Yang FX & Stocks

DAX futures contract in Germany traded 0.3% higher, FTSE 100 futures contract in the U.K. rose 0.4%, while CAC 40 futures in France climbed 0.1%.SAP (DE:SAPG) will be in focus after the German software company increased its operating profit and revenue in the second quarter, extending its improved performance. Ryanair (LON:RYA) posted a first-quarter net loss and wasn't able to give any guidance for fiscal 2021, due to the impact of the pandemic. It's likely to be one of the companies hit by the U.K.'s decision to impose a quarantine on travelers returning from Spain. U.S. crude futures trading 0.3% lower at $41.17 a barrel, while the international benchmark Brent contract fell 0.3% to $43.63. Gold futures rose 1.8% to $1,930.75/oz.The heavily offered tone surrounding the USD assisted GBP/USD to add to last week’s gains. The bullish bias around the European currency remains well and sound for yet another session on Monday, this time lifting EUR/USD to fresh tops above 1.17 the figure. The U.S. Dollar Index slipped 0.47% to 93.933, continuing its slide from Friday.

DAX in Germany traded 2.2% lower, CAC 40 in France fell 2.1% and U.K.'s FTSE index was down 1.8%. Walt Disney (NYSE:DIS) postponed the release of its new Mulan movie and the next movie off the Star Wars production line Thursday, amid concerns that cinemas will struggle to attract visitors for the foreseeable future. Vodafone (LON:VOD) stock dropped 3.6% after the world's second-biggest mobile operator said it would list its towers infrastructure business in Frankfurt next year. Additionally, Infineon (DE:IFXGn) and ASML Holding NV (AS:ASML) both fell nearly 5%, mirroring the underperformance by U.S. tech stocks on Thursday after Intel 's (NASDAQ:INTC)'s production warning prompted profit-taking.U.S. crude futures traded 0.1% lower at $41.02 a barrel, while the international benchmark Brent contract fell 0.1% to $43.29. Gold futures rose 0.3% to $1,895.55/oz.GBP/USD has been benefiting from upbeat UK retail sales but US-China spat is taking their toll. EUR/USD regains 1.16 as German Preliminary Manufacturing PMI betters estimates with 50.0 in July. The Dollar Hits 22-Month Low Amid Recovery Concerns, trading at 94.627.

[ADDING - BREAKING NEWS]News release at press time: ****Wirecard files for insolvency, becoming first DAX member to fail****Europe Mixed After Sell-Off; Consumer Mood Improves in GermanyLufthansa soars after top shareholder backs bailout EU to propose single stock report to compete with London, document showsGBP/EUR Exchange Rate Rallies as US-EU Trade Tensions DominateSterling falls against dollar as investors turn cautious. Euro rises on upbeat data.Dollar Gains on Covid-19 FearsGBP / USD 1.2430GBP / EUR 1.1060EUR / USD 1.1240GBP / JPY 133.10GBP / CHF 1.1790GBP / CAD 1.6970GBP / AUD 1.8100GBP / NZD 1.9330GBP / CNY 8.8050GBP / SGD 1.7310GBP / ZAR 21.705

Stocks - Europe Higher; Worst of Virus "Probably Past"; European stock markets pushed higher Friday, amid signs the region was returning more towards normalcy despite an ever-rising number of Covid-19 cases elsewhere.EasyJet (LON:EZJ) rose 2.4%, IAG (LON:ICAG), which owns British Airways, rose 2.8%, and Ryanair (LON:RYA) climbed 1.2%.GBP/USD is down -0.11% on a day to 1.2405 as the pair displays bearish signs. Furthermore, Friday's 4-hour chart is showing that momentum has turned to the downside FXStreet, reports. ECB’s Christine Lagarde said the recovery will be ‘incomplete’. A combination of factors such as plans to joint debt issuance, German fiscal expansion, and the extension of the ECB PEPP programmes call for medium Run EUR bullishness, according to CIBC Capital Markets. The dollar has maintained its strong tone in early European trade Friday, with traders seeking out the safe haven as the number of coronavirus cases in the U.S. continue to grow.

