• Asian indices are firmer with sentiment bolstered by the US and Mexico reaching an agreement to avoid tariffs
• Sources indicate that ECB policymakers are said to be open to lowering rates if growth weakens
• In FX, the USD has benefited as tariffs were avoided with MXN outperforming; GBP is subdued as the Tory leadership contest begins
• Looking ahead highlights include; UK GDP, Services, Industrial & Manufacturing Output, Canadian Housing...

• European indices [Euro Stoxx 50 +1.0%] are firmer as the positive sentiment rolls over from Asia-Pac session ahead of NFP
• White House Press Secretary Sanders stated that the US is moving ahead with Mexico tariffs, President Trump reportedly plans to declare a national emergency to impose the tariffs
• Looking ahead, highlights include, US & Canadian Jobs Report, Fed's Barkin

ASIA-PAC

Asian equity markets were mostly higher following the tailwinds...

• Asian equity markets were mostly higher following the tailwinds from US where sentiment was underpinned by hopes of averting tariffs on Mexico
• However, White House Press Secretary Sanders later cast doubts on this and stated the US is still moving ahead with tariffs
• DXY consolidated around the 97.00 level after the prior day’s tumultuous session in which the USD lost ground against EUR
• Looking ahead, highlights include German Industrial Output & Trade Balance, US & Canadian Jobs Report,...

• European indices are firmer [Euro Stoxx 50 +0.8%], diverging from the mixed performance of their Asia-Pac counterparts
• US President Trump stated that tariffs on China could be raised to another USD 300bln if necessary due to trade disputes
• In FX, the USD has consolidated above 97.0 while the EUR remains within a relatively narrow band ahead of ECB and close to notable option expiries
• Looking ahead highlights include; US International Trade, Initial Jobless Claims, Labour Cost & Productivity, ECB...

• Asian indices are mixed with sentiment subdued by the lack of Mexico tariff progress and as Chinese agencies are discussing opinions on countermeasures against the US
• In FX, the DXY is flat but at prior session highs with G10 peers subdued as a result
• Looking ahead highlights include; German Industrial Production, EZ GDP (Revised), US International Trade, Initial Jobless Claims, Labour Cost & Productivity, ECB Rate Decision & Staff Projections, BoE’s Carney, ECB’s Draghi, Fed’s Kaplan &...

• European Indices [Euro Stoxx 50 +0.3%] are firmer but notably not as buoyed as the Asia-Pac session was overnight
• In FX, the USD remains weak with the DXY back below the 97.0 handle to the benefit of all (ex-JPY) G10 counterparts
• European Commission are to instigate infringement processes against the Italian Government due to their fiscal policy
• Looking ahead, highlights include US Composite and Services PMI, US ADP, ISM Non-Manufacturing PMI, Fed’s Clarida, Evans, Rosengren,...

• Asian indices were higher as the region took impetus from Wall St. posting its largest daily gain since early-January
• Italian Deputy PM’s Salvini and Di Maio have reached an agreement to work together
• In FX the DXY dropped towards the 97.0 level following Fed comments; to the benefit of most G10 counterparts
• Looking ahead, highlights include EZ & US Composite and Services PMI, UK Services PMI, US ADP, ISM Non-Manufacturing PMI, BoE’s...

• Major European indices [Euro Stoxx 50 +0.6%] are firmer after a subdued Asia-Pac lead, though the tech sector is still the underperformer
• China have reportedly issued a warning against travelling to the US, and the Foreign Ministry states that it is clear every set back in trade talks was due to the US breaking consensus
• In FX, the USD has recovered to above the 97.0 handle while the AUD has been largely resilient to the RBA rate cut and Governor Lowe’s comments
• Looking ahead, highlights include US...

• Asian indices are largely negative as tech suffered in sympathy with Wall St. and the US accused China of misrepresenting trade talks
• Fed’s Bullard (Voter) said a rate cut may be warranted soon amid trade and inflation concerns
• RBA cut rates as expected; to support employment growth and generate greater confidence around the inflation target
• Looking ahead, highlights include UK Construction PMI, EZ CPI (Flash) & Unemployment Rate, US...

• European indices remain subdued [Euro Stoxx 50 -0.1%] but have grinded higher after a downbeat Asia-Pac lead as China issued a White Paper blaming the US for the deterioration in trade talks
• In FX, the DXY remains below the 98.0 handle and relatively unchanged for the session ahead of key risk events throughout the week
• Looking ahead, highlights include US mfg PMIs, ISM mfg PMI, Fed’s Quarles, Barkin and Bullard

ASIA-PAC

Asian equity markets traded...

• A subdued start to the week for Asian indices as China released a White Paper blaming the US for trade talks deteriorating, and are to create an unreliable entity list
• In FX, the DXY remains below the 98.0 level as the US faces a two-front trade war; while, EUR and GBP are benefiting from the USD weakness
• Looking ahead, highlights include EZ, UK and US mfg PMIs, ISM mfg PMI, Fed’s Quarles, Barkin and...

• European Indices are firmly in negative territory [Euro Stoxx 50 -1.7%] following US Presidents Trump’s plans to place tariffs on Mexican goods at an initial level of 4%
• China’s Global Times Editor states that China will take major retaliatory measures against the US placing Huawei and other Chinese companies on an Entity List
• In FX, the Mexican Peso underperforms while safe haven JPY benefits from the risk-off tone
• Looking ahead, highlights include German CPI (Prelim), US Core PCE Price Index,...

