Russia’s Novak: There’s no decision yet to extend OPEC+ oil output cuts deal 0 (0)

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

Go to Forexlive

Risk stays more positive ahead of North American trading 0 (0)

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

Go to Forexlive

Germany’s Merkel: EU members still far apart on recovery fund, budget 0 (0)

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.

Go to Forexlive

US MBA mortgage applications w.e. 26 June -1.8% vs -8.7% prior 0 (0)

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

Go to Forexlive

French banks reportedly lobbying to convince ECB to permit dividend payments in Q4 0 (0)

Bloomberg reports, citing people familiar with the matter
The sources say that they are trying to convince the ECB to permit payouts in Q4, and that some ECB supervisory board members are sympathetic so much so to allow banks to possibly make small payments this year on a case-to-case basis.

Go to Forexlive