06 Sep 2021, 06:55 by Newsquawk Desk
- Asia-Pac stocks were mostly positive but with gains somewhat limited post-NFP
- Nikkei 225 (+1.8%) continued the outperformance that was spurred by the approaching leadership change in Japan
- US equity futures were contained amid the Labor Day holiday
- In FX, the DXY has attempted to claw back recent losses. EUR/USD has been unable to hold onto 1.19 status
- UK PM Johnson is facing a tough battle to persuade the...
03 Sep 2021, 11:53 by Newsquawk Desk
- European bourses are contained but with a negative bias while US futures have a slight positive bias, ES +0.2%
- Both Caixin Services and Composite PMIs fell into contractionary territory
- FX space is very contained with antipodeans modestly outperforming once again while USD/JPY rose above 110.00 briefly amid political updates
- Japanese PM Suga will not run in the LDP leadership race and is set to step down as...
03 Sep 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses showed a positive bias after further disappointing PMIs from China only partially offset the tailwinds from the US
- Yesterday, the S&P 500 and Nasdaq Comp registered fresh all-time highs
- Both Caixin Services and Composite PMIs fell into contractionary territory
- Japanese PM Suga will not run in the LDP leadership race and is set to step down as PM
- In FX, the DXY remains subdued, Antipodeans...
02 Sep 2021, 11:40 by Newsquawk Desk
- European bourses/US futures are modestly firmer in quiet and rangebound trade before today's US data; ES +0.2%
- FX sees the DXY lower but still above Wednesday's trough with peers, ex-CHF/JPY, firmer
- WTI & Brent have recovered from yesterday's downside and the benchmarks are modestly firmer post-OPEC
- Looking ahead, highlights include US Challenger Layoffs, IJC, Canadian Trade Balance, Factory Orders, Fed's...
02 Sep 2021, 06:54 by Newsquawk Desk
- Asian equity markets took their cues from a similar indecisive performance stateside
- Price action in the FX space is contained as DXY oscillates around the 92.50 mark
- Post-tropical storm Ida continued to cause havoc stateside with NYC declaring a state of emergency
- WTI crude futures are slightly lower after OPEC+ agreed to stick to the existing policy of gradual oil output hikes
- Looking ahead, highlights include...
01 Sep 2021, 11:42 by Newsquawk Desk
- European bourses/US futures are firmer but off highs after a cautious APAC handover following Chinese PMIs and before Tier 1 US data; ES +0.3%
- Chinese Caixin PMI slipped into contractionary territory for the first time since April last year
- The morning's OPEC related sources indicate that they will continue with current policy i.e. +400k BPD
- DXY is downbeat with peers mixed as USD/JPY rises with UST yields, though these are off best...
01 Sep 2021, 06:54 by Newsquawk Desk
- Asian stocks traded cautiously after further disappointing Chinese PMI data and a soft handover from the US
- That said, losses on Wall Street were marginal and all major indices registered a seventh consecutive monthly gain for August
- Chinese Caixin PMI slipped into contractionary territory for the first time since April last year
- In FX, the DXY has pared some of its recent losses, EUR/USD has lost 1.18 status, havens...
31 Aug 2021, 11:47 by Newsquawk Desk
- European bourses are firmer though are off post-EZ CPI highs, Euro Stoxx 50 +0.4%; US futures have pared overnight gains, ES +0.1%
- Chinese Manufacturing PMI missed estimates, while Non-Manufacturing and Composite PMI both showed a contraction for the first time in 16 months
- The DXY remains downbeat with peers bid across the board but NZD the main beneficiary taking impetus from AUD/NZD action
- Core debt is depressed with pressure exacerbated...
31 Aug 2021, 06:54 by Newsquawk Desk
- The S&P 500 and Nasdaq extended on record highs led by growth and tech
- Asian equity markets traded cautiously as participants digested disappointing Chinese PMI data
- Chinese Manufacturing PMI missed estimates, while Non-Manufacturing and Composite PMI both showed a contraction for the first time in 16 months
- The DXY remains subdued just above 92.50, EUR/USD has traded on either side of 1.18, NZD outperforms after reclaiming...
30 Aug 2021, 11:33 by Newsquawk Desk
- European equity bourses and US futures are modestly firmer but near unchanged levels in minimal newsflow; ES +0.1%, RTY +0.3%
- USD is bid but the index remains sub-93.00 as antipodeans and CHF take the brunt of the downside while core debt is marginally firmer
- China has unveiled new restrictions on young people playing online games, Xinhua; separately, China is said to ask brokers to increase supervision of margin trading
- Oil producers in the...
30 Aug 2021, 09:00 by Newsquawk Desk
- MON: UK Holiday (Summer Bank Holiday); German Flash CPI (Aug); EZ Sentiment Survey (Aug)
- TUE: OPEC+ JTC Meeting; Chinese Official PMIs (Aug); EZ Flash CPI (Aug); Canadian GDP (Q2)
- WED: OPEC+ Meetings, Australian GDP (Q2); Chinese Caixin Manufacturing Final PMI (Aug); German Retail Sales (Jul); EZ, UK, US Manufacturing PMI Final (Aug); US ISM Manufacturing PMI (Aug)
- THU: EZ PPI (Aug); US Challenger Layoffs (Aug); US Durable Goods R...
30 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks were mostly positive with the region mildly taking impetus from last Friday's gains on Wall St
- The S&P 500 and Nasdaq extended on record highs post-Powell
- In FX, the DXY remains softer and sub-93.00, EUR/USD has reclaimed 1.18 status
- The SPD has continued to make further gains in the latest polling data with Scholz coming out on top in the latest debate
- Oil producers in the Gulf of Mexico shut in...
