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  • APAC stocks traded mixed after the lacklustre handover from the US as markets braced for looming risk events.
  • Fed's Schmid (non-voter) said there is no need to pre-emptively adjust the stance of policy.
  • Hamas officials are "disappointed" with the framework of the hostage deal that was presented in Paris last Friday.
  • Japanese CPI data printed firmer-than-expected but showed a slowdown with Core CPI at the central bank's 2%...
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  • Equity bourses/futures under modest pressure with newsflow light after a weekend of heavy geopols & Berkshire numbers/commentary
  • DXY under modest pressure but above Friday’s base, EUR benefitting from the softer USD; antipodeans lag, USD/JPY firmer
  • Contained start with specifics light into ECB’s Lagarde for EGBs while USTs await US supply, Gilts modestly outperform
  • Crude subdued despite significant geopolitical rhetoric, though no major...
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  • APAC stocks were mostly subdued with weekend macro newsflow light and dominated by geopolitical commentary.
  • European equity futures indicate a lower open with Euro Stoxx 50 future -0.2% after the cash market closed up 0.4% on Friday.
  • DXY is contained around the 104 mark, EUR/USD sits near its 200DMA @ 1.0826, NZD lags.
  • Israeli PM Netanyahu said that they are all working on a hostage deal but he cannot say if they will have...
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Week Ahead 26th February - 1st March

  • MON: US New Home Sales (Jan), Dallas Fed (Feb), Japanese CPI (Jan), UK Nationwide (Feb)
  • TUE: US Democratic Primary - Michigan; German GfK (Mar), US Durable Goods (Jan), Consumer Confidence (Feb), Richmond Fed (Feb)
  • WED: RBNZ Policy Announcement, Australian CPI (Jan), Swedish PPI (Jan), EZ Consumer Confidence Final (Feb), US GDP 2nd/PCE Prices Prelim. (Q4), Japanese Retail Sales (Jan)
  • THU:...
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  • European equites are around flat, whilst US futures are slightly softer following the prior day’s strength
  • Dollar is flat and around 104.00, JPY is softer following continued hawkish Fed speak
  • Bonds are softer but Bunds/Gilts yet to test Thursday’s lows, fleeting hawkish move on Ifo/ECB Consumer survey
  • Commodities pressured with catalysts light thus far; White House announces new Russian sanctions
  • Looking ahead,...
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  • APAC stocks mostly benefitted amid tailwinds from the tech-led surge in the US on the NVIDIA wave.
  • Fed's Waller (voter) said there is no rush to begin cutting rates and it is appropriate to be patient.
  • European equity futures indicate a slightly higher open with Euro Stoxx 50 future +0.1% after the cash market closed up 1.7% on Thursday.
  • DXY sits just below the 104 mark, antipodeans lead, EUR/USD trades near its 200DMA @...
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  • European equities are firmer, taking the lead from strong Nvidia earnings, which has led to outperformance in the NQ
  • Dollar is subdued and the Antipodeans outperform, benefiting from the broader risk tone
  • Bonds are divergent, with EGBs choppy on the morning’s PMI data
  • Crude holds firm alongside base metals which benefit from the softer Dollar and positive risk tone
  • Looking ahead, US IJC, ECB Minutes, CBRT Policy...
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  • APAC stocks were mostly positive amid tailwinds from the tech uplift in US futures following NVIDIA earnings.
  • NVIDIA surged by over 9% after-hours after beating on top and bottom lines and offering strong sales guidance.
  • FOMC minutes proved to be a non-event and echoed the broader tone of Fed speak seen in the wake of the January meeting.
  • European equity futures indicate a higher open with Euro Stoxx 50 future +0.8% after the cash market...
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  • European bourses are generally firmer, though the FTSE 100 lags after significant underperformance in Glencore & HSBC; US futures lower pre-Nvidia
  • Dollar is incrementally firmer, Antipodeans bid in tandem with strong Chinese equity trade overnight
  • Bonds are mixed but edging higher in recent trade post-supply; attention on US 20yr supply later today
  • Crude is softer and Gold is modestly firmer with specifics...
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  • APAC stocks traded mixed with headwinds following the tech-led declines stateside ahead of Nvidia earnings.
  • European equity futures indicate a contained open with Euro Stoxx 50 future +0.1% after the cash market closed down 0.1% on Tuesday.
  • DXY lingers around the 104 mark, EUR/USD maintains 1.08 status and antipodeans outperform again.
  • Bund futures remain subdued and Crude futures moved off the prior day's...
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  • European equities are mixed, with mild outperformance in the CAC 40, lifted by post-earning gains in Air Liquide; US equity futures are entirely in the red, RTY lags
  • Dollar is modestly weaker and Antipodeans outperform, supported by the PBoC 5yr LPR cut
  • Bonds are firmer with specifics-light; Bunds unreactive to the latest ECB EZ negotiated wages metrics
  • Crude is softer alongside base metals, with Chinese stimulus efforts unable to lift...
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  • APAC stocks traded with mild losses with price action contained following the US holiday lull.
  • PBoC's latest benchmark rates announcement saw the 1-year LPR surprisingly maintained at 3.45% (exp. 5bps cut), but the 5-year LPR cut by 25bps (exp. 10bps cut).
  • RBA Minutes from the February 6th Meeting stated that the board considered the case to hike by 25bps or hold steady.
  • DXY traded in a tight range, Antipodeans were pressured amid the...
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  • APAC stocks were mixed amid a lack of drivers and with US markets to remain closed on Monday.
  • Mainland China gained on return from the Lunar Year Holiday where China's travel spending topped pre-COVID levels.
  • European equity futures indicate a lower open with Euro Stoxx 50 future -0.3% after the cash market closed up 0.5% on Friday.
  • DXY is steady vs. peers, EUR/USD remains sub-1.08 and USD/JPY hovers around the 150...
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Week Ahead 19th-23rd February

