FX Coinbot

Updated Texas new coronavirus number: rise of more than 8,323 to nearly 210,000

7 Jul 2020

Reuters collating the Texas numbers, taking into account the weekend backlog
- 8,323 is a record daily increase
Meanwhile from China, Beijing cranks out a zero for new cases for the preceding 24 hours

Oil price forecasts from Citi - continue to see an oil price recovery

7 Jul 2020

Analysts at Citi
continue to see an oil price recovery and have increased their average forecasts for Brent and WTI
For Q3 2020:
- US$39/bbl and $37/bbl respectively
For Q4 2020:

US coronavirus - BoA temporarily closes approximately 50 branches in Central Florida

6 Jul 2020

Adds that branches will re open on a case by case basis.
Economies (think of economies as a collection of people with jobs and obligations and what have you, not just as GDP) will suffer set backs like this as economies re open, a surge in cases will see a backwards step.

RBA monetary policy meeting preview and where to for the AUD (scenarios)

6 Jul 2020

Earlier:
RBA monetary policy decision due on Tuesday 7 July 2020 - preview
This now in brief via TD:
On the AUD:
AUD scenarios:

Japan wages data for May, Labor cash earnings: -2.1% y/y (expected -1.0%)

6 Jul 2020

This data point is unlikely to move forex upon release

Labor cash earnings -2.1% y/y
- expected -1.0% y/y, prior -0.7%
Real cash earnings -2.1% y/y

Australia weekly consumer confidence 92.1 (prior 93.0)

6 Jul 2020

ANZ/Roy Morgan survey, confidence falls to an 8-week low
ANZ comments
- consumer confidence in economic conditions deteriorated
- While the return to lockdown has so far been localised to 12 Melbourne postcodes, the confidence effect is more pervasive.
ANZ second comment related to the surge in cases in Australia's second largest city, Melbourne

Japan - Tokyo records 5th consecutive day of +100 new coronavirus cases

6 Jul 2020

The count of COVID-19 cases newly confirmed in the capital for July 6 is in, at 102
I'm awaiting the number from Australia, yesterday's was over 100 just in the city of Melbourne.

EU threatens retaliation against the US if it puts tariffs on EU goods (Boeing - Airbus)

6 Jul 2020

The US has threatened to impose tariff duties on EU goods such as beer, gin and olives.
This is part of the 15 year trade ware the two have been engaged in on subsidies for Airbus.

New Zealand - NZIER economist says contraction in GDP will not be as severe

6 Jul 2020

The NZIER QSBO was out earlier:
Chief economist of NZIER interviewed by bbg Bloomberg says:
activity gauge indicates annual GDP fall will be 2% in Q2
not as severe

President Bolsonaro of Brazil is said to be displaying symptoms of coronavirus

6 Jul 2020

One of President Trump's key allies and partner in denial of the virus. Bolsonaro has cancelled events while awaiting test results.
Let's hope he does not have it, or if so he recovers soon. Countless Brazilians have not been so fortunate.