Bank of Canada business outlook survey highlights
Florida Covid cases - Florida Covid 19 cases rise by 3.2% vs. 7 day average of 5.1% - total cases reach 206,447 vs. 200,111. The rise is 6336 cases. Florida reported 10,059 cases yesterday after a record 11,458 on Saturday.
Florida virus data due near the bottom of the hour It took a few minutes but the US dollar is making some headway after the surprising jump in the June ISM non-manufacturing report.
High reaches 1.1345 The EURUSD reached toward the June 23 high at 1.1348 (and the high from June 16 at 1.13527), but stalled at 1.1345. The price has pushed lower. The better ISM data finally made traders think "A stronger recovery may be a reason to BUT the USD". Market stories can change, but technically, the
The ISM non-manufacturing index for June 2020 Details:
Back near Friday closing levels The USDJPY has seen an up and down session so far. The initial move was to the upside. However, when the price approached the 100 day MA at 107.808 (the high reached 107.766), sellers leaned against the key technical level and the price moved lower.
US dollar struggles Gold is at a session high at $1787, which is just $2 from last Wednesday's seven-year high of $1789.
The June survey from Markit This is a good signal ahead of the ISM non-manufacturing index due at the top of the hour. The consensus is 50.2 but given that US data has routinely beat expectations, I'd expect the market is closer to 51-52.
Major indices solidly higher The US major stock indices are opening with solid gains. A few minutes into the opening the major indices are showing:
Layoffs and empty shopping malls? We've seen the coronavirus crash and the reopening bounce, but what comes next? I compare it to holding a ball underwater, then releasing it. All we know so far is how deep we held down the ball and how high it it rose out of the water. What we are trying to
