13 Jul 2023, 06:25 by Newsquawk Desk
- APAC stocks traded higher as the region reacted to the softer-than-expected US inflation data while weaker-than-expected Chinese trade data failed to dampen the spirit.
- European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.1% after the cash market closed up by 1.7% yesterday.
- DXY sits at its lowest level in over a year, EUR/USD and Cable maintain 1.11 and 1.30 status respectively, antipodeans lead.
- Fixed...
12 Jul 2023, 11:25 by Newsquawk Desk
- European bourses are firmer across the board with Tech leading after favourable broker action
- US futures in the green but more contained ahead of CPI and Fed speak
- DXY continues to wane after losing 101.50, with JPY outperforming while antipodeans wane after Central Bank activity
- Core fixed income is modestly firmer as the recovery rally resumes and yields slip with the US belly heavy
- Commodities inch higher on the...
12 Jul 2023, 06:28 by Newsquawk Desk
- APAC stocks traded mixed with the region cautious heading into today’s key US inflation data.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up by 0.7% yesterday.
- DXY slipped to a fresh two-month low as USD/JPY moved back below 140 and a firmer PBoC CNY fix, NZD is stronger post-RBNZ.
- RBNZ kept the OCR unchanged at 5.50% as expected and agreed that the OCR will need to...
11 Jul 2023, 11:25 by Newsquawk Desk
- European bourses remain firmer but off best levels as sentiment slips throughout the morning
- Stateside, futures in-fitting though action has been more contained and they remain much closer to Unch.
- DXY fails to benefit from the pullback in risk appetite as CHF and JPY outperform with UST yields pulling back, EUR unreactive to weak ZEW
- Core benchmarks are bid, with Gilts in-fitting despite hawkish wage metrics
- Crude...
11 Jul 2023, 06:30 by Newsquawk Desk
- APAC stocks were mostly positive following the tailwinds from the US while participants also reflected on China's support efforts.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.3% after the cash market closed up by 0.5% yesterday.
- DXY has extended further beneath 102, EUR/USD is back above 1.10, JPY leads the majors with USD/JPY below 141.
- Crude futures were marginally firmer owing to the risk tone, USTs...
10 Jul 2023, 11:25 by Newsquawk Desk
- European bourses are firmer across the board but diverging with their US peers currently
- USD regains poise with Antipodeans fading and EUR noting OpEx; Scandis lead on CPI & Minutes
- Core fixed benchmarks are lower despite fleeting bounces ahead of data & several speakers
- Crude benchmarks remain softer post-Chinese CPI, base metals in-fitting while spot gold is more contained
- Yellen said the US & China...
10 Jul 2023, 06:40 by Newsquawk Desk
- APAC stocks were mostly positive albeit with gains capped for many of the regional bourses.
- US equity futures lacked excitement as participants look ahead to this week's risk events including US CPI data; European equity futures are indicative of a lower open.
- The latest Chinese inflation data missed estimates with zero consumer inflation in the mainland and a deeper contraction in factory gate prices.
- US Treasury Secretary Yellen had a...
07 Jul 2023, 11:06 by Newsquawk Desk
- European bourse began in the red, but have since moved modestly into the green; US futures remain softer pre-NFP
- JPY continues its comeback as spreads tighten to the detriment of the USD, index tethered to 103.00
- Fixed income has resumed its downward trajectory despite initial two-way action, benchmarks currently at lows
- Crude is firmer and benefitting from the USD downside and the week’s OPEC/Saudi remarks
- Looking...
07 Jul 2023, 06:40 by Newsquawk Desk
- APAC stocks were mostly lower amid spillover selling from global peers including in the US where the major indices were pressured.
- DXY remained confined to within a narrow range as price action calmed down from yesterday’s fluctuations, USD/JPY traded on both sides of the 144.00 level.
- European equity futures are indicative of a slightly higher open after the Euro Stoxx 50 cash closed down by 2.9% yesterday.
- Some key purchasers of Saudi...
06 Jul 2023, 11:20 by Newsquawk Desk
- European bourses and US futures are pressured as growth concerns draw focus before key US data
- Cyclicals lag while defensives outperform, but remain red; Meta is bolstered as Threads launches
- DXY slips post-Minutes while USD/JPY reverses through 144.00 and Antipodeans lead despite risk aversion
- Gilts gap lower as BoE tightening expectations continue to lift, EGBs and USTs in-fitting with yields lifting further
- Crude...
