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  • 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...
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  • 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...
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  • 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...
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  • 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%...
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  • 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...
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  • 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...
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  • 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...
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  • 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...
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  • 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...
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  • 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...
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  • 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...
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  • 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...
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  • 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...
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  • European indices saw a positive start to the session, bolstered in particular by tech; but, have since pulled back to a slightly more mixed performance overall as banks slip, Euro Stoxx 50 +0.4%, ES +0.3%
  • The USD began firmly on the front-foot aided by further upside for US yields, 10yr at 1.08%; however, the DXY has dropped back below 90.00 with the broader complex now mixed
  • US President-elect Biden is reportedly mulling a 'one-two' stimulus jab involving the...
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  • Asian equity markets traded mostly positive on momentum from the fresh all-time highs on Wall St where the Nasdaq led the advances
  • In FX markets, the DXY briefly tested 90.00 to the upside, weighing on EUR/USD and GBP/USD
  • President Trump condemned the riots and stated that his focus was on a smooth and orderly transition
  • Reports suggest that VP Pence is against invoking the 25th Amendment to remove President Trump
  • US...
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  • Indices are somewhat mixed, Euro Stoxx 50 U/C and ES +0.2%, as the modestly pro-cyclical start to the European session fizzled out
  • DXY has seen a marked recovery from the session low, with the index in proximity to 90.00 at best; with the US 10yr yield at 1.03%, though USTs themselves are relatively unchanged
  • The US Congress has certified the 270 electoral college votes required for President-elect Biden to secure the Presidency
  • US President...
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  • Asia-Pac bourses traded mostly higher as the region reacted to the gains on Wall St (ex-Nasdaq) post-Georgia election
  • US Congress paused the election certification for several hours and Capitol Hill staff were told to evacuate amid chaos after pro-Trump protestors broke through barriers and sieged the Capitol
  • FOMC minutes were uneventful and did not suggest any imminent changes in asset purchases
  • In FX markets, the DXY heads into the EU open...
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  • Desks have called Warnock (D) as the winner against incumbent Loeffler (R); while Ossoff (D) currently leads against Perdue (R) - but, thus far most major outlets have not called this race
  • Given the seeming result of Democrats controlling the Presidency, House & Senate the fiscally driven reflation narrative has resumed; RTY +2.4%, NQ -2.2%, US 10yr yield 1.03%, DXY at lows of 89.22
  • US President Trump signed an executive order banning transactions with 8 Chinese...
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  • In Georgia, Democrat Warnock leads Republican incumbent Loeffler at 50.4% vs 49.6% and Democrat Candidate Ossoff is in a virtual tie with Republican incumbent Perdue at 50% vs 50% with around 97% of votes counted in both races
  • US equity index futures head into the EU open softer, albeit the magnitude of price action is limited amid the close nature of the Georgia Senate races. US 10yr yield breached 1% to the upside
  • In FX markets, the DXY remains below 89.50,...
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  • Equity performance has been choppy but contained, Euro Stoxx 50 -0.1%, ES +0.2%, as participants weigh further COVID developments ahead of key risk events this week
  • NYSE announced that it is no longer planning to delist Chinese telecom firms
  • OPEC document shows that one scenario developed by OPEC+ include an output reduction of 500k BPD in Feb; meeting to continue today from ~09:30EST/14:30GMT
  • DXY remains pressured with the broader FX space...
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  • Asian equity markets traded cautiously following on from the uninspiring performance on Wall St where major indices declined from record levels
  • NYSE announced that it is no longer planning to delist Chinese telecom firms
  • UK PM Johnson announced a national lockdown in England, as expected from Tuesday until mid-February
  • The DXY consolidated beneath 90.00 after yesterday’s fluctuations, EUR/USD sits above 1.2250 and GBP/USD remained subdued...
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  • European indices are bolstered this morning following a largely firmer APAC handover, Euro Stoxx 50 +0.9%, ES +0.5%, with focus on the week's impending risk events
  • US President Trump was recorded on audio tape to have pressured the Georgia Secretary of State to find enough votes to overturn the result of the Georgia presidential election
  • Chinese Caixin Manufacturing PMI fell short of estimates but still printed an 8th consecutive month in expansionary...
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  • Asian equity markets began 2021 mostly higher while US equity futures traded indecisively after stalling at record levels
  • Chinese Caixin Manufacturing PMI fell short of estimates but still printed an 8th consecutive month in expansionary territory
  • UK PM Johnson has warned that tougher lockdown restrictions might have to be considered; UK begins rollout of the AstraZeneca vaccine today
  • In FX, the DXY initially softened in a continuation of...
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  • Equity price action is contained and somewhat directionless amid the lack of newsflow as we await Brexit/fiscal updates; ES +0.2%, FTSE 100 -0.1%
  • UK PM Johnson and European Commission President von der Leyen expected to hold a call today followed by a press-conference
  • GBP continues to grind higher ahead of this call and press-conference as negotiators discuss the final aspects of the deal; GBP/USD has eclipsed 1.3600 while DXY remains in proximity to lows of...
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  • APAC stocks traded mostly higher following a similar lead from Wall Street; Mainland China lagged
  • UK PM Johnson is expected to make the Brexit deal announcement at around 08:00GMT/03:00EST
  • US GOP Leader McCarthy will object to measure on USD 2,000 checks; House may try to advance an interim spending bill on Monday
  • China is to probe the Alibaba over suspected monopoly; shares fell almost 10%
  • In FX, DXY was softer,...
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