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US equities strike new recovery high as.......>

FOREX
FOREX: US equities strike new recovery high as vaccine news welcomed
- News from Moderna after yesterday's close boosted sentiment throughout the
Wednesday session. This effect was compounded by a similar story for
AstraZeneca's product trial, with news expected to follow on Thursday. The
e-mini S&P rallied in early US hours to hit 3,233.25 - the highest since late
February and the beginning of the Coronavirus crisis.
- This resulted in firm CHF sales, pressing the currency to the bottom of the
G10 pile and boosting EUR/CHF to the best levels of the month at 1.0784.
- CAD was among the best performers Thursday despite the BoC hammering home that
rates won't rise until their inflation target is met. CAD and other oil-tied
currencies rose as OPEC reached a broad agreement to raise output given the
recovery in demand.
- Thursday is the busiest session of the week for equity earnings, with updates
due from Bank of America, Charles Schwab, Johnson & Johnson, Netflix, Morgan
Stanley and others. Weekly US jobs & retails sales cross as well as Australian
and UK jobs data for June, Chinese GDP for Q2 and the ECB rate decision.

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