Newsquawk

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  • The result of the UK election exit poll overwhelmingly pointed towards a Conservative majority with a total of 368 seats vs. Labour 191 - Conservatives managed to cross the 326-seat threshold just before 0500GMT
  • GBP immediately saw strength following the election exit poll with GBP/USD eclipsing 1.3500 to the upside from mid-1.3100 area
  • China and the US have struck an agreement on some tariff reductions and a delay to the tariffs that were due to come into effect on...
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  • European equities are choppy and ultimately flat ahead of a deluge of risk events
  • US President Trump is likely to meet with top trade advisers on Thursday regarding December 15th tariffs, according to sources
  • Half of the latest UK Election Polls show a maintenance in the Tory/Labour spread and the other half show a slight narrowing
  • SNB left Monetary Policy settings unchanged, whilst CBRT conducted a deeper-than-forecast cut and maintained their stance
  • Looking ahead highlights include, UK...
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  • FOMC left its Fed Fund Target Rate unchanged at 1.50%-1.75% as expected via unanimous decision while it maintained the IOER at 1.55%
  • Fed dropped its language from the statement regarding uncertainties for the outlook remaining
  • Fed Dot Plots show a median view for an unchanged rate throughout 2020 and a single hike in 2021 followed by another in 2022, although some see a 2020 hike as likely to be appropriate
  • Fed Chair Powell also said that a...
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  • European bourses are mixed/flat at present, as newsflow remains light ahead of the impending risk events
  • White House Trade Advisor Navarro said China is trying to shape the narrative on trade talks and he believes the Dec 15th tariffs won’t come into effect
  • YouGov’s MRP model showed Conservatives are on track for a 28-seat majority vs. Prev. forecast of 68-seat majority
  • Looking ahead, highlights include US CPI, DoEs, US FOMC Rate Decision and Press Conference, OPEC Monthly Oil...
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  • A non-committal tone persisted across Asia-Pac equity markets following conflicting US-China trade headlines
  • White House Trade Adviser Navarro said he has no indication the December tariffs won't be put on
  • YouGov MRP model showed Conservatives are on track for a 28-seat majority vs. Prev. forecast of 68-seat majority
  • GBP lagged, USD eked mild gains ahead of the FOMC policy announcement, EUR/USD was contained just shy of 1.1100
  • Looking ahead, highlights include Swedish and US CPI, DoEs, US...
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  • European bourses are significantly subdued, as this morning’s stock sell-off accelerates and spreads across markets
  • GBP outperforms ahead of tonight’s MRP, with the DXY continuing to print fresh session lows
  • A US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expected according to Chinese press reports
  • US House Speaker Pelosi stated that a USMCA trade deal is not agreed to, are close but not yet there
  • Looking ahead, highlights include...
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  • Asian equity markets resumed the cautious global risk tone heading into this week’s plethora of risk events
  • There were unconfirmed reports citing a trade source which noted the December 15th tariffs are going ahead and that China is preparing for them
  • However, Chinese reports suggested a US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expected
  • Looking ahead, highlights include Norges Bank Reginal Network Report, UK GDP, Production Trade,...
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  • European bourses are tentative as newsflow is limited ahead of a key week
  • China’s trade data was weaker than expected, with exports surprisingly contracting though imports did post surprise growth
  • USTR Lighthizer and US Democrats are reportedly nearing a deal for Congress to pass USMCA, although hurdles remain
  • UK Election polls have around an 8-14pp spread in the Conservative-Labour lead, YouGov MRP to be released tomorrow
  • Looking ahead, highlights include US 3yr Supply, RBA’s...
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  • Asian equity markets were mixed as the tailwinds from Friday’s stellar US NFP report were offset by mostly weaker than expected Chinese trade data
  • Hong Kong protesters conducted a large-scale march, with organizers claiming a turnout of 800k, protests were largely peaceful
  • China ordered government offices and public institutions to remove all foreign computer equipment and software in 3 years
  • Heading into election week, polls over the weekend have shown the Conservatives holding onto their lead over...
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  • European equities reside in modestly positive territory, FTSE 100 outperforms on a softer Sterling
  • China is reportedly to implement tariff waivers for some purchases of soybeans and pork from the US but has taken countermeasures against US limit on diplomats, sources state
  • OPEC+ additional 500k BPD output cuts could be split roughly 2/3 for OPEC and 1/3 for Non-OPEC, according to sources
  • In FX, GBP softened on potential...
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  • Asian equity markets were higher as the recent US-China trade optimism reverberated in the region, but with gains capped by uncertainty from OPEC and ahead of key US data
  • US President Trump said something could happen with regards to tariffs on December 15th but we are not discussing that yet
  • OPEC delegates suggested a 350k cut for OPEC and a 150k cut Russia and Non-OPEC
  • OPEC official announced the press conference was cancelled for Thursday and sources noted the OPEC meeting was prolonged over...
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  • European equities eke mild gains with sentiment somewhat supported by earlier China MOFCOM comments
  • China's MOFCOM said US and China maintain close communication, reiterates if a Phase One deal is reached then tariffs should be reduced
  • OPEC+ are to discuss deeper oil output cuts of more than 400k BPD as the main scenario, according to sources
  • In FX, DXY meanders around 97.50, GBP remains the top gainer, NZD is supported by RBNZ hiking capital requirements, AUD trades lower on downbeat...
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  • Asian equity markets were mostly positive after yesterday’s positive US-China trade updates
  • China Global Times tweeted an opinion that if US ignores China's warning and continues interfering in Hong Kong affairs, the Chinese government will certainly step up countermeasures
  • DXY traded subdued and looked to retest the 97.50 level to the downside after yesterday’s soft data ahead of Friday’s NFP
  • Looking ahead, highlights include OPEC Meeting,...
