05 Apr 2024, 11:35 by Newsquawk Desk
- European equities lower across the board in catch-up play from the late selling seen on Wall St.
- DXY unchanged with G10s rangebound into NFP
- Fixed income benchmarks slightly softer as they give back some of Thursday’s risk-inspired upside
- Commodities feature modest gains for crude and XAU
- Payrolls aside, markets attentive for any further escalation in geopolitical tensions into a potential risk-fuelled...
05 Apr 2024, 06:35 by Newsquawk Desk
- APAC stocks followed suit to the losses in the US amid geopolitical concerns and hawkish-leaning Fed rhetoric.
- Fed's Kashkari and Goolsbee noted that it is possible the Fed will not cut this year if inflation stalls.
- European equity futures indicate a weaker open with the Euro Stoxx 50 future -1.3% after the cash market closed flat on Thursday.
- DXY is a touch firmer, EUR/USD eased back from two weeks highs but remains on a 1.08 handle,...
04 Apr 2024, 11:35 by Newsquawk Desk
- European bourses a touch firmer post-PMIs after a flat open, US futures tilting higher in tandem into IJC and Fed appearances
- DXY softer and approaching 104.00, EUR inches higher post-PMIs, JPY stead, CHF lags
- EGBs bid despite PMI pressure though off highs in somewhat limited newsflow, USTs flat
- Base metals continue to climb with 3M LME Copper at a 52-week high, crude contained and XAU slightly softer
- Looking ahead,...
04 Apr 2024, 06:35 by Newsquawk Desk
- APAC stocks traded higher as sentiment picked up from the choppy mood and mixed data releases stateside.
- Fed Chair Powell said if the economy evolves as the Fed expects, most on the FOMC expect to cut rates later this year.
- European equity futures indicate a slightly positive open with the Euro Stoxx 50 future +0.1% after the cash market closed up 0.5% on Wednesday.
- DXY has pulled back further from 105, antipodeans outperform, EUR/USD...
03 Apr 2024, 11:15 by Newsquawk Desk
- European bourses are modestly firmer, US equity futures are in the red though with trade contained
- Dollar is flat and G10 peers are incrementally softer
- USTs are incrementally softer whilst Bunds are firmer after dovish-tilting speak from ultra-hawk Holzmann coupled with softer EZ-HICP metrics
- Crude is incrementally firmer but within recent levels, XAU is off best
- Looking ahead, US ADP, ISM Services, Australian PMI...
03 Apr 2024, 06:35 by Newsquawk Desk
- APAC stocks followed suit to losses in the US where treasuries bear-steepened and oil prices ramped up.
- Fed's Daly said there is no urgency to adjust the rate, Mester doesn't see the case for cutting at the next meeting.
- European equity futures indicate a contained open with the Euro Stoxx 50 future flat after the cash market closed lower by 0.8% on Tuesday.
- DXY remains on a 104 handle with FX markets overall steady, USD/JPY lingers...
02 Apr 2024, 11:15 by Newsquawk Desk
- Equities are mixed, with clear outperformance in the Energy/Basic Resources names amid broader strength in the underlying commodity prices
- Dollar is flat and holds around 105, AUD outperforms given the rally in metals prices
- Bonds are mixed, USTs are flat and hold near post-ISM lows, whilst Bunds play catch up; a modest dovish reaction was seen following German state CPIs
- Commodities are entirely in the green, Crude benefits from heightened...
02 Apr 2024, 06:25 by Newsquawk Desk
- APAC stocks were mixed after the weak performance on Wall St where hot ISM Manufacturing PMI saw markets trim Fed rate cut bets.
- European equity futures indicate a contained open with the Euro Stoxx 50 future little changed after the cash market closed flat on Thursday.
- DXY sits on a 105 handle, EUR/USD slipped below 1.08, USD/JPY extended upside and Cable gave back the 1.26 handle.
- Crude futures remained afloat after recently gaining...