27 Aug 2021, 11:42 by Newsquawk Desk
- European bourses are little changed while US futures have a marginal upward bias in limited newsflow pre-Powell
- Fed speak via just Bostic thus far, who stuck to his familiar 'hawkish' language around a taper
- The DXY straddles 93.00 and is marginally softer with peers contained; core debt is slightly softer but well within proximity to the U/C mark
- Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard...
27 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded mixed although have shown an improvement compared to the losses in global counterparts
- Losses in the US came in the context of recent hawkish Fed rhetoric ahead of Powell and events in Afghanistan
- The DXY straddled 93.00 amid a non-committal tone and contained price action in the FX space
- Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard could be appointed as...
26 Aug 2021, 11:48 by Newsquawk Desk
- European bourses are softer across the board with US futures also pressured albeit to a lesser extent, ES -0.1%
- DXY is firmer but capped by 93.00 with peers subdued across the board while debt continues to pullback but has stabilised slightly most recently
- Fresh newsflow has been sparse and largely on geopols/COVID-19 boosters and as such not moving the macro dial
- The BoK became the first major Asian central bank to hike rates since the...
26 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded cautiously amid a deluge of earnings releases and as markets await Jackson Hole
- US equity futures trickled lower overnight following another consecutive day of record highs on Wall St
- The BoK became the first major Asian central bank to hike rates since the pandemic began
- In FX, the DXY remains lacklustre beneath 93.00, EUR/USD and GBP/USD remain steady on 1.17 and 1.37 handles...
25 Aug 2021, 11:32 by Newsquawk Desk
- European equity bourses/US futures are essentially unchanged amid minimal newsflow in the European morning; ES +0.1%
- The DXY has been choppy within ranges and currently sub-93.00 with peers mixed but near-unchanged; debt is downbeat after earlier upside fizzled out in EGBs
- US VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullying
- The House voted to approve the USD 3.5tln budget blueprint and advance...
25 Aug 2021, 06:54 by Newsquawk Desk
- Asian stocks traded somewhat mixed and failed to fully sustain the early momentum from the US
- The S&P 500 and Nasdaq extended on record highs amid notable strength in cyclicals
- US VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullying
- The House voted to approve the USD 3.5tln budget blueprint and advance the USD 1tln infrastructure bill
- The DXY heads into the European...
24 Aug 2021, 11:46 by Newsquawk Desk
- US equity futures are firmer off-best levels, with NQ modestly outperforming while European bourses are mixed/lower after a firmer start
- In FX, the DXY trades above 93.000, EUR/USD encountered resistance ahead of 1.1750 while Cable briefly lost 1.37 and antipodeans outperform
- RBNZ's Hawkesby said the RBNZ considered raising the OCR by 50bps at the recent meeting; decided to hold rates due to a communications challenge not economic risks.
- US...
24 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks sustained the momentum from Wall St; US equity futures traded sideways overnight
- In FX, the DXY traded on either side of 93.000, EUR/USD encountered resistance ahead of 1.1750, and antipodeans outperformed
- Chinese President Xi Jinping may not attend the G20 summit in Rome at the end of October which would delay a potential meeting with President Biden
- US VP Harris said China's actions in the South China Sea continue to...
23 Aug 2021, 11:42 by Newsquawk Desk
- European bourses are firmer but off-highs, Euro Stoxx 50 +0.3%; US futures have been steady and contained with the RTY outperforming
- DXY is pressured as activity-FX rebounds from last week's declines, whilst havens lag
- Flash PMIs were mixed but overall below forecasts - reactions were minimal
- The Fed’s Jackson Hole Symposium is shifting to a virtual event from the initial in-person format; schedule release August 26th at...
23 Aug 2021, 09:00 by Newsquawk Desk
- MON: Bank of Israel Policy Decision; UK, EZ and US Flash PMIs (Aug); New Zealand Retail Sales (Jul)
- TUE: NBH Policy Decision; New Zealand Trade Balance (Jul)
- WED: German Ifo Survey (Aug); US Durable Goods (Jul)
- THU: Fed Jackson Hole Symposium (26th - 28th), Australian Retail Sales (Aug), BoK Policy Decision; German GfK Consumer Sentiment (Sep); US GDP 2nd (Q2).
- FRI: Fed Jackson Hole Symposium (26th - 28th),...
23 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses were firmer throughout the night; US equity futures also drifted higher
- In FX, the DXY marginally pulled back from recent gains, high-betas outperformed, and havens lagged
- The Fed’s Jackson Hole Symposium is shifting to a virtual event from the initial in-person format
- Fed's Kaplan (2023 voter) stated if they saw that the Delta variant would be persistent or start to affect demand, they would have to adjust...
20 Aug 2021, 11:21 by Newsquawk Desk
- Risk sentiment is slightly softer but performance overall is contained, ES -0.2%, amid limited newsflow
- DXY is firmer and remains above 93.50, with activity currencies lagging and safe-havens marginally positive once again
- China's legislature passed the Personal Information Protection Law
- Fed Chair Powell is to speak on 'The Economic Outlook' at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT
- Looking...
20 Aug 2021, 06:54 by Newsquawk Desk
- The mood in Asia was mostly subdued following on from the losses in European bourses and indecision stateside
- Energy was the worst-performing US sector once again as oil retreated for a 6th consecutive day and cyclicals lagged
- China's legislature passed the Personal Information Protection Law
- In FX, the DXY remains firm above 93.50, EUR/USD and GBP/USD remain on 1.16 and 1.36 handles respectively
- Looking ahead,...