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  • European bourses are firmer as risk sentiment has been lifted on US-China sources
  • US and China are reportedly moving closer to a trade deal despite the heated rhetoric, according to sources
  • US House voted in favour of passing the bill demanding sanctions on Chinese officals for the treatment of Uighurs
  • FX complex is mixed vs. USD with Sterling underperforming above 1.30 mark and AUD subdued after GDP metrics missed
  • Looking ahead, highlights include US ADP Employment, Markit Composite &...
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  • Asian equity markets extended on declines as global risk appetite remained sapped by the turbulent trade climate
  • Strong Chinese Caixin Services and Composite PMI numbers added to the country’s recent flurry of strong activity data 
  • US House voted 407-1 in favour of passing the bill demanding sanctions on Chinese officials for treatment of Uighur Muslims.
  • Looking ahead, highlights include Eurozone & UK Services & Composite PMIs, US ADP Employment, Markit Composite & Services PMI, ISM...
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  • US President Trump said it is probably better to wait until after the 2020 presidential election for a China deal
  • USTR office said France's digital services tax discriminates against US companies and that it will take action against regimes that discriminate against US companies
  • US President Trump said the EU has to shape up or "things will get very tough", EU said it is prepared to react strongly
  • European bourses wiped out earlier gains on...
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  • Asian equity markets retreated amid headwinds from the US where the major indices all but wiped out last week’s gains due to fresh trade concerns
  • China Global Times said China will soon release an unreliable entity list and noted that US House is expected to pass a Xinjiang-related bill that will harm the interests of Chinese firms
  • USTR office said France's digital services tax discriminates against US companies and that it will take action against regimes that discriminate against US companies
  • The...
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  • European equities pared a bulk of the earlier upside seen from above-forecast major global PMIs
  • Chinese markets welcomed the encouraging PMI data which aside from the headline beat, also showed Non-Manufacturing PMI and Caixin Manufacturing PMI topping estimates
  • US-China deal was said to be stalled because of Hong Kong legislation according to Axios sources, China Global Times noted that the trade deal must include tariff rollbacks
  • Global...
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  • Asian equity markets kick-started December on the front-foot with risk appetite stimulated by a flurry of better than expected Chinese data
  • Chinese markets welcomed the encouraging PMI data which aside from the headline beat, also showed Non-Manufacturing PMI and Caixin Manufacturing PMI topping estimates
  • US-China deal was said to be stalled because of Hong Kong legislation according to Axios sources
  • China Global Times noted that the trade...
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  • European bourses are little changed in thin trading conditions on an early US close
  • EZ CPI (Flash) printed above expectations, headline YY 1.0% vs. Exp. 0.9%
  • Both FX and debt are choppy with month end flows potentially the cause
  • Hong Kong Polytechnic University siege was confirmed to have ended as police swept through a vacant but devastated campus yesterday
  • Looking ahead, highlights include Canadian GDP, Black Friday, ECB’s de Guindos & de Cos, early US...
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  • Asian equity markets were mostly subdued after the holiday closure stateside and amid continued trade uncertainty
  • Hong Kong Polytechnic University siege was confirmed to have ended as police swept through a vacant but devastated campus yesterday
  • USD was lacklustre amid the holiday-quietened conditions, EUR/USD consolidated at the bottom end of the 1.1000 handle, momentum in GBP/USD faded
  • Looking ahead, highlights include Swedish GDP (Q3), EZ CPI (Flash) & Unemployment Rate, Canadian GDP, Black...
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  • Asian markets traded mostly lower as the positivity from another record setting session on Wall St heading into Thanksgiving Day, quickly faded
  • US President Trump signed the Hong Kong bills into law despite Beijing's objections, according to the White House
  • China Foreign Ministry reiterated it strongly opposes the US bill on Hong Kong and that the bill severely meddles in China's internal affairs
  • UK YouGov MRP General Election Poll showed Conservatives are set for a 68-seat majority with the party...
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  • European bourses are firmer this morning in tentative trade ahead of the last full US day for the week
  • Top trade ministers from US, Mexico and Canada will sit down in Washington today for talks on USMCA
  • Little movement in either the FX or Fixed complexes at present; DXY is slightly firmer
  • Looking ahead, highlights include US Durables, GDP 2nd Estimate, Jobless Claims, Personal Income, Consumption, Core PCE Price Index, DoEs, Japanese Retail Sales, Fed’s Beige Book, YouGov MRP Model, Day 1 of OPEC's...
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  • Asian equity markets traded broadly firmer after Wall Street extended on record levels once again
  • However, gains were capped given the lack of material breakthrough from the recent slew of optimistic US-China trade rhetoric
  • US President Trump said we are in the final throes of reaching a trade deal with China and wants to see democracy in Hong Kong
  • Latest YouGov/Sky News poll shows an 11-point lead for Conservatives; down from the prior...
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  • European bourses are softer in holiday-thinned conditions despite positive overnight trade rhetoric
  • ·China and US trade negotiators held a phone call today in which they reached a consensus on solving issues and agreed to keep in contact regarding phase one deal
  • Fed Chair Powell said Fed would respond if developments spurred a material outlook reassesment and that current monetary policy is likely to remain appropriate as long as data is consistent with moderate growth
  • RBA Governor Lowe says QE is...
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European Equity Movers this Morning: Persimmon (PSN LN) +14.0% RBS (RBS LN) +11.0% Peugeot (UG FP) +2.6% Airbus (AI… https://t.co/CLr4moTta4