• European Indices [Euro Stoxx 50 +0.5%] have stayed positive after opening in positive territory, diverging from the subdued Asia-Pac session
• China’s MOFCOM says tariffs will not solve trade imbalances, and they will not accept a trade deal which hurts their pride/sovereignty
• Looking ahead, highlights include US GDP (2nd Estimate), Core PCE, Advanced Goods Balance, Pending Sales Change & Initial Jobless Claims, Canadian Average Weekly Earnings, Fed's Clarida, BoC's Wilkins
• Market Holiday: Swiss,...

• Asian indices followed the negative tone on from their US counterparts as Wall St. extended on the prior day’s losses
• In FX the USD is firmer, with the DXY holding above the 98.00 level as counterparts, particularly EUR and GBP, remain subdued
• Looking ahead, highlights include US GDP (2nd Estimate), Core PCE, Advanced Goods Balance, Pending Sales Change & Initial Jobless Claims, Canadian Average Weekly Earnings, BoE's Ramsden, Fed's Clarida, BoC's Wilkins,...

• European Indices [Euro Stoxx 50 -1.6%] are firmly in negative territory, as the risk-off sentiment spills over from the Asia-Pac session
• US Treasury’s currency report stated that no major trading partner met the currency manipulation list; but 9 countries, including China, have been placed on the watchlist
• Looking ahead, highlights include, BoC Rate Decision, ECB’s Visco, supply from the US

ASIA-PAC

Asian equity markets were mostly lower following the...

• Asian indices are subdued following on from their US counterparts where the E-mini S&P dropped below the 2800 level as US-China tensions remain a key trading theme
• US Treasury released their currency report placing 9 countries, including China, on the watchlist but did not name any as manipulators
• Looking ahead, highlights include French GDP, German Unemployment, BoC Rate Decision, ECB’s Weidmann, Mersch, Rehn & Visco, supply from Germany and the...

• European Indices [Euro Stoxx 50 -0.6%] are broadly softer as the region failed to capitalise on the positive Asia-Pac momentum
• On the trade front SCMP reports that US-China talks hit a snag as the US side ‘kept adding new demands in late stages of the negotiations’
• Looking ahead, highlights include US Consumer Confidence and supply from the US

EU PARLIAMENTARY ELECTIONS SUMMARY

European elections failed to deliver any drastic upsets; right wing anti-EU parties...

• Asian indices are moderately higher following on from yesterday’s holiday lull, with Chinese indices supported by a substantial PBoC liquidity injection
• In FX, DXY extended on gains as its major counterparts EUR/USD and GBP/USD languished following a pullback below 1.1200 and 1.2700 respectively
• Looking ahead, highlights include German GFK Sentiment and import prices, EZ Consumer Confidence (final), US Consumer Confidence, supply from Italy, Germany and the...

• Asian equity markets began the week mixed as a lack of risk drivers and an extended weekend in some major global markets resulted to a non-committal tone in the region
• Preliminary results from the European Parliament elections indicate the centre-right and centre-left groups are set to remain the biggest groups but have fallen short of a majority
• President Trump suggested a US-Japan trade deal can wait until after the Japanese upper house elections in...

• UK PM May resigns, to step down as Tory leader on June 7th and is to remain as PM until a new leader is elected
• European Indices [Euro Stoxx 50 +0.9%] have extended on initial gains following their Asian counterparts which were somewhat boosted by upbeat US-China comments from President Trump
• In FX, the USD is weighed on by G10 counterparts bar safe havens in consolidation from yesterday’s DXY highs and amidst the risk-on tone this morning
• Looking ahead, highlights include; US Durable...

• Asian equity markets were mixed with the region cautious following the headwinds from US. ASX 200 underperformed amid the slump in oil prices 
• US President Trump said there is a good possibility of a US-China trade deal and that Huawei could be included in any trade deal
• UK PM May is to announce her timetable to step down on Friday, according to reports 
• In FX markets, the DXY languished near this week’s lows whilst AUD was subdued...

• European indices [Euro Stoxx 50 -1.7%] are sinking following the weak lead from Asia and poor EZ data
• In FX, USD outperforms all G10 bar safe havens as dismal data and Brexit woes afflict sentiment
• Looking ahead, highlights include, US Initial Jobless Claims & New Home Sales, NZ Trade Balance, ECB Minutes, European Parliament Election, Fed's Kaplan

ASIA-PAC

Asian stock indices were mostly lower amid spillover selling from Wall St as US-China trade...

• Asian indices (ex-India) are subdued as US-China updates continue to drive markets; China’s Foreign Minister Wang Yi warned China will fight to the end
• FOMC minutes largely neutral, emphasis on patience and that the inflation downturn is transitory
• UK PM May is to meet 1922 Committee Chair Brady on Friday, where leadership changes will be discussed; HoC Leader Leadsom resigned
• Looking ahead, highlights include German GDP & Ifo, French,...

• European Indices [Euro Stoxx 50 +0.3%] are positive, but have traded choppily for much of the session ahead of FOMC and as markets await further US-China updates
• On the Brexit front, the 1922 Committee are due to meet at 16:00BST, with speculation that if over half of the committee are in favour then Graham Brady will instruct PM May to leave
• Looking ahead, highlights include Canadian Retail Sales, DoEs, FOMC minutes, Fed’s Williams, Bostic, and BoE’s...

• Asian indices were mixed as markets await further US-China updates and FOMC minutes
• US is contemplating blacklisting as many as 5 Chinese surveillance firms
• UK PM May’s latest Brexit offer has led to a backlash from both Conservative Eurosceptics and the Labour Party
• Looking ahead, highlights include UK CPI, Canadian Retail Sales, DoEs, FOMC minutes, ECB’s Draghi, Praet, Fed’s Williams, Bostic, and BoE’s...