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US dollar slides as risk appetite improves
July 8, 2020 21:51 Forexlive Latest News Market News
US equity markets are catching a big early bid and the S&P 500 is up 18 points to 3163. That’s weighing on the US dollar as the market falls in love with emerging market currencies and risk-sensitive currencies like CAD.
Stock futures point to a small gain at the open
July 8, 2020 21:26 Forexlive Latest News Market News
Look for a 5-point gain in US equities at the open after a 34-point decline in the S&P 500 yesterday. As usual, tech outperformed yesterday while the Russell 2000 underperformed.
Gold makes a fresh 9-year high at $1807. What’s next
July 8, 2020 21:09 Forexlive Latest News Market News
Gold stalled out for a time yesterday at the 2013 high of $1796 but broke through that and the $1800 barrier today. The bid just keeps coming now as it hits a fresh high at $1807, up $12 on the day.
White House virus task force to hold press briefing at 11:30 am ET
July 8, 2020 20:40 Forexlive Latest News Market News
Pencil in a vaccine or treatment ‘breakthrough’. There was all kinds of talk about an announcement along those lines yesterday but it didn’t materialize.
Merkel: Progress in UK talks limited, we should prepare for possibility of no deal
July 8, 2020 20:35 Forexlive Latest News Market News
She said progress in EU-UK negotiations “has been slim to put it diplomatically”.
“I will continue to push for a good solution but we should also prepare for a possible no-deal scenario.”
GBP shrugs off tax announcements from Sunak
July 8, 2020 20:26 Forexlive Latest News Market News
The UK Chancellor cut the VAT on hospitality and tourism, temporarily lowered the stamp tax on home purchases and unveiled a 9B pound job retention plan but the FX market shrugged it off.
UK’s Sunak: To temporarily cut stamp duty tax on home purchases up to £500,000
July 8, 2020 20:02 Forexlive Latest News Market News
– VAT on hospitality and tourism to be cut for the next 6 months
– In August, we will give everyone an eating out discount
UK’s Sunak: We will do all we can to give everyone job opportunities
July 8, 2020 19:49 Forexlive Latest News Market News
– Our plan will protect and create jobs
– Job losses are the most urgent challenge we face
ForexLive European FX news wrap: Gold breaks $1,800
July 8, 2020 19:45 Forexlive Latest News Market News
Headlines:
Markets:
– Major currencies little changed
– European equities lower; E-minis up 0.1%
Merkel: EU needs unity for economic recovery plan
July 8, 2020 19:21 Forexlive Latest News Market News
– Expects ‘good cooperation’ with EU partners
– Germany determined to help EU overcome virus crisis
The next week or so is going to be crucial for European assets as all eyes will turn towards the progress on the recovery fund ahead of the 17-18 July summit. European Commission president von der
US MBA mortgage applications w.e. 3 July +2.2% vs -1.8% prior
July 8, 2020 19:02 Forexlive Latest News Market News
– Market index 775.9 vs 758.9 prior
– Refinancing index 3,373.9 vs 3,359.2 prior
Risk mood not hinting at much ahead of North American trading
July 8, 2020 18:45 Forexlive Latest News Market News
After a back and forth last two days, the risk mood today is looking rather tepid for the most part with investors looking towards Wall Street for more direction.