04 Feb 2025, 11:25 by Newsquawk Desk
- New 10% tariffs on China exports to the US have taken effect; China is to levy countermeasures on some US imported products with 15% tariffs on coal and LNG, as well as 10% tariff on oil, agricultural machines and some autos from the US.
- European bourses trade tentatively, Tech buoyed by strength in Infineon; US futures are modestly lower.
- DXY is flat, JPY underperforms, unwinding the prior day’s strength, and Antipodeans lag.
- Bonds pullback...
04 Feb 2025, 06:50 by Newsquawk Desk
- APAC stocks traded higher as the region reacted to US President Trump's delay of tariffs against Canada and Mexico for a month.
- However, the new 10% tariff on all China exports to the US took effect after the deadline passed.
- Furthermore, China is to levy countermeasures on some US imported products with 15% tariffs on coal and LNG, as well as 10% tariff on oil, agricultural machines and some autos from the US.
- European equity futures...
03 Feb 2025, 11:45 by Newsquawk Desk
- Trump signed a tariff order that confirms 25% tariffs on Mexico and Canada (with the exception of 10% on Canadian energy products) and 10% additional tariffs on top of existing levies for China.
- Canada has announced retaliatory action, Mexico is expected to announce its measures later today, China is to challenge tariffs at the WTO.
- European bourses sink as markets react to Trump tariffs and threatens the EU; RTY underperforms.
- USD surges...
03 Feb 2025, 06:50 by Newsquawk Desk
- Trump signed a tariff order that confirms 25% tariffs on Mexico and Canada (with the exception of 10% on Canadian energy products) and 10% additional tariffs on top of existing levies for China.
- Canada has announced retaliatory action, Mexico is expected to announce its measures later today, China is to challenge tariffs at the WTO.
- APAC stocks sold off, US equity futures are lower (ES -1.9%, NQ -2.4%), European futures point to a notably lower cash...
31 Jan 2025, 14:14 by Newsquawk Desk
- MON: Chinese New Year (Market Holiday - Mainland Closed, Hong Kong Open), BoJ Summary of Opinions, OPEC+ JMMC Meeting, Chinese Final Caixin Manufacturing PMI (Jan), EZ/UK/US Final Manufacturing PMI (Jan), EZ Flash CPI (Jan), US ISM Manufacturing PMI (Jan)
- TUE: Chinese New Year (Market Holiday - Mainland Closed, Hong Kong Open), Riksbank Minutes
- WED: ECB Wage Tracker, US JOLTS (Dec), New Zealand Labour Market Report (Q4), South Korean CPI (Jan), EZ/UK/US...
31 Jan 2025, 11:10 by Newsquawk Desk
- European bourses gain, NQ outperforms with AAPL +3.5% in the pre-market after strong growth in services segment.
- USD mixed vs. peers ahead of core PCE; JPY underperforms.
- Fixed benchmarks bounce on cool German State CPIs, which has led to outperformance in Bunds.
- Crude pares initial premia awaiting updates from Trump regarding tariffs on Canada/Mexico oil.
- Looking ahead, German CPI, US PCE, Employment Costs, Canadian...
31 Jan 2025, 06:52 by Newsquawk Desk
- APAC stocks were mostly higher but with gains capped at month-end and as participants digested earnings and tariff threats.
- US President Trump said he will put a 25% tariff on Canada and Mexico because of fentanyl, and stated that China is going to end up paying a tariff as well.
- US President Trump posted on Truth Social that the US will require commitment from BRICS countries to neither create a new BRICS currency nor back any other currency to replace the mighty...
30 Jan 2025, 11:45 by Newsquawk Desk
- European bourses hold an upward bias into the ECB; RTY outperforms post-FOMC.
- Big-Tech results were mixed; META +2.4%, MSFT -3.5%, TSLA +1.7%
- USD steady post-FOMC, EUR eyes ECB 25bps rate cut; USD/JPY below 154.50.
- Powell props up bonds, weaker-than-expected EZ GDP spurred little reaction in Bunds ahead of the ECB.
- Crude slips on tariffs and growth fears, base metals edge a little higher despite China being on...
30 Jan 2025, 07:00 by Newsquawk Desk
- APAC stocks were ultimately mixed amid the ongoing mass closures in the region and after the choppy performance stateside in reaction to the FOMC, while the first earnings results from the magnificent 7 stocks were also varied - Meta +2.3%, Microsoft -4.6%, and Tesla +4.1%.
