26 Jan 2021, 11:50 by Newsquawk Desk
- European bourses were initially mixed following the subdued APAC lead but have since experienced notable upside amid a lack of fresh catalysts; Euro Stoxx 50 +1.4%, ES U/C
- Italian PM Conte has reportedly informed his cabinet of his intention to resign and is to meet with President Mattarella on the matter today
- US Senate Democrat Leader Schumer said they will attempt to pass President Biden's COVID-19 bill through the budget reconciliation process if the GOP block...
26 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets declined across the board with sentiment subdued after the flimsy risk appetite amongst global peers
- Italian PM Conte has convened a cabinet meeting for Tuesday to inform ministers he is resigning; will likely seek to form a new government
- In FX, the USD is broadly firmer against major peers with activity currencies lagging against the greenback
- US Senate Democrat Leader Schumer said they will attempt to pass President...
25 Jan 2021, 11:56 by Newsquawk Desk
- European indices faded opening gains in-light of a subdued German Ifo print and in contrast to the firmer APAC handover; Euro Stoxx 50 -0.1%, ES +0.2%
- German Ifo (Jan) readings missed expectations and dropped from the prior with the institute noting services continues to represent the majority of the decline
- EUR was hampered post-Ifo lifting the DXY into positive territory and applying pressure on major counterparts though magnitudes are slim at...
25 Jan 2021, 09:00 by Newsquawk Desk
- MON: German Ifo Survey (Jan); EZ Sentiment Survey (Jan); Chinese President Xi to speak.
- TUE: UK Employment data (Dec).
- WED: FOMC Policy Decision; Australian CPI (Q4); German GfK Survey; US Durable Goods (Dec); Japanese Retail Sales (Dec); New Zealand Trade Balance (Dec).
- THU: German Prelim CPI (Jan); US GDP (Q4) & PCE Prices (Dec); Japanese Unemployment Rate (Dec).
- FRI: BoJ Summary of Opinions (Jan);...
25 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets began the week with a mildly positive tilt whilst US equity futures rebounded from Friday’s losses, although upside was limited
- In FX, the DXY heads into the EU session softer, prompting support in major counterparts with GBP/USD reclaiming 1.37 status
- China is looking for a meeting of its top diplomat with senior aides in the Biden administration, according to WSJ
- Iraq plans to reduce oil output in January and February...
22 Jan 2021, 11:54 by Newsquawk Desk
- Indices remain pressured following cautious APAC trade with downside exacerbated by the deterioration in oil; Euro Stoxx 50 -1.2%, ES -0.7%
- The EUR saw a resurgence following the German PMIs with EUR/USD just below 1.2200 at best to the detriment of the DXY paring its advances and bolstering FX peers; though, GBP was hindered post-UK data
- Intel beat on EPS and revenue making gains just before the close before paring to trade lower by 4% in the pre-market while IBM's...
22 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded cautiously after the mixed lead from Wall St where most indices stalled at record levels
- The Nasdaq was bolstered by continued strength in large tech including firm gains in Intel which announced its results prior to the closing bell
- US Treasury Secretary nominee Yellen said the US has a full array of tools to counter China's practices
- In FX markets, the DXY remained subdued, EUR/USD held on to yesterday's gains...
21 Jan 2021, 11:40 by Newsquawk Desk
- Indices are firmer this morning with European tech the outperformer following yesterday's Nasdaq performance; currently, ES +0.1% & NQ +0.4%
- BoJ, Norges Bank & CBRT left policy parameters unchanged with the ECB ahead; the EUR is currently firmer bolstered alongside peers as the USD remains pressured across the board
- Republican Senator Graham commented that the USD 15/hour minimum wage will not be included in the stimulus plan
- Looking...
21 Jan 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses took impetus from the gains on Wall Street where stocks rallied to all-time highs and the Nasdaq outperformed
- BoJ kept policy settings unchanged as expected whilst reiterating that it will not hesitate to act further if needed
- In FX, the DXY was subdued beneath 90.50, EUR/USD reclaimed 1.21 and GBP/USD eyes 1.37 again
- US Republican Senator Romney said he is not looking for new stimulus in the immediate...
20 Jan 2021, 11:59 by Newsquawk Desk
- European indices and US futures are firmer this morning, Euro Stoxx 50 +0.6% & ES +0.4%, but with the Nasdaq +0.8% leading the way after updates from Netflix and European tech giant ASML
- US President-elect Biden's incoming Secretary of State Blinken said President Trump was right in taking a tougher stance on China but disagrees with the way he did it
- ECB is reportedly to pursue a strategy of yield spread control with the purpose of limiting the spreads between...
20 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mostly positive as the region partially sustained the momentum from the tech-led gains on Wall St
- US President-elect Biden's incoming Secretary of State Blinken said President Trump was right in taking a tougher stance on China but disagrees with the way he did it
- ECB is reportedly to pursue a strategy of yield spread control with the purpose of limiting the spreads between strongest and weakest EU economies
- Italian...
19 Jan 2021, 11:50 by Newsquawk Desk
- Indices are firmer this morning with the gains more pronounced stateside vs Europe, Euro Stoxx 50 +0.2%, ES +0.8%, while the RTY outperforms +1.3% ahead of Yellen's hearing
- Treasury Secretary nominee Yellen is expected to call for big action to spur a recovery
- German Chancellor Merkel is reportedly looking to extend the German lockdown to February 15th
- Italian PM Conte won a vital confidence vote in the House while he faces a more difficult...
19 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets mostly rallied with risk appetite spurred as trade picked up from Monday’s holiday lull
- Italian PM Conte won a vital confidence vote in the Chamber of Deputies and now faces a more difficult test at the Senate on Tuesday
- The DXY retreated further away from its recent failed attempt to surmount 91.00, EUR/USD eyes 1.21, GBP/USD reclaimed 1.36
- Treasury Secretary nominee Yellen is expected to call for big action to spur a...
