Apple moves puts the brakes on steady gains...>

FOREX: Apple moves puts the brakes on steady gains

- After a slow and steady session, risk surrounding the reopening of the economy

resurfaced ahead of the close as Apple made the decision to close some re-opened

stores in both Florida and Arizona on the rising infection. With Apple seemingly

moving first, markets are now clearly concerned that other businesses could

follow, slowing the economic recovery.

- This set US equities on a negative path ahead of the close, with AUD, CAD

bearing the brunt in currency space. This kept haven FX at the top of the pile,

with JPY, CHF and - to a lesser degree - the greenback at the top of the G10

pile. The downside pressure on EUR/USD resulted in the pair printing lower lows

for four straight sessions, with focus on 1.1147 support.

- Focus in the coming week turns to the campaign trail, with President Trump due

to be holding a rally in Oklahoma on Saturday night amid high political

tensions. On the data front, prelim global PMIs, German IFO, US durable goods

orders and rate decisions from the central banks of Hungary, Mexico, New

Zealand, Thailand, Czechia, Philippines and Turkey all on the docket.