johnson
– We have got the virus under control across the country
– It is very important to wear a face covering in shops
Judging by recent remarks by the government, it is only a matter of time now before masks are surely going to be mandatory in shops across the UK.

GBP/USD sees early gains evaporate in fall to just under 1.2600
The pair touched a high of 1.2666 earlier today but has since seen a retreat, after having formed a bit of a triple-top pattern just under the 200-day moving average @ 1.2701.

China’s ministry of foreign affairs issues a statement via its Wechat account
The statement advises citizens to exercise caution when travelling to Australia, citing racism, violence and anti-Chinese sentiment being stirred up by the Australian media.

Number 1 already
One very key area of trading to get straight in your mind is the incredible importance of the USD. For many retail traders FX pairs are initially seen as equal players on the stage. However, they are far from equal and one currency that tops them all is the USD. More than 70%

Weekly FX speculative positioning data from the CFTC:
The timing on trimming the CAD shorts was sub-optimal with the pair lagging this week.