(30 JUNE 2020)DAILY MARKET BRIEF 2:WTI remains bid near $37

<p>In this respect, the Chinese manufacturing and services PMI expanded quicker than expectations in June according to the official data. The factory activity reached the strongest level since March, hinting that the Chinese economy is back on track despite interruption in some businesses due to a renewed lockdown to contain the second wave contamination. This is good news for the rest of the world: the second wave containment measures didn’t have a material impact on the fast-reacting PMI figures. FTSE (+0.13%) and DAX futures (+0.48%) point at a marginally positive start on Tuesday. But firm demand in US treasuries and gold hint at a steady grip on safe assets. Gold remains bid near the $1770 per oz and the reluctance to take profit at these levels hint at a growing possibility of an advance to $1800. But solid offers should come in play above this level if the risk sentiment remains solid on investors’ selective perception of risk regarding the news flow. The US dollar is steady. The E</p>