28 Feb 2020, 11:54 by RANsquawk Desk
- Mass sell-off continues, with all bourses firmly in negative territory and the DJIA future breaching the 25k mark
- Spot gold has failed to benefit from the continued sell-off, while JPY has been the clear beneficiary of haven flows
- WHO Spokesman says the coronavirus outbreak is 'getting bigger' the scenario of it reaching multiple, 'if not all countries' is something that we have warned about for a while
- Saudi Arabia is reportedly seeking a cut of 1mln BPD, according to sources cited by the FT, Saudi...
28 Feb 2020, 06:55 by RANsquawk Desk
- Asian stocks traded lower across the board following the bloodbath on Wall Street; Nikkei 225 and Hang Seng fell deeper into correction territory
- South Korea reported 256 more cases of new coronavirus thus far, with the total topping 2000; New Zealand, Lithuania, Nigeria and Belarus also reported their first cases
- Saudi Arabia is reportedly seeking an output cut of 1mln BPD, according to sources, deeper than the 600k BPD proposed by the...
27 Feb 2020, 11:54 by RANsquawk Desk
- Sentiment remains affixed to the coronavirus, with European bourses down and US equity futures currently posting losses of 1%
- South Korea reported over 500 more cases of new coronavirus thus far, taking the total to 1766; with increases in multiple countries
- Italian coronavirus cases may be inflated due to testing errors, WHO Official; did coincide with a mild uptick in sentiment
- Microsoft have cut their Q3 personal computing guidance and supply chain normalisation due to the coronavirus
27 Feb 2020, 06:55 by RANsquawk Desk
- Asian equity markets traded mostly lower following a mixed Wall Street handover, US equity and DAX futures trade with heavy losses heading into the European open
- US President Trump said we are ready to adapt and do whatever to tackle the virus outbreak, VP Pence was put in charge of the virus task force
- First US coronavirus case of unknown origin confirmed in North California; CDC said it could be the first instance of “community spread”
- Microsoft (MSFT) became the latest company to cut guidance due...
26 Feb 2020, 11:47 by RANsquawk Desk
- European bourses are negative at present, but well-off session lows which saw Dax March’20 future drop 400 points at worst
- WTI and Brent tested USD 49/bbl and USD 54/bbl on the EU morning sell-off; though selling has stabilised somewhat ahead of the US’ entrance
- First coronavirus related deaths have been reported in France, as well as the first cases in Poland, Greece and Brazil
- EU's Chief Trade Negotiator Hogan said he hopes to broker with the US a "mini-deal" before US increases tariffs on the...
26 Feb 2020, 06:55 by RANsquawk Desk
- Asian equities traded mostly lower after another bleak session on Wall Street, ASX 200 lagged and Mainland China outperformed
- South Korea reported 169 more cases of new coronavirus thus far; total number of cases topped 1000
- Source reports noted of some discussions in the White House about whether to declare a national emergency; San Francisco Mayor has declared a state of emergency
- Hong Kong government unveiled measures worth HKD 120bln in...
25 Feb 2020, 12:03 by RANsquawk Desk
- Sentiment remains subdued after a brief reprieve was insufficient to flip the narrative away from risk-off
- South Korea total cases now at 977 and a 10th coronavirus-related death reported; cases in Italy have increased as well as cases now being reported in Spain
- WHO spokesman says they do not have plans for a 'big announcement', many countries have pandemic plans ready and some may act depending on their situation
- US Trump Administration is sending Congress a budget request for USD 2.5bln to tackle...
25 Feb 2020, 06:55 by RANsquawk Desk
- Asian stocks traded mixed following a detrimental session on Wall Street; KOSPI outperformed, Nikkei 225 fell 4.5% on its return from its extended weekend
- South Korea reported 60 more cases of new coronavirus thus far, total at 893 and death toll at 9; the country is to draft supplementary budget as soon as possible
- US Trump Administration is sending Congress a budget request for USD 2.5bln to tackle the virus outbreak, House Speaker Pelosi deemed it inadequate
- FX markets were quiet with DXY softer,...
