Via Reuters
One for the fact box. 
Gold etf’s so popular they now surpass Germany’s official reserve levels. 
All together now, on behalf of Germany, 

Forex news for North American trading on August 7, 2020:
Markets:
– Gold down $32 to $2031
– WTI crude down 43-cents to $42.52
– US 10-year yields up 2.8 bps to 0.564%
The July non-farm  payrolls report was better than expected, even with you adjusted for some  seasonal quirks. The data led to a round of US dollar gains

Comments from Mnuchin
Reports say they’re something like $1 trillion apart on state/local funds. It’s a bit puzzling why Republican governors are so against this money. Instead, they’re going to have to drastically reduce services and cut workers. I don’t know in which world that’s a popular move. Or maybe that’s where the White House will

Weekly FX speculative positioning data from the CFTC.
– EUR long 180K vs 157K long last week. Longs increased by 23K
– GBP short 15K vs 25K short last week. Shorts trimmed by 10K

NASDAQ 7-day win streak broken today
A look at the final numbers shows:
The Dow had his best week since June 5.. The S&P index at its best week since July 2.

Comments from Pelosi
Question to Pelosi: „What’s next“
Pelosi: „Perhaps you missed what I said — I said, `come back when you’re ready to give us a higher number.'“

Der Spiegel reports, citing a video call between senior government officials
The report says that the government plans to bring forward stimulus spending worth €16 billion for a total of €26 billion. This compares with the previous plan to speed up only €10 billion in investment in digital, security and defense projects.

Forex news from the European trading session – 7 August 2020
Headlines:
Markets:
– USD leads, NZD lags on the day
– European equities mixed; E-minis down 0.4%

The market is keeping a watchful eye ahead of the US jobs report later
There is a lot of focus on the US non-farm payrolls later today, as market participants are in search of more clues on how the rise in coronavirus cases across the US is impacting the labour market. At this point, it feels

Further comments by Ramsden
The BOE published a box on negative rates in its yesterday – the first time it has done so – and that is inviting market participants to get used to the idea that policymakers are almost likely to pursue such a measure if the economic recovery falters.