10 Oct 2024, 11:41 by Newsquawk Desk
- European bourses are mostly lower and US futures trade tentatively ahead of US CPI.
- DXY is flat, JPY outperforms following hawkish BoJ Himino commentary.
- USTs are modestly lower potentially pressured by FOMC Minutes/30yr concession; Gilts lag after IFS analysis.
- Crude is firmer, XAU gains and holds comfortably above USD 2600/oz and base metals are mostly in the green.
- Looking ahead, US CPI, Initial Jobless Claims, US...
10 Oct 2024, 06:54 by Newsquawk Desk
- FOMC Minutes stated that some officials would have preferred a 25bps cut, though a substantial majority supported 50bps
- Biden-Netanyahu call was positive; US does not yet know the timing of the strike against Iran
- APAC stocks traded higher, significant outperformance in Hong Kong on fresh PBoC support. European futures point to a slightly firmer open
- DXY rangebound, NZD & AUD outperform given the above and after Wednesday's...
09 Oct 2024, 11:22 by Newsquawk Desk
- European bourses are choppy and trading indecisively on either side of the unchanged mark, but the FTSE 100 outperforms; US futures are modestly lower.
- Dollar is firmer with G10s lower across the board to varying degrees; the Kiwi lags after the RBNZ delivered a widely expected 50bps cut and signalled the likelihood of further easing to come.
- Bonds are incrementally firmer, UK auction garnered solid demand but the tail was still large sparking some modest pressure...
09 Oct 2024, 06:51 by Newsquawk Desk
- APAC stocks traded mixed and initially took impetus from the positive performance on Wall St where the major indices were led higher amid a tech rally.
- China's Finance Ministry is to hold a press briefing on fiscal policy and economic development on October 12th at 10:00 local time (03:00BST/22:00EDT), while it will introduce details of intensifying fiscal policy adjustment
- RBNZ cut the OCR by 50bps to 4.75% and the RBI kept the Repurchase Rate unchanged at 6.50%,...
08 Oct 2024, 11:15 by Newsquawk Desk
- European bourses are subdued across the board, with sentiment hampered after China’s disappointing NDRC press conference; US equity futures are mixed.
- Dollar is slightly lower, JPY is scaling back some recent losses whilst the Aussie is hampered by broader weakness in commodity prices.
- Bonds are flat, having initially opened with a positive bias, UK and German auctions provided no impetus.
- Crude is softer given the broader risk aversion,...
08 Oct 2024, 06:49 by Newsquawk Desk
- APAC stocks were ultimately mixed after the negative lead from Wall St; China's NDRC press conference was met with disappointment.
- European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.8% after the cash market closed higher by 0.3% on Monday.
- DXY is steady on a 102 handle, EUR/USD remains sub-1.10, USD/JPY sits just above the 148 mark.
- New York Times cited officials that stated Israel is likely to...
07 Oct 2024, 11:09 by Newsquawk Desk
- Equities are modestly lower across the board and unable to continue the post-NFP gains seen on Friday.
- Dollar is flat and attempting hold onto its recent gains, JPY firmer vs Dollar whilst the GBP narrowly underperforms.
- Bonds continue to extend on the post-NFP losses with the US 10yr yield now incrementally above 4%; highest since Aug 8.
- Crude is firmer given the geopolitical backdrop, XAU is flat whilst base metals are...
07 Oct 2024, 06:55 by Newsquawk Desk
- APAC stocks began the week on the front foot following last Friday's gains on Wall St owing to the blockbuster jobs report.
- European equity futures are indicative of a positive cash open with Euro Stoxx 50 futures +0.3% after the cash market closed higher by 0.7% on Friday.
- DXY has held onto most of Friday's post-NFP gains, EUR/USD is on a 1.09 handle, USD/JPY briefly traded above the 149 mark overnight.
- Israel continued its wave of...
