17 Apr 2020, 06:54 by Newsquawk Desk
- Sentiment was supported overnight following the announcement of reopening guidelines in the US and hopes of a vaccine breakthrough
- In FX markets, the DXY softened overnight and pulled back below the 100.00 level amid the heightened risk appetite
- US President Trump noted that experts say the curve has flattened and we have passed the peak of new cases
- President Trump unveiled a 3-phase approach to re-opening the economy, while he noted that some states can reopen sooner than others
- There were...
16 Apr 2020, 11:58 by Newsquawk Desk
- Sentiment recovered from APAC lulls prior to European open; currently, remain modestly firmer ahead of US data deluge
- President Trump added administration will be announcing new guidelines on reopening the economy on Thursday
- ECB President Lagarde is fully prepared to increase the size of asset purchase programmes and adjust their composition, by as much as necessary and for as long as needed
- DXY is firmer once again, but yet to breach the 100.00 mark to the upside with major peers subdued as...
16 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets remained subdued amid the headwinds from Wall St which saw the S&P 500 close lower by 2.2%
- DXY remains firmer in the FX space as the index sits just below the 100.00 threshold, weighing on major counterparts
- President Trump said the administration will be announcing new guidelines on reopening the economy on Thursday
- WTI crude futures fluctuated around the USD 20/bbl level as prices remained subdued by the ongoing demand concerns
- Looking ahead, highlights include...
15 Apr 2020, 12:03 by Newsquawk Desk
- Sentiment is negative this morning following the downbeat APAC lead as Wall St. optimism dissipated
- US President Trump said plans to reopen the country are nearing completion and he will speak to all Governors shortly; additionally, he instructed administration to halt funding to the WHO as a review is conducted
- IEA Monthly Oil Market Report: Global oil demand is set to fall by a record 9.3mln BPD in 2020, SPR purchases can reach 200mln BPD in the next three months
- DXY is firmer thus far to the...
15 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded cautiously as the region failed to follow through on the optimism seen on Wall St
- DXY remained lacklustre after having recently slipped below the 99.00 level amid easing funding pressures and declining yields
- Brexit negotiators are to conduct a video call today to finalize next week's large-scale trade negotiations
- US President Trump stated that he instructed the administration to halt funding to the WHO as a review is conducted
- US President Trump said plans to...
14 Apr 2020, 11:58 by Newsquawk Desk
- European bourses are firmer this morning with US futures stronger in excess of 1% at present; note, Eurex has been experiencing operational difficulties
- US President Trump said we're very close to completing a plan to re-open the country and hopefully ahead of schedule
- US NIH's Fauci said even though we had a bad week last week, we are starting to see flattening including in hot spots such as New York
- FX sees the DXY modestly softer this morning, while the ZAR underperforms after SARB cut rates to...
14 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets were positive across the board as sentiment picked up from the holiday lull and as the region digested mostly better than expected Chinese trade data
- Chinese trade figures showed a much narrower than expected contraction in exports and a surprise expansion to CNY-denominated imports
- DXY was softer overnight as the constructive risk appetite sapped demand for the greenback
- US President Trump says the administration is very close to completing a plan to re-open the country and is...
09 Apr 2020, 11:50 by Newsquawk Desk
- Sentiment started strong but has waned on the approach to today’s plethora of risk events
- Kuwait Oil Minister says intention is moving towards reaching an agreement to lower output by a large amount between 10mln-15mln bpd.
- Kremlin declined to comment on reports their maximum cut would be 2mln BPD
- Russia and Saudi Arabia still need to settle differences regarding plans for a global oil production cut according to sources, regarding baseline and quantity
- President Trump suggested the...
09 Apr 2020, 06:43 by Newsquawk Desk
- Asian equity markets were mostly higher as the region marginally benefitted from the tailwinds from Wall St
- The DXY was steady above the 100.00 level with price action rangebound following an uneventful FOMC Minutes release
- The Kuwait Oil Minister has touted the possibility of a 10-15mln bpd output reduction at today’s OPEC+ meeting
- Russia is reportedly ready to cut production by 1.6mln BPD, according to Tass citing comments from Russian Energy Minister Novak
- President Trump suggested the...
