The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* Markets turn after Equities +3.5% at one stage, whilst USD turns and makes gains
– plenty believe this recent equity upswing has been a classic bear market rally?
– Q2 earnings and economic data irrelevant, key is ending lockdowns and reopening
* COVID cases falling in hotspots providing further hope……
* US looks set to announce a further $200bn lending to SMEs
– ECB eased collateral rules, now accepting sub investment grade…