05 Mar 2021, 12:00 by Newsquawk Desk
- European equity indices have been somewhat choppy within ranges printing a slightly mixed performance while US futures are contained but erring higher
- DXY strengthens post-Powell to the detriment of peers though yields are steady but at comparatively elevated levels pre-NFP
- Crude surges after the OPEC+ confab aided by forecast upgrades from a number of banks
- China targets ’21 GDP growth of above 6% with CPI target ̴ 3% & budget deficit...
05 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses extended on recent declines amid spillover selling from the US where tech took the brunt again and the bond rout persisted
- Fed Chair Powell stuck to a dovish script and noted that that the current stance is appropriate which came as a disappointment for those awaiting commentary on SLR adjustments, YCC or operation twist
- BoJ Governor Kuroda said the BoJ will likely debate whether to expand the implicit band for the 10yr JGB yield...
04 Mar 2021, 12:00 by Newsquawk Desk
- European equity indices & US futures are negative with RTY the underperformer, -1.0%
- DXY strengthens pre-Powell to the detriment of peers who reside predominantly negative
- Crude has been tempered ahead of the OPEC+ confab whilst precious metals trade lacklustre
- WHO said COVID infection rates have risen in Europe after six weeks of decline
- Looking ahead, highlights include US IJC, Challenger Layoffs & Factory...
04 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets declined across the board as the region followed suit from the losses on Wall St
- US tech stocks underperformed and sentiment was pressured by a resumption of rising yields
- The DXY held on to most of yesterday's gains around 91.00, EUR/USD oscillated around 1.2150, GBP/USD remains sub-1.40
- Fed's Evans said he does not expect the FOMC will need to change the duration of bond purchases and views the current increase in...
03 Mar 2021, 11:55 by Newsquawk Desk
- European equity indices & US futures are firmer with RTY the outperformer, +1.2% & DAX cash printed record highs
- DXY is choppy with peers mixed at present and USD/JPY nearing 107.00 while GBP is erring higher pre-budget (12:30GMT/07:30EST)
- ECB sources state no need for drastic action to curb advances in yields, supressing core debt/elevating yields while UST yields bear-steepen
- Crude has been bolstered by OPEC+ sources around no...
03 Mar 2021, 06:54 by Newsquawk Desk
- An improved mood was observed in Asia as equity markets shrugged off the weak handover from Wall Street
- Major US indices declined as tech lagged again with regulatory concerns also adding to the selling pressure
- Chinese Caixin Services PMI printed its lowest reading since April last year
- In FX, the DXY languished below 91.00, EUR/USD plateaued below 1.21 and GBP sits on a 1.39 handle ahead of the budget
- OPEC+ is...
02 Mar 2021, 11:56 by Newsquawk Desk
- European equity indices stabilise but US futures are softer with RTY the underperformer, -0.9%
- The DXY has seen upside to the modest detriment of major peers, though off highs/lows respectively, while yields continue to consolidate
- EZ CPI was as expected whilst Germany will reportedly extend its lockdown to March 29th
- Crude remains underpinned ahead of OPEC+ but has drifted off lows while precious metals are somewhat...
02 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets whipsawed as risk momentum gradually waned despite the region initially taking impetus from the rally on Wall St
- All major US indices notched substantial gains with the S&P 500 posting its best performance in almost nine months
- The US will examine how the Treasury, Commerce Department and USTR can work together to deter currency intervention for trade advantages
- In FX markets, the DXY extended on gains above 91.00,...
01 Mar 2021, 11:52 by Newsquawk Desk
- European equity indices and US futures are firmer on the session with RTY the outperformer, +2.0%
- DXY has seen upside & hovers around the 91.00 handle, with lower-yield peers underperforming while US 10yr yields stabilise
- Johnson & Johnson's COVID-19 single-dose vaccine has received approval from US authorities
- Chinese Official Manufacturing PMI and Caixin Manufacturing PMI missed expectations but remained in expansion...
01 Mar 2021, 06:54 by Newsquawk Desk
- Asian equities saw a recovery from Friday's losses alongside a rebound in bond markets; US 10yr yield currently ~1.40%
- Johnson & Johnson's COVID-19 single-dose vaccine has received approval from US authorities
- Chinese Official Manufacturing PMI and Caixin Manufacturing PMI missed expectations but remained in expansion territory
- In FX markets, the DXY sits circa 90.80, EUR/USD met resistance at 1.21 and GBP/USD eyes 1.40 to the upside...
26 Feb 2021, 12:00 by Newsquawk Desk
- European equities pressured. US futures softer, but to a lesser extent; E-mini S&P -0.1%
- DXY has seen upside and resides near best levels after surmounting 90.50, to the detriment of its broader peers
- US President Biden's USD 15/hr minimum wage proposal was ruled out of order for the Senate relief bill
- US Treasuries has already secured a foothold overnight; US 10yr yield steady below 1.5%
- Looking ahead,...
26 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks slumped after reacting to the sell-off on Wall St amid a global bond rout and surge in yields
- Fed speakers once again provided very little pushback to the rising yield environment; US 10yr breached 1.6% yesterday
- In FX markets, the DXY remains firmer but retreated marginally alongside the pullback in the US 10yr yield back below 1.5%
- US Pentagon confirmed reports that the US conducted a strike on Iranian-backed militia in...
25 Feb 2021, 11:57 by Newsquawk Desk
- European equity indices were firmer across the board but are now a touch mixed in-fitting with US equity futures where the NQ is underperforming, -0.9%
- DXY has seen downside and resides at its lowest level just maintaining 89.70 to the benefit of its broader peers though JPY remains hindered given rate-differentials
- US yields remain elevated and the curve continues to steepen as the 10yr eclipsed y-day's peak with global yields seeing upside though ECB's Lane has...
