The China bull is stoking the risk-on mood in markets

Chinese state media is pushing the narrative that a bull market is here What is even more impressive is that trading volumes are surging, with daily turnover exceeding ¥1 trillion on Thursday and Friday last week - and likely to exceed that mark once again today. That represents a sign of surging risk appetite.

Economic data coming up in the European session

Risk-on to start the new week For some context, WHO noted over 200,000 coronavirus cases in 24 hours across the globe on Saturday - a record figure. It is still early in the day but so far the moves are pretty modest so let's see if that can keep pace as we get into the European trading

Goldman Sachs is very optimistic on Europe economic growth

GS say that outside the US, the cyclical news is generally positive.  We are very optimistic in Europe Meanwhile EUR is having a good session here: Earlier from GS, not so optimistic oin the US:

Citi says no longer bearish on risk assets

From a Citi analysts client note - the bank has switched from bearish to neutral Says markets seem to be less troubled about the rising number COVID-19 cases, due to:

ForexLive Asia FX news wrap: Risk assets in favour to open the week

Forex news for Asia trading Monday 6 July 2020  -   -   A strong day for the risk trade across FX and Chinese equities with any bad news shrugged off and good news (or even news not as bad as expected) embraced. The US has become a global red-hotspot for coronavirus outbreaks but the weekend numbers from

More weekend ECB comments - Villeroy says exceptional policy response "will be long-lasting"

Francois Villeroy de Galhau is head of the Bank of France and as such is on the European Central Bank policy baord Said the coronavirus pandemic has permanently changed European economic policy. On the expansion of ECB measures (eg negative interest rates, QE, long-term bank loans)

China's Shanghai Composite Index is now up 3% on the day

The Shanghai Composite Index is further exten ding its gains - +3% - and above 3,200 for the first time since April 2019 Shanghai Composite has surged more than 20% from its recent low late in March

Long EUR/CHF trade recommendation

A weekend note via Nordea with a ling euro sgainst Swissy recommendation - Target is 1.1020  - stop loss is 1.0480 Citing: - it is the pair that most truly reflects the EUR break up risk premia ---

China warns Canada - GT says "meddling in HK to backfire on Canada’s economy"

A Global Times piece, shaking a fist at Canada: GT also brings up the arrest of the Huawei executive (and daughter of the company's founder)  Article for more.

Australia ANZ job advertisements survey for June: +42.0% m/m (prior 0.5% m/m)

Huge jump back for job ads, up 42% on the month - prior (May) revised to -0.3%, april's was -53.7% m/m The y/y change is much less impressive, -44.6% y/y, up a l;ittle from the previous month at -59.9% y/y

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