08 Apr 2020, 11:52 by Newsquawk Desk
- Sentiment was hit early doors on the Eurogroup being postponed, US futures currently little changed
- Eurogroup President Centeno confirmed talks will resume tomorrow with no deal reached yet and cancelled today’s press-conference
- Core debt futures flew on Centeno’s remarks as peripheries sunk along with EUR/USD; albeit, the latter has fought back
- US President Trump said he will ask Congress for an additional USD 250bln in small businesses relief
- Iran Oil Minister Zanganeh stated in a letter...
08 Apr 2020, 06:54 by Newsquawk Desk
- A tentative tone was observed in Asia-Pac bourses following the lacklustre performance stateside
- DXY was relatively steady although managed to recoup some of the recent losses to reclaim the 100.00 level
- US President Trump said the US is looking at reopening the economy very thoroughly which will be open again much sooner rather than later
- Work towards an ambitious EU economic policy response to COVID-19 is “well on track but not there yet”, according to a spokesman for Eurogroup President...
07 Apr 2020, 11:44 by Newsquawk Desk
- Sentiment remains bolstered from the APAC lead, as US equity futures extend on gains
- Delegate reports intimate that Saudi and Russia are coming closer to an output deal; however, Russian press reports have subsequently pushed back on this
- Japanese PM Abe declares a State of Emergency in 7 prefectures as expected; Gov’t has approved JPY 108.2trl in stimulus
- RBA kept rates on hold at 0.25% as expected and the board reaffirmed the 3yr yield target at 0.25%
- FX sees the DXY softer, to the benefit...
07 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly higher as the region took impetus from the strong finish on Wall St where all major indices finished higher by at least 7%
- A subdued greenback provided some respite for its major counterparts including EUR/USD which reclaimed the 1.0800 handle
- OPEC+ is likely to agree to oil production cuts on Thursday, subject to US involvement, according to sources
- UK PM Johnson was taken to intensive care after his condition was said to have worsened
- US President Trump...
06 Apr 2020, 11:51 by Newsquawk Desk
- Sentiment is bolstered on a slowing of coronavirus cases over the weekend in some areas
- OPEC+ meeting was delayed a few days and will now be conducted on Thursday instead of the initially planned Monday
- Kremlin states this is for technical reasons, are ready to co-operate to ensure market stability
- Japanese PM Abe plans to announce a JPY 108tln stimulus package; wants to declare a state of emergency as soon as tomorrow
- UK PM Johnson was taken to hospital for tests due to the coronavirus...
06 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly positive and US equity futures also began the week on the front-foot amid a slowdown in COVID-19-related deaths in some areas
- Italy showed its smallest daily increase in deaths since March 19th and slowest pace of increase in cases in 5 days
- UK PM Johnson was taken to hospital for tests due to the coronavirus which Downing Street stated was a precautionary step
- In FX markets, the DXY was relatively stable north of the 100.50 level after last week’s momentum...
03 Apr 2020, 11:54 by Newsquawk Desk
- US futures are lower this morning, but have remained relatively steady at such levels; while focus remains on the improving prospects for crude
- OPEC+ are reportedly preparing for a Monday meeting; cuts in the range of 6-15mln BPD have been touted
- Reports note that Russia’s involvement in this is contingent on US cutting production; which Trump has previously stated has not been agreed to
- PBoC lowers the RRR for some banks by 1ppt; could release around CNY 400bln in funds and will be implemented in...
03 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mostly lower as the region failed to sustain the energy-led euphoria from Wall St
- In FX markets, price action was uneventful ahead of the key US jobs data with the DXY plateauing above the 100.00 level
- Oil prices continued to pullback after several reports pushed back on an imminent deal between global oil producers
- Saudi Arabia reportedly wants other producers such as the US, Canada, Mexico and others in G20 to take part in any cuts
- Looking ahead, highlights...