25 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks rebounded from yesterday’s sell-off after the region took impetus from the strong performance on Wall St
- Bank of Korea maintained the 7-Day Repo Rate at 0.50% as expected through a unanimous decision
- A study tracking the use of the Pfizer/BioNTech vaccine in Israel shows that the vaccine is 94% effective in preventing symptomatic cases
- In FX, the DXY lacked firm direction and traded either side of 90.00, EUR/USD extended...
24 Feb 2021, 11:45 by Newsquawk Desk
- European equity indices (ex-FTSE 100) and US futures are firmer on the session with RTY the outperformer, +0.7%
- US 10yr yields are flat on the session at 1.3680%; DXY has seen slight upside after initial downside where it lost the 90.0000 handle
- WTI and Brent are positive and in proximity to best levels ahead of the EIA report
- US FDA is planning to unveil its detailed analysis on Johnson & Johnson's COVID-19 vaccine later...
24 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded lacklustre following on from the mixed performance stateside where the major US indices spent most of the session clawing back early tech-led declines
- Hong Kong announced it will increase stamp duty for stock trading to 0.13% from 0.10%
- RBNZ kept the OCR at 0.25% and LSAP at NZD 100bln as expected
- In FX, the DXY maintained 90.00 status, EUR/USD oscillated around 1.2150, GBP/USD pulled back from its advance above...
23 Feb 2021, 11:45 by Newsquawk Desk
- Equity indices are notably pressured, Euro Stoxx 50 -1.5%, while the FTSE 100 -0.8% is the relative-outperformer and NQ, -1.7%, underperforms as tech lags; TSLA -6.0%
- Crude remains underpinned but has given up earlier highs given the broader deterioration while precious metals are hindered but XAU fares comparatively better
- The USD has derived support from the broader sentiment to the modest, and mixed, detriment of major peers while USTs lift slightly and yields...
23 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets eventually traded mostly positive after initial choppy price action following on from the mostly negative lead via Wall St
- Sentiment in the US was pressured amid underperformance in tech and continued increases in yields
- In FX, the DXY continued to fade yesterday’s initial strength, EUR/USD resides above 1.2150, GBP/USD firmly on a 1.40 handle
- The US House Budget Committee advanced the USD 1.9trln COVID-19 aid bill as...
22 Feb 2021, 11:45 by Newsquawk Desk
- European indices and US futures are seeing downside as the NQ -1.2% underperforms in-fitting with the tech sector lagging; while crude remains supported
- US yields continue to extend, 10yr overnight peak 1.3940%, the debt itself is off-lows given the broader tone though still subdued
- Pfizer/BioNTech COVID-19 vaccine is said to be 98.9% effective at preventing COVID-19 deaths and was 89.4% effective at preventing laboratory-confirmed...
22 Feb 2021, 09:00 by Newsquawk Desk
- MON: PBoC LPR Setting; Bank of Israel Policy Announcement; German Ifo Survey (Feb); New Zealand Retail Sales (Q4)
- TUE: UK Employment Report (Dec) and Claimant Count (Jan); EZ CPI Final (Jan)
- WED: RBNZ Policy Announcement; German GDP (Q4)
- THU: BoK Policy Announcement; German GfK Consumer Sentiment (Mar); EZ Sentiment Survey (Feb); US Durable Goods (Jan); GDP 2nd Estimate (Q4); Australian capex; New Zealand Trade Balance...
22 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets began the week indecisively with weekend newsflow not providing much to spur sentiment in either direction
- In FX, the DXY remains supported with the US 10yr yield reaching 1.3940% overnight. GBP/USD maintains 1.40 status
- UK PM Johnson is to announce his roadmap for exiting lockdown to Parliament at 1530GMT. Press conference at 1900GMT
- UK Chancellor Sunak is reportedly set to hike UK corporation tax in the Budget...
19 Feb 2021, 11:55 by Newsquawk Desk
- European indices and US futures are supported as the RTY +0.9% outperforms with US yields firmer but off highs
- Crude is under pressure, but off lows, as Texas weather and potential geopolitical risk-premia begins to unwind
- Biden will reportedly say the US is not looking for a cold war with China but parties should work to challenge abusive practices, ahead of today's summit
- Flash PMIs have been broadly firmer, with UK Services and German...
19 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded negatively following a weak handover from Wall St where the major indices declined
- House Speaker Pelosi said the House will vote on the USD 1.9trln stimulus bill at the end of next week
- Senior Democrats discussed proposing as much as USD 3tln of additional spending on a jobs and infrastructure package
- In FX markets, the DXY hovers around 90.50, EUR/USD eyes 1.21 and GBP/USD remains on a 1.39...
18 Feb 2021, 11:55 by Newsquawk Desk
- European indices and US futures are softer on the session as the NQ -0.8% continues to lag and European sectors are dictated by earnings; Euro Stoxx 50 -0.3%, ES -0.4%
- Study on the Pfizer/BioNTech vaccine seemingly indicates that it is significantly less effective on the South African variant
- WTI and Brent have drifted from best levels but remain supported by the ongoing US weather situation; APIs printed a larger than expected draw last...
18 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded indecisively as the region took its cue from a similarly uninspiring lead from the US
- FOMC minutes proved to be uneventful in which the account noted that the Fed is still far from its inflation and employment goals
- The DXY held firm after its brief incursion above 91.00, EUR/USD capped by 1.2050, GBP/USD stuck on a 1.38 handle
- Italian PM Draghi's government won a vote of confidence at the...