GBPUSD rotates to trend line support on the hourly chart and bounces

6 Jul 2020
Price could not extend to the high from last week 
The GBPUSD could not extend to the high price from last week at 1.25291 nor to the high swing area from June 23/June 24 between 1.2531-1.25413. The high price reached 1.2519.
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NASDAQ rises over 200 points

6 Jul 2020
Up nearly 2% on the day
the NASDAQ index has extended to a new session high and is up over 200 points at 10408. The high price just reached 10411.72. The index is up 1.97%. All time new intraday highs.
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Bank of Canada Q2 business outlook future sales -35.0 vs +22.0 prior

6 Jul 2020
Bank of Canada business outlook survey highlights
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Florida Covid cases rise by 3.2% vs. 7 day average of 5.1%

6 Jul 2020
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.
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US dollar gains after ISM data. Florida virus data is coming up next.

6 Jul 2020
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.
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EURUSD backs off after getting close to June 23 high

6 Jul 2020
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
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June US ISM non-manufacturing index 57.1 vs 50.2 expected

6 Jul 2020
The ISM non-manufacturing index for June 2020
Details:
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USDJPY in up and down session, tests the low support area

6 Jul 2020
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.
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Gold nears a fresh record high as dollar softens

6 Jul 2020
US dollar struggles
Gold is at a session high at $1787, which is just $2 from last Wednesday's seven-year high of $1789.
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June final Markit US services index 47.9 vs 46.9 expected

6 Jul 2020
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.
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