Says that GOP are moving even further in the wrong direction
The battle rages on between US lawmakers on the coronavirus relief plan and Schumer’s remarks above are pretty much the same as what we have heard for over a month now. The clock is ticking as we move further down the fiscal cliff, as time

Latest data released by Challenger, Gray, and Christmas Inc
– 263k
Job cuts by US-based employers fell in August compared to July, but the cumulative count this year sees total layoffs hit 1.963 million – surpassing the previous annual all-time high in 2001 of 1.957 million layoffs.

Thailand sees its first locally transmitted case after 100 days
The new case was confirmed to be an inmate of a prison in Bangkok, shortly after the incarceration took place. The patient’s history showed that he had stayed with his family before being lodged in jail, raising fears that there is a wider spread of the

The dollar is higher once again going into North American trading
The greenback is trading to fresh highs against the yen, pound, loonie, aussie and kiwi as we start to gear towards the US session later today.

JP Morgan analyst, Malcolm Barr, remarks in a research note to clients
The firm says that it would be a surprise if there was enough progress made to bring about an agreement by the end of October, though chances of a no-deal Brexit materialising is about one third in their view:

Forex news from the European trading session – 2 September 2020
Headlines:
– USD leads, AUD and EUR lag on the day
– European equities higher; E-minis up 0.6%

Latest data from the Mortgage Bankers Association for the week ending 28 August 2020
–  -6.5%
– Market index 755.1 vs 770.6 prior
– Refinancing index 3,316.2 vs 3,423.0 prior
A slight drop in mortgage applications in the past week with purchases and refinancing activity both seeing weakening a touch, despite the long-term rate falling another 3 bps to 3.08%

The greenback leads gains in the major currencies space
Stocks are up on the day but the dollar is also up as the pullback momentum from yesterday extends into the new trading day today. The dollar held its ground in early European trading but is gradually pushing higher now as we look towards US trading.

Comments by China’s Cabinet via state media
– Says will not resort to flood-like stimulus
– Will guide more credit to the real economy
This just reaffirms their current policy stance and that hasn’t changed as they continue to deal with the fallout from the virus outbreak. There are some concerns surrounding domestic credit conditions in China but

Richmond Fed president, Thomas Barkin, remarks in a WSJ interview
– Fed will need to continue to provide significant, sustained support
– Economy faces a slowing labour market recovery
The remarks on the slower recovery aren’t anything new but certainly sets up a renewed focus on labour market data, particularly after Powell’s speech from last week.