24 Feb 2020, 11:53 by RANsquawk Desk
- Mass FTQ as the coronavirus spreads substantially into Italy, South Korea and Iran
- Italy reported that the total number of cases rose to 152, with a fifth confirmed death
- South Korea reported over 200 new case which brings the current total to 833, with seven deaths also confirmed as of February 23
- China has postponed its parliamentary annual meeting, according to CCTV
- European bourses, and US futures are firmly into negative territory with Italian assets amongst those worst hit
24 Feb 2020, 06:55 by RANsquawk Desk
- Major Asian indices traded lower across the board amid cases spikes outside China; KOSPI lagged, Shenzhen outperformed; Japan was closed – US equity, DAX and Eurostoxx 50 futures opened with steep losses
- In FX, DXY traded on either side of 99.500, Antipodeans were pressured, EUR was weighed on, KRW saw further weakness
- WTI and Brent futures posted losses of over 2.5% each, spot gold eclipsed 1680/oz at the open vs. Friday’s sub-1650/oz...
21 Feb 2020, 11:57 by RANsquawk Desk
- Sentiment remains subdued after yesterday’s sell-off; USD softens as GBP and JPY strengthen
- China's Politburo says the turning point of the virus outbreak in China has not arrived yet, State Media
- South Korea has reported 48 more cases of novel coronavirus, total rises to 204, according to Yonhap
- Libyan Commander Haftar has told Russian press he is ready for a Libyan ceasefire if some conditions are met
- Saudi Air Defence has intercepted and destroyed several ballistic missiles fired at the...
21 Feb 2020, 06:55 by RANsquawk Desk
- Asian equities traded with downside bias after a weak handover from Wall Street, Hang Seng and KOSPI lagged
- China reported an additional 889 (Prev. 394) coronavirus cases and 118 (Prev. 114) additional deaths as of February 20
- South Korea’s virus case count rose to 156; two evacuees from the Diamond Princess cruise have tested positive for coronavirus since landing
- Chinese Commerce Ministry is speeding up the study of new measures to provide further support for companies
- In FX, DXY was flat,...
20 Feb 2020, 11:55 by RANsquawk Desk
- USD remains king as 100 comes into focus for the DXY as it outperforms G10 peers, particularly JPY/AUD/NZD
- European bourses have traded largely directionless for the session, as focus remains on geopolitics/virus headline risk
- Concerns mount over the spread of coronavirus outside of China, namely Japan and South Korea
- Chinese PBoC LPR Rate 1yr 4.05% vs Exp. 4.05% (Prev. 4.15%); 5yr 4.75% (Prev. 4.80%)
- Turkey and Russia are in talks regarding joint patrols around Idlib, Syria
19 Feb 2020, 11:57 by RANsquawk Desk
- European bourses are modestly firmer, with gains roughly in-line with their APAC peers
- Turkish President Erdogan says he is presenting his final warning to the Syrian government regarding Idlib and says that a military operation is a "matter of time”
- GBP was briefly bolstered on strong UK CPI, with the DXY modestly firmer overall largely on a soft JPY
- Boeing are to inspect undelivered 737 Max craft for foreign objects after debris found in undelivered craft
- Looking ahead, highlights include...
19 Feb 2020, 06:55 by RANsquawk Desk
- China’s Mainland reported total cases 74185 vs. Prev. 72436, total deaths 2004 vs. Prev. 1789
- Asian equities traded with cautious gains; Nikkei 225 outperformed, Mainland China was supported by stimulus hopes
- In FX, DXY remained near recent highs, USD/JPY reclaimed 110.00, EUR and GBP traded sideways
- Yuan saw weakness as PBoC set USD/CNY mid-point above 7.000, the weakest fix since Dec 25th, 2019
- Libya’s government...
18 Feb 2020, 12:00 by RANsquawk Desk
- European bourses are softer this morning in-line with the knock to risk-tone post AAPL revenue warning
- Apple (AAPL) issued a revenue warning in which it does not expect to meet revenue guidance for the March quarter citing the coronavirus outbreak
- China's President Xi says that China is still able to meet the 2020 economic targets, in-spite of the impact of the coronavirus
- EZ Finance Minister, including German Finance Minister Scholz, have adopted a recommendation for a fiscal boost in the event of...
18 Feb 2020, 06:54 by RANsquawk Desk
- China reported an additional 1868 coronavirus cases and 98 additional deaths, 1701 patients were discharged
- Apple (AAPL) issued a profit warning and does not expect to meet revenue guidance for Q1 amid the coronavirus outbreak
- RBA Minutes largely echoed the statement but also highlighted that Coronavirus is a “material” risk to the Chinese economy and hence Australia
- Asian equities traded lower across the board whilst US equity futures gapped lower at the open
- In FX, DXY and JPY remained...