- An immediate hawkish reaction was seen as the Fed held rates at 4.25-4.50%, as expected, while it removed the reference that "inflation has made progress toward the Committee's 2 percent objective" in the accompanying...
29 Jan 2025, 11:40 by Newsquawk Desk
- European bourses mostly firmer, with Tech surging after blockbuster ASML bookings; NQ slightly outperforms.
- USD is a little firmer ahead of the FOMC, CAD awaits BoC, AUD softer post-CPI.
- Bonds are bid into the FOMC. BTPs & OATs attentive to domestic matters.
- Crude slides and metals trade mixed ahead of FOMC.
- Looking ahead, US Advance Goods Trade Balance, NZ Trade Balance, Fed, BoC, & BCB Policy Announcements...
29 Jan 2025, 07:00 by Newsquawk Desk
- APAC stocks traded higher following the positive handover from Wall St where tech clawed back some of the DeepSeek-related losses.
- European equity futures indicate a positive open with Euro Stoxx 50 future up 0.8% after the cash market closed with gains of 0.1% on Tuesday; boosted by pre-market earnings from ASML.
- DXY is a touch lower, JPY, EUR and GBP are all marginally firmer vs. the USD, AUD lags post-CPI.
- Microsoft (MSFT) is probing if a...
28 Jan 2025, 10:45 by Newsquawk Desk
- European bourses are on a firmer footing; NQ outperforms with NVIDIA +5% in pre-market trade.
- USD bounces back following punchy Trump tariff rhetoric; G10s broadly in the red.
- Bonds continue to pullback from Monday's largely tech-driven highs, supply in focus.
- Energy is firmer but base metals are mixed amid tariff threats.
- Looking ahead, US Durable Goods, Richmond Fed Index, NBH Policy Announcement & US Senate...
28 Jan 2025, 06:40 by Newsquawk Desk
- APAC stocks were mixed amid holiday-thinned conditions on Chinese New Year's Eve and after the recent US tech sell-off.
- US President Trump said he wants universal tariffs much larger than a 2.5% monthly increase and has a tariff level in mind but has not set it yet.
- European equity futures indicate a marginally positive open with Euro Stoxx 50 futures up 0.1% after the cash market fell 0.6% on Monday.
- USD is firmer vs. peers following...
27 Jan 2025, 11:20 by Newsquawk Desk
- Risk sentiment hit by DeepSeek threatening US AI dominance, NQ -4.8% & ES -2.7%; NVDA -13.5% in premarket trade
- European bourses are also mostly in the red, Tech lags with ASML -10.6% while Energy names are hit on this and numerous other factors
- Additionally, disappointing Chinese PMI data overnight, Trump's tariff announcement on Colombia and reports around MXN & CAD also weigh on the risk tone.
- DXY is at session lows with 107.00...
27 Jan 2025, 07:30 by Newsquawk Desk
- APAC stocks traded mixed in a holiday-thinned start to the week, with markets in Australia, South Korea and Taiwan closed overnight, and ahead of Mainland China’s week-long holiday starting Tuesday.
- Hang Seng and Shanghai Comp were kept afloat despite the disappointing PMI data which showed headline Chinese Manufacturing PMI back in contraction territory.
- US President Trump announced the US will impose emergency 25% tariffs on all Colombian goods coming into the US...
24 Jan 2025, 13:49 by Newsquawk Desk
- MON: Chinese Industrial Profit (Dec), German Ifo (Jan), US New Home Sales (Dec)
- TUE: ECB BLS (Q1); US Durable Goods (Dec), Richmond Fed (Jan), Tech Earnings
- WED: FOMC, Riksbank, BoC & BCB Policy Announcements; Australian CPI (Dec), German GfK (Feb), EZ M3 (Dec)
- THU: ECB & SARB Policy Announcements, CBRT Minutes (Jan), RBA Bulletin; EZ Flash Prelim. GDP (Q4), US Jobless Claims (w/e 25th), US PCE/GDP (Q4), Japanese...
24 Jan 2025, 11:15 by Newsquawk Desk
- European bourses mostly firmer, whilst US futures tilt a little lower; Burberry +15% post-results.
