The firm argues that the euro’s upside potential remains intact
Nomura says that while ECB policymakers expressing concern about euro strength may put short-term downward pressure on the currency, it will be difficult to alter the upward trend that is already in place.

The classic risk-off tale in markets today
It feels like it has been a while since we last saw such moves in the market play out, but the day so far is all about the risk-off mood as we await the return of North American traders – Wall Street in particular – after the long weekend.

Equity investors are nervous upon the return of Wall St from the long weekend
The continued slump in tech futures in the US is also weighing on the overall mood, with S&P 500 futures also down by ~0.5% and European indices are also dragged lower as a result. The DAX is down 0.9% with most indices

Forex news from the European trading session – 7 September 2020
Headlines:
Markets:
– JPY leads, GBP lags on the day
– European equities higher; E-minis down 0.1%

A tweet by European Commission president, Ursula von der Leyen
I trust the British government to implement the Withdrawal Agreement, an obligation under international law & prerequisite for any future partnership. Protocol on Ireland/Northern Ireland is essential to protect peace and stability on the island & integrity of the single market.

Comments by the German government spokesperson
– There is only little time left to reach a Brexit deal
– But Germany is convinced it is still possible
– But UK must make concessions for a deal to happen
Different day, same story. Both sides are still pushing for each other to move their red lines but until we move

Brexit negotiations continue this week, starting from tomorrow
Thursday and Friday will likely be the days to watch out for in terms of key headlines, especially after Frost and Barnier have had their concluding talks on Thursday, 10 September.

Cable falls to a session low of 1.3175, testing the low on Friday
The pressure is starting to build for the pound now as sellers are threatening a further move to the downside, in search of a firm break under the 1.3200 handle.

Options fever in the equity market
The FT report that SoftBank had been buying massive volumes of equity options grabbed all the attention in markets on Friday. Now there are more details of the trade, which is still largely mysterious. :

Forex news for New York trade on September 4, 2020:
Markets:
It was a wild ride in the aftermath of the non-farm payrolls report. The data itself was generally positive. The headline matched estimates but in reality it was a bit softer because of disappointing private jobs. However the unemployment rate made a big surprise drop to