31 May 2021, 09:30 by Newsquawk Desk
- MON: Israel Rate Decision; Chinese Official PMI (May); German Prelim. CPI (May); UK and US market holidays.
- TUE: RBA Policy Decision; JMMC Meeting; Chinese Caixin Manufacturing PMI Final (May); German Retail Sales (Apr) and Unemployment; EZ and UK Manufacturing PMI Final (May); EZ Flash CPI (May); Canadian GDP (Q1); US ISM Manufacturing PMI (May) and Markit Manufacturing Final PMI (May).
- WED: Israeli Presidential Election; EU Commission Fiscal Proposals/Guidance; Australian Real GDP (Q1).
- THU:...
31 May 2021, 06:55 by Newsquawk Desk
- Asian equity markets began the week subdued with risk appetite sapped amid holiday closures for key global markets
- Headline Chinese Manufacturing PMI slightly missed expectations whilst Non-Manufacturing topped forecasts
- DXY heads into the EU session around 90.00, EUR/USD trades circa 1.22 and GBP/USD eyes 1.42
- Key GOP Senators in infrastructure discussions with the White House suggested over the weekend that they were still looking for a...
28 May 2021, 12:03 by Newsquawk Desk
- Equities are mildly positive this morning in a contained/apprehensive move ahead of data and into month-end
- FX has for the most part been contained with the DXY holding 90.00 and JPY sub-110.00 with OpEx in focus but attention on the Yuan after a strong PBoC fix
- ECB's Schnabel says a premature removal of ECB support would be a great mistake though financing conditions remain favourable; welcomed the recent yield increase
- Salesforce beat on...
28 May 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly higher; Nikkei 225 outperformed on the back of the weaker JPY
- In FX, the DXY consolidated around 90.00, USD/JPY hovered close to 110.00; and the Yuan continued to strengthen
- US bipartisan bill to counter China received enough support to advance in the US Senate
- BoJ is reportedly to consider a 6-month extension to the September deadline for the pandemic-relief program
- OPEC+ is...
27 May 2021, 11:54 by Newsquawk Desk
- European bourses have been choppy but generally directionless and rangebound while US futures see a marginal negative bias
- DXY is oscillating the 90.00 mark with little conviction in moves either way and peers essentially unchanged across the board and similar action seen across debt thus far
- The call between China's Vice Premier Liu He and USTR Tai was said to be candid and constructive, while both sides agreed to maintain communication
- US...
27 May 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded choppy after the mild positive bias from Wall Street wore thin as month-end looms
- In FX, the DXY consolidated at 90.00, EUR/USD failed to reclaim 1.2200, whilst USD/CNH and USD/CNY remained below 6.4000
- The call between China's Vice Premier Liu He and USTR Tai was said to be candid and constructive, while both sides agreed to maintain communication
- US President Biden's administration and other Democrats close to the...
26 May 2021, 11:35 by Newsquawk Desk
- European bourses are marginally pressured while US futures tread water in quiet newsflow ahead of month-end; ES +0.2%
- ECB's Panetta says that current conditions do not justify reducing the pace of purchases, and a discussion about phasing out PEPP is premature
- Antipodeans remain the clear outperformers post-RBNZ while the USD has remained bid after EUR slipped on Panetta and JPY errs lower
- RBNZ stood pat on the OCR and LSAP as expected, but...
26 May 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks were mostly positive in what was a modest improvement from the subdued performance on Wall Street
- Most major US indices posted marginal losses, although the Nasdaq 100 bucked the trend amid resilience in tech
- Fed Vice Chair Clarida agreed with the FOMC minutes that there will be a time at upcoming meetings where the Fed could start to discuss tapering
- The DXY remains firmly below 90.00, EUR/USD trades above 1.2250 and GBP/USD...
