19 Jun 2020, 12:01 by Newsquawk Desk
- European bourses and US futures have been choppy with spurs of volatility on quad witching but retain an underlying bid
- Texas coronavirus cases rose by 3516 to a total of nearly 100,000 which was the largest daily increase on record for the state
- China is reportedly planning to step up purchases of US farm goods following on from discussions.
- Fox News poll showed former VP Biden leading US President Trump by 50% vs. 38% (Prev. 48% vs. 40%), with the survey conducted June 13th-16th
- FX sees...
19 Jun 2020, 06:54 by Newsquawk Desk
- Asian equity markets attempted to shrug-off Wall Street’s pre-quadruple witching indecision with a slightly upbeat tone seen in the region
- US Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs Stilwell said China’s attitude in Hawaii talks cannot be described as forthcoming
- FX markets were relatively contained overnight with the DXY consolidating just below weekly highs around 97.50
- Energy Intel tweeted the mood at the JMMC wasn’t very positive according to delegates;...
18 Jun 2020, 11:51 by Newsquawk Desk
- US futures are mixed/flat in a choppy session for sentiment thus far which has been dictated by a downbeat APAC handover and further COVID-19 updates
- The COVID-19 outbreak in Beijing is now under control, according to a Chinese CDC expert – subsequently, caveated that more cases will emerge in the coming days
- China said the two sides articulated their positions in the meeting between top diplomat Yang and US Secretary of State Pompeo in Hawaii and agreed this was constructive dialogue
- SNB left rates...
18 Jun 2020, 06:54 by Newsquawk Desk
- Asian stocks traded mostly negative following a predominantly softer handover from Wall St. where focus remains on the COVID-19 case count
- US-China tensions also remained in focus as China responded to President Trump’s recent signing of the Uighur human rights legislation
- The DXY was relatively flat around the 97.00 level, EUR/USD and GBP/USD were uneventful overnight around 1.1250 and 1.2550 respectively
- Former US National Security Adviser Bolton’s book claims US President Trump asked Chinese...
17 Jun 2020, 11:54 by Newsquawk Desk
- European bourses have been choppy and are currently modestly firmer with US future posting similar performance at present
- Crude downside seemingly led the deterioration in general risk sentiment with WTI & Brent still negative on the day; separately, DXY remains towards top-end of the day’s range
- Group of prominent republican operatives that includes former officials from the Trump and George W. Bush administrations are launching a super PAC to turn out GOP voters for Joe Biden in November,...
17 Jun 2020, 06:54 by Newsquawk Desk
- Asian equity markets failed to fully sustain the positive handover from Wall St with regional bourses indecisive amid geopolitical tensions and COVID-19 fears
- Japanese trade data showed a larger than expected slump in Exports Y/Y, with Japan’s US-bound exports at the fastest pace of decline since March 2009
- The DXY held on to the prior day’s gains around the 97.00 level with EUR/USD below 1.1300 and GBP/USD briefly below 1.2550
- White House is in deep discussions on new stimulus worth at least USD...
16 Jun 2020, 11:49 by Newsquawk Desk
- Sentiment is firmer this morning following the positive APAC lead which was bolstered by a draft US infrastructure plan; US futures are off highs, but are still over 1% firmer on the session
- US President Trump administration is working on a draft plan for USD 1tln infrastructure proposal to stimulate the economy
- North Korea demolished the inter-Korean joint liaison office & separately, Indian soldiers have reportedly been killed after a clash with Chinese soldiers
- BoJ kept policy settings...
16 Jun 2020, 06:55 by Newsquawk Desk
- Asia-Pac bourses notched considerable gains as the region took impetus from Wall Street's recovery
- Optimism in the US was spurred by the pace of infections slowing in key US states and the Fed’s decision to directly purchase corporate bonds
- WHO said more than 100 cases have now been confirmed in Beijing and China warned there is a very high risk of the new Beijing coronavirus cluster spreading
- The BoJ kept policy settings unchanged but noted the size of market operations and lending facilities to...
