Forex news from the European trading session – 10 June 2020
Headlines:
Markets:
– AUD leads, USD lags on the day
– European equities a little lower; E-minis flat

Latest data from the Mortgage Bankers Association for the week ending 5 June 2020
–  -3.9%
– Market index 784.5 vs 717.7 prior
– Refinancing index 3,529.0 vs 3,166.7 prior

Comments by ECB executive board member, Isabel Schnabel
Nothing that stands out all too much but this just further reaffirms that the ECB will adjust its PEPP stimulus accordingly as it sees fit to manage the economic recovery. While most members are insisting this will be temporary, the fact that the recovery could take a while

Profit taking, FOMC event and poor German trade data hit risk
Markets
The session started very similarly to yesterday as it was another quiet data front. However, the risk tone tilted off at the start of the session and slid quite quickly after .This was the worst decline since 1990 and shows how hard it will be

via Reuters
I came across this article on Reuters and it captures something that many of us instinctively feel – consumers are changing. The question is, will it be a permanent change?

Via Reuters
The coronavirus might have been spreading in China as early as August last year, according to Harvard Medical School.
This was based on research on satellite images of hospital travel patterns and search engine data. However, China has dismissed the report as „ridiculous“.
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Via Reuters  
This is a reaction piece to the poor German trade balance out earlier today.  
See here.
It looks like a hard slog for German trade to bounce back after its latest blow via COVID-19. 

Borrowing costs to be managed
Gov’ts around the world are now massively ramping up their levels of borrowing to manage the COVID-19 crisis. This borrowing is going to extend beyond the short ends of the yield curves, so central banks are not going to want to see borrowing costs for 10 years and beyond start moving

European FX news 
– Post-links Paragraph Text Here, don’t forget an image.
Markets: 
The markets have taken an understandable breather post NFP and ahead of the FOMC on Wednesday. Will the Fed attempt yield curve control to keep borrowing costs down for companies or with they allow the Treasury spike to potentially move higher? That will be the

Via Reuters 
Roughly 15% of workforce. Most of these job cuts to be by year end.
 Sad news. 
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