• APAC stocks traded mixed with the region cautious heading into today’s key US inflation data.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up by 0.7% yesterday.
• DXY slipped to a fresh two-month low as USD/JPY moved back below 140 and a firmer PBoC CNY fix, NZD is stronger post-RBNZ.
• RBNZ kept the OCR unchanged at 5.50% as expected and agreed that the OCR will need to...

• European bourses remain firmer but off best levels as sentiment slips throughout the morning
• Stateside, futures in-fitting though action has been more contained and they remain much closer to Unch.
• DXY fails to benefit from the pullback in risk appetite as CHF and JPY outperform with UST yields pulling back, EUR unreactive to weak ZEW
• Core benchmarks are bid, with Gilts in-fitting despite hawkish wage metrics
• Crude...

• APAC stocks were mostly positive following the tailwinds from the US while participants also reflected on China's support efforts.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.3% after the cash market closed up by 0.5% yesterday.
• DXY has extended further beneath 102, EUR/USD is back above 1.10, JPY leads the majors with USD/JPY below 141.
• Crude futures were marginally firmer owing to the risk tone, USTs...

• European bourses are firmer across the board but diverging with their US peers currently
• USD regains poise with Antipodeans fading and EUR noting OpEx; Scandis lead on CPI & Minutes
• Core fixed benchmarks are lower despite fleeting bounces ahead of data & several speakers
• Crude benchmarks remain softer post-Chinese CPI, base metals in-fitting while spot gold is more contained
• Yellen said the US & China...

• APAC stocks were mostly positive albeit with gains capped for many of the regional bourses.
• US equity futures lacked excitement as participants look ahead to this week's risk events including US CPI data; European equity futures are indicative of a lower open.
• The latest Chinese inflation data missed estimates with zero consumer inflation in the mainland and a deeper contraction in factory gate prices.
• US Treasury Secretary Yellen had a...

• MON: Riksbank Minutes, Bank of Israel Announcement, Chinese Inflation (Jun), Norwegian CPI (Jun), Chinese New, Yuan Loans (Jun)
• TUE: EIA STEO
• WED: BoC Announcement, RBNZ Announcement, German CPI Final (Jun), UK Jobs Data (May/Jun), German ZEW Survey (Jul), US CPI (Jun)
• THU: ECB Minutes, BoK Announcement, OPEC MOMR, IEA OMR, EU-Japan summit, UK GDP (May), US PPI final Demand (Jun)
• FRI: US University of...

• European bourse began in the red, but have since moved modestly into the green; US futures remain softer pre-NFP
• JPY continues its comeback as spreads tighten to the detriment of the USD, index tethered to 103.00
• Fixed income has resumed its downward trajectory despite initial two-way action, benchmarks currently at lows
• Crude is firmer and benefitting from the USD downside and the week’s OPEC/Saudi remarks
• Looking...

• APAC stocks were mostly lower amid spillover selling from global peers including in the US where the major indices were pressured.
• DXY remained confined to within a narrow range as price action calmed down from yesterday’s fluctuations, USD/JPY traded on both sides of the 144.00 level.
• European equity futures are indicative of a slightly higher open after the Euro Stoxx 50 cash closed down by 2.9% yesterday.
• Some key purchasers of Saudi...

• European bourses and US futures are pressured as growth concerns draw focus before key US data
• Cyclicals lag while defensives outperform, but remain red; Meta is bolstered as Threads launches
• DXY slips post-Minutes while USD/JPY reverses through 144.00 and Antipodeans lead despite risk aversion
• Gilts gap lower as BoE tightening expectations continue to lift, EGBs and USTs in-fitting with yields lifting further
• Crude...

• APAC stocks were mostly lower following the post-Independence Day hangover in the US owing to recent weak global data releases and a rising yield environment.
• The FOMC Minutes provided little to deviate from the current view of future rate increases - almost all participants judged it appropriate or acceptable to leave the target rate unchanged at the June meeting.
• Fed's Williams (voter) said he is not content with where inflation is right now, and that a June rate...

• European bourses are in the red after bleak EZ and Chinese PMI data, US futures similarly downbeat pre-FOMC Minutes
• Crude initially pressured on the above but lifted by Saudi commentary from the OPEC+ seminar
• DXY remains in close proximity to 103.00, with JPY benefitting from a broader yield pullback while EUR slips post-PMIs
• Fixed income is bid, following data and strong UK and German supply; yields lower, short-end...

• APAC stocks were mostly lower following the holiday lull stateside and as participants digested the latest Chinese Caixin Services PMI data.
• DXY eked mild gains and retained the 103.00 status with price action rangebound after the Independence Day celebrations in the US.
• Crude futures faded some of the prior day's gains amid the mostly risk-averse mood in Asia, while the focus turns to the OPEC International Seminar.
• Chinese President Xi...

