Some key developments yet to play out in the trading day ahead
Gold and silver aren’t doing much and equities are pretty much stalled as we wait on the Fed for more clues in the day ahead. So, what are the things to watch out for?

Fauci says that he has not misled the public under any circumstances
This comes after Trump retweeted posts yesterday calling Fauci a fraud and that he has misled the public on the whole virus situation.

Forex news from the European trading session – 28 July 2020
Headlines:
Markets:
– CHF leads, NZD lags on the day
– European equities lower; E-minis down 0.3%

UK think tank, NIESR, comments on the UK economy
For now, a lot about UK economic data – especially in relation to the labour market – is largely masked by the fact that the government’s furlough program is in place.

Johnson throwing some coronavirus shade at other European nations
– We had to take swift, decisive action on Spain quarantine decision
– We will continue to take action where it is necessary
Well, the situation in the UK may be a bit calmer for now but as the economy reopens you can sort of bet that the odds

Latest data released by CBI – 28 July 2020
That said, there are concerning details despite the headline beat with a wave of layoffs being seen across the retail sector and year-on-year sales growth was modest at best.

GBP/USD climbs to a fresh session high of 1.2869
The dollar is slipping further on the session now as we see the likes of EUR/USD approach 1.1730 and USD/JPY fall to a low of 107.25. Adding to that, cable is also extending gains to fresh highs on the session of 1.2869.

Gold hits an all-time high, silver is surging, the dollar is sinking across the board, and Bitcoin is back above $10,000
Meanwhile, the bond market continues to send ominous signals with 10-year Treasury yields hovering close to the lower bound of its recent range near 0.54% to 0.56%.

Forex news from the European trading session – 27 July 2020
Headlines:
Markets:
– JPY leads, CHF lags on the day
– European equities mixed; E-minis up 0.4%

A total of 145 new cases were reported today, of which 142 are from locally transmitted infections
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