15 Jun 2020, 11:51 by Newsquawk Desk
- European equities opened with substantial losses but have since recuperated much of the downside
- Beijing reported 36 new local cases on Monday bringing the total confirmed cases to 79 – with eight out of 16 districts in Beijing reporting cases on Monday according to Global Times
- Beijing shut a fruit and vegetable market and imposed lockdown restrictions on residential areas nearby
- UK PM Johnson is to tell EU leaders today that Brexit talks must be concluded by autumn at the latest
- In FX, DXY...
15 Jun 2020, 06:55 by Newsquawk Desk
- Asian equity markets traded negative and US equity futures also began the week on the backfoot in which the E-Mini S&P gapped below 3000
- Beijing reported 36 new local cases on Monday bringing the total confirmed cases to 79 – with eight out of 16 districts in Beijing reporting cases on Monday according to Global Times
- Beijing shut a fruit and vegetable market and imposed lockdown restrictions on residential areas nearby
- Several US States...
12 Jun 2020, 11:45 by Newsquawk Desk
- Sentiment has recovered in quiet newsflow after yesterday’s pronounced sell-off
- Chinese PLA officer was reportedly arrested and charged with visa fraud as he tried to leave the US
- UK government reportedly will formally rule out a Brexit deadline extension today and plans temporary light-touch customs checks with EU from next year, according to sources
- Two new COVID-19 cases confirmed in Beijing as they close part of their key meat market
- DXY is downbeat and towards lower-end of day’s range...
12 Jun 2020, 07:04 by Newsquawk Desk
- Asian equity markets suffered losses following a steep sell-off on Wall Street amid fears of a second wave
- US CDC reported that COVID-19 cases rose by 20,486 vs. Prev. 17,376; NYC positive test rate 1.7% vs. Prev. 1.5%; California case rate +2.3% vs. 7-day average +2.1%
- Chinese PLA officer was reportedly arrested and charged with visa fraud as he tried to leave the US
- UK government reportedly will formally rule out a Brexit deadline...
11 Jun 2020, 11:45 by Newsquawk Desk
- Sentiment remains downbeat in a quiet session thus far after a negative APAC handover
- DXY is subdued around the 96.00 mark weighed on by safe-havens while UST yields continue to bull-flatten
- China reportedly continues to purchase US soybeans despite toughening rhetoric, least 10 cargoes purchased by state-run & private buyers in June
- SCMP article suggested that nuclear arms control could be the next battleground in US-China rivalry after...
11 Jun 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mostly lower as the region took its cue from the underwhelming performance on Wall St where focus was on the FOMC
- Most major US indices finished negative with energy and financials resuming their underperformance, although tech continued to buck the trend
- The Fed stood pat on rates as expected, set monthly UST purchases at USD 80bln and MBS at USD 40bln respectively, did not introduce YCC or forward guidance
- The USD saw a choppy reaction to the FOMC with the initial move in...
10 Jun 2020, 11:44 by Newsquawk Desk
- Sentiment has slipped in a relatively quiet session as focus turns to today’s FOMC
- DXY is softer but off lows while fixed has maintained a grinding bid; UST yield curve bull-flattening as such
- China's Global Times tweeted that China may restrict use of Qualcomm (QCOM) chips in government bodies and key sectors related to national security
- ECB is said to be drawing up a "bad bank" scheme to warehouse unpaid EUR debt from the pandemic, sources
- Dutch Foreign Minister, regarding the EU Recovery...
10 Jun 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded somewhat indecisively after the mostly negative lead from global peers amid cautiousness heading into the FOMC
- China's Global Times tweeted that China may restrict use of Qualcomm (QCOM) chips in government bodies and key sectors related to national security
- The DXY was rangebound after another failed effort yesterday to snap its recent downtrend. FX markets were largely uneventful overnight
- WTI crude futures...
09 Jun 2020, 11:56 by Newsquawk Desk
- Sentiment is subdued as yesterday’s rally failed to continue into EU hours, with downside exacerbated after the cash open – e-mini S&P around 1% lower
- US yields are bull-flattening with European yields seeing similar downside, to the detriment of banking names in Europe
- JPY is the morning’s outperformer with the DXY still stronger nonetheless and in proximity to the 97.00 mark; antipodeans lag on China developments
- North Korea will cut off communication lines with South Korea completely from...
