Slowing case growth supports equity bounce....>

FOREX: Slowing case growth supports equity bounce

- After the sharp sell-off into the Friday close, equity markets globally staged

a decent bounce Monday but failed to tackle the best levels of the Friday

session. A slowdown in the growth of COVID cases across some of the US' most

afflicted states helped support, although weekend effects may have played a

part.

- Month-end demand for EUR/GBP was evident throughout the session, helping boost

the cross to the best levels since late March. The feedthrough in EUR/USD failed

ahead of the London close, however, keeping the pair closer to the lower-end of

the June range.

- Key datapoints from across the globe keep the Tuesday session a busy one, with

official Chinese PMI numbers, French, Italian & Eurozone inflation the

highlights of the Asia-Pac/European session. Canadian GDP, MNI Chicago Business

Barometer and US Consumer Confidence for June then cross in US hours. The

speaker slate is equally stacked, with RBA's Debelle, BoE's Haldane, ECB's de

Guindos, Fed's Powell just the highlights.