04 Oct 2024, 13:48 by Newsquawk Desk
- MON: Mainland China market holiday
- TUE: RBA Minutes, EIA STEO
- WED: RBNZ Announcement, RBI Announcement, Bank of Israel Announcement, German Trade Balance (Aug), FOMC Minutes
- THU: ECB Minutes, Norwegian CPI (Sep), US CPI (Sep), French Budget
- FRI: BoC Business Outlook Survey & Canadian Survey of Consumer Expectations, Canadian Jobs Report (Sep), BoK Announcement, UK GDP (Aug), US PPI Final Demand (Sep), US...
04 Oct 2024, 11:09 by Newsquawk Desk
- European bourses are mixed whilst US equity futures trade tentatively on either side of the unchanged mark ahead of today’s US NFP report.
- Dollar is rangebound, GBP and JPY are attempting to claw back some of their recent losses.
- USTs are flat whilst Bunds slip extending on this week’s pressure; Gilts are also on the backfoot fuelled by hawkish-leaning commentary from BoE’s Pill.
- Crude continued to hold an upward bias as focus remains on the...
04 Oct 2024, 06:44 by Newsquawk Desk
- APAC stocks traded mixed amid light pertinent catalysts for the region ahead of the latest US NFP report.
- US dock workers have agreed a deal to end their current strike action.
- European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.9% on Thursday.
- DXY sits just below the 102 mark, JPY outperforms major peers, EUR/USD remains on a 1.10...
03 Oct 2024, 11:46 by Newsquawk Desk
- European bourses are lower across the board (ex-FTSE 100), US futures are in negative terrirtory ahead of today’s US data deluge.
- Dollar is firmer vs G10 peers, GBP underperforms after BoE Governor Bailey said the bank could be a "bit more aggressive" in cutting rates provided the news that inflation continues to be good.
- Bonds are on the backfoot, extending on the pressure seen post-ADP on Wednesday; Gilts outperform following the dovish-leaning Bailey...
03 Oct 2024, 07:08 by Newsquawk Desk
- APAC stocks traded mixed amid the backdrop of several holiday closures and ongoing geopolitical tensions, while Hong Kong participants booked profits.
- Fed's Barkin (2024 voter) said he sees two 25bps cuts this year as "a reasonable path" if the economy evolves as expected.
- BoE Governor Bailey said the bank could be a "bit more aggressive" in cutting rates provided the news that inflation continues to be good, in an interview with The...
02 Oct 2024, 11:18 by Newsquawk Desk
- European bourses are generally on a firmer footing whilst US futures are modestly lower with slight underperformance in the RTY
- Dollar is flat unable to continue the prior day’s geopolitical-indued gains, JPY underperforms with USD/JPY around 144.25
- USTs are flat and Bunds give back some of its recent strength, Gilts follow peers and took another leg lower following an auction
- Crude continues to benefit from the geopolitical risk premium,...
02 Oct 2024, 06:41 by Newsquawk Desk
- APAC stocks traded mixed with some cautiousness seen amid heightened tensions in the Middle East after Iran conducted a missile attack on Israel.
- Israeli officials cited by Axios said Israel will launch a strong response within days, which could target oil production facilities inside Iran.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 0.9% on...
01 Oct 2024, 11:24 by Newsquawk Desk
- Equities are mixed ahead of US ISM Manufacturing and JOLTS data; RTY marginally underperforms
- Dollar is firmer continuing the gains seen post-Powell on Monday, EUR was fairly unreactive to EZ Manufacturing PMIs/HICP
- USTs are firmer and back to pre-Powell levels, Bunds also gain but were unmoved by the EZ PMIs which were revised modestly higher but the overall growth narrative remains weak
- Crude continues to slip, XAU gains and base metals...
01 Oct 2024, 06:46 by Newsquawk Desk
- APAC stocks began the new quarter mixed amid a slew of data releases and several key market closures with Mainland China, Hong Kong and South Korea closed
- Fed Chair Powell hinted at a return to 25bp rate cuts and noted that the Fed is not in a rush to cut rates quickly.
- Israeli military said it began limited, localised and targeted raids against Hezbollah targets in the border area of southern Lebanon.
- European equity futures are...