09 Jun 2020, 06:54 by Newsquawk Desk
- The risk tone across the Asia-Pac region was mostly positive with the regional bourses spurred by the firm handover from Wall St
- The DJIA led gains, the S&P 500 turned positive YTD and the Nasdaq printed a fresh record high
- The DXY attempted to nurse some of the recent weakness although remained firmly below the 97.00 level
- The Fed eased terms of its main street lending facility to encourage more businesses to participate
- WTI crude futures consolidated after the prior day’s losses in...
08 Jun 2020, 11:48 by Newsquawk Desk
- European bourses are subdued as newsflow slows, while US futures remain firmer with a quiet stateside schedule ahead
- OPEC+ unanimously agreed to extend current cuts for one month through July and will review if a longer extension is needed this month
- Saudi raised selling prices to Asia by between USD 5.60-7.30, while Storm Cristobal also prompted the evacuation of platforms and rigs in the Gulf of Mexico
- Trade figures from China mostly topped estimates with a record trade surplus in USD terms and a...
05 Jun 2020, 11:53 by Newsquawk Desk
- Sentiment remains strong after a choppy APAC handover; albeit, US futures have been drifting lower following remarks from China
- China has vowed to take countermeasures against the US move to sanction 33 Chinese firms and institutions
- OPEC+ ministerial meeting is now planned for June 6th after Iraq, and other non-complying countries pledge better commitment to the oil cuts
- UK and EU officials are reportedly set to end Brexit talks this week without coming to an agreement on the terms of their future...
05 Jun 2020, 06:54 by Newsquawk Desk
- Asian equity markets were choppy with the region cautious following a mostly negative handover from Wall St. and as participants await the looming NFP report
- USTR Lighthizer said he feels very good about the Phase 1 US-China trade deal and that the report that China was not honouring the soybean purchases was false
- UK and EU officials are reportedly set to end Brexit talks this week without coming to an agreement on the terms of their future relationship
- In FX, DXY enters the EU session softer with...
04 Jun 2020, 11:45 by Newsquawk Desk
- Sentiment has slipped in a quiet session after a positive APAC handover as the OPEC meeting is seemingly delayed and with risk events looming
- Energy Journalist Reza Zandi says the OPEC+ meeting is unlikely to be held today amid complicated negotiations for compliance
- President Trump stated that he does not think they will need to send the military in response to protests
- China's Agricultural Ministry confirms they are continuing to purchase US soybeans
- Looking ahead, highlights include ECB...
04 Jun 2020, 06:54 by Newsquawk Desk
- Asian stocks were mostly higher as the region partially upheld the firm handover from Wall St; S&P 500 +1.36%
- Chinese state-controlled companies reportedly cancelled some shipments from US farm exporters, according to WSJ
- US President Trump's administration selected Moderna (MRNA), AstraZeneca (AZN), Johnson & Johnson (JNJ), Merck (MRK) and Pfizer (PFE) as COVID-19 vaccine candidate finalists
- German Chancellor Merkel's ruling coalition reached a deal on the German stimulus package with an...
03 Jun 2020, 12:12 by Newsquawk Desk
- Sentiment remains strong after a positive APAC handover, US futures firmer but have been drifting
- Saudi Arabia and Russia reportedly agreed on a preliminary 1-month extension on existing OPEC+ oil cuts, according to sources; meeting conditional on countries compensating for compliance ahead
- Crude was firmer in-line with overall sentiment; however, above remarks knocked the benchmarks into negative territory
- US President Trump reportedly appeared to be backing away from invoking the Insurrection Act...
03 Jun 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded higher across the board as the region took impetus from the energy-led gains on Wall St.
- Chinese Caixin Services and Composite PMIs printed their largest expansions in nearly a decade
- DXY continued to weaken and fell below the 97.50 level, EUR/USD breached 1.1200 and GBP/USD briefly took 1.2600 to the upside
- OPEC+ oil cut extension talks are said to be complicated by Saudi and Russia haggling
- US President Trump reportedly appeared to be backing away from invoking...