17 Feb 2020, 06:55 by RANsquawk Desk
- APAC stocks traded mixed: China was buoyed by the PBoC, Nikkei 225 lagged on dismal domestic GDP
- Total Mainland coronavirus cases are now at 70548 and death toll at 1770, whilst 1425 were discharged from hospital on Sunday
- China cuts its 1yr MLF by 10bps to 3.15%, 1ppts below the 1yr LPR which is to be announced on Thursday
- The Trump Administration said it would increase tariffs on EU aircrafts to 15% from 10% beginning March...
14 Feb 2020, 11:42 by RANsquawk Desk
- European bourses are little changed in largely directionless trade
- Crude futures are bolstered somewhat heading into a long US weekend
- G10 FX complex is flat, with the DXY little changed as a result
- EZ GDP printed as expected after flat QQ German numbers, while EZ employment surprised to the upside
- Looking ahead, highlights include US Import & Export Prices, Retail Sales, Industrial Production and Manufacturing Output, Business Inventories, University of Michigan Sentiment (Prelim),...
14 Feb 2020, 06:54 by RANsquawk Desk
- Asian equity markets were mostly higher following the near recovery seen on Wall St
- China's Hubei province reported 4823 new coronavirus cases and 116 additional deaths as of February 13th
- China is reportedly considering postponing its annual parliamentary meeting (scheduled for March 5th)
- US filed a superseding indictment on Huawei which includes a new racketeering conspiracy count and accused the company of trade theft
- NY Fed Cut O/N Repo Operations limit to USD 100bln (prev. 120bln); cuts...
13 Feb 2020, 11:39 by RANsquawk Desk
- China's Hubei province reported 14840 new coronavirus cases under revised standards – the methodology has not changed outside Hubei
- European stocks trade with losses across the board [Eurostoxx 50 -1.4%], FTSE 100 underperforms
- Risk aversion sees safe-haven FX bid, DXY is softer below 99.000 and energy futures decline
- Looking ahead, highlights include US CPI & Initial Jobless Claims, Banxico Rate Decision, Fed’s Williams, ECB’s Lane...
13 Feb 2020, 06:54 by RANsquawk Desk
- China's Hubei province reported 14840 new coronavirus cases under revised standards and 242 additional deaths as of February 12th
- Asian equity markets traded cautiously as the euphoria from the record highs on Wall St were soured by the latest updates from Hubei
- DXY stalled after printing fresh 3-month highs above the 99.00 level where it met resistance to provide some much-needed reprieve for EUR/USD
- US Treasury Secretary Mnuchin stated that the implementation of the mini-trade deal with China has...
12 Feb 2020, 12:03 by RANsquawk Desk
- European bourses are firmer on little direction-changing newsflow for risk sentiment thus far
- New Hampshire Democratic Primary results projected Bernie Sanders to win as expected with 26.0%, Buttigieg 24.4%, Klobuchar 19.8%, Warren 9.3% and Biden 8.4%
- RBNZ left rates unchanged at 1.0% and lifted their rate path, as such the NZD significantly outperforms
- Riksbank left rates unchanged at 0.0% and cut 2020 CPIF projections; albeit, Governor...
12 Feb 2020, 06:54 by RANsquawk Desk
- Asian equity markets were mostly higher but with gains limited as coronavirus fears lingered
- China reported an additional 2015 coronavirus cases and 97 deaths as of February 11th to bring total confirmed cases to 44653 and death toll at 1113
- RBNZ stood pat on rates as expected, whilst adopting an overall neutral tone
- EIA lowered its forecast for world oil demand growth for this year but increased its estimate for 2021 and reduced its forecast for US crude output growth
- Looking ahead,...
11 Feb 2020, 11:55 by RANsquawk Desk
- European bourses are firmer as sentiment remains risk-on following the APAC handover
- Coronavirus outbreak may peak later this month and then plateau, China Advisor Nanshan
- Russian Energy Minister Novak says they will hold a meeting tomorrow with domestic oil producers to discuss the OPEC+ deal
- The ECB could make a decision on whether to change its inflation goal by the Summer, in what is being described as a “rushed agenda”
- In FX, the DXY is softer this morning weighed on by activity...