02 Apr 2020, 11:54 by Newsquawk Desk
- European bourses are currently printing modest gains but US futures are notably firmer than their EU counterpart
- Crude is bolstered after constructive remarks from Trump and reports that China are to begin purchasing oil for state reserves after the recent price crash
- Fed exempted US Treasury debt and Federal Reserve deposits from supplementary leverage ratio for one year as it seeks to ease strains in Treasury market
- EU Commission proposes borrowing EUR 100bln against EU government guarantees to...
02 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed after a weak handover from Wall St where stocks finished the day with losses of more than 4%
- DXY relatively steady overnight with the greenback’s major counterparts contained ahead of weekly jobs figures from the US
- US President Trump is to meet with the CEOs of US oil companies on Friday to talk about helping the industry
- Fed exempted US Treasury debt and Federal Reserve deposits from supplementary leverage ratio for one year as it seeks to ease strains in Treasury...
01 Apr 2020, 11:45 by Newsquawk Desk
- Sentiment is subdued this morning as the absence of month-end factors has seen focus return to the virus
- White House issued 30-day social distancing guidelines and President Trump commented that following social distancing guidelines for the next 30 days is a matter of life and death
- Spanish coronavirus cases stand at 102,135 (Prev. 94,417); deaths increase by 864 to 9053 (Prev. 8189)
- Russia is not planning to boost oil output amid oversupply, sources state, Russia is not holding talks with Saudi;...
01 Apr 2020, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed with sentiment cautious after Wall St wrapped up the worst quarterly performance in the S&P 500 since 2008
- In FX markets, the prior day’s retreat in the DXY was stemmed after finding support around the 99.00 level
- OPEC members failed to unanimously agree on an emergency meeting of its economic commission board according to source reports
- US President Trump is to suspend certain tariffs payments for 90-days on imports such as apparel and light...
31 Mar 2020, 11:45 by Newsquawk Desk
- Sentiment has generally been upbeat, but US futures are deteriorating as US players enter the market
- Chinese Manufacturing and Non-Manufacturing PMI topped estimates and the Composite PMI also printed in expansion territory
- Some downplayed the data given that it was a recovery from the prior month’s record low base and with China’s stats bureau warning the rebound does not mean the economy has returned to normal
- WHO official said coronavirus epidemic is far from over in Asia and the focus of the...
31 Mar 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mostly higher (before trimming some gains) as the region took its cue from the gains on Wall St and Chinese PMI figures
- Chinese Manufacturing and Non-Manufacturing PMI topped estimates and the Composite PMI also printed in expansion territory
- Some downplayed the data given that it was a recovery from the prior month’s record low base and with China’s stats bureau warning the rebound does not mean the economy has returned to normal
- DXY remained firmer after having reclaimed...
30 Mar 2020, 11:41 by Newsquawk Desk
- European bourses have been choppy for much of the session, with similar performance seen in US futures; currently relatively unchaged on the day
- US President Trump announced that he is to extend federal guidelines on coronavirus to April 30th and that he sees deaths peaking in 2 weeks
- NIH’s Fauci projected the possibility of millions of coronavirus cases in the US and 100k-200k deaths
- Japan's ruling party has reportedly proposed a JPY 60tln stimulus package, which would include direct government...
30 Mar 2020, 06:55 by Newsquawk Desk
- US House passed USD 2.2trln COVID-19 economic aid bill which President Trump signed on Friday
- US President Trump announced that he is to extend federal guidelines on coronavirus to April 30th and that he sees deaths peaking in 2 weeks
- NIH’s Fauci projected the possibility of millions of coronavirus cases in the US and 100k-200k deaths
- Asian equity markets resumed their selling, and US equity futures also began the week on the backfoot (before gradually recouping losses)
- In FX, the DXY was...