FX Daily Update – US Session 8th July 2020

Essential Insights 

  • European equities have generally slipped lower but have been fairly contained
  • FX markets have been quite amid lack of fundamental events
  • California and Texas posted yet another day of record covid-19 cases 

Coronavirus Update

  • AFP tweeted that US coronavirus cases rose by a new daily record of 60,209 
  • California saw cases increasing by at +10,000 (record) , whilst Texas cases rose +10,000 (Previously, +5,318)

Asian Markets

  • ASX 200 was down around (-1.5%) , this comes as state Victoria entered a new 6-week lock down. The Nikkei 225 was down (-0.8%) due to concerns over an uptick in virus cases in Tokyo where there have been more than 100 new cases being reported.  
  • Hang Seng (+0.6%) and Shanghai Comp. (+0.7%) were both up on the day following no new covid-19 cases being reported from Beijing, however this data should be taken with a slide of caution


  • UK Chancellor Sunak will be announcing a  £2bln funding scheme centred around opening thousands of work placement


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