03 Aug 2023, 11:17 by Newsquawk Desk
- European bourses & US futures continue to slump in an extension of Wednesday’s price action with yields on the up
- EGBs/USTs continue to drop and have made new lows below the post-Refunding/Fitch trough, Gilts pressured further pre-BoE
- Further upside for the USD with JPY outperforming on haven action while EUR & GBP slip
- Commodities are in-fitting with the above risk tone and accompanying USD strength; complex is conscious of punchy...
03 Aug 2023, 06:35 by Newsquawk Desk
- APAC stocks mostly followed suit to the weakness in global peers, albeit with some of the losses stemmed in Asia as participants digested Chinese Caixin PMI figures.
- European equity futures are indicative of a marginally softer open with the Euro Stoxx 50 -0.1% after the cash market closed down by 1.6% yesterday.
- DXY remains on the front foot, EUR/USD has moved lower on a 1.09 handle, Cable sits below 1.27 pre-BoE, JPY lags post-BoJ unscheduled bond-buying...
02 Aug 2023, 11:22 by Newsquawk Desk
- European bourses & US futures are in the red as sentiment continues to deteriorate from the APAC/Wall St. handover
- Fitch cut the US' sovereign rating from AAA to AA+; Outlook revised to Stable from Watch Negative.
- DXY benefits from the soured tone with JPY outperforming while EUR & GBP prove relatively resilient to the USD
- EGBs are firmer and benefiting from haven allure with USTs bid as such and giving up some pre-Quarterly...
02 Aug 2023, 06:35 by Newsquawk Desk
- APAC stocks traded lower following the mostly negative lead from Wall St where sentiment was dampened by higher yields and weak data
- Fitch cut US sovereign rating from AAA to AA+; Outlook revised to Stable from Watch Negative
- European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.7% after the cash market closed down by 0.9% yesterday
- DXY is firmer and on a 102 handle, JPY leads the majors, antipodeans lag, EUR/USD...
01 Aug 2023, 11:04 by Newsquawk Desk
- European bourses are in the red with initial catalysts light but sentiment deteriorating further alongside Final PMIs
- Stateside, futures also pressured but magnitudes are more contained ahead of manufacturing data
- DXY continues to climb to the detriment of G10 peers, AUD lags post-RBA maintained its Cash Rate
- EGBs slip despite deteriorating risk and welcome EZ PMI commentary re. inflation; USTs mixed
- Crude slumps as...
01 Aug 2023, 06:45 by Newsquawk Desk
- APAC stocks were mostly higher following the positive lead from Wall St where the S&P 500 notched its 5th consecutive monthly gain.
- RBA maintained its Cash Rate Target unchanged at 4.10% and noted that some further tightening of monetary policy may be required.
- AUD lags post-RBA, JPY is also on the backfoot, DXY oscillates around the 102 mark, EUR/USD sits just below 1.10.
- European equity futures are indicative of a flat open with...
31 Jul 2023, 11:01 by Newsquawk Desk
- European bourses are mixed/steady around the unchanged mark, with US futures following suit
- Action which follows mostly firmer APAC trade given Wall St. momentum, Chinese stimulus and despite mixed PMIs
- DXY is on the front-foot despite some month-end model predictions; JPY standout laggard while Antipodeans outperform
- Fixed income remains pressured though JGBs have steadied after unscheduled 5-10yr purchases, EGBs unreactive to Flash...
31 Jul 2023, 06:34 by Newsquawk Desk
- APAC stocks headed into month-end mostly on the front foot as participants digested the latest support efforts from China and mixed PMI data.
- Chinese headline Manufacturing PMI slightly topped forecasts but remained in contraction territory and Non-Manufacturing PMI disappointed with the slowest pace of increase since December 2022.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.5% after the cash market closed up by 0.4% on...
28 Jul 2023, 11:38 by Newsquawk Desk
- BoJ kept monetary policy settings unchanged but announced it will guide YCC more flexibly with fixed rate operations for 10yr JGB to be conducted at 1.0% (prev. 0.5%).
- At the post-meeting presser, BoJ Governor Ueda emphasised the need for continued monetary easing, stating that the bank is prepared to further ease policy if required.
- European equities are a mixed bag as the dust settles on yesterday’s ECB announcement and the overnight BoJ...
28 Jul 2023, 06:35 by Newsquawk Desk
- BoJ kept monetary policy settings unchanged but announced it will guide YCC more flexibly with fixed rate operations for 10yr JGB to be conducted at 1.0% (prev. 50bps).
- APAC stocks are mixed with underperformance in the Nikkei 225 as markets digest the fallout from the BoJ.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.4% after the cash market closed up by 2.3% yesterday.
- JPY is the standout outperformer in...
27 Jul 2023, 11:07 by Newsquawk Desk
- European bourses in the green in a continuation of APAC trade with a blockbuster earnings docket influencing
- US futures firmer and the NQ outperforms following Meta’s after-hours report, META +8.3%
- DXY pressured to near 100.50 with EUR & JPY taking advantage ahead of their rate decisions, Antipodeans lead given risk sentiment
- Crude benchmarks bid intraday given risk & USD, with both precious and base metals...
27 Jul 2023, 06:35 by Newsquawk Desk
- The Fed hiked rates by 25bps to 5.25%-5.50%, as expected, with the statement a copy & paste job from June.
- Markets initially perceived the presser as dovish after Powell avoided committing to future rate hikes and stressed a data-dependent approach.
- US equity futures edged higher overnight with NQ boosted by Meta shares post-earnings, APAC stocks were also firmer.
- European equity futures are indicative of a higher open with the Euro...
26 Jul 2023, 11:10 by Newsquawk Desk
- European bourses are generally subdued with the Euro Stoxx 50 weighed on by LVMH -4.4%
- Stateside, futures are more contained pre-FOMC and as participants digest after-hours MSFT & GOOGL updates
- DXY continues to slip amid ongoing JPY strength with EUR benefitting as the three regions near policy announcements; AUD lags post-CPI
- Crude benchmarks a touch softer intraday after Tuesday’s multi-month peaks with base metals in-fitting, XAU...
26 Jul 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mixed with most bourses lacking firm direction heading into the FOMC later today.
- European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.4% after the cash market closed up by 0.2% yesterday.
- DXY was contained on a 101 handle, EUR/USD languished below 1.11, Cable eyes 1.29, AUD soft post-CPI.
- Softer-than-expected inflation data from Australia supported the argument for the RBA to continue its...
25 Jul 2023, 11:23 by Newsquawk Desk
- European bourses & US futures are incrementally positive ahead of numerous key earnings from both sides of the pond
- DXY slipped to 101.18 before deriving support from an Ifo/ECB BLS driven hit to the Euro, AUD leads pre-CPI
- Core benchmarks are modestly pressured as earlier upside dissipates despite a strong DMO sale, US 5yr due
- German Ifo shows a return to growth contraction in Q3 while the ECB survey illustrates the ongoing impact of...
25 Jul 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly higher amid a rally in Chinese stocks after the Politburo’s support pledges.
- European equity futures are indicative of a marginally softer open with the Euro Stoxx 50 -0.1% after the cash market closed down by 0.2% yesterday.
- DXY is a touch softer but remains on a 101 handle, EUR/USD is stuck below 1.11, AUD marginally outperforms.
- Crude futures held on to most of their recent spoils after climbing to 3-month highs...
25 Jul 2023, 06:30 by Newsquawk Desk
- APAC stocks traded mostly higher amid a rally in Chinese stocks after the Politburo’s support pledges.
- European equity futures are indicative of a marginally softer open with the Euro Stoxx 50 -0.1% after the cash market closed down by 0.2% yesterday.
- DXY is a touch softer but remains on a 101 handle, EUR/USD is stuck below 1.11, AUD marginally outperforms.
- Crude futures held on to most of their recent spoils after climbing to 3-month highs...
24 Jul 2023, 11:25 by Newsquawk Desk
- European bourses are mixed with Flash PMIs flagging increased recession risks while Spain lags after Sunday’s stalemate
- Stateside, futures modestly firmer with the NQ in-fitting ahead of the special rebalance coming into effect
- DXY benefits from EUR & GBP pressure on disappointing PMIs while JPY regroups after further sources
- Crude benchmarks bolstered by the initial readout from China’s Politburo; base metals relatively unreactive while...
24 Jul 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly positive but with gains capped ahead of upcoming key risk events.
- European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.3% after the cash market closed up by 0.4% on Friday.
- DXY tested 101 to the downside, EUR/USD and Cable sit on 1.11 and 1.28 handles respectively, JPY marginally outperforms.
- None of the individual parties, nor the left or right blocs were able to secure a majority in...
21 Jul 2023, 11:30 by Newsquawk Desk
- BoJ sources around YCC spark marked dovish reaction in JPY and JGBs, which has filtered through to broader assets
- DXY back above 101.00 with USD/JPY testing 142.00; action which eroded GBP’s retail-driven upside
- European/US equity benchmarks relatively contained, Tech hit by SAP while NQ benefits from yield action
- JGB upside briefly lifts peers with EGBs/USTs struggling for direction while Gilts slip on data
- Crude...
21 Jul 2023, 06:35 by Newsquawk Desk
- US stocks mostly tumbled with the declines led by the Nasdaq 100 which posted its second worst day of the year.
- APAC stocks were mixed as further support efforts from China partially offset the headwinds from Wall St.
- European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.3% after the cash market closed up by 0.3% yesterday.
- DXY held onto yesterday's gains, EUR/USD and Cable sit on 1.11 and 1.28 handles...
20 Jul 2023, 11:10 by Newsquawk Desk
- European bourses are firmer though TSMC’s results have pressured Tech and the Euro Stoxx 50/AEX by extension; SAP due today
- Stateside, NQ lags given pre-market downside in NFLX & TSLA post-earnings
- AUD bolstered by jobs data, Yuan rebounds and EUR underpinned by yields with DXY drifting
- Core benchmarks pullback as Wednesday’s Gilt-driven move eases; yields firmer, short-end leading
- Crude is little changed while...
20 Jul 2023, 06:30 by Newsquawk Desk
- APAC stocks traded mixed following on from the choppy performance stateside as participants digested data and corporate earnings.
- Apple (AAPL) is racing to develop its own generative AI tools to catch OpenAI, according to Bloomberg.
- European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after the cash market closed down by 0.2% yesterday.
- DXY sits just above the 100 mark, AUD leads the majors...
19 Jul 2023, 11:20 by Newsquawk Desk
- European bourses & US futures are contained, with Real Estate leading while Base Resource names lag
- FTSE 100 outperforms after cooler-than-expected UK CPI, with Gilts bid, GBP dented and BoE pricing moving in favour of 25bp
- As such, GBP lags to the USD’s benefit while JPY approaches 140.0 and antipodeans lag
- Gilts outperform with an initial sympathy move for USTs and EGBs fading, the latter further after tepid...
19 Jul 2023, 06:34 by Newsquawk Desk
- US stocks were bid with outperformance in the Russell 2000 amid strong gains in the regional banking ETF.
- APAC stocks were mixed as the ongoing China economic woes partially offset the constructive lead from Wall St.
- European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.2% after the cash market closed up by 0.3% yesterday.
- DXY has reclaimed the 100 level, EUR/USD maintains 1.12 status, JPY lags the majors...