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The European Council President is expected to propose a more modest EU budget this week. The Council is hoping EU leaders will agree to it at a summit later this month but wrangling over how best to help the weaker members from the Covid-19 pandemic will likely continue. Unless the EU governments can sort out their disagreements soon, a drop is likely in EUR/USD in this year’s third quarter. more...
The US Dollar may rise as initial jobless claims stabilize at historically elevated levels. Non-farm payrolls may surprise higher, but FOMC minutes could sink the S&P 500 and boost USD. More of the same could be ahead. Data out of the world’s largest economy has increasingly outperformed relative to expectations. more...
Originally Posted by TheNews Germany's investor confidence rebounded at record rate in June as lockdown restrictions imposed to slow the spread of the coronavirus were eased across Europe, survey data from the ifo institute showed on Wednesday. more...
Australia's gross domestic product dropped a seasonally adjusted 0.3 percent on quarter in the first three months of 2020, the Australian Bureau of Statistics said on Wednesday. more...
The long-term outlook for the Euro has been boosted significantly by a Franco-German proposal for a €500 billion coronavirus Recovery Fund, even though an agreement is not yet close. more...
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