Weekly News 29.06.2020–03.07.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade.

Important events of this week include a discussion on the EU recovery plan, a termination of funding COVID-19 test sites in the US, and the reopening of Disney parks in Tokyo.


Economic Calendar

29.06 14:00 GMT 🇺🇸Pending Home Sales Index — EUR/USD ▼

30.06 12:30 GMT 🇨🇦GDP — USD/CAD ▲

01.07 12:15 GMT 🇺🇸ADP National Employment Report — EUR/USD ▼

02.07 12:30 GMT 🇺🇸Nonfarm Payrolls — USD/CAD ▲

03.07 08:30 GMT 🇬🇧Services Purchasing Managers Index — GBP/USD ▲


June 29. The EU Recovery Plan

French President Emmanuel Macron will meet German Chancellor Angela Merkel to discuss the EU economic recovery plan, global events, fight against COVID-19 and ecological issues.

We remind you that the European commission has presented a €500bn stimulus package to fund a European recovery plan.


June 30. White House Cuts Down on Quarantine Costs

From this date, U.S. federal authorities will no longer fund 13 temporary COVID-19 test sites. This is probably the beginning of a massive reduction in spending on fighting the pandemic.

Earlier, U.S. President Donald Trump has blamed an increase in new coronavirus cases on too much testing.


July 1. Disney Parks Resume Operation. EU Reopens its Borders

Tokyo Disneyland and Tokyo DisneySea amusement parks will restart their operations after a suspension caused by the COVID-19 pandemic. The Japanese authorities had introduced extraordinary measures, declaring a state of emergency in response to the spread of the coronavirus. However, the Land of the Rising Sun is now gradually returning to its usual rhythm of life.

The European Union plans to open its external borders. However, the citizens of Russia, the U.S. and Brazil will be still blocked from entering the EU. According to European officials, the trend in the spread of COVID-19 in these countries is still negative.

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