18 Jan 2021, 09:00 by Newsquawk Desk
- MON: Chinese GDP (Q4), Industrial Production (Dec) and Retail Sales (Dec); Eurogroup Meeting; US Martin Luther King Jr. Day.
- TUE: German ZEW Survey (Jan); EU Economic and Financial Affairs Council.
- WED: US President-elect Biden's inauguration; PBoC LPR Setting (Jan); BoC Policy Decision; German GfK Sentiment (Feb); UK Inflation (Dec); EZ CPI Final (Dec); Canadian CPI (Dec); Japanese Trade Balance (Dec).
- THU: ECB Policy Decision; BoJ...
18 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets began the week cautiously after Friday’s losses on Wall St. Mixed Chinese GDP added to the tentative mood for stocks
- Chinese GDP Q/Q disappointed, Y/Y growth beat, while Industrial Production also exceeded expectations but was offset by softer Retail Sales
- In FX, the DXY saw choppy price action overnight, EUR/USD trades sub-1.21, GBP/USD sits below 1.36
- UK Chancellor Sunak is reportedly planning to start increasing taxes...
15 Jan 2021, 11:49 by Newsquawk Desk
- Sentiment has continued to slip after a tentative APAC session, Euro Stoxx 50 -0.6%, ES -0.5%, after Biden's largely as expected rescue plan announcement
- President-elect Biden unveiled his USD 1.9tln rescue plan which included a boost in stimulus payments to USD 2,000
- Biden will announce his recovery plan in February and cautioned that everyone will need to pay their fair share of taxes
- USTs are firmer this morning with 10yr yield at 1.11%...
15 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets were subdued after failing to shrug-off the weak lead from the US where major indices were dragged lower
- President-elect Biden unveiled his USD 1.9tln rescue plan which included a boost in stimulus payments to USD 2,000
- Biden will announce his recovery plan in February and cautioned that everyone will need to pay their fair share of taxes
- Fed Chair Powell suggested the time to raise rates is not going to be anytime soon...
14 Jan 2021, 11:50 by Newsquawk Desk
- European bourses are largely unchanged, Euro Stoxx 50 +0.1%, with cyclicals outperforming (RTY +0.8%) ahead of Biden alongside European tech bolstered by TSMC earnings
- President-elect Biden’s stimulus plan could be valued at USD 2tln which would be USD 700bln greater than what Senate Democrat Leader Schumer had been calling for
- USD has been erring lower after the DXY failed to breach 90.50 with antipodeans bolstered on China trade data while the EUR is capped by...
14 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed with cautious gains in the major regional bourses after the tech-rebound on Wall St. and better than expected Chinese trade data
- In FX, DXY is firmer and briefly eyed 90.50, EUR/USD sits just above 1.2150 and GBP/USD remains on a firm footing above 1.36
- President-elect Biden’s stimulus plan could be valued at USD 2tln which would be USD 700bln greater than what Senate Democrat Leader Schumer had been calling...
13 Jan 2021, 11:53 by Newsquawk Desk
- European indices have been somewhat choppy but relatively contained thus far, Euro Stoxx 50 -0.1%; with similar performance in US futures ES -0.1%
- US Officials have reportedly been told that JNJ is up to two-months behind its COVID-19 vaccine production schedule, NY Times
- US House voted to urge VP Pence to begin the 25th Amendment process to remove President Trump from office
- US President-elect Biden is to seek a deal with Republicans on...
13 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets mostly lacked firm direction as bourses took their cue from the rangebound session in the US where tech losses were offset by cyclicals
- In FX markets, the DXY briefly slipped below 90.00, EUR/USD reclaimed 1.22 and GBP/USD eyes 1.37
- Several FOMC speakers pushed back on the prospect of tapering bond purchases
- US House voted to urge VP Pence to begin the 25th Amendment process to remove President Trump from...
12 Jan 2021, 11:59 by Newsquawk Desk
- European bourses are somewhat mixed, Euro Stoxx 50 -0.2%, in a continuation of the mixed APAC session but magnitudes are overall somewhat more modest; ES +0.2%
- USD is broadly unchanged in-spite of coming under pressure via GBP as the BoE Governor highlighted issues regarding NIRP, in contrast to remarks from the likes of Tenreyro yesterday; paring back implied pricing for such a policy
- US President Trump's administration is set to deliver fresh guidelines today that...
12 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded cautiously as the region struggled to break from the weak performance among global peers
- In FX markets, the DXY holds on to gains around 90.50, EUR/USD hovers around 1.2150 and Cable maintains 1.35+ status
- House Majority Leader Hoyer commented that there may very well be a vote on impeachment this Wednesday
- EU is reportedly working on an Airbus (AIR FP) - Boeing (BA) trade offer for the upcoming Biden...
11 Jan 2021, 11:41 by Newsquawk Desk
- European indices began the week on the backfoot, Euro Stoxx 50 -0.4%, following a similar APAC handover; stateside, ES -0.5%
- US National Security Adviser O'Brien said the US is examining additional options to respond to China regarding the virus and Hong Kong
- Secretary of State Pompeo announced the US is to remove all self-imposed restrictions on executive branch agencies’ interactions with their counterparts from Taiwan
- US House Speaker...
11 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets began the week indecisively as ongoing COVID-19 concerns and US-China tensions contributed to the cautious mood
- Secretary of State Pompeo announced the US is to remove all self-imposed restrictions on executive branch agencies’ interactions with their counterparts from Taiwan
- US National Security Adviser O'Brien said the US is examining additional options to respond to China regarding the virus and Hong Kong
- In FX...