Forex news from the European trading session – 29 June 2020
Headlines:
Markets:
– EUR leads, USD and JPY lag
– European equities higher; E-minis up 0.4%
– US 10-year yields up 0.6 bps to 0.648%

Latest data released by Destatis – 29 June 2020
– +0.6%
– CPI +0.6% vs +0.3% m/m expected
– Prior -0.1%
The state readings earlier provided a slight upside bias going into the release and the figures here pretty much confirms it. Price pressures improved modestly in the month of June and that is a positive takeaway at

The market continues to chop around ahead of US trading once again
The last few sessions (⬆) have seen more choppy price action in risk in European morning trade and today is no different. Stocks began with a more tepid now before inching slightly higher in the opening hour, then back lower and now back higher again.

Beaches in Miami, Fort Lauderdale, and Palm Beach will be closed for the 4th of July weekend
Palm Beach mayor, Dave Kenner, also said that he will be issuing an order to close beaches under his jurisdiction going into the national holiday weekend.

The official PMIs are due on Tuesday, see post (or at the bottom of this post) for priors and expected. 
here
Later in the week, Wednesday and Friday, are the private survey PMIs, Caixin/Markit.

I’ll have more to come on these in the daily data calendar heads up, a quick heads up here.
Monday
– Australian  Bureau of Statistics (ABS) latest weekly „Household Impacts of COVID-19 Survey.“
Tuesday

Nikkei with the report that biotech venture AnGes will ready production capacity for 1 million doses of COVID19 vaccines by March
They also say, and this is key (!): 

China’s industrial profits fell in Q1 and started to be not so bad through March and April as the economy crawled toward recovery.
– May comes in at +6.0% y/y from -4.3% in April

Forex futures positioning data for the week ending June 24, 2020:
There were big moves in the euro and Australian dollar last week. It’s interesting to note that AUD was the best performer this week, so cutting shorts was the right move for specs.

Rough day for equities
On the week:
Despite the drama, it was an inside-week in the S&P 500: