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  • European bourses & US futures are under pressure, though the latter comparably more contained pre-data/Fed speak
  • DXY dips but retains an underlying bid while JPY outperforms after jawboning, CAD soft pre-BoC as crude pullsback
  • A session of consolidation for crude after Tuesday’s pronounced upside, metals feature spot gold near unchanged while base peers have lifted from lows in-line with China
  • EGBs pressured by hawk-Knot after fleeting...
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  • APAC stocks traded mostly in the red following the subdued handover from Wall Street where sentiment was clouded by the higher yield environment.
  • European equity futures are indicative of a lower open with Euro Stoxx 50 future -0.4% after the cash market closed down 0.3% yesterday.
  • DXY has held on to a bulk of yesterday's gains, USD/JPY remains on a 147 handle, EUR/USD languishes firmly below 1.08.
  • Japanese top currency diplomat Kanda...
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  • European bourses/US futures are subdued as soft Chinese data weighs on sentiment, though equities are off lows as the US returns
  • DXY continues to climb with risk-aversion and accompanying yield upside fuelling the strength, Antipodeans lag given the China data while the RBA was as-expected
  • Core fixed benchmarks are in the red with action occurring around the EZ/regional and UK PMIs but for the most part this has been shortlived; US yields bid across the...
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  • APAC stocks were mostly subdued after the holiday lull stateside and as the region digested disappointing data including weaker-than-expected Chinese Caixin Services PMI.
  • European equity futures are indicative of a slightly lower open with Euro Stoxx 50 future -0.1% after the cash market closed down 0.1% yesterday.
  • DXY is contained above the 104.00 level, EUR/USD lingers below 1.08 and AUD lags.
  • RBA kept the Cash Rate Target unchanged at...
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  • APAC stocks traded mostly higher led by strength in China’s property sector amid gains in Country Garden Holdings.
  • Country Garden Holdings surging by a double-digit percentage after it made a payment on a ringgit-denominated bond and won approval to extend its onshore private bond maturity by three years.
  • European equity futures are indicative of a higher open with Euro Stoxx 50 futures +0.3% after the cash market closed down 0.3% on...
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  • Equity bourses/futures are incrementally firmer but the overall tone remains tentative ahead of key US data
  • USD bounces from overnight lows but remains softer overall with peers generally contained; Yuan underpinned by PBoC action and data
  • Energy benchmarks are firmer owing to the USD and Chevron/LNG updates, base metals glean support from Chinese stimulus
  • Fixed benchmarks consolidate after month-end action and await data...
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  • APAC stocks traded mixed following a similar lead from Wall Street, whilst Hong Kong markets were closed due to Typhoon Saola.
  • PBoC is to cut FX RRR by 2ppts to 4% (prev. 6%) from September 15th, according to the central bank; Several major Chinese banks lowered their deposit rates.
  • DXY traded choppily within a tight range but was knocked to session lows after the PBoC headlines induced Yuan strength, which later pared back.
  • Softbank's (9984...
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  • European bourses are mostly firmer after a packed morning ahead of an equally busy US agenda, ES +0.1%
  • EUR & EZ yields slump after Flash HICP and balanced commentary from Schnabel on a hike/skip for upcoming meetings
  • Pricing for a 25bp hike by the ECB in September down to a 30% chance from over 60% in recent sessions
  • DXY bid as a result and pressuring peers, Cable dented further by Pill backing a steady for longer strategy vs...
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  • APAC stocks eventually traded mostly negatively following a marginally positive handover from Wall Street, which saw an equity bid underpinned by dovish US economic data.
  • DXY was caged in a tight range after being dealt another blow by US data yesterday, JPY and AUD narrowly outperformed.
  • European equity futures are indicative of a flat open after Euro Stoxx 50 cash closed -0.3% yesterday.
  • Chinese PMIs were mixed, manufacturing topped...
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  • European bourses are in the red as expectations for the ECB September meeting turns more hawkish
  • Stateside, futures are in the red with the NQ lagging slightly as yields lift
  • German regional & Spanish Flash CPIs spurred ECB pricing to a circa. 60% chance of 25bp in Sep., vs 50/50 recently
  • Broad debt retracement after Tuesday’s US-data inspired highs with EGBs leading post-data
  • Crude benchmarks at highs as Idalia...
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  • APAC stocks traded positively following the JOLTS-induced gains seen on Wall Street, although Mainland China waned throughout the session.
  • DXY was steady after the prior day’s slump, with the index finding overnight support near 103.50 while AUD was dented by softer-than-expected CPI.
  • BoJ Board Member Tamara said it is appropriate to keep easy policy now and he doesn’t expect the 10yr JGB yield to hit 1.0%.
  • European equity futures are...
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  • Equities are in the green despite fading just after the European open, further upside seen on Chinese sources
  • Multiple reports via State Media and BBG that China is considering rate-related action to bolster growth
  • Crude benchmarks print fresh highs on the above and as Idalia intensifies into a hurricane, gas deflates slightly after marked Monday upside
  • DXY continues to rotate around 104.00 with Antipodeans outperforming while the EUR fades...
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  • APAC stocks traded with an upward bias following the positive lead from Wall Street, with little in terms of fresh catalysts to dictate price action heading into month-end.
  • DXY was subdued after retreating back under the 104.00 mark in early APAC hours, while debt futures tilted firmer.
  • Chinese State media reports PBoC may cut banks' RRR earlier than expected to maintain reasonable ample liquidity.
  • Australian union said workers at Chevron's...
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  • Equities are in the green with fresh drivers limited and markets deriving impetus from APAC upside
  • DXY has dipped below 104.00 with peers generally contained, JPY near lows as Ueda underlines reasons to remain ultra-accommodative
  • Energy benchmarks firmer amid numerous NHC and Offshore Alliance updates
  • Bunds test Friday’s trough in a return to the bearish path of least resistance
  • Looking ahead, highlights include US...
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  • APAC stocks kicked off the week in the green, following a similar lead from Wall Street, whilst the focus overnight was on Chinese markets after Friday's stock support measures.
  • DXY was caged to a tight range above 104.00 after Friday’s choppy session, AUD outperformed whilst the JPY stood as the G10 laggard.
  • ECB President Lagarde on Friday said the ECB needs to set rates at sufficiently restrictive levels for as long as necessary to achieve a timely return of...
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  • European bourses and US futures are modestly firmer but the overall tone is tentative pre-Jackson Hole
  • USD is bid but rangebound pre-Powell while EUR lags after dovish-leaning ECB sources, AUD outperforms as base metals lift
  • Core benchmarks continue to pullback with Bunds entirely paring knee-jerk upside to sources
  • ECB sources report momentum is growing for a pause as recession fears increase, via Reuters
  • Crude...
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  • APAC stocks traded lower following the weak handover from global counterparts after the Nvidia-related euphoria wore off.
  • European equity futures are indicative of a lower open with the Eurostoxx 50 future -0.3% after the cash market closed down 0.8% yesterday.
  • DXY has extended upside above 104 and is firmer vs. peers, EUR/USD sits on a 1.07 handle whilst USD/JPY has reclaimed 146 status. 
  • ECB's Nagel stated it is much too early to...
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  • Tech/NQ lead the equity space after NVDA earnings, +7.7% pre-market, as attention turns to Jackson Hole
  • USD has bounced from post-PMI lows, Antipodeans lag after recent outperformance & JPY unwinds recovery gains
  • EGBs/Gilts tested post-PMI bounds before running out of steam, USTs under modest pressure
  • Crude has turned positive and nat gas benchmarks are off lows after Chevron’s vote update; TTF remains markedly pressured...
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  • Nvidia rose 6.6% after-hours post-earnings after reporting solid Q2 profits and announcing an additional USD 25bln in buybacks
  • APAC stocks traded higher as the region took impetus from the gains on Wall St. and the Nvidia-induced rise in futures; ES +0.8%, NQ +1.3%
  • European equity futures are indicative of a higher open with the Eurostoxx 50 future +0.7% after the cash market closed up by 0.2% yesterday
  • DXY is contained on a 103...
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  • European bourses & US futures are firmer and back towards best as lower yields take precedence over European growth concerns
  • Germany’s PMI saw a marked contraction for services and a bleak accompanying GDP nowcast, input costs increased in the EZ for the first time in 11 months
  • USD benefits as EUR & GBP decline following dire PMIs while JPY outperforms as yields tumble
  • Mentioned data has trimmed the probability of ECB/BoE tightening,...
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  • APAC stocks traded mixed amid a slew of earnings releases alongside the latest PMI data from the region but with price action relatively rangebound.
  • Fed's Barkin (2024 voter) said the US economy could reaccelerate before inflation cools and he won't prejudge the outcome of the Fed's September meeting.
  • DXY gave back some of the prior day’s gains, albeit with price action contained ahead of flash PMIs and the Fed’s Jackson Hole...
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  • European bourses and US futures are firmer as the US tech-led rally reverberated into Europe
  • APAC trade was more mixed, though a late-doors revival occurred in Chinese-stocks despite limited catalysts
  • DXY continues to slip and nears 103.00 with Antipodeans benefitting from the risk tone pre-data while JPY gets respite from a stabilisation in yields
  • Fixed benchmarks have bounced firmly after Monday’s marked yield...
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  • APAC stocks traded mixed following a similar performance stateside where tech rallied.
  • WSJ's Timiraos tweeted that he believes Fed Chair Powell is unlikely to speak about higher neutral rates at the Jackson Hole Symposium.
  • European equity futures are indicative of a higher open with the Eurostoxx 50 future +0.5% after the cash market closed up by 0.3% yesterday.
  • DXY is a touch softer but still on a 103 handle, EUR/USD is back above 1.09,...
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  • Equity bourses/futures have gradually improved throughout the morning after a contained European open
  • Action which occurs in limited newsflow and follows mixed APAC on a disappointing LPR adjustment which overshadowed support measures
  • Crude and nat gas are bolstered by supply-side updates via the NHC and on Australian LNG
  • USD drifts in a contained start to the week, EUR eyes OpEx while the JPY is undermined by upside in US...
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  • APAC stocks traded mixed as the disappointment from China’s decision on its Loan Prime Rates overshadowed its recent support efforts; Hong Kong underperformed.
  • PBoC opted for a narrower-than-expected cut to the 1-year LPR alongside a surprise hold on the 5-year LPR, which is the reference rate for mortgages.
  • PBoC and regulators met with bank executives and told lenders to boost loans to support the economic recovery, according to...
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