30 Sep 2024, 11:13 by Newsquawk Desk
- European equities post losses to varying degrees, with autos hit after several guidance cuts; US equity futures are flat/subdued with the focus on Fed Chair Powell later.
- Dollar is slightly softer, Antipodeans benefit from the positivity surrounding China whilst the traditional havens CHF & JPY lag.
- Bonds are modestly softer to varying degrees; Bunds were not too reactive after the German Regional CPI metrics painted a picture of cooling Y/Y inflation ahead of...
30 Sep 2024, 06:56 by Newsquawk Desk
- APAC stocks were mixed heading into month-end amid the backdrop of recent geopolitical escalation and as participants digested a slew of data releases.
- Chinese PMI data was overall mixed but included a contraction in both official and Caixin Manufacturing PMIs.
- Reports suggest that Israeli forces are concentrated on the northern front and preparing for a ground invasion of Lebanon.
- European equity futures are indicative of a positive...
27 Sep 2024, 13:10 by Newsquawk Desk
- MON: Chinese NBS & Composite PMIs (Sep), Caixin PMIs (Sep), Japanese Retail Sales (Aug), German Retail Sales (Jun), UK GDP (Q2), Swiss KOF (Sep), German Flash CPI (Sep), UK Mortgage Approvals/Lending (Aug), US Dallas Fed Index (Sep), New Zealand NZIER (Q3) ; Canada Holiday.
- TUE: Riksbank Minutes, EZ/UK/US Final Manufacturing PMI (Sep), EZ Flash CPI (Sep), US ISM Manufacturing PMI (Sep), US JOLTS (Aug), Mainland China and Hong Kong market holiday.
- WED:...
27 Sep 2024, 11:03 by Newsquawk Desk
- European bourses are very modestly firmer, whilst US equity futures are mixed ahead of US PCE
- Dollar is stronger vs peers, but losing vs JPY after hawkish candidate Ishiba won the Japanese LDP leadership race to become the next Japanese PM
- Bunds outperform following softer-than-expected inflation metrics out of Spain & France; figures which led to further dovish repricing for the ECB’s October meeting
- Crude oil is modestly firmer with...
27 Sep 2024, 07:03 by Newsquawk Desk
- APAC stocks followed suit to the gains on Wall St; Chinese stimulus remained the main driving force overnight.
- Nikkei 225 and USD/JPY upside were seen as dovish LPD candidate Takaichi is said to face Ishiba in Japan's LDP runoff.
- Fed's Cook (voter) said upside risks to inflation have diminished and downside risks to employment have increased.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.3%...
26 Sep 2024, 11:22 by Newsquawk Desk
- Equities are entirely in the green, with optimism lifted amid Chinese stimulus efforts; MU +15% pre-market after strong earnings and solid guidance
- Dollar is softer, Antipodeans benefit from the risk-tone but weighs on the JPY
- USTs are flat, EGBs benefit on reports that ECB doves are pushing for an October cut and amid reports surrounding France’s fiscal situation
- Crude tumbles on constructive geopolitical updates, XAU and base metals...
26 Sep 2024, 06:57 by Newsquawk Desk
- APAC stocks shrugged off the subdued handover from Wall St and the recent geopolitical escalation, as some 'progress' was said to be made regarding a temporary ceasefire proposal and a 21-day ceasefire was proposed by US and France, while China benefitted again from stimulus.
- "Senior US officials have said that they expect a ceasefire deal to be implemented "in the coming hours" along Israel-Lebanon border", according to Walla News' Elster.
- China Politburo held...
25 Sep 2024, 11:31 by Newsquawk Desk
- Equity futures are generally modestly lower, giving back some of the prior day’s gains
- G10s are flat/lower against the Dollar to varying degrees, JPY underperforms with USD/JPY up to a 144.25 peak
- USTs are essentially flat, Gilts dip lower following a weak auction which also weighed on Bunds
- Crude is modestly lower, XAU is flat and base metals take a breather from the China stimulus-related gains on Tuesday
- Looking...