• Asian equity markets traded indecisive as the euphoria from the US-China trade truce began to wane, Hong Kong played catch-up
  • US Trade Representative Office proposed increased tariffs on EU products due to EU aircraft subsidies, in which it proposed adding more tariffs to USD 4.0bln of EU goods
  • RBA lowered the Cash Rate by 25bps to a record low 1.00% as expected, AUD/USD saw short-lived downside
  • Looking ahead, highlights include German...
  • European Indices [Euro Stoxx 50 +0.9%] as the weekend’s positive US-China updates, among other geopolitical developments, generated risk-on sentiment which rolled over from the Asia-Pac session
  • US and China agreed to a temporary trade truce in which US will not levy new tariffs on China whilst also easing some Huawei restrictions
  • US President Trump met with North Korean Leader Kim in the DMZ and became the first sitting US President to enter North Korean territory
  • Russia & Saudi Arabia have...
  • US and China agreed to a temporary trade truce in which US will not levy new tariffs on China whilst also easing some Huawei restrictions
  • US President Trump had an impromptu meeting with North Korean Leader Kim Jong Un and agreed to resume stalled nuclear talks
  • Russia and Saudi Arabia have agreed to extend the OPEC+ output deal by 6 to 9 months
  • Asian equity markets began H2 with gains across the board as global sentiment was buoyed, gold...
  • European Equities are just into positive territory [Euro Stoxx 50 +0.3%], with the Fed having approved all 18 banks capital plans in their Comprehensive Capital Analysis Review
  • US President Trump says he will be meeting with Chinese President Xi tomorrow and thinks the meeting will be productive at a minimum; it will ultimately work out, though he did not promise a 6-month tariff reprieve
  • FX and Fixed remain tentative and rangebound ahead of the weekend’s G20 and as month/quarter & half year end...
  • Asian equity markets were subdued amid book squaring heading into the end of H1 and ahead of the upcoming Trump-Xi meeting at the G20
  • FX price action was uneventful across the board with the DXY little changed on the session as its major counterparts sat rangebound
  • UK PM candidate Boris Johnson is reportedly preparing an emergency budget for no-deal
  • Fed approved all 18 banks capital plans in its Comprehensive Capital Analysis...
  • China’s President Xi is reportedly to present Trump with  a set of terms required for a resolution to the trade dispute; including the lifting of all punitive tariffs
  • European Indices are softer [Euro Stoxx 50 -0.2%], with sentiment somewhat dented on the ongoing US-China updates
  • In FX, the DXY remains cautious and within a relatively narrow band ahead of the G20 summit while bonds were only marginally afflicted by negative trade rhetoric
  • Looking ahead, highlights include German CPI (Prelim),...
  • Asian equity markets traded higher after the region shrugged off the uninspiring lead from Wall Street ahead of the G20 Summit
  • UK Remain rebels are reportedly planning to mount a new bid next week to block a no-deal Brexit
  • In FX markets, most currencies remained in a holding pattern, although the DXY was slightly firmer overnight
  • Looking ahead, highlights include German CPI (Prelim), EZ Economic Sentiment, US GDP (Final), Initial Jobless Claims, Banxico rate decision, ECB’s Nowotny, supply from...
  • European indices [Euro Stoxx 50 +0.4%] were lifted from mildly negative territory by positive US-China comments
  • US Treasury Secretary Mnuchin said the US-China deal is 90% complete, though there was some suggestion that these comments were delivered in the past tense
  • In FX, the DXY has steadied above 96.0 post-Fed comments while the NZD leads G10 counterparts post-RBNZ
  • Looking ahead highlights include, US Durable Goods, Fed’s Daly. Supply from the...
  • Asian indices are somewhat subdued after Fed speakers tempered the prospect/magnitude of rate cuts
  • US is reportedly considering suspending the next round of tariffs as US-China prepare for trade negotiations to resume
  • RBNZ left rates unchanged but noted downside risks to employment & inflation; adding that a lower rate may be needed over time
  • Looking ahead highlights include, German GfK, US Durable Goods, ECB’s Mersch, BoE’s Carney,...
  • European Indices [Euro Stoxx 50 -0.3%] are somewhat subdued following the lacklusture Asia-Pac handover
  • Iran Foreign Ministry spokesman Mousavi states that the US sanctions mean the permanent closure of the diplomatic channel
  • AbbVie (ABBV) is looking to buy Allergan (AGN) for in excess of USD 60bln in a cash and stock deal
  • Looking ahead, highlights include US Richmond Fed, ECB’s Coeure, Fed’s Williams, Bostic, Powell, Barkin, Bullard, supply from the US, earnings from FedEx and...
  • Asian indices are subdued following on from the US’ imposition of sanctions on Iran
  • DXY continued its recent downtrend and slipped below 96.00, leading USD/JPY beneath 107.00
  • US placed strong sanctions on Iran, including the Supreme Leader; Iran’s Foreign Ministry Spokesman states that the sanctions mean the diplomatic channel is closed forever
  • US Official states that the Trump-Xi meeting is likely the 2nd day of G20, but this is yet to be...
  • A choppy start to a potentially pivotally week for global trade [Euro Stoxx 50 -0.4%], with Trump & Xi due to meet at the G20 summit
  • US President Trump has stated that they will move ahead with additional sanctions on Iran; Iran’s Navy Commander said the downing of a US Spy drone was a ‘firm response’ and can be repeated
  • In FX, the USD remains subdued with Antipodeans leading G10 gains; while the TRY has rebounded post Istanbul election re-run
  • Looking ahead, highlights include NZ Trade, ECB’s...
  • Asian equities began the week somewhat choppy with participants tentative ahead of the Trump-Xi G20 meeting
  • Conservative Party is reportedly making plans that would permit the next PM to hold off from putting their Brexit plans to Parliament until Autumn
  • US President Trump said he has no pre-conditions for talks with Iran. However, the US will be moving ahead with sanctions on the nation
  • Turkish opposition candidate Imamoglu beat former PM...
  • European stocks gave up earlier gains on quadruple witching day, sectors are mostly in the red
  • Dollar trades within a tight range above 95.50, EUR is supported by encouraging EZ PMIs
  • US President Trump reportedly pulled back from launching attacks on Iran hours after approving strikes on a handful of targets
  • Looking ahead, highlights include US PMIs, Canadian retail sales, Baker Hughes, Fed’s Mester, Daly, BoE’s Tenreyro and Carney,...
  • Asian equity markets traded mostly lacklustre as the FOMC-fuelled momentum began to wane in the region despite the strong lead from Wall St
  • Boris Johnson maintained the lead after the 5th round of the Tory leadership ballot with Jeremy Hunt making it to the final two after Michael Gove was eliminated
  • US President Trump reportedly pulled back from launching attacks on Iran hours after approving strikes on a handful of targets
  • Looking ahead,...
  • European equities higher across the board as investors cheer the Fed
  • DXY lower, NOK bolstered by hawkish Norges hike
  • Looking ahead, highlights include BoE rate decision US weekly jobs, Philly Fed, BoE’s Carney



