• The BoJ defied some market bets and stuck with its ultra-easy policy settings and reaffirmed its dovish guidance.
• APAC stocks were positive albeit with price action mostly kept rangebound after the weak lead from Wall Street.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.4% yesterday.
• JPY is the standout laggard in G10 FX with USD/JPY venturing as high as 131.57...

• European equities trade marginally lower following a mixed APAC lead, US futures in-fitting
• A choppy session thus far for the USD, to the mixed fortune of peers with the CNH softer despite Chinese data
• Core fixed benchmarks are downbeat after UK and German data, with USTs in tandem directionally but with magnitudes more contained ahead of Fed's Williams
• WTI and Brent diverge given the lack of settlement while both precious and base metals...

• APAC stocks traded mixed in which most bourses lacked firm direction in the absence of a lead from the US.
• Chinese GDP, Industrial Production and Retail Sales figures all topped estimates.
• European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.2% after the cash market closed up 0.2% yesterday.
• DXY is steady on a 102 handle, EUR/USD maintains 1.08 status, JPY narrowly lags G10 FX whilst antipodeans...

• APAC stocks traded mostly higher albeit with some of the gains in the region capped amid mixed COVID-related headlines.
• China flagged nearly 60k COVID deaths since easing restrictions in December and noted severe hospitalisations remained high but had already peaked.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.5% after the cash market closed up 0.6% on Friday.
• DXY sits just below the 102 mark, EUR/USD...

• MON: Eurogroup Meeting; Chinese GDP (Q4), House Prices, Industrial Output & Retail Sales (Dec).
• TUE: OPEC MOMR; German Final CPI (Dec), UK PPI (Nov), Unemployment (Nov), German ZEW (Feb), Canadian CPI (Dec), Australian Consumer Sentiment (Jan).
• WED: UK CPI (Dec), EZ Final HICP (Dec), US PPI (Dec), Retail Sales (Dec), NAHB (Jan), Canadian Producer Prices (Dec), Japanese Trade Balance (Dec).
• THU: ECB Minutes (Dec), Norges Bank,...

• European bourses are firmer across the board, Euro Stoxx 50 +0.5%, though overall action remains contained/rangebound ahead of corporate updates/Fed speak.
• US futures are similarly rangy within tighter parameters with the main futures essentially unchanged at present.
• UNH beat on top and bottom lines, TSLA reportedly to cut prices on new US models
• JPY continues to climb and weighs on the USD, though the index has derived some support from...

• APAC stocks were mostly firmer following the positive handover from Wall St. post-CPI.
• European equity futures are indicative of a relatively flat open with the Euro Stoxx 50 -0.1% after the cash market closed up 0.7% yesterday.
• DXY is on a 102 handle, EUR/USD holds on to most of its recent spoils, USD/JPY briefly slipped below 129.
• 10yr UST futures slightly eased off yesterday’s best levels but with the pullback only...

• European bourses are firmer across the board, Euro Stoxx 50 +0.5%, though price action has been fairly contained in slim pre-CPI newsflow with US futures essentially unchanged.
• Yomiuri Yen revival keeps Greenback grounded awaiting US CPI data; reports the BoJ is to review the effects of its massive monetary easing at next week's gathering.
• Bonds wane after an early bull run to and through new big figure levels for Bunds and Gilts at 138.45 and 104.14 respectively,...

• APAC stocks traded mixed as the major indices failed to fully sustain the early momentum from Wall St.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 1.0% yesterday.
• DXY remains supported around the 103 mark, JPY leads the majors following reporting around the BoJ, EUR/USD is steady on a 1.07 handle.
• BoJ is to review the side effects of its massive monetary easing at its...

• European bourses are firmer across the board, Euro Stoxx 50 +0.8%, with an easing in yields seemingly spurring a modest extension of opening gains.
• US FAA has reported a system equipment outage, all flights nationwide have been grounded, according to a source familiar via NBC
• DXY has consolidated above 103.00 to the modest detriment of peers, ex-antipodeans and Euro.
• The initial rally in fixed income has run out of steam and pulled back from...

• APAC stocks tracked the advances on Wall Street whereby US stocks saw a slight unwinding of hawkish positioning post-Powell.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.6% after the cash market closed down 0.3% yesterday.
• DXY remains on a 103 handle, AUD gained post-CPI, EUR/USD, Cable and USD/JPY sit on 1.07, 1.21 and 132 handles respectively.
• Crude futures were pressured following a large surprise...

• European bourses are under pressure, Euro Stoxx 50 -0.5%, in a continuation of the tepid APAC tone amid minimal newsflow.
• Goldman Sachs lifts its 2023 EZ GDP forecast to 0.6% (prev. -0.1%), no longer expects a euro-area recession.
• US futures are similarly contained and are diverging slightly around the unchanged mark pre-Powell; newsquawk primer available.
• Dollar is trying to regroup ahead of Fed Chair Powell, but DXY is heavy on the 103.000...

• APAC stocks traded mostly lower as the risk appetite in the region stalled following a similar handover from Wall St.
• European equity futures are indicative of a weaker open with the Euro Stoxx 50 -0.8% after the cash market closed up 1.3% yesterday.
• DXY is back on a 103 handle after a brief slip below the level, EUR/USD is contained on a 1.07 handle, Cable met resistance at 1.22.
• Crude futures were marginally lower after a pullback from...