DAX futures contract in Germany traded 0.3% higher, FTSE 100 futures contract in the U.K. rose 0.3%, while CAC 40 futures in France climbed 0.7%.Daimler (DE:DAIGn) will be in the spotlight after the German car manufacturer said it still expects to make an operating profit this year. Reports from Pernod Ricard (PA:PERP), STMicroelectronics (PA:STM) and Roche (SIX:RO) are also to be released today. U.S. crude futures traded 0.3% higher at $42.02 a barrel, while the international benchmark Brent contract rose 0.2% to $44.39. Gold futures rose 0.5% to $1,873.95/oz.GBP/USD bounces off intraday low of 1.2723, stays inside 20-pips range since late-Wednesday.EUR/USD stays bid and looks to retest the 1.1600 mark.The dollar weakened in early European trade Thursday, with signs of a recovery in Europe boosting sentiment despite heightened tensions between the U.S. and China. The Dollar Index was down 0.1% at 94.808, just off the four-month low of 94.773 seen earlier.

Week 13-17.07.2020

DAX futures contract in Germany traded 1% higher, FTSE 100 futures contract in the U.K. rose 0.7%, while CAC 40 futures in France climbed 0.8%.UBS (SIX:UBSG) will be in the spotlight after the Swiss banking giant announced a net profit of $1.23 billion for the second quarter, down 11% from the same period last year, but ahead of analysts’ expectations.British online electricals retailer AO World (L:AO) has proposed an employee incentive scheme that would benefit all of its 3,000 workers, it said on Tuesday.U.S. crude futures traded 0.1% higher at $40.95 a barrel, while the international benchmark Brent contract rose 0.2% to $43.38. Gold futures rose 0.1% to $1,819.95/oz.The GBP/USD pair is heading back towards 1.2700 amid a fresh round of selling seen in the US dollar across the board, as the risk sentiment improves in Europe.EUR/USD jumped to fresh multi-month highs on Tuesday after the European Union reached a historical deal on the €750 billion coronavirus recovery fund. The Dollar Index was down 0.1% at 95.718, having earlier traded at a more than four-month low of 95.687. USD/JPY was up 0.1% at 107.31

DAX futures contract in Germany traded 1% higher, FTSE 100 futures contract in the U.K. rose 0.7%, while CAC 40 futures in France climbed 0.8%.UBS (SIX:UBSG) will be in the spotlight after the Swiss banking giant announced a net profit of $1.23 billion for the second quarter, down 11% from the same period last year, but ahead of analysts’ expectations.British online electricals retailer AO World (L:AO) has proposed an employee incentive scheme that would benefit all of its 3,000 workers, it said on Tuesday.U.S. crude futures traded 0.1% higher at $40.95 a barrel, while the international benchmark Brent contract rose 0.2% to $43.38. Gold futures rose 0.1% to $1,819.95/oz.The GBP/USD pair is heading back towards 1.2700 amid a fresh round of selling seen in the US dollar across the board, as the risk sentiment improves in Europe.EUR/USD jumped to fresh multi-month highs on Tuesday after the European Union reached a historical deal on the €750 billion coronavirus recovery fund. The Dollar Index was down 0.1% at 95.718, having earlier traded at a more than four-month low of 95.687. USD/JPY was up 0.1% at 107.31

Norwegian Air Shuttle (OL:NWC) stock climbed 5.8% after it notified Boeing (NYSE:BA) that it will cancel a deal to buy nearly 100 remaining planes, and is suing over losses related to the grounding of the 737-Max and 787 engine issues. Wirecard stock jumped 82%. U.S. crude futures traded 0.8% lower at $39.40 a barrel. The international benchmark Brent contract fell 0.6% to $41.59. Gold futures rose 0.2% to $1,785.25/oz. EUR/USD traded at 1.1216, down 0.2%. GBP slides under $1.23 ahead of UK PM Johnson speech; US Dollar edges higher before quarter-endGBP / USD 1.2261GBP / EUR 1.0932EUR / USD 1.1219GBP / JPY 132.08GBP / CHF 1.1673GBP / CAD 1.6770GBP / AUD 1.7884GBP / NZD 1.9150GBP / CNY 8.5901GBP / SGD 1.7119GBP / ZAR 21.161

Europe Edges Higher; DAX OutperformsAirbus stock climbed 1.3% despite a 40% drop forecastOil prices fell back; Chesapeake Energy to seek bankruptcy protectionU.S. crude futures traded 1.6% lowerLagarde Says The Worst Is Over. Time To Panic?Sterling on track for a dismal month.Euros zipping off the presses.Dollar up on fear factor.GBP / USD 1.2360GBP / EUR 1.0985EUR / USD 1.1250GBP / JPY 132.50GBP / CHF 1.1710GBP / CAD 1.6880GBP / AUD 1.7060GBP / NZD 1.9200GBP / CNY 8.7500GBP / SGD 1.7210GBP / ZAR 21.305