California Gov. Lucent says hospitalizations are rising at a slower pace

Ross J Burland FXStreet

California Gov. Newsom said that hospitalizations are rising at a slower pace when he spoke in a press briefing.

California’s trends in tracking the novel coronavirus showed familiar patterns over the weekend, with the majority of new cases coming from Southern California.

As per yesterday's general outlook on the US situation, US cases at a critical mass spells danger for DXY.

R is now above the critical level of 1 in all but five of the US’s 50 states

Fulcrum economists have developed a new model. It suggests that the virus’s effective reproduction number, known as R, is now above the critical level of 1 in all but five of the US’s 50 states.

In an article within the Financial Times, it was argued that the US COVID-19 surge could trigger a double-dip recession: US COVID-19 surge could trigger a double-dip recession – FT

If the DXY continues to unwind, and should there be a breakthrough of the deadlock in the EU's coronavirus rescue package soon, we could see the euro take-off.

The Chart of the Week: EUR/USD to complete a reverse H&S prior to next leg higher?

Additionally, gold is alluring bids to a critical and psychological level on the charts:

Gold marks a conspicuous high invigorating much market scrutiny

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD rebounds from multi-day lows; still below 1.3600

Following an initial drop to fresh six-day lows, GBP/USD now picks up some updside traction and trades in levels just shy of the 1.3600 barrier on Thursday. The generalised cautious tone among market participants continue to underpin the Greenback ahead of Friday’s data releases and the Fed Warsh’s speech.

EUR/USD trims loses, flirts with 1.1650

EUR/USD now manages to regain some composure, trimming earlier losses and reclaiming the mid-1.1600s on Thursday. The pair’s pullback comes on the back of marginal gains in the US Dollar, as market participants now shift their attention to Friday’s NFP revision and the speech by Chair Warsh at the Jackson Hole Symposium.

Gold holds steady around $4,600 as traders eye Fed's Warsh for rate cues

Gold languishes near the $4,600 mark through the first half of the European session on Thursday and remains close to the weekly low it touched the previous day. The downside, however, seems limited as traders opt to wait for US Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium on Friday for cues on the future policy path. The outlook, in turn, will play a key role in influencing the US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

Crypto Today: Bitcoin, Ethereum, XRP bulls regain strength amid steady capital inflows

Cryptocurrency prices are broadly edging higher on Thursday, led by Bitcoin’s uptick near $80,000. Altcoins mirror Bitcoin’s short-term bullish outlook, with Ethereum trading above $2,500 and Ripple hovering above its key $1.40 support.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.

Kevin Warsh’s Jackson Hole dilemma: Say too much, too little, or just enough

Kevin Warsh is preparing to deliver his first Jackson Hole speech as Federal Reserve (Fed) Chair on Friday, and expectations extend well beyond whether interest rates will be raised or left unchanged in September.