02 Dec 2022, 14:07 by Newsquawk Desk
- MON: Eurogroup; Chinese Caixin Services PMI (Nov), EZ, UK & US Composite/Services PMI Final (Nov), EZ Retail Sales (Oct), US ISM Services PMI (Nov).
- TUE: RBA Policy Announcement; Norges Bank Regional Network (Q4), US Georgia Runoff, EIA STEO; German Industrial Orders (Oct), EZ & UK Construction PMI (Nov), Canadian Ivey PMI (Nov).
- WED: BoC, BCB & NBP Policy Announcements; Australian Real GDP (Q3), Chinese Trade Balance (Nov), Swiss Unemployment...
02 Dec 2022, 11:15 by Newsquawk Desk
- Equities in Europe are mostly mildly softer with the ranges particularly narrow ahead of the US jobs report; US futures in-fitting
- DXY is under pressure with peers modestly firmer and JPY outpacing given yield differentials and Tamura's remarks
- Bunds are modest bid but failed to breach 143.00 with USTs essentially unchanged pre-NFP
- Crude benchmarks similarly contained awaiting oil cap/OPEC+ developments
- Beijing City...
02 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks were subdued following the uninspired lead from the US ahead of the looming NFP jobs report.
- European equity futures were slightly lower with the Euro Stoxx 50 future down 0.2% after the cash market closed with gains of 0.5% yesterday.
- DXY remains sub 105, EUR/USD breached 1.05 to the upside, GBP narrowly lags G10 FX, NZD is the modest outperformer.
- EU officials are to resume discussions to break the deadlock on a price cap for...
01 Dec 2022, 11:25 by Newsquawk Desk
- European bourses have benefited from the post-Powell surge, US futures more contained pre-data
- Additional support derived in APAC hours from China's PMIs and COVID adjustments
- DXY remains downbeat given the dovish Powell reaction, JPY is the standout beneficiary given rate differentials
- EGBs are bid with pricing for December's ECB tilting towards 50bp given the magnitude of overnight price action, Lane speaks...
01 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks took impetus from the strong rally on Wall Street (SPX +3.06%, NDX +4.58%) after Fed Chair Powell’s speech.
- Fed Chair Powell said it makes sense to moderate the pace of interest rate hikes, adding he does not want to over-tighten but cutting rates is not something to do soon.
- Chinese Vice Premier Chunlan noted that the country’s fight against COVID is entering a new phase, while Caixin Manufacturing PMI topped...
30 Nov 2022, 11:25 by Newsquawk Desk
- European equities trade on a firmer footing following mixed leads from Wall St, with eyes set on Fed Chair Powell
- DXY under pressure after failing to surpass 107.00 overnight, Cable above 1.20 with antipodeans leading
- Yuan, base metals and COVID-sensitive areas supported following the latest China testing/restriction alterations
- Core bonds dented as core EZ inflation fails to decline, USTs directionally in-fitting but little changed overall...
30 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks eventually traded mostly higher although gains were capped following the subdued handover from Wall St and disappointing Chinese PMI data.
- European equity futures were positive with the Euro Stoxx 50 future up 0.5% after the cash market closed flat yesterday.
- DXY ran out of steam ahead of 107, EUR/USD and Cable reside on 1.03 and 1.19 handles respectively, NZD outperforms.
- OPEC+ is likely to keep output levels flat at the Sunday...
29 Nov 2022, 11:20 by Newsquawk Desk
- European bourses trade mixed after the initial China-led optimism petered out in early European hours, Euro Stoxx 50 +0.2%.
- US futures are supported but off best levels ahead of Powell on Wednesday and data points thereafter, ES +0.3%
- USD remains underpinned above 106.00 after Monday’s Fed speak, but is softer overall with antipodeans leading
- Crude benchmarks are bid on speculation around China’s COVID controls easing, with participants also...
29 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks were mostly positive with the improvement in risk appetite spurred after China protests were clamped down on by police.
