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Positive sentiment gaining ground but can it last through Nonfarm Payrolls?
The past few sessions has begun to see a more constructive environment for risk emerging once more. The question is that after weeks of see-sawing sentiment, can this move be sustained? There is still a drip feed of positive economic data for June which has helped to counter the concerns of rising COVID-19 infection rates for the US and rolling back of economy re-openings. However, it will be interesting to see whether there is a tipping point back lower once more, and it will be in the July data that this may start to become an issue once more. This edge towards risk improvement has been backed by the FOMC minutes ... (full story)