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.

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%

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%.

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

EUR/USD is on the hunt for a seventh straight day of gains
Dollar weakness is part of the story driving the upside momentum, but the euro itself has been on a solid run this month as the single currency is also benefiting from the calmer mood in the euro area bond market on the fiscal response

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