• APAC stocks traded mixed with the regional bourses mostly rangebound amid the holiday-thinned conditions stateside
• DXY traded rangebound, EUR/USD and GBP/USD lacked direction, USD/JPY was choppy, AUD slipped after the RBA.
• The RBA decided to keep rates on hold, but maintained a hawkish tone and kept the door open for future rate hikes.
• Two drones were intercepted in the Moscow region and one in the Kaluga region, according to Russian...

• European bourses are firmer with sectors similarly supported while US futures are incrementally higher pre-ISM and after a constructive APAC handover
• Tesla outperforms in the pre-market after record Q2 deliveries, TSLA +6.2%
• In FX the USD recovers post-Friday’s data while CHF lags post-CPI, EUR hit on PMIs and JPY dented as yield differentials widen
• Crude benchmarks were initially contained but have seen renewed upside on the Russian and...

• APAC stocks began the new trading month on the front foot with momentum from last Friday's rally on Wall Street; European equity futures are indicative of a marginally higher open.
• DXY was contained ahead of the thinned conditions stateside where markets will close early owing to tomorrow’s Independence Day celebrations.
• Chinese Caixin Manufacturing PMI topped forecasts for its second consecutive monthly expansion.
• US confirmed that Treasury...

Week Ahead July 3-7th

• MON: BoJ Tankan Survey (Q2), Chinese Caixin Manufacturing PMI Final (Jun), Swiss CPI (Jun), EZ/UK/US Manufacturing PMI Final (Jun), US ISM Manufacturing PMI (Jun)
• TUE: RBA Announcement, NBH Announcement, South Korean CPI (Jun), German Trade Balance (May),
• WED: FOMC Minutes, Chinese Caixin Services PMI Final (Jun), EZ/UK/US Services & Composite PMI Final (Jun), US Durable Goods R...

• European bourses trade on the front-foot with the Stoxx 600 on track to close the week out with gains, with little action seen on the EZ Flash CPI metrics.
• US equity futures are around flat/tilting higher ahead of today’s key PCE data for May, before traders head out for the long Independence Day holiday weekend.
• ASML does not expect the Dutch government's chip export measures to have a material impact on its financial outlook.
• China may...

• APAC stocks mostly traded with cautious gains as participants digested a slew of data releases at quarter-end.
• Chinese Manufacturing PMI matched estimates and Non-Manufacturing PMI was slightly softer-than-expected although remained in a firm expansion.
• European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 0.2% yesterday.
• DXY has held on to a bulk of yesterday's gains,...

• APAC stocks mostly traded with cautious gains as participants digested a slew of data releases at quarter-end.
• Chinese Manufacturing PMI matched estimates and Non-Manufacturing PMI was slightly softer-than-expected although remained in a firm expansion.
• European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 0.2% yesterday.
• DXY has held on to a bulk of yesterday's gains,...

• European bourses trade with little in the way of firm direction following a similarly indecisive close on Wall Street yesterday.
• US equity futures are around flat with the ES holding above the 4400 mark.
• Fed Chair Powell revealed his expectations for Friday’s PCE data (Core PCE likely rose 4.7% Y/Y in May, overall PCE estimated to have risen 3.9%) and remarked that a strong majority of Fed policymakers see two or more rate rises by the end of this...

• APAC stocks traded mixed amid some indecision heading closer towards month/quarter/half-year end and after the choppy performance stateside.
• US bank shares were marginally supported after-hours following the Fed's stress test results which all 23 of the largest banks passed.
• European equity futures are indicative of a flat open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.9% yesterday.
• DXY is back on a 103 handle,...

• European bourses trade on the front foot as the region plays catch up to the afternoon gains on Wall Street.
• DXY defies gravity given negative rebalancing signals on spot month, Q1 and H1-end, as the index continued to pivot 102.50.
• Debt futures overcame several wobbles before establishing a more solid base to mount a firmer recovery from sub-par lows.
• WTI and Brent whipsawed between gains and losses this morning despite a lack of newsflow,...

• APAC stocks traded mixed and only partially sustained the momentum from Wall St. which was led higher by tech. 
• Softer-than-expected monthly CPI data from Australia added to the bets for the RBA to keep rates unchanged at next week’s meeting.
• European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.6% yesterday.
• DXY is a touch firmer above 102.50, AUD lags...

• European bourses have been edging lower throughout the morning despite the enthusiasm seen ahead of the cash open, with the ECB Sintra Forum underway.
• DXY is on a softer footing intraday with the range on either side of 102.50, whilst prelim rebalancing models tilt Dollar-negative.
• Debt futures have extended their pull-back from yesterday’s best levels to deeper lows.
• WTI and Brent futures have given up the mild gains seen in early European...

• US stocks finished predominantly lower with underperformance in the Nasdaq, whilst small caps were resilient and the Russell 2000 closed in the green
• APAC stocks were mostly positive as the risk tone improved following the predominantly negative handover from the US
• European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.2% yesterday
• DXY is a touch softer but holding...