Comments by ECB vice president, Luis de Guindos
Well, the thing is while the sharp drop in Q2 isn’t quite the worst-case scenario, it is still bad. The issue now is will the recovery thereafter be as robust as what policymakers and lawmakers expect it to be? That is the more pressing concern in my view

European equities creep a little higher alongside US futures
Risk sentiment has picked up in the last hour, with the DAX now seen up by ~0.6% and trading at the 13,000 level for the first time since 25 February. Meanwhile, US futures have also improved to be down by ~0.1% after observing around ~0.6% losses earlier.

The latest data from Florida
New cases appear to be plateauing at a high level but the positivity ratio remains high. It’s 17% in Miami-Dade and there isn’t a single county below 5%.

What moved in the market last week
It’s unusual to see this pair on the opposite end of the spectrum. The divergence in AUD and NZD is also odd given the virus outbreak in Victoria.

Forex news for NY trading on July 17, 2020
In other markets:
– Spot gold is closing the week above the $1800 in what was an up and down week for the precious metal. The high for the week was on Wednesday at $1814.90. The low for the week was on Tueday at $1790.79.  The price is

Weekly FX speculative positioning data from the CFTC
Highlights:

Gov. Cuomo speaking on New York City opening
– New York City moves to a phase 4 reopening on Monday
– US virus spread will affect the New York; unknown how badly

Dow industrial average down for the 2nd consecutive day
The final numbers are showing:
For the week, the Dow led the way, while the NASDAQ index ended the week in the red. The final numbers are showing:

California reports an increase in cases

A couple of token remarks from Bailey
here