17 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded in a subdued manner with participants cautious ahead of the FOMC announcement later today
- The US doesn't expect specific negotiated deliverables or a joint statement from its meeting with China
- In FX, the DXY has seen mild support with an eye on 92.00, EUR/USD hovers around 1.19 and GBP/USD remains sub-1.39
- Italy and France have signalled that they are prepared to end their suspension of the AstraZeneca...
16 Mar 2021, 11:00 by Newsquawk Desk
- European equity indices are firmer on the session, US futures are mixed; RTY underperforms
- DXY is firmer as peers trade predominantly negative; GBP/USD trades on a low 1.38 handle
- Oil continues to feel pressured and resides around session lows, precious metals follow the softer sentiment
- AstraZeneca vaccine rollout continues to be halted across Europe despite several authorities stating the risk/reward ratio remains a positive...
16 Mar 2021, 06:54 by Newsquawk Desk
- Asian equities traded higher following the positive performance on Wall Street where the S&P 500 and DJIA extended on record levels
- The Nasdaq led the advances as tech and growth were favoured as yields eased
- In FX, the DXY is steady around 91.80, EUR/USD was contained on a 1.19 handle and GBP/USD extended its move below 1.39
- WTI crude futures were contained beneath USD 65.00/bbl following the declines during yesterday's...
15 Mar 2021, 11:00 by Newsquawk Desk
- European equity indices & US futures are firmer; E-mini S&P +0.2%
- DXY is firmer as peers trade mixed; EUR/USD and GBP/USD maintain 1.19 and 1.39 status respectively
- Oil has pared back from session highs to be near flat on the day. Precious metals trade somewhat choppy
- White House is expected to propose tax increases include raising corporation tax to 28% from 21%
- Looking ahead, highlights include ECB asset...
15 Mar 2021, 09:00 by Newsquawk Desk
- SUN: German Regional State Elections
- MON: Chinese Retail Sales and Industrial Output (Feb); Eurogroup Meeting
- TUE: RBA Minutes (Feb); German ZEW Survey (Mar); US Retail Sales (Feb); Japanese Trade Balance (Feb)
- WED: FOMC Policy Announcement; BCB Policy Announcement; EZ Final CPI (Feb); Canadian CPI (Feb); New Zealand GDP (Q4); IEA MOMR; Dutch General Election
- THU:...
15 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed with the region tentative heading into this week's plethora of central bank announcements
- Chinese activity data showed a larger than expected increase in Industrial Production and Retail Sales; supported by base effects
- This week’s high-level meeting between the US and China is not likely to lead to any major diplomatic breakthrough, according to Chinese observers
- In FX, the DXY was steady around 91.70,...
12 Mar 2021, 11:52 by Newsquawk Desk
- Equity indices are softer this morning in Europe as are US futures, ES -0.6%, NQ -1.8%, as tech pulls back from yesterday's gains with yields gaining ground
- Pressure in the space has been evidenced since the European cash open as US 10yr yields advanced to 1.6140% session highs thus far; elevating the DXY to near-92.00
- Sentiment was mixed in APAC trade with China bourses weighed on trade tensions from multiple perspectives
- WHO spokesperson...
12 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets mostly took impetus from the gains on Wall Street where the S&P 500 and the DJIA notched fresh record highs, Nasdaq outperformed
- US President Biden signed the USD 1.9tln COVID-19 relief bill, as expected. Direct deposits could be received by US citizens this weekend
- US State Department spokesman said the US will not pull any punches in areas of disagreement with China
- The DXY recouped some of yesterday’s losses after...
11 Mar 2021, 11:53 by Newsquawk Desk
- European bourses are somewhat mixed after dipping post-open while US futures are firmer with the NQ +1.8% outperforming
- FX features a subdued USD to the benefit of major peers while UST 10yr yields dip below 1.50% but EZ counterparts are now largely unchanged retracing earlier action
- Danish Health Authority has temporarily halted the use of the AstraZeneca (AZN LN) COVID-19 vaccine due to serious cases of blood clots
- Looking ahead,...
11 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded mostly positive as the region built upon the somewhat mixed performance stateside
- The DJIA posted fresh record highs whilst tech suffered from a continued rotation into value
- ECB draft forecasts assume only a fleeting jump in inflation and that savings will not fuel a spending boom, according to sources
- The House passed the USD 1.9tln COVID-19 relief bill as expected; President Biden is set to sign it on...
10 Mar 2021, 11:51 by Newsquawk Desk
- Indices are mixed but largely contained on the session with US futures mixed and somewhat pressured ahead of US' arrival and as yields err higher with focus on CPI later; ES -0.1%
- DXY briefly dipped below 92.00 but has since regained the figure with peers a touch softer but rangebound
- The USD 1.9tln relief bill passed the procedural hurdle in the House which paves the way for a 2-hour debate and final vote on Wednesday morning
- Chinese...
10 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac markets traded with a slight positive bias following on from the gains on Wall Street where stocks were led higher by an aggressive resurgence in tech
- The Nasdaq 100 surged higher by over 4% for its largest gain since November with advances also facilitated by an easing of yields
- Chinese inflation data was firmer than expected but still showed CPI Y/Y in negative territory at -0.2% vs. exp. -0.4%
- In FX, the DXY sits on a 92.00...
09 Mar 2021, 11:53 by Newsquawk Desk
- European indices are firmer across the board, Euro Stoxx 50 +0.5%, though US futures outperform with the Nasdaq +2.4% recuperating some of yesterday's losses
- APAC markets were mixed with China pressured but derived short-lived support from reports that state funds were said to purchase domestic equities after a worsening of the plunge
- The OECD upgraded their 2021 & 2022 global GDP view vs the December release
- US President Biden is...