25 May 2021, 11:39 by Newsquawk Desk
- European bourses are contained but experiencing some slight divergence and have waned off initial best levels though the NQ remains the narrow outperformer
- US Republican Senator Wicker said the GOP could support a total USD 1tln infrastructure package
- Reports note speculation of intervention by China state banks in USD/CNY and USD/CNH around the 6.4000 level
- DXY remains depressed and sub last week's trough to the benefit of peers across the...
25 May 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded higher after taking the impetus from the encouraging performance in the US
- Major US indices gained, led by outperformance in tech amid a decline in yields and alongside a rebound in crypto
- The DXY remained subdued beneath 90.00, EUR/USD extended on advances above 1.22 and GBP/USD above 1.4150
- EU leaders have agreed on a set of sanctions to be imposed on Belarus
- US Republican Senator Wicker said...
24 May 2021, 11:45 by Newsquawk Desk
- European bourses are modestly firmer though there are a number of closures given Whit Monday while US futures outperform modestly in quiet trade
- The USD has been downbeat for much of the morning to the benefit of EUR in particular though the DXY did stage a short-lived resurgence
- China's NDRC reportedly held discussions with major commodity firms and pledged to have zero tolerance on commodity futures violations
- US Secretary of State Blinken...
24 May 2021, 09:00 by Newsquawk Desk
- MON: Canadian Holiday (Victoria Day); EZ Holiday (Whit Monday); US-China meeting (TBC).
- TUE: NBH Policy Decision; Indonesian Rate Decision; Special European Council Meeting; German Ifo Survey (May) and GDP Detailed (Q1); New Zealand Trade Balance (Apr).
- WED: RBNZ Policy Decision; Riksbank Financial Stability Report (H1-2021).
- THU: BoK Policy Decision; German GfK Consumer Sentiment (Jun); US GDP 2nd (Q1) and Durable Goods...
24 May 2021, 06:54 by Newsquawk Desk
- Asia-Pac equities began the week choppy following on from last Friday’s mixed performance on Wall Street, light weekend newsflow and heading into month-end
- China's NDRC reportedly held discussions with major commodity firms and pledged to have zero tolerance on commodity futures violations
- DXY trades sub-90.0, EUR/USD and GBP/USD sit on 1.21 and 1.41 handles respectively, USD/JPY was capped by 109.00
- US Secretary of State Blinken stated...
21 May 2021, 11:58 by Newsquawk Desk
- Major bourses in Europe are mostly higher but off best levels; US equity futures trade sideways
- The DXY has extends losses below 90.00, EUR/USD maintains 1.22 and Cable reclaimed 1.42 after PMIs
- US Republicans and Democrats have privately admitted there hasn’t been much progress so far on the infrastructure bill
- Israel and Hamas have agreed to a cease-fire on the Gaza Strip, commencing today
- Germany and France have...
21 May 2021, 06:55 by Newsquawk Desk
- Asian equity markets were mixed after failing to sustain the early momentum from the constructive mood on Wall Street
- All major US indices finished higher amid a tech-led rebound. EU equity futures head into the open slightly firmer
- The DXY remains subdued beneath 90.00, EUR/USD and GBP/USD maintain 1.22 and 1.41 status respectively
- Israel and Hamas have agreed to a cease-fire on the Gaza Strip, commencing today
- US...
20 May 2021, 11:51 by Newsquawk Desk
- European bourses trade mixed as the earlier mild optimism faded; US equity futures have been erring lower
- The White House is planning to submit its rebuttal to the Senate GOP infrastructure offer by Friday; Republicans are concerned that a deal may not be possible
- Iranian President Rouhani said main agreement has been reached in Vienna including the removal of major sanctions; other issues are still being discussed
- In FX, the DXY has been...
20 May 2021, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed with the region cautious following the mostly negative lead from the US
- April FOMC Minutes gave a nod to potential taper discussions in the approaching meetings
- In FX, the DXY is relatively steady above 90.00, EUR/USD remains sub-1.22 and GBP/USD sits on a 1.41 handle
- WTI crude futures have stabilised around USD 63.50bbl, spot gold prices remain elevated
- Looking ahead, highlights...
