Comments by the Élysée office
I reckon we may see some compromise eventually, perhaps even by the end of the month. Kicking the can down the road sounds appealing for EU lawmakers, but maybe there’s too much at stake before the summer break.

Latest data from the Mortgage Bankers Association for the week ending 10 July 2020
–  +2.2%
– Market index 815.5 vs 775.9 prior
– Purchase index 305.4 vs 325.2 prior
The rise in the prior week was largely due to a surge in refinancing activity as purchases eased a little after hitting its highest level since 2009. The jump

Confirmation by UK culture minister, Oliver Dowden
But in any case, this will also just heighten tensions between China and the US, UK further.

Comments by French president, Emmanuel Macron

JP Morgan earnings for Q2 are out
I think the large loan loss provision is no surprise considering the economic circumstances, but the general uncertainty of the coronavirus situation will just keep banks/financials pressured in general. Essentially, JP Morgan lives to fight another quarter.

Comments by Brett Giroir, the US assistant secretary for health, to CNBC
When the cases and hospitalisations go up, inevitably the death count will also follow. I reckon what most states would like to avoid would be a triage in terms of healthcare service to the public. That would be an ugly scene to witness for

Forex news from the European trading session – 14 July 2020
Headlines:
Markets:
– EUR leads, GBP lags on the day
– European equities lower; E-minis up 0.3%

China still maintaining a largely similar outlook for the moment
– The situation is still severe at home and abroad
– Will adopt proactive fiscal policy, prudent monetary policy
The comments here aren’t anything new but that in itself is the key takeaway. The fact that Chinese officials aren’t deviating from the recent commentary on the economic outlook

Forex news from the European trading session – 13 July 2020
Headlines:
Markets:
– AUD leads, JPY lags on the day
– European equities higher; E-minis up 0.7%

GBP/USD sees early gains evaporate in fall to just under 1.2600
The pair touched a high of 1.2666 earlier today but has since seen a retreat, after having formed a bit of a triple-top pattern just under the 200-day moving average @ 1.2701.