09 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded choppy following the mixed lead from Wall St where the DJIA outperformed to post a fresh record high
- The Nasdaq 100 slumped by nearly 3% amid a heavy rotation out of tech and into value
- In FX, the DXY maintained a footing above 92.00, EUR/USD sits above 1.1850 and GBP/USD maintains 1.38 status
- Oil prices nursed losses overnight with WTI back above USD 65.00/bbl
- Looking ahead, highlights...
08 Mar 2021, 11:50 by Newsquawk Desk
- European indices are firmer, Euro Stoxx 50 +0.9%, while US futures remain hindered amid tech underperformance, ES -0.6% & NQ -1.5%
- Brent surpassed the USD 70/bbl mark (high USD 71.38/bbl) following a Houthi attack on a Saudi oil yard, though the benchmarks have retraced this and are now negative
- The USD remains underpinned as yields climb and the curve continues to steepen, to the detriment of peers ex-GBP benefitting from EUR/GBP...
08 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets eventually traded mostly lower as underperformance in tech sapped the early momentum from stimulus progress
- The US Senate passed the USD 1.9tln COVID-19 relief bill. The House is set to vote on the bill on Tuesday
- Chinese trade data showed February YTD exports surged by 60.6% Y/Y amid soft base effects from last year
- In FX markets, the DXY briefly reclaimed 92.00, EUR/USD found a floor at 1.19, GBP/USD remains on a 1.38...
05 Mar 2021, 12:00 by Newsquawk Desk
- European equity indices have been somewhat choppy within ranges printing a slightly mixed performance while US futures are contained but erring higher
- DXY strengthens post-Powell to the detriment of peers though yields are steady but at comparatively elevated levels pre-NFP
- Crude surges after the OPEC+ confab aided by forecast upgrades from a number of banks
- China targets ’21 GDP growth of above 6% with CPI target ̴ 3% & budget deficit...
05 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses extended on recent declines amid spillover selling from the US where tech took the brunt again and the bond rout persisted
- Fed Chair Powell stuck to a dovish script and noted that that the current stance is appropriate which came as a disappointment for those awaiting commentary on SLR adjustments, YCC or operation twist
- BoJ Governor Kuroda said the BoJ will likely debate whether to expand the implicit band for the 10yr JGB yield...
04 Mar 2021, 12:00 by Newsquawk Desk
- European equity indices & US futures are negative with RTY the underperformer, -1.0%
- DXY strengthens pre-Powell to the detriment of peers who reside predominantly negative
- Crude has been tempered ahead of the OPEC+ confab whilst precious metals trade lacklustre
- WHO said COVID infection rates have risen in Europe after six weeks of decline
- Looking ahead, highlights include US IJC, Challenger Layoffs & Factory...
04 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets declined across the board as the region followed suit from the losses on Wall St
- US tech stocks underperformed and sentiment was pressured by a resumption of rising yields
- The DXY held on to most of yesterday's gains around 91.00, EUR/USD oscillated around 1.2150, GBP/USD remains sub-1.40
- Fed's Evans said he does not expect the FOMC will need to change the duration of bond purchases and views the current increase in...
03 Mar 2021, 11:55 by Newsquawk Desk
- European equity indices & US futures are firmer with RTY the outperformer, +1.2% & DAX cash printed record highs
- DXY is choppy with peers mixed at present and USD/JPY nearing 107.00 while GBP is erring higher pre-budget (12:30GMT/07:30EST)
- ECB sources state no need for drastic action to curb advances in yields, supressing core debt/elevating yields while UST yields bear-steepen
- Crude has been bolstered by OPEC+ sources around no...
03 Mar 2021, 06:54 by Newsquawk Desk
- An improved mood was observed in Asia as equity markets shrugged off the weak handover from Wall Street
- Major US indices declined as tech lagged again with regulatory concerns also adding to the selling pressure
- Chinese Caixin Services PMI printed its lowest reading since April last year
- In FX, the DXY languished below 91.00, EUR/USD plateaued below 1.21 and GBP sits on a 1.39 handle ahead of the budget
- OPEC+ is...
02 Mar 2021, 11:56 by Newsquawk Desk
- European equity indices stabilise but US futures are softer with RTY the underperformer, -0.9%
- The DXY has seen upside to the modest detriment of major peers, though off highs/lows respectively, while yields continue to consolidate
- EZ CPI was as expected whilst Germany will reportedly extend its lockdown to March 29th
- Crude remains underpinned ahead of OPEC+ but has drifted off lows while precious metals are somewhat...
02 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets whipsawed as risk momentum gradually waned despite the region initially taking impetus from the rally on Wall St
- All major US indices notched substantial gains with the S&P 500 posting its best performance in almost nine months
- The US will examine how the Treasury, Commerce Department and USTR can work together to deter currency intervention for trade advantages
- In FX markets, the DXY extended on gains above 91.00,...
01 Mar 2021, 11:52 by Newsquawk Desk
- European equity indices and US futures are firmer on the session with RTY the outperformer, +2.0%
- DXY has seen upside & hovers around the 91.00 handle, with lower-yield peers underperforming while US 10yr yields stabilise
- Johnson & Johnson's COVID-19 single-dose vaccine has received approval from US authorities
- Chinese Official Manufacturing PMI and Caixin Manufacturing PMI missed expectations but remained in expansion...