19 May 2021, 11:50 by Newsquawk Desk
- Stocks in Europe have continued drifting lower; US equity futures are also lower across the board with the NQ lagging
- German bund yield topped -10bps in early trade whilst US 10yr cash yield remains above 1.65%
- There has been progress in JCPOA talks but the sides have not yet achieved a breakthrough, according to European sources
- In FX, the DXY rebounded but remains sub-90.00, EUR/USD holds on to 1.22 status and GBP/USD hovers around...
19 May 2021, 06:55 by Newsquawk Desk
- Asian equity markets were mostly negative, US equity futures extended on the losses seen during the prior session
- Russia's envoy to JCPOA talks said important news is likely to be released by this Wednesday, although he later backtracked
- In FX, the DXY remains sub-90.00, EUR/USD holds on to 1.22 status and GBP/USD met resistance at 1.42
- Biden administration was said to be encouraged by the bipartisan infrastructure...
18 May 2021, 11:41 by Newsquawk Desk
- Major bourses in Europe have drifted off best levels; US equity futures traded sideways with the NQ narrowly outperforming
- In FX, the DXY lost its 90.00 handle whilst EUR/USD and GBP/USD topped 1.2200 and 1.4200 respectively and USD/JPY dipped below 109.00
- Bent July futures rose above USD 70/bbl for the first time since March while WTI July tested USD 67/bbl to the upside
- US Senator Capito said the Republican infrastructure proposal is on...
18 May 2021, 06:55 by Newsquawk Desk
- Asian equities traded mostly positive as the region shrugged off the negative lead from Wall Street
- In FX, the DXY remains subdued, EUR/USD extended gains above 1.2150 and GBP/USD trades at its best level in over two months
- WTI crude futures eked marginal gains to trade around the USD 66.50/bbl level
- US Senator Capito said the Republican infrastructure proposal is on track to be sent to President Biden on...
17 May 2021, 11:36 by Newsquawk Desk
- Major bourses in Europe trade with little conviction whilst US equity futures remain contained with a downside bias
- Chinese industrial production printed inline with estimates and retail sales disappointed but still showed respectable growth
- China will extend tariff exemption for some US imported products from May 19th, according to the Finance Ministry
- In FX markets, DXY remains soft under Friday's lows; EUR/USD reclaimed 1.2150, GBP/USD...
17 May 2021, 09:00 by Newsquawk Desk
- MON: Eurogroup Meeting; Chinese Retail Sales and Industrial Production (Apr)
- TUE: RBA Minutes (April); EU Economic & Financial Affairs Council; Japanese GDP (Q1); UK Jobs Report (Mar); EZ Employment (Q1) and GDP (Q1)
- WED: FOMC Minutes (April); UK Inflation (Apr); EZ CPI (Apr) Canadian CPI (Apr); Hong Kong Holiday
- THU: PBoC LPR, SARB Rate Decision, BoC Financial System Review presser; EU Foreign Affairs Council Meeting (Trade);...
17 May 2021, 06:56 by Newsquawk Desk
- Asian equities traded somewhat mixed and only partially benefitted from last Friday’s rebound on Wall St.
- Chinese industrial production printed inline with estimates and retail sales disappointed but still showed respectable growth
- In FX markets, the DXY heads into the European open firmer, EUR/USD pulled back from 1.2150 and GBP/USD sits on a 1.40 handle
- WTI crude futures were uneventful overnight, whilst gold prices remained firm above USD...
14 May 2021, 11:35 by Newsquawk Desk
- European bourses are firmer following the positive APAC performance with US futures following suit ahead of data, ES +0.6%
- USTs have been climbing all morning recovering recently lost ground with yields suppressed and the USD downbeat as such to the modest benefit of peers
- President Biden told Republicans that he wants to see real progress on a possible bipartisan deal by Memorial Day
- Israeli PM Netanyahu is reportedly showing signs of...