- DXY in the doldrums as Trump waters down tariff rhetoric and calls for lower interest rates.
- USTs a little firmer, Bunds pressured by EZ PMIs and BoJ Governor Ueda spurs JGB action.
- Base metals soar amid Trump's China commentary and a weaker dollar.
- BoJ hiked rates by 25bps to 0.50%, as expected via an 8-1 vote with...
23 Jan 2025, 11:40 by Newsquawk Desk
- European bourses are mixed, tech-heavy NQ slightly underperforms after SK Hynix highlights demand concerns.
- USD flat with price action contained in quiet trade; markets await US President Trump at Davos.
- Bonds hold a bearish bias into Trump though benchmarks bounced briefly on strong UK & French supply, but returned to session lows.
- Crude a little firmer, Base metals continue to be subdued by Trump tariff...
23 Jan 2025, 06:50 by Newsquawk Desk
- APAC stocks traded with a mostly positive bias after gains on Wall St where the S&P 500 printed a fresh record high.
- European equity futures indicate a slightly lower cash open with Euro Stoxx 50 future down 0.2% after the cash market finished with gains of 0.8% on Wednesday.
- DXY is rangebound, EUR/USD and Cable sit just above 1.04 and 1.23 respectively, JPY lacks direction ahead of the BoJ tomorrow.
- Looking ahead, highlights...
22 Jan 2025, 11:15 by Newsquawk Desk
- European bourses trade at best levels, Stoxx 600 makes a record high; NQ outperforms as President Trump announces a USD 500bln AI investment.
- USD tilts lower as markets await further developments from the Trump administration.
- USTs are a little firmer, Bunds bounce on ECB Lagarde remarks, who is seemingly not too concerned about US tariffs at this point in time.
- A softer dollar supports oil and precious metals, but base metals trade mixed on...
22 Jan 2025, 06:55 by Newsquawk Desk
- APAC stocks traded mixed as most major indices took impetus from the gains on Wall St after President Trump's first full day back in office although Chinese markets lagged after Trump suggested 10% tariffs on China.
- US President Trump said they are talking about a 10% tariff on China from 1st February for them sending fentanyl to Canada and Mexico, while he added that the European Union treats the US badly and that the EU will be in for tariffs.
- US President Trump...
21 Jan 2025, 11:30 by Newsquawk Desk
- European bourses are modestly firmer, US futures edge higher with the RTY outperforming ahead of the first full day of trade as Trump returns to office.
- USD bounces back from Monday's selling as tariff threats loom; the Loonie underperforms as Trump signals tariffs on Canada & Mexico.
- Benchmarks have pared initial early morning upside, with USTs a little firmer whilst Bunds dip into the red.
- Crude and base metals on the backfoot amid...
21 Jan 2025, 06:50 by Newsquawk Desk
- APAC stocks were mixed as the initial risk-on sentiment after US President Trump refrained from imposing tariffs on day one faded.
- US President Trump said he is thinking of 25% tariffs on Mexico and Canada and thinks that they will do it on February 1st.
- European equity futures indicate a lower cash open with Euro Stoxx 50 future down 0.4% after the cash market closed with gains of 0.3% on Monday.
- DXY is attempting to recoup some of its...
20 Jan 2025, 06:50 by Newsquawk Desk
- APAC stocks were mostly higher following last Friday's gains on Wall St; markets look ahead to Trump's inauguration.
- Trump provided reprieve for TikTok from the US ban; also said he is set to sign dozens of executive orders within hours of taking office.
- European equity futures indicate a steady cash market open with the Euro Stoxx 50 future flat after the cash market closed higher by 0.8% on Friday.
- DXY is softer but holding above the...
17 Jan 2025, 13:44 by Newsquawk Desk
- MON: US Presidential Inauguration, PBoC LPR, Eurogroup Meeting; German Producer Prices (Dec)
- TUE: UK Unemployment/Wages (Nov), German ZEW (Jan), Canadian CPI (Dec), New Zealand CPI (Q4)
- WED: South African CPI (Dec), Japanese Trade Balance (Dec)
- THU: Norges Bank & CBRT Policy Announcements; US Jobless Claims (w/e 18th), Canadian Retail Sales (Nov), Japanese CPI (Dec), Swiss KOF (Jan)
- FRI: BoJ Policy...