- Fed's Bullard said markets are underpricing the risk that the Fed may be more aggressive, Williams sees a somewhat higher rate path in 2023 vs the September SEPs.
- European equity futures were slightly positive with the Euro Stoxx 50 future up 0.1% after the cash market closed down by 0.6% yesterday.
- DXY...
28 Nov 2022, 11:20 by Newsquawk Desk
- Cash bourses in Europe hold the downside bias seen across APAC stocks overnight which emanated from China reporting a record increase in COVID cases
- Stateside, futures are under similar pressure with the ES below 4000
- USD is under pressure as the risk tone favours JPY & others, alongside month-end models pointing to USD selling
- Initial haven bid in EGBs has faded ahead of Central Bank speak incl. President...
28 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly lower with risk appetite sapped by the ongoing COVID-related issues in China which has resulted in public unrest.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.6% after cash markets closed flat on Friday.
- DXY remains stuck on a 106 handle, EUR/USD lingers around 1.0350, JPY outperforms G10 FX, antipodeans lag.
- Crude declined with Brent beneath USD 82/bbl for the first time...
25 Nov 2022, 13:15 by Newsquawk Desk
- MON: Australian Retail Sales (Oct), EZ M3 (Oct), Japanese Unemployment (Oct), Retail Sales (Oct)
- TUE: Swiss GDP (Q3), EZ Consumer Confidence Final (Nov), German CPI Prelim. (Nov), US Monthly Home Price (Sep)
- WED: Chinese NBS PMIs (Nov), German Import Prices (Oct), Swiss KOF (Nov), German Unemployment (Nov), EZ CPI Flash (Nov), US ADP (Nov), GDP 2nd (Q3), PCE Prices Prelim. (Q3), JOLTS (Oct)
- THU: Chinese Caixin Manufacturing PMI...
25 Nov 2022, 11:10 by Newsquawk Desk
- European bourses and US futures are near the unchanged mark with newsflow limited in holiday-sapped trade
- DXY has experienced a resurgence to 106+ parameters, aided by the PBoC cutting the RRR as touted
- Core fixed is under pressure with Bund’s below yesterday’s trough though holding onto the 141.00 mark; USTs in-fitting directionally
- Crude benchmarks have been grinding higher despite the USD pickup and further China COVID controls, oil price...
25 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mixed with price action mostly rangebound amid a lack of notable newsflow and Wall St. trade.
- European equity futures were uneventful with the Euro Stoxx 50 future -0.1% after cash market closed up by 0.4% yesterday.
- DXY remains on a 105 handle, EUR/USD holds on to 1.04 status, G10 FX is overall relatively contained.
- Crude was marginally higher as top OPEC producers reaffirmed sticking to the OPEC+...
24 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks followed suit to the gains on Wall St with risk sentiment underpinned following the FOMC Minutes which supported the view for the Fed to shift to smaller rate hike increments.
- China reported daily new COVID-19 cases in the mainland reached a record high and ordered a lockdown in Zhengzhou following violent protests.
- European equity futures are essentially unchanged in thin trade ahead of numerous Central Bank speakers.
- DXY is on...
23 Nov 2022, 11:40 by Newsquawk Desk
- European bourses are flat/mixed and have struggled for direction all morning despite fleeting hawkish reactions to the region's PMIs
- Stateside, action is similarly ahead of a somewhat busier data docket on the last full session before Thanksgiving
- DXY reclaims but struggles to advance on 107.00 while Kiwi flies post 75bp RBNZ hike, GBP bolstered by PMIs & a court ruling
- Gilts outperform ahead of supply and BoE's Pill while core EGBs are...
23 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks took impetus from the positive handover from Wall St where sentiment was underpinned amid a global risk revival.
- European equity futures were modestly higher with the Euro Stoxx 50 future +0.3% after cash markets closed up by 0.5% yesterday.
- DXY trades flat just above the 107 mark, EUR/USD is back on a 1.03 handle, NZD is firmer post-RBNZ.
