• European bourses are mixed/modestly-firmer, Euro Stoxx 50 +0.3%, as the initial upside momentum waned amid fresh China COVID updates and hawkish ECB commentary
• Stateside, futures are firmer but similarly off best levels, ES +0.5%, with recent/familiar themes very much in focus ahead of a thin US-specific docket
• EUR lifted and outperforming amid hawkish commentary from ECB’s Lagarde, Kiwi in close proximity amid shadow board guidance
• WTI and...

• APAC stocks were mixed as momentum waned due to China's COVID woes and record Beijing infections
• Australian Labor Party leader Albanese was elected as Australia’s PM and was sworn in on Monday
• Russian negotiator Medinsky said Russia is ready to continue stalled peace talks with Ukraine
• European equity futures are indicative of a firmer open with Eurostoxx 50 +1% after the cash market closed higher by 0.5% on...

• SAT: Australia Federal Election.
• SUN: Davos World Economic Forum (22nd-26th May).
• MON: German Ifo Survey (May); New Zealand Retail Sales (Q1); ISM Semi-Annual Economic Forecast.
• TUE: EZ, UK, US Flash PMIs (May).
• WED: FOMC Minutes; RBNZ Announcement; German Prelim CPI (May); US Durable Goods (Apr).
• THU: BoK Announcement, CBRT Announcement, US GDP 2nd...

• European indices have started the week's last trading day positively and have extended on gains in early trade
• US equity futures have also been trending higher since the reopening of futures trading overnight
• DXY bound tightly to 103.000, but only really firm relative to Yen on renewed risk appetite
• Debt futures reverse course amidst pre-weekend risk revival, partly prompted by PBoC LPR cut
• WTI and Brent July futures...

• APAC stocks picked themselves up from recent losses as risk sentiment improved from the choppy US mood; S&P 500 -0.6%.
• European equity futures are indicative of a higher open with Eurostoxx 50 +1.1% after the cash market closed lower by 1.4% yesterday.
• Russia's Kremlin said Russia will demilitarise regions near the Donbas and forces will take all of the Donetsk and Luhansk regions.
• DXY sits on a 102 handle, EUR/USD briefly rose above...

• European bourses are pressured across the board in a broader risk-off move after yesterday's Wall St. sell-off
• Europe not supported by the brief APAC respite on Shanghai's reopening updates, Euro Stoxx 50 -2.3%; ES -1.2%
• DXY is pressured as havens and antipodeans are bid on risk and fiscal/fundamental factors respectively
• Debt resumes its haven rally, with Bunds eclipsing 154.00 and USTs near 120.00
• Crude curtailed...

• APAC stocks were pressured on spillover selling after the worst day on Wall St in almost two years; S&P 500 -4%
• Shanghai Vice Mayor said Shanghai will expand work resumption in areas with no COVID risk in early June.
• European equity futures are indicative of a weaker open with Eurostoxx 50 -0.6% after the cash market closed lower by 1.4% yesterday.
• DXY remains on a 103 handle, EUR/USD hovers around the 1.05 mark and AUD Leads G10 FX...

• European bourses are rangebound and relatively directionless, Euro Stoxx 50 U/C, taking impetus from a mixed  APAC session which failed to sustain US upside.
• DXY supported, but off best, as GBP slips on marginally sub-forecast CPI while EUR fails to derive support from ECB officials repeating summer guidance
• Gilts the noted outperformer post-CPI, lifting Bunds and USTs with them initially, though the latter two have failed to sustain such...

• APAC stocks traded mixed as regional bourses only partially sustained the momentum from global peers; S&P 500 closed +2%.
• Fed Chair Powell said the Fed will not hesitate to move past neutral and will continue raising rates until they see inflation coming down.
• European equity futures are indicative of a marginally firmer open with Eurostoxx 50 +0.2% after the cash market closed higher by 1.5% yesterday.
• DXY remains on a 103 handle,...

• European bourses are firmer across the board, Euro Stoxx 50 +1.7%, taking impetus from and extending on a positive APAC handover as the region's COVID situation improves
• US futures posting similar performance, ES +1.8%, ahead of Retail Sales and multiple Fed speakers including Powell
• EUR lifted and Bunds dented in wake of ECB's hawk-Knot mentioning a 50bp move should not be excluded if data warrants it
• A remark which lifted EUR/USD above...

• APAC stocks were positive but with gains capped after the uninspiring lead from Wall St; SPX -0.34%, NDX -1.16%.
• EU's Borrell said difficulties remain regarding the required unanimity on the proposed oil ban.
• European equity futures are indicative of a higher open with Eurostoxx 50 +0.9% after the cash market closed down 0.5% yesterday.
• DXY is contained on a 104 handle, JPY lags in G10 FX, AUD leads post-RBA...

• European bourses are mixed, Euro Stoxx 50 -0.6%, following a similar APAC session with impetus from Shanghai's reopening offset by activity data and geopolitics
• Stateside, futures are lower across the board, ES -0.4%, with the NQ marginally lagging as yields lift; Fed's Williams due later before Powell on Tuesday
• Sweden & Finland are moving forward with NATO bids, with Russia pushing back against this; no progress expected today on the EU's 6th sanctions...

• APAC stocks traded mixed after disappointing Chinese activity data clouded over the early momentum from Friday’s rally on Wall St.
• Shanghai will gradually start reopening businesses as of Monday following weeks of strict lockdown.
• European equity futures are indicative of a lower open with Eurostoxx 50 -0.3% after the cash market closed up 2.5% on Friday.
• Turkish President Erdogan’s top adviser Kalin said that Turkey is not closing its door...