• European bourses are firmer across the board, Euro Stoxx 50 +0.3%, as the constructive APAC tone from China's reopening leads
• US futures are in the green, ES +0.4%, in-fitting with the above sentiment ahead of Fed speak and a NY Fed Consumer Expectations survey
• DXY continues to slip below the 104.00 mark between 103.860-420 parameters towards key technical support and its December low (103.380)
• Action which is benefitting peers across the...

• APAC stocks gained with the MSCI Asia Pacific index on course to enter a bull market as the region took impetus from last Friday’s rally on Wall St.
• European equity futures are indicative of a firmer open with the Euro Stoxx 50 +0.8% after the cash market closed up 1.5% on Friday.
• DXY remains on a 103 handle, EUR/USD extended advances above 1.06 and USD/JPY retreated below 132. Antipodeans lead the majors.
• Crude futures were underpinned...

Week Ahead January 9th-13th:

• MON: Swiss Unemployment (Dec), German Industrial Output (Nov), EZ Sentix (Jan), Unemployment (Nov), Chinese Exports/Imports (Dec)
• TUE: EIA STEO; Norwegian CPI (Dec), US NFIB (Dec), Chinese M2 & New Yuan Loans (Dec)
• WED: Australian CPI (Nov)
• THU: Australian Trade Balance (Nov), US CPI (Dec), IJC (w/e 2nd Jan)
• FRI: ECB TLTRO Repayment Amount Publication; UK GDP (Nov),...

• European bourses are little changed overall but do feature a slim positive skew, Euro Stoxx 50 +0.1%, pre-NFP; US futures similarly contained
• DXY maintains its recovery momentum ahead of the US agenda with the index up to a 105.52 peak at best, with JPY taking the brunt of this.
• EGBs experienced modest but ultimately fleeting downside in wake of hot core/super-core EZ inflation, though the benchmarks are little changed overall pre-NFP
• Crude...

• APAC stocks traded with cautious gains despite a negative lead from Wall Street, and ahead of the US labour market data
• DXY traded within a tight pre-NFP range just above the 105.00 level after notching a 103.98-105.27 parameter yesterday
• China could ease "three red lines" property rules in a major shift, according to Bloomberg sources
• US House voted to adjourn until noon Friday after failing to elect a House Speaker; a source close to...

• European bourses are mixed but with a slight negative bias, Euro Stoxx 50 -0.2%, following a similar APAC handover ahead of US data with US futures little changed.
• Dollar mixed awaiting busy pm agenda on the eve of NFP and after choppy moves post-FOMC minutes with peers mixed vs USD.
• Currently, Bund, USTs and Gilts are within touching distance of the unchanged mark, with yields diverging slightly between EGBs and USTs.
• Little reaction to the...

• APAC stocks traded positively throughout most of the session but bourses later drifted off best levels; the US closed in the green after some FOMC-related volatility
• FOMC December minutes highlighted how no Fed official sees a rate cut in 2023 albeit there was no discussion about the magnitude of the hike in February
• DXY was choppy and briefly dipped under 104.00 to a session low of 103.98 before reversing to print an overnight peak; JPY outperformed among G10s and...

• European bourses have extended on Tuesday's upside, Euro Stoxx 50 +1.6%, with soft inflation data out of France adding to the week's dovish impulses.
• Stateside, futures are supported though to a lesser extent than European peers, ES +0.4%, as the region awaits key data points and the ES remains sub-3900.
• DXY has retreated with AUD outperforming while EUR remains supported on PMIs and the USD despite dovish inflation data.
• Bonds boosted once...

• APAC stocks traded mostly firmer despite the negative handover from Wall Street; Hang Seng outperformed whilst Nikkei lagged.
• European equity futures held onto modest gains with the Euro Stoxx 50 future +0.3% after the cash market closed +0.7% yesterday.
• DXY pulled back to levels under 104.50 after, technicians also eye a potential “death cross” in the index.
• US House is adjourned until 12:00EST (17:00GMT) on Wednesday after three failed...

• European bourses are firmer across the board, Euro Stoxx 50 +1.4%, as the region's strong start to 2023 continues despite soft Chinese NBS PMIs
• Stateside, futures are supported with the ES back above 3900 ahead of the week's risk events from Wednesday onwards.
• Dollar erases and reverses losses on positional, fundamental and technical grounds with EUR deflated by sub-consensus German state CPIs
• Fixed income boosted by the German inflation...

• European bourses are marginally firmer, Euro Stoxx 50 +0.2%, with the Stoxx 600 on track to end the week with upside of circa. 0.6%.
• Stateside, futures are similarly supported, ES +0.3%, though we await US monthly PCE metrics for another factor into the Fed's deliberations.
• Dollar has waned with peers taking advantage with debt continuing to decline and curves re-steepening
• Crude benchmarks are firmer and eclipsing other assets following the...

• APAC stocks traded mostly lower but drifted off worst levels following a similar performance stateside
• DXY fluctuated within a tight range in which it briefly topped 104.50 before drifting to a fresh session low; JPY lagged
• Japanese Core CPI for November rose at the fastest annual pace since 1981
• Tesla (TSLA) CEO Musk said he will not sell any more Tesla stock for at least 18-24 months; waiting to see the extent of a recession before share...