- The RBNZ delivered a historic 75bps rate hike and raised its peak OCR forecasts to 5.50%...
22 Nov 2022, 11:35 by Newsquawk Desk
- European bourses are modestly firmer, Euro Stoxx 50 +0.2%, though fresh developments have been limited and the upside itself is tentative at best.
- USD has lost overnight recovery momentum with peers benefiting across the board with the Kiwi leading ahead of the RBNZ
- Rangebound trade for core fixed income, though intraday boundaries have extended on both sides
- Comparably contained session for the crude complex after yesterday’s pronounced...
22 Nov 2022, 06:45 by Newsquawk Desk
- APAC stocks were mostly positive as regional bourses attempted to recover from the recent China COVID woes.
- European equity futures were modestly higher overnight with the Euro Stoxx 50 future +0.2% after cash markets closed lower by 0.4% yesterday.
- DXY has pulled back after topping out just shy of 108, USD/JPY Is back below 142 and EUR/USD remains stuck on a 1.02 handle.
- Saudi officials denied talk of an increase in OPEC+ oil...
21 Nov 2022, 11:35 by Newsquawk Desk
- European bourses are pressured across the board, Euro Stoxx 50 -0.6%, as China's COVID crackdown weighs on sentiment
- Stateside, futures are similarly impaired at the start of a holiday-thinned week with today's US docket particularly thin ex-supply
- USD has benefited from above risk-aversion with G10 peers lower across the board, particularly Yen & Yuan
- Despite pronounced action earlier on, core fixed benchmarks are in relative proximity...
21 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks began the week mostly lower amid headwinds from China after several areas announced fresh virus restrictions.
- European equity futures were softer overnight with the Euro Stoxx 50 future -0.3% after cash markets closed higher by 1.2% on Friday.
- DXY is back on a 107 handle with EUR/USD, Cable and USD/JPY on 1.02, 1.18 and 140 handles respectively.
- Fed’s Bostic (2024 voter) believes that another 75bps-100bps tightening will be...
18 Nov 2022, 12:51 by Newsquawk Desk
- MON: PBoC LPR & Israel Policy Announcements; German Producer Prices (Oct), US National Activity Index (Oct), New Zealand Trade Balance (Oct), UK CBI Orders (Nov)
- TUE: EZ Current Account (Sep), Canadian Retail Sales (Sep), EZ Consumer Confidence Flash (Nov), US Richmond Fed (Nov), Australian PMIs Flash (Nov)
- WED: RBNZ Policy Announcement, Japanese Holiday; EZ, UK & US PMIs Flash (Nov), US Durable Goods (Oct), University of Michigan Final (Nov), US...
18 Nov 2022, 11:50 by Newsquawk Desk
- European bourses have experienced a firm bounce throughout the morning, Euro Stoxx 50 +1.2%, one which has occurred without a clear fundamental driver.
- Stateside, performance is much the same though magnitudes are a touch more contained, ES +0.6%.
- Core benchmarks are under notable pressure, downside which seemingly commenced without a clear catalyst or driver and prior to the latest remarks from ECB’s Lagarde & TLTRO.III repayment
- DXY...
18 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly firmer as sentiment somewhat picked up following the negative handover from Wall Street
- DXY was choppy on either side of 106.50 but held a downside bias whilst G10s gained and the NZD and GBP outperformed
- European equity futures were firmer overnight, with the Euro Stoxx 50 future +0.7% after cash markets closed lower by 0.1%.
- North Korea fired a missile believed to be an ICBM with the capacity to reach the US...
17 Nov 2022, 11:00 by Newsquawk Desk
- Stocks in Europe are on a mixed footing after scaling back opening gains with no clear fundamental catalyst driving price action thus far ahead of numerous events.
- Similar action in US futures with the ES back below 4k ahead of data, Fed speak and some corporate updates.
- DXY has seen an intra-day recovery from a 106.08 low to a 106.68 peak, with G10 peers now all pressured vs initial modest upside against the Greenback.
- Gilts unchanged ahead...