• Asia-Pac indices and US equity futures began the week with heavy losses as President Trump heightens tensions in the US-China trade war

· Subsequently, China is reportedly mulling cancelling trade discussions this week following US President Trump's tariff threats

·UK PM May remains optimistic that she is nearing a deal with the opposition Labour party on Brexit; MPs in her party and across the aisle are less upbeat about the prospects for a...

• European indices on the front foot [Euro Stoxx 50 -0.3%], but bonds backpedaling pre-NFP
• USD remains firm with the DXY just below the 98.0 level ahead of NFP
• Looking ahead, highlights include US Jobs Reports, US ISM Non-Manufacturing, Fed's Evans, Clarida, Williams & Bowman
• Earnings: Berkshire Hathaway, American Tower

ASIA-PAC

Asian equity markets were mixed with the region cautious ahead of the looming US NFP data and after losses on Wall...

• Asian equity markets were mixed with the region cautious ahead of the looming US NFP data and after losses on Wall St
• A report suggested that US and China trade talks may have hit an impasse. However, comments from US Commerce Secretary Ross suggested the two nations are in the end-game of negotiations
• Latest UK local council election results show Labour Party councillors dropped by 53 to 601 and Conservative party councillors dropped by 117 to 512 in England
• Looking ahead, highlights include UK...

• European indices [Euro Stoxx 50 -0.3%] have traded indecisively this morning as the region struggles to find direction
• In FX, the USD has lost a degree of its post-FOMC momentum, with the EUR garnering support from the EZ PMIs this morning
• On the trade front, reports indicate that Chinese Foreign Minister Yi is to travel to the US on Tuesday
• Looking ahead, highlights include, US Initial Jobless Claims and Labour Costs, US Factory Orders, BoE Rate Decision, QIR and Press Conference, ECB's...

• FOMC left rates unchanged as expected and announced a ‘technical’ cut in the IOER; Chair Powell stated that he does not see the case for moving policy in either direction
• Asian indices were mixed, as most of the region returned from market holidays, somewhat diverging from the negative Wall St lead
• Sources state that a US-China trade deal may be possible by next week, with reports indicating that there has been significant progress; however, the details still need to be worked out
• Looking ahead,...

• Markets have been quiet due to the mass closures for Labour Day, while the FTSE 100 (+0.1%) is similarly uninspiring
• In FX sterling outperforms but the broadly in line PMI did little for the currency, while NZD underperforms following the weak jobs data
• Looking ahead, highlights include US ADP & Construction Spending, US ISM Manufacturing PMI, FOMC Rate Decision & Press Conference, BoC's Wilkins and Poloz
• Earnings: CVS, Qualcomm. CME Group, Automatic Data Processing,...

• A quiet tone was observed in Asia-Pacific amid market closures, US equity futures were underpinned after-hours following Apple earnings
• Eurosceptic ministers fear that PM May is preparing to give in to Labour demands on Brexit after they were told an unpalatable result would be better than a disastrous one
• Looking ahead, highlights include UK Manufacturing PMI, US ADP & Construction Spending, US ISM Manufacturing PMI, FOMC Rate Decision & Press Conference, ECB's de Guindos, BoC's Wilkins and...

• European indices have continued to drift lower following on from the predominantly downbeat Asian session
• On the data front EZ GDP came in above expectations, with State German CPI’s all increasing vs. their priors ahead of the German prelim figure at 13:00BST
• Looking ahead, highlights include German CPI (Prelim), Canadian GDP, US Chicago PMI & Consumer Confidence, BoC’s Poloz & Wilkins
• Earnings: Apple, Amgen, Arconic, Pfizer,...

• Asian equity markets traded mostly lower following weaker than expected Chinese PMI data and as the region digested a heavy slate of earnings
• UK PM May is reportedly facing a grassroot vote demanding her resignation while cross party talks are said to have been better
• Looking ahead, highlights include German Gfk, Import Prices & CPI (Prelim), Canadian GDP, US Chicago PMI & Consumer Confidence, BoE’s Ramsden, BoC’s Poloz & Wilkins, Supply from Italy &...

• European indices have continued to edge lower after a choppy morning for stocks [Euro Stoxx 50 -0.5%]
• On the trade front, US Treasury Secretary Mnuchin says that trade negotiations with China are now in their final laps
• Looking ahead, highlights include US Personal Income & Consumption, US PCE Price Index & Dallas Fed
• Earnings: Alphabet, NXP Semiconductor

ASIA-PAC

Asian equities traded mixed despite last Friday’s gains on Wall St where...

• Sunday: Spanish Election.
• Monday: EZ consumer confidence; US PCE/personal spending.
• Tuesday: German unemployment; EZ flash Q1 GDP, regional EZ CPIs; Canada GDP; US consumer confidence, pending home sales, Chicago PMI; NZ employment.
• Wednesday: Europe Labour Day Holiday; UK, US mfg PMI; US ADP employment, construction spending, ISM mfg, FOMC.
• Thursday: China Caixin mfg PMI; EZ mfg PMI; UK construction PMI;...

• Asian equities traded mixed despite last Friday’s gains on Wall Street, Japanese markets were closed due to the Golden Week Holiday
• Spain’s election showed that no party won a majority, but the Socialists emerged as the only party with a chance of forming a governing coalition
• UK Labour is said to be prepared to sign up to a Brexit deal with the government without the promise of a referendum attached if cross-party talks make significant progress in the coming...

• Major European indices are little changed with the markets focus remaining firmly on earnings
• On the trade front it has been reported that if a deal is finalised, Chinese President Xi could sign the deal in the US as early as June
• Brent and WTI prices have extended on losses this morning, with some citing this to technical factors
• Looking ahead, highlights include, US GDP (Advance)
• Earnings: Exxon Mobil, Colgate, Chevron, American Airlines

ASIA-PAC

Asia-Pac risk sentiment...

• Asia-Pac risk sentiment was mostly downbeat as markets remained heavily focused on earnings releases and following the lacklustre performance of counterparts stateside
• UK officials have conceded that UK PM May does not have enough time to get her Brexit deal passed by Parliament and avoid taking part in EU elections
• DXY consolidated after the prior day’s choppy price action but remained considerably firmer on the week and above the 98.00 level
• Looking ahead, highlights include, US GDP (Advance),...

• European Indices [Euro Stoxx 50 -0.3%] are trading with losses after a earnings dominated morning
• BoJ & Riskbank kept rates unchanged but both altered their forward guidance
• UK PM May is reportedly planning a Withdrawal Agreement Bill vote for next week, subsequently a source has suggested there is no plan for such a vote next week
• Looking ahead, highlights include US Durable Goods & Initial Jobless Claims, New Zealand Trade Balance, ECB’s de Guindos Speaking, Supply from the...

• Asian equity markets traded cautiously following an uninspiring lead from Wall St
• BoJ kept monetary policy settings unchanged as expected but tweaked forward guidance and lowered GDP and CPI forecasts
• UK PM May is reportedly planning a Withdrawal Agreement Bill vote for as early as next week
• Looking ahead, highlights include US Durable Goods & Initial Jobless Claims, New Zealand Trade Balance, Riksbank Rate Decision & Press Conference, ECB’s de Guindos Speaking, Supply from the...

• European indices are mixed [Euro Stoxx 50 -0.1%] in-spite of strong earnings from heavy weight names such as SAP, Credit Suisse and Novartis
• UK PM May is preparing to challenge the opposition Labour Party to support the Brexit bill before European Parliamentary elections if cross-party discussions fail
• In FX, AUD underperforms as the weaker than expected inflation data raises the likelihood of a RBA rate cut
• Looking ahead, highlights include BoC Rate Decision & Press Conference, Supply from the...

• Asian equity markets traded mixed after the region failed to sustain the tailwinds from Wall St after the S&P 500 and Nasdaq posted fresh record closes
• UK PM May is preparing to challenge the opposition Labour Party to support the Brexit bill before European Parliamentary elections if cross-party discussions fail
• AUD/USD slumped as Australian inflation data missed expectations across all components, which spurred the likes of Citi, JP Morgan and RBC all calling for a cut at the next...

• European indices are slightly subdued [Euro Stoxx 50 -0.2%] as markets trade largely in-line with indecisive overnight trade
• UK MP’s return from recess with Labour-Tory talks resuming, recent newsflow surrounds potential no-confidence votes in PM May
• Looking ahead, highlights include US New Home Sales, EZ Consumer Confidence (Flash), Supply from the US
• Earnings: Verizon, P&G, eBay, State Street, Twitter, United Technologies, Lockheed Martin,...

• Asian equity markets traded mixed as sentiment somewhat deteriorated from the mostly positive close in the US
• UK Conservative Party activists are to hold an emergency summit for a vote of no-confidence in UK PM May
• Oil prices extended on their gains overnight following the US announcement to end Iranian oil sanction waivers in an effort to push Iran oil imports to zero
• Looking ahead, highlights include US New Home Sales, EZ Consumer Confidence (Flash), Supply from the US
• Earnings: Verizon,...

• Major European indices [Euro Stoxx +0.3%] have traded choppily this morning, largely recovering from the poor PMIs
• On the trade front the Chinese Commerce Ministry states that new progress has been made in agreeing the text for a US-China trade deal
• Looking ahead US PMI (Flash), US Retail Sales, US Initial Jobless Claims & Business Inventories, US Philly Fed Business Index, Fed’s Bostic,
• Earnings: Phillip Morris, Union Pacific, American...

• European indices are little changed [Euro Stoxx 50 +0.1%] following on from the indecisive trade seen overnight
• European Commission has published the preliminary list of USD 20bln of US products to potentially be hit with retaliatory tariffs relating to Boeing
• Looking ahead, highlights include Canadian CPI, Fed Beige Book, BoE’s Carney, ECB’s Lautenschlaeger & de Galhau, Fed’s Harker & Bullard,
• Earnings: Morgan Stanley, Abbott Laboratories, US...

• Asian equity markets traded indecisively as the region failed to fully benefit from a slew of better than expected Chinese data
• Local UK Conservative party chairmen are circulating a petition which seeks an Extraordinary General Meeting to pass a no-confidence vote in PM May
• In FX markets, the DXY was marginally softer and fell back below the 97.00 level as most major counterparts gained overnight
• Looking ahead, highlights include UK, EZ,...

• European indices have grinded higher [Euro Stoxx 50 +0.4%], continuing from the upbeat sentiment seen at the end of the Asia-Pac session; ahead of further US earnings with more Dow components to report
• ECB sources highlight that policymakers have doubts around H2 growth rebound projections; weighing on EUR/USD and lifting Bund futures to session highs
• Looking ahead, highlights include US Industrial Production, APIs, Fed Discount Minutes, ECB’s Lane, Fed’s Kaplan
• Earnings: IBM, Johnson & Johnson,...

• Asian indices are marginally firmer as the region eventually shrugged off the lacklustre sentiment from Wall St. following mixed earnings
• In FX, AUD declined on dovish RBA minutes while DXY attempted to reclaim the 97.00 level
• Looking ahead, highlights include UK Jobs report, German ZEW, US Industrial Production, APIs, ECB’s Lane, Fed’s Kaplan, supply from the UK
• Earnings: IBM, Johnson & Johnson, Netflix, UnitedHealth Group, CSX, Bank of...