  • MON: Swedish CPIF (Jan), Canadian Producer Prices (Jan), Holiday: US (President’s Day) , EU Red Sea Policing Strategy
  • TUE: PBoC LPR, RBA Minutes (Feb), EZ Current Account (Dec), Canadian CPI (Jan)
  • WED: FOMC Minutes (Jan), UK PSNB (Jan), South African CPI (Jan), EZ Flash Consumer Confidence (Feb), New Zealand Trade (Jan), Australian Flash PMIs (Feb)
  • THU: CBRT Policy Announcement,...
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  • European equities are entirely in the green, with semi-conductor names lifted in a read-across from Applied Materials post-earnings; US equities are mixed, NQ leads
  • Dollar is around flat, JPY underperforms after dovish BoJ Ueda speak
  • Bonds are subdued, largely led by the higher-than-expected UK Retail Sales print, as attention turns to US PPI/Fed speak
  • Crude is softer, paring the prior day’s advances; Base metals...
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  • APAC stocks sustained the positive momentum from Wall St where yields softened after the US data deluge.
  • European equity futures indicate a higher open with Euro Stoxx 50 future +0.5% after the cash market closed up 0.7% on Thursday.
  • DXY is marginally firmer vs. peers whilst the JPY marginally lags as the BoJ continues to talk dovishly.
  • BoJ's Ueda said will examine whether to maintain various easing measures when the price target comes into...
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  • European bourses are firmer, with outperformance in the CAC 40 after several strong results; US equity futures firmer to a slightly lesser degree, though the RTY continues to outperform
  • Dollar is around flat, GBP softer and JPY firmer as the regions enter a technical recession
  • Bonds are firmer after UK GDP data, numerous speakers ahead
  • Crude is subdued in a continuation of price action yesterday; base metals are generally firmer amid the...
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  • APAC stocks mostly took impetus from the rebound on Wall St after the Fed downplayed the recent CPI report.
  • Japanese Q4 GDP showed that the nation's economy entered into a technical recession.
  • European equity futures indicate a higher open with Euro Stoxx 50 future +0.4% after the cash market closed up 0.4% on Wednesday.
  • DXY has pulled back a touch after failing to breach 105, JPY leads G10 FX.
  • Looking ahead,...
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  • European bourses are firmer, with outperformance in the FTSE 100 after softer-than-expected UK CPI; US futures are entirely in the green, with the RTY leading
  • Dollar is around flat and just beneath 105.00, GBP underperforming post-CPI and Yen still holds above 150.00
  • Bonds boosted in tandem with Gilt price action, which gapped up post-inflation data
  • Crude is incrementally firmer, spot gold trades sideways and base metals mixed awaiting...
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  • APAC stocks declined amid headwinds from the US where hot inflation unwound Fed rate cut expectations.
  • European equity futures indicate a lower open with Euro Stoxx 50 future -0.2% after the cash market closed down 1.2% on Tuesday.
  • DXY held onto post-CPI gains but stopped shy of 105, JPY selling prompted jawboning from Japanese officials.
  • Japanese MOF's Kanda said they are ready to take action on FX anytime, 24 hours, all year...
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  • European equities are softer across the board, with Tech lagging following poor Siltronic guidance, weighing on heavyweight ASML (-2.7%)
  • US equity futures mirror price action in Europe, though the NQ slightly underperforms.
  • Dollar is flat and awaiting US CPI; GBP is bid post-UK jobs data and CHF suffers after significantly cooler CPI
  • Bonds are divergent, with USTs in a holding pattern ahead of US inflation, whilst Gilts were pressured on the...
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  • APAC stocks traded mixed albeit with a positive bias as several markets reopened from the extended weekend.
  • European equity futures indicate a lower open with Euro Stoxx 50 future -0.3% after the cash market closed up 0.7% on Monday.
  • DXY is steady above the 104 mark, USD/JPY lingers around 149.50, NZD lags post-inflation expectation survey.
  • US President Biden said the US is working on a hostage deal that would lead to a period of calm...
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  • European equities are generally firmer, though the FTSE 100 lags, hampered by AstraZeneca; US equity futures are around flat, with slight outperformance in the RTY
  • Dollar is marginally firmer, the Kiwi underperforms despite hawkish-leaning speak from RBNZ officials overnight
  • Bonds are little changed amid catalyst thin trade and will likely take impetus from upcoming central bank speak
  • Crude is softer on the session despite geopolitical...
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  • APAC stocks were subdued amid quiet weekend newsflow and mass holiday closures in the region.
  • ECB Panetta said the time for a reversal of the ECB’s monetary policy stance is fast approaching.
  • European equity futures indicate a mildly positive open with Euro Stoxx 50 future +0.3% after the cash market closed up 0.1% on Friday.
  • DXY is steady around the 104 mark, EUR/USD is eyeing 1.08, USD/JPY sits on a 149...
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Week Ahead 12th-16th February

  • MON: BoC SLOS, Indian CPI (Jan), Export/Imports (Jan), Holiday: China (New Year), Hong Kong, Tokyo
  • TUE: OPEC MOMR, Swedish Unemployment (Jan), UK Unemployment/Wages (Dec), Swiss CPI (Jan), EZ/German ZEW (Feb), US CPI (Jan), NFIB (Jan). Holiday: China (New Year), Hong Kong
  • WED: Indonesian Presidential Election, UK CPI (Jan), Norwegian GDP (Dec), EZ Employment (Q4), Japanese GDP (Q4), Holiday: China (Spring...
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