Market Update

Net change in employment in Canada increased more than expected as Statistics Canada reported on Friday that net change in employment in Canada rose by 953,000 in June, bringing the unemployment rate down to 12.3% from 13.7% recorded in May. However, the unemployment rate came out worse than the market’s …

Annual core PPI in the U.S. fell more than expected in June, as data published by the US Bureau of Labor Statistics on Friday showed that US PPI for final demand decreased to -0.2% in June from 0.4% in May, on an annual basis. The index remained unchanged at -0.8% …

France and Italy posted large rebounds in industrial production for May, providing some safety over the prospects for an economic recovery in Europe. French industrial production increased by 19.6% on a monthly basis, while Italy recorded 42.1%. It is worth noting that one of the most important industrial provinces of …

European Council President Charles Michel is meeting with members of the European Parliament on Friday. The discussion focused on finding an agreement on a long-term EU budget of 1.074 trillion euros and a recovery fund of 750 billion euros for the worst-hit countries by the coronavirus pandemic. Reuters reported that …

Hong Kong authorities announced today the closure schools again on Monday, with increased cases of Covid 19, an indication of the full lockdown soon. The decision came after the number of infected people rose to 1,404 in Hong Kong after 34 new cases were recorded, which raised fears as there …

The International Energy Agency (IEA) raised its forecast for global oil demand in 2020 but warned that the recovery may face some obstacles due to the high number of new COVID-19 cases worldwide. The agency said in a monthly report that the collapse of fuel consumption during Q2 was less …

European stocks continued to post losses for the fourth straight session on Friday, as fears increased over the economic recovery due to the rise in COVID 19 cases worldwide. The pan-European STOXX 600 index (STOXX) slipped 0.4% by 07:14 GMT, (SXEP) sliding 1.4%. Other growth-sensitive sectors such as miners, insurers …

Japan

Asian shares and US stock futures fell on Friday, with an increase in the number of Covid-19 cases in the United States, which casts fears on the outlook for economic recovery. At the same time, investors looked forward to the earnings season. MSCI’s broadest index of Asia-Pacific shares outside Japan …

FX option expiries for July 10 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1200 892m1.1300 529m1.1400 536m – USD/JPY: USD amounts          107.15 795m108.00 572m