06 Jul 2023, 06:30 by Newsquawk Desk
- APAC stocks were mostly lower following the post-Independence Day hangover in the US owing to recent weak global data releases and a rising yield environment.
- The FOMC Minutes provided little to deviate from the current view of future rate increases - almost all participants judged it appropriate or acceptable to leave the target rate unchanged at the June meeting.
- Fed's Williams (voter) said he is not content with where inflation is right now, and that a June rate...
05 Jul 2023, 11:35 by Newsquawk Desk
- European bourses are in the red after bleak EZ and Chinese PMI data, US futures similarly downbeat pre-FOMC Minutes
- Crude initially pressured on the above but lifted by Saudi commentary from the OPEC+ seminar
- DXY remains in close proximity to 103.00, with JPY benefitting from a broader yield pullback while EUR slips post-PMIs
- Fixed income is bid, following data and strong UK and German supply; yields lower, short-end...
05 Jul 2023, 06:30 by Newsquawk Desk
- APAC stocks were mostly lower following the holiday lull stateside and as participants digested the latest Chinese Caixin Services PMI data.
- DXY eked mild gains and retained the 103.00 status with price action rangebound after the Independence Day celebrations in the US.
- Crude futures faded some of the prior day's gains amid the mostly risk-averse mood in Asia, while the focus turns to the OPEC International Seminar.
- Chinese President Xi...
04 Jul 2023, 06:30 by Newsquawk Desk
- APAC stocks traded mixed with the regional bourses mostly rangebound amid the holiday-thinned conditions stateside
- DXY traded rangebound, EUR/USD and GBP/USD lacked direction, USD/JPY was choppy, AUD slipped after the RBA.
- The RBA decided to keep rates on hold, but maintained a hawkish tone and kept the door open for future rate hikes.
- Two drones were intercepted in the Moscow region and one in the Kaluga region, according to Russian...
03 Jul 2023, 11:30 by Newsquawk Desk
- European bourses are firmer with sectors similarly supported while US futures are incrementally higher pre-ISM and after a constructive APAC handover
- Tesla outperforms in the pre-market after record Q2 deliveries, TSLA +6.2%
- In FX the USD recovers post-Friday’s data while CHF lags post-CPI, EUR hit on PMIs and JPY dented as yield differentials widen
- Crude benchmarks were initially contained but have seen renewed upside on the Russian and...
03 Jul 2023, 06:30 by Newsquawk Desk
- APAC stocks began the new trading month on the front foot with momentum from last Friday's rally on Wall Street; European equity futures are indicative of a marginally higher open.
- DXY was contained ahead of the thinned conditions stateside where markets will close early owing to tomorrow’s Independence Day celebrations.
- Chinese Caixin Manufacturing PMI topped forecasts for its second consecutive monthly expansion.
- US confirmed that Treasury...
30 Jun 2023, 10:58 by Newsquawk Desk
- European bourses trade on the front-foot with the Stoxx 600 on track to close the week out with gains, with little action seen on the EZ Flash CPI metrics.
- US equity futures are around flat/tilting higher ahead of today’s key PCE data for May, before traders head out for the long Independence Day holiday weekend.
- ASML does not expect the Dutch government's chip export measures to have a material impact on its financial outlook.
- China may...
30 Jun 2023, 06:27 by Newsquawk Desk
- APAC stocks mostly traded with cautious gains as participants digested a slew of data releases at quarter-end.
- Chinese Manufacturing PMI matched estimates and Non-Manufacturing PMI was slightly softer-than-expected although remained in a firm expansion.
- European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 0.2% yesterday.
- DXY has held on to a bulk of yesterday's gains,...
30 Jun 2023, 06:27 by Newsquawk Desk
- APAC stocks mostly traded with cautious gains as participants digested a slew of data releases at quarter-end.
- Chinese Manufacturing PMI matched estimates and Non-Manufacturing PMI was slightly softer-than-expected although remained in a firm expansion.
- European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 0.2% yesterday.
- DXY has held on to a bulk of yesterday's gains,...
29 Jun 2023, 10:35 by Newsquawk Desk
- European bourses trade with little in the way of firm direction following a similarly indecisive close on Wall Street yesterday.
- US equity futures are around flat with the ES holding above the 4400 mark.
- Fed Chair Powell revealed his expectations for Friday’s PCE data (Core PCE likely rose 4.7% Y/Y in May, overall PCE estimated to have risen 3.9%) and remarked that a strong majority of Fed policymakers see two or more rate rises by the end of this...
29 Jun 2023, 06:28 by Newsquawk Desk
- APAC stocks traded mixed amid some indecