• ECB President Draghi said additional stimulus will be required if inflation aim is threatened, APP still has considerable headroom
• Stocks surge as Draghi strikes a dovish tone, albeit Financials underperform amid the prolongation of negative rates
• EUR slumped to the bottom of the G10 pile amid dovish Draghi comments, DXY is firmer above 97.50
• Looking ahead, highlights include US Building Permits, Housing Starts, APIs, Tory Leadership Vote,...

• Asian equity markets mostly saw cautious gains ahead of this week’s key risk events and following the marginal gains in the US
• Boris Johnson allies reportedly plan to rig the leadership contest by ‘lending’ votes to Jeremy Hunt
• DXY continued on from the prior day’s swings and slipped back below 97.50 amid tentativeness heading into the key central bank meetings
• Looking ahead, highlights include German ZEW, EZ CPI, US Building Permits,...

• MON: US hearing on further China tariffs.
• TUE: RBA Minutes, German ZEW Sentiment, EZ CPI (Final), US Housing Starts.
• WED: FOMC Monetary Policy meeting, CBRT Summary of the MPC meeting, BCB Monetary Policy meeting, Japan Trade Balance, UK & Canada CPI.
• THU: BOE, BOJ, Norges Bank, Bank of Indonesia, UK Retail Sales, US Philly Fed.
• FRI: EU Summit (EU top jobs decisions to be made), Quadruple Witching, Japanese CPI,...

• Major European stocks are flat/mixed in a continuation of the cautious tone seen in Asia
• Most major FX pairs remain rangebound ahead of an action-packed week
• Looking ahead highlights include, US NY Fed Manufacturing and ECB’s Draghi

ASIA-PAC

Asian equity markets began mixed with the region cautious ahead of the upcoming slate of central bank activity and after last Friday’s losses on Wall St,...

• Asian equity markets began mixed with the region cautious ahead of the upcoming slate of key risk events
• Price action in FX was relatively quiet amid a lack of tier 1 data releases, DXY slightly pulled back from Friday’s data-driven gains
• Former UK Foreign Minister Boris Johnson’s plans to withhold Brexit bill payments could be thwarted by Attorney General Cox’s legal advice
• Looking ahead, highlights include US NY Fed Manufacturing, ECB’s de...

• European indices are predominantly lower [Euro Stoxx 50 -0.4%] as the risk-off theme prevails
• The US have reportedly asked the WTO to pause the investigation into China IP until December, and India are reportedly preparing higher tariffs on 20 US goods
• Looking ahead highlights include, US Retail Sales, Industrial Production, Business Inventories, University of Michigan Sentiment, BoE’s Carney

ASIA-PAC

Asia equity markets traded mixed as they awaited...

• Asian indices are mixed, pulled between the positive Wall St. lead and impending Chinese data at 08:00BST
• US Secretary of State Pompeo formally blamed Iran for the Oman tanker attacks
• NEC Director Kudlow states that China has broken WTO terms on trade, as such US President Trump is taking action
• Looking ahead highlights include, Chinese Industrial Output & Retail Sales, EZ CPI (Final), US Retail Sales, Industrial Production, Business...

• European equities are firmer [Euro Stoxx 50 +0.2%], deviating from their Asia-Pac counterparts
• WTI & Brent are significantly firmer amidst reports that two oil tankers in the Gulf of Oman have been attacked
• In FX, the USD remains relatively stead while safe havens are buoyed by ongoing geopolitical tensions
• Looking ahead highlights include, US Import, Export Prices & Jobless Claims, New Zealand Manufacturing PMI. Supply from the...

• Asia-Pac stocks remain lower as the risk-off sentiment spills over from the US; amidst negative Chinese rhetoric on a US trade deal
• US President Trump remains optimistic on achieving a deal with China, but added that tariffs on the rest of Chinese imports will be imposed if no deal can be achieved; has no deadline for these tariffs
• USD remains firm to the detriment of G10 counterparts, with Cable pressured after the Labour party’s parliament control bill was...

• No major fundamental EU session updates leave European Indices [Euro Stoxx 50 -0.5%] subdued and largely in-line with their Asia-Pac counterparts.
• In FX, the USD is lacklustre ahead of US CPI; with G10 counterparts failing to significantly capitalise on this amidst the downbeat tone
• Looking ahead highlights include, US CPI, ECB’s Coeure. Supply from the US

ASIA-PAC

Asian equity markets traded mostly subdued after the flat lead from Wall St where the...

• Asian indices are mixed, following on from Wall St. finishing flat, breaking its week-long win streak
• In FX, the USD is little changed ahead of US CPI; with main G10 counterparts relatively steady as well
• US President Trump says he is the one holding up the US-China trade deal, and that he expects to meet President Xi at the G20 summit
• Looking ahead highlights include, US CPI, ECB’s Draghi, de Guindos & Coeure. Supply from Germany &...

• European indices are firmer this morning [Euro Stoxx 50 +0.9%], taking the lead from a positive Asia-Pac session.
• In FX, Sterling is outperforming G10 counterparts on the combination of both strong UK labour data and hawkish BoE speak
• Looking ahead highlights include, US PPI. Supply from the US

ASIA-PAC

Asian equity markets were higher across the board after a similar lead from US where sentiment was underpinned by the US-Mexico tariff relief which lifted the...

• Asian indices are higher as sentiment remains supported on US-Mexico tariff relief
• BoE’s Saunders says the BoE will likely need to return to a neutral stance sooner than expected and rates do not necessarily need to be on hold until Brexit uncertainty fades
• Looking ahead highlights include, UK Employment Data, US NFIB & PPI, ECB’s Nowotny & Rehn, BoE’s Vlieghe, Saunders, Broadbent & Tenreyro. Supply from the...

• European Indices  [Euro Stoxx 600 +0.2%] are firmer as risk sentiment remains positive after the US agreed to advert tariffs on Mexico
• In FX, the USD outperforms its G10 counterparts with antipodeans lagging on mixed China trade, while GBP declines with UK GDP
• Looking ahead highlights include; Canadian Housing Starts & Building Permits, US Jolts, BoE’s Saunders

ASIA-PAC

Asian equity markets began the week higher with sentiment underpinned...

• 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...