• MON: Chinese Retail Sales (Apr).
• TUE: EZ Flash GDP and Employment (Q1); US Retail Sales (Apr); UK Jobs Report (Mar).
• WED: Japanese GDP (Q1); EZ Final CPI (Apr); Canadian CPI (Apr); UK Inflation (Apr).
• THU: ECB Minutes; SARB Announcement; Australian Jobs Report (Apr); US Philly Fed (May); New Zealand Trade Balance (Apr).
• FRI: PBoC LPR; Japanese CPI (Apr); Canadian Retail Sales (Mar);...

• European bourses are firmer as the rebound from Thursday's selloff continues, Euro Stoxx 50 +1.3%; US futures similarly bolstered, ES +1.0%
• Elon Musk says the Twitter (TWTR) deal is temporarily on hold, pending details; TWTR -20% in pre-market
• DXY is off YTD highs but has regained a firmer footing on the session; JPY slips as sentiment recovers
• Core debt has bounced back to unchanged for EGBs after conceding ground on the risk recovery; US...

• APAC stocks were firmer as risk momentum picked up following on from the volatile session on Wall St.
• Fed Chair Powell said whether a soft landing can be executed or not may depend on factors that they cannot control.
• European equity futures are indicative of a higher open with Eurostoxx 50 +1.1% after the cash market closed down 0.9% yesterday.
• DXY has taken a breather from recent advances, EUR/USD remains sub-1.04, antipodeans attempt to...

• US futures are lower across the board though the magnitude is less extreme vs Europe, ES -0.6%, Euro Stoxx 50 -2.5%
• DXY has climbed to a fresh YTD peak, amid broad FX pressure ex-JPY which is supported on haven premium
• As such, core debt has continued to lift with accompanying yields retreating further; US curve flattening pre-supply
• Crude is pressured but off lows following the Russian Kremlin on Finland's NATO bid and N. Korea firing a...

• APAC stocks were pressured after the losses on Wall St where the major indices whipsawed in the aftermath of the firmer than expected US CPI data.
• European equity futures are indicative of a softer open with Eurostoxx 50 -2.3% after the cash market closed with gains of 2.6% yesterday.
• DXY traded indecisively around 104.00, antipodeans lag, USD/JPY is back below 130.00.
• The crypto collapse persisted with Bitcoin breaching the 27,000 level to...

• Stateside, futures are bolstered though with gains marginally more contained vs European-peers going into today's inflation data, ES +1.0%
• Greenback grounded in advance of US CPI as Treasury yields recede and curve re-flattens, DXY slips further below 104.00 and sub-103.50 vs fresh 2022 peak at 104.190 on Monday.
• As such, peers across the board are making gains vs USD; antipodeans leading on base-metals and CHF a relative outperformer after Tuesday's...

• APAC stocks traded mixed following the choppy performance on Wall Street.
• Ukrainian gas transit system operator chief said Russian occupying forces started taking transit gas and sending it to pro-Russian separatist regions.
• European equity futures are indicative of a higher open with Eurostoxx 50 +0.9% after the cash market closed with gains of 0.8% yesterday.
• DXY trades a touch softer after stalling ahead of 104.00, antipodeans lead in the...

• European equities feel some reprieve following the prior session’s selloff; Euro Stoxx 50 +1.2%; US futures similarly bolstered.
• USD retains a firm bid with peers mixed across the board; JPY outpaces while USD/CHF nears parity.
• Core debt continues to bounce after an early breather, action was intensified post-Bobl/Gilt supply.
• Crude benchmarks are pressured, but yet to approach overnight lows, with fundamentals focused on familiar...

• APAC stocks were mostly negative after the resumed sell-off on Wall St where the S&P 500 slipped beneath 4,000 for the first time since March 2021
• EU's Von Der Leyen tweeted that progress was made with Hungary but further work is needed.
• European equity futures are indicative of a marginally higher open with Eurostoxx 50 +0.2% after the cash market closed lower by 2.8% yesterday.
• DXY pulled back from YTD highs and the 104 level,...

• European bourses are lower across the board, Euro Stoxx 50 -1.4%, in a continuation of the APAC handover amid multiple fundamental narratives.
• Stateside, US futures are similarly hindered, ES -1.7%, with the NQ marginally lagging given renewed yield upside.
• Russian President Putin, in his Victory Day speech, says you are fighting for the security of Russia now; says NATO was creating threats at our borders.
• USD remains bid but is marginally...

• APAC stocks declined amid recent upside in yields and as participants digested a slowdown in Chinese trade data
• US equity futures remained weak; European equity futures are indicative of a softer open
• EU ambassadors met on Sunday and failed to agree on a Russian oil ban deal. Ambassadors will meet again on Monday or Tuesday
• In FX, DXY remained firm against G10s across the board; Antipodeans underperformed
• UK...

• MON: Chinese Trade Balance (Apr); EZ Sentix Index (May).
• TUE: Australian Retail Sales (Q1); German ZEW Survey (May); UK Prelim GDP (Q1); EIA STEO.
• WED: Chinese Inflation (Apr); UK GDP Estimate (Mar); US CPI (Apr).
• THU: Banxico; New Zealand Inflation Forecast (Q2); IEA OMR; OPEC MOMR.
• FRI: US Uni of Michigan Prelim Survey (May).

NOTE: Previews are listed in...