Asian equity markets traded mostly positive as the region digested the dovish FOMC. ASX 200 (+0.6%) was led higher by gold names after the precious metal surged...

  • Asian equity markets rallied across the board as the region followed suit from the heightened global risk appetite
  • Former UK Foreign Minister Boris Johnson remained in the lead after the second round of the Conservative leadership vote
  • DXY was steady and remained near this month’s highs after the recent Draghi-induced selling in EUR/USD
  • US President Trump replied "let's see what he does" when asked whether he wants to demote Fed Chair...
  • ECB President Draghi said additional stimulus will be required if inflation aim is threatened, APP still has considerable headroom
  • Stocks surge as Draghi strikes a dovish tone, albeit Financials underperform amid the prolongation of negative rates
  • EUR slumped to the bottom of the G10 pile amid dovish Draghi comments, DXY is firmer above 97.50
  • Looking ahead, highlights include US Building Permits, Housing Starts, APIs, Tory Leadership Vote,...
  • Asian equity markets mostly saw cautious gains ahead of this week’s key risk events and following the marginal gains in the US
  • Boris Johnson allies reportedly plan to rig the leadership contest by ‘lending’ votes to Jeremy Hunt
  • DXY continued on from the prior day’s swings and slipped back below 97.50 amid tentativeness heading into the key central bank meetings
  • Looking ahead, highlights include German ZEW, EZ CPI, US Building Permits,...
  • MON: US hearing on further China tariffs.
  • TUE: RBA Minutes, German ZEW Sentiment, EZ CPI (Final), US Housing Starts.
  • WED: FOMC Monetary Policy meeting, CBRT Summary of the MPC meeting, BCB Monetary Policy meeting, Japan Trade Balance, UK & Canada CPI.
  • THU: BOE, BOJ, Norges Bank, Bank of Indonesia, UK Retail Sales, US Philly Fed.
  • FRI: EU Summit (EU top jobs decisions to be made), Quadruple Witching, Japanese CPI,...
  • Major European stocks are flat/mixed in a continuation of the cautious tone seen in Asia
  • Most major FX pairs remain rangebound ahead of an action-packed week
  • Looking ahead highlights include, US NY Fed Manufacturing and ECB’s Draghi



Asian equity markets began mixed with the region cautious ahead of the upcoming slate of central bank activity and after last Friday’s losses on Wall St,...

  • Asian equity markets began mixed with the region cautious ahead of the upcoming slate of key risk events
  • Price action in FX was relatively quiet amid a lack of tier 1 data releases, DXY slightly pulled back from Friday’s data-driven gains
  • Former UK Foreign Minister Boris Johnson’s plans to withhold Brexit bill payments could be thwarted by Attorney General Cox’s legal advice
  • Looking ahead, highlights include US NY Fed Manufacturing, ECB’s de...
  • European indices are predominantly lower [Euro Stoxx 50 -0.4%] as the risk-off theme prevails
  • The US have reportedly asked the WTO to pause the investigation into China IP until December, and India are reportedly preparing higher tariffs on 20 US goods
  • Looking ahead highlights include, US Retail Sales, Industrial Production, Business Inventories, University of Michigan Sentiment, BoE’s Carney



Asia equity markets traded mixed as they awaited...

  • Asian indices are mixed, pulled between the positive Wall St. lead and impending Chinese data at 08:00BST
  • US Secretary of State Pompeo formally blamed Iran for the Oman tanker attacks
  • NEC Director Kudlow states that China has broken WTO terms on trade, as such US President Trump is taking action
  • Looking ahead highlights include, Chinese Industrial Output & Retail Sales, EZ CPI (Final), US Retail Sales, Industrial Production, Business...
  • European equities are firmer [Euro Stoxx 50 +0.2%], deviating from their Asia-Pac counterparts
  • WTI & Brent are significantly firmer amidst reports that two oil tankers in the Gulf of Oman have been attacked
  • In FX, the USD remains relatively stead while safe havens are buoyed by ongoing geopolitical tensions
  • Looking ahead highlights include, US Import, Export Prices & Jobless Claims, New Zealand Manufacturing PMI. Supply from the...
Have a great weekend, you beautiful people! Live long and prosper!