A little storm cloud starting to emerge over the ECB
Citing sources familiar with conversations with ECB officials, this could be the first major disagreement among policymakers that could threaten to undermine the PEPP stimulus in the coming months/quarters.

The meeting is confirmed by a German government spokesperson
The two will be meeting in Berlin on Thursday next week. This is likely to iron out a possible compromise ahead of the EU summit that is due to take place on 17-18 July. Just keep your eyes and ears peeled in case we hear of anything

Fox News reports on the matter
It is said that the state department will send a letter to trade associations, CEOs, and company boards warning about conducting business with China.

Russian energy minister, Alexander Novak, comments
– OPEC+ has shown efficiency amid current market volatility
– It would be good if we changed our decisions as little as possible for several months
Russia continues to play it coy with the current agreement only to last through July at the moment. At the end of the day, it will

UK prime minister, Boris Johnson, remarks in the Evening Standard
The current scheme will run through until October and the government has been firm that it will not be extended beyond that.

Forex news from the European trading session – 2 July 2020
Headlines:
Markets:
– NZD leads, CAD lags on the day
– European equities higher; E-minis up 0.8%

European equities and US futures are higher as focus turns towards the non-farm payrolls report later today
European equities are maintaining gains of over 1% for the most part, with the DAX up by 1.6% currently as investors are keeping more optimistic to start the day. The UK FTSE is lagging a little – due to

That isn’t comforting news for the euro
Merkel also adds that the EU „must be prepared for Brexit talks to end in failure“.
For EUR/USD, support at around 1.1191-00 remains a crucial spot as it has been since 25 June. Break below that and sellers may look towards the low @ 1.1168 next.

European equities down to session lows now
As stocks came back online in European trading earlier, equities tracked lower but have accelerated losses in the past half-hour with the DAX now seen down by 1.5%.

Latest data from the Mortgage Bankers Association for the week ending 26 June 2020
–  -8.7%
– Market index 758.9 vs 77.31 prior
– Purchase index 308.7 vs 312.7 prior
Mortgage activity moderates a little further towards the end of June, with purchases seen slipping a little but still keeping at relatively robust levels. Amid the coronavirus situation starting