28 Mar 2024, 10:45 by Newsquawk Desk
- European bourses hold a positive bias whilst Stateside futures are subdued ahead of a busy docket
- Dollar bid acting as a drag on G10 peers, Antipodeans lag
- Bonds are lower in a continuation of post-Waller price action
- Crude and XAU remains in the green despite the stronger Dollar as geopols remain in focus
- Looking ahead, Highlights include US GDP (F), IJC, UoM Inflation Expectations (F), Japanese Tokyo CPI &...
28 Mar 2024, 06:25 by Newsquawk Desk
- APAC stocks partially sustained the momentum from the late ramp-up on Wall St heading into quarter-end.
- Fed's Waller said still no rush to cut rates and the Fed may need to maintain the current rate target for longer than expected.
- European equity futures indicate a positive open with the Euro Stoxx 50 future +0.3% after the cash market closed up 0.4% on Wednesday.
- DXY is contained on a 104 handle, EUR/USD is holding above 1.08 and...
27 Mar 2024, 10:44 by Newsquawk Desk
- European bourses are mixed whilst Stateside futures are entirely in the green
- Dollar is flat, JPY higher after a BoJ/MoF/FSA meeting which only resulted in further jawboning from Top Currency Diplomat Kanda
- Bonds mixed though price action has been contained; Bunds rose incrementally on Spanish CPI, upside which proved fleeting
- Crude is softer in a continuation of post-private inventory data action, XAU bid
- Looking...
27 Mar 2024, 06:28 by Newsquawk Desk
- APAC stocks traded mixed after the subdued handover from Wall St heading into quarter-end and Easter.
- European equity futures indicate a slightly softer open with the Euro Stoxx 50 future -0.1% after the cash market closed up 0.4% on Tuesday.
- DXY is a touch firmer on a 104 handle, USD/JPY printed a fresh 33yr high, FX markets are otherwise contained.
- BoJ's Tamura said that based on the current economic and price outlook, the BoJ is likely to...
26 Mar 2024, 10:52 by Newsquawk Desk
- European bourses are mixed though have been edging higher, taking impetus from strength in US equity futures
- Dollar is weaker, NZD benefits from a softer AUD/NZD cross
- Bonds incrementally firmer and Gilts outperform after BoE’s Mann
- Crude is modestly softer, XAU higher and near session highs
- Looking ahead, US Durable Goods, Philly Fed Non-manufacturing Business Outlook, Richmond Fed Survey, BoC’s Rogers and ECB’s...
26 Mar 2024, 06:30 by Newsquawk Desk
- APAC stocks were choppy after a similarly subdued handover from Wall St.
- European equity futures indicate a contained open with the Euro Stoxx 50 future flat after the cash market closed up 0.3% on Monday.
- FX markets are steady, DXY holds above 104, PBoC delivered another firmer-than-expected CNY fix.
- Crude is flat but holding onto recent gains, Bunds attempted to recoup recently lost ground.
- Looking ahead,...
25 Mar 2024, 10:42 by Newsquawk Desk
- Equities mostly and modestly lower, following on from a downbeat session in China/Japan overnight
- Dollar is flat, Antipodeans modestly firmer benefitting from a stronger Yuan
- Bonds are incrementally softer ahead of a 2yr US auction
- Crude is firmer, whilst base metals are entirely in the red hampered by poor Chinese price action overnight
- Looking ahead, Comments from ECB’s Lagarde, Fed’s Bostic, Goolsbee, Cook &...
25 Mar 2024, 06:33 by Newsquawk Desk
- APAC stocks traded mixed amid a lack of major macro drivers heading into month-end and a slew of data releases.
- Fed’s Bostic (voter) adjusted his projection to one rate cut this year and at a later start vs. previous view of two cuts.
- European equity futures indicate a flat open with the Euro Stoxx 50 future unchanged after the cash market closed down 0.4% on Friday.
- DXY is a touch softer, EUR/USD found support at 1.08, Cable is back on a...
22 Mar 2024, 10:52 by Newsquawk Desk
- Equities are modestly firmer; European sports retailers are hit post-Nike earnings
- Dollar bid, largely a factor of broader G10 weakness, Antipodeans underperform following the glum mood in China overnight
- Bonds continue their dovish price action, and little changed following positive German Ifo
- Crude is modestly softer and base metals are entirely in the red, dragged down by Dollar strength
- Looking ahead, Canadian...
22 Mar 2024, 06:20 by Newsquawk Desk
- APAC stocks were ultimately mixed after momentum from the fresh record highs on Wall Street waned, Hang Seng and Shanghai Comp. suffered.
- DXY extends on gains above 104.00 after recent firm US data and pressure in Asia-Pac counterparts, USD/JPY traded indecisively.
- The latest Japanese CPI data was mostly softer-than-expected but the Core reading matched estimates at a four-month high.
- BoE Governor Bailey said rate cuts were in play at future...
21 Mar 2024, 10:58 by Newsquawk Desk
- Equities firmer in a continuation of the post-Fed rally; European bourses off best after EZ PMIs
- Dollar stronger, AUD bid post-jobs data and CHF lower after SNB cut rates by 25bps
- Bonds higher taking impetus from the poor French PMI and dire accompanying German commentary
- Crude pares initial gains, base metals benefit from risk sentiment
- Looking ahead, US IJC, Fed's Barr, Supply from the US, Earnings from FedEx,...
21 Mar 2024, 06:35 by Newsquawk Desk
- Fed kept rates unchanged and reaffirmed its 2024 three rate cuts projection, 2025 and 2026 FFR forecast raised.
- Powell noted that January/February CPI and PCE data was quite high, but there are reasons to believe there were seasonal factors at play.
- APAC stocks were mostly underpinned after the fresh record levels on Wall St post-"dovish" FOMC.
- European equity futures indicate a higher open with the Euro Stoxx 50 future +1.2% after the cash...
20 Mar 2024, 10:31 by Newsquawk Desk
- European equities are mostly lower, with the CAC 40 dragged down by Luxury names after Kering issued a profit warning; US equity futures modestly softer
- DXY firmer, taking impetus from the weaker Yen; USD/JPY above 151.70
- Bonds hold a bullish bias following softer UK CPI, as attention turns to the FOMC
- Crude and base metals are softer owing to the firmer Dollar and tentative risk tone
- Looking ahead, Australian PMIs,...
20 Mar 2024, 06:28 by Newsquawk Desk
- APAC stocks traded cautiously and mostly rangebound ahead of the FOMC and with Japanese markets closed.
- European equity futures indicate a lower open with the Euro Stoxx 50 future -0.4% after the cash market closed up 0.5% on Tuesday.
- In the luxury sector, Kering has warned of a 20% plunge in Q1 Gucci sales.
- DXY is contained below the 104 mark, JPY lags with USD/JPY above 151.50, GBP eyes UK CPI metrics.
- Looking...
19 Mar 2024, 11:00 by Newsquawk Desk
- European bourses are mixed; US equity futures are lower, RTY underperforms
- BoJ carried out a widely telegraphed and dovish exit from NIRP, YCC and ETF/J-REIT buying; RBA U/C, dovish tweak to guidance
- Dollar is firmer and trades around 104.00, JPY underperforms post-BoJ, AUD pressured post-RBA
- Bonds incrementally firmer as attention turns to US 20yr supply
- Crude and XAU are modesty softer, weighed on by the stronger...
19 Mar 2024, 06:33 by Newsquawk Desk
- APAC stocks traded mixed as markets digested the first of this week's central bank announcements.
- BoJ carried out a widely telegraphed and dovish exit from NIRP, YCC and ETF/J-REIT buying.
- RBA kept rates unchanged whilst providing a dovish tweak to its guidance on rates.
- JPY and AUD lag peers post-rate decisions with USD/JPY back on a 150 handle.
- European equity futures indicate a slightly lower open with the Euro...
18 Mar 2024, 10:55 by Newsquawk Desk
- Equities are in the green amid a constructive risk tone; Nvidia gains pre-market ahead of its GTC
- Dollar is flat, JPY is modestly softer and back on a 149 handle ahead of BoJ on Tuesday
- Bonds are incrementally weaker, though with price action contained
- Crude is firmer following constructive Chinese activity data and heightening geopolitical tensions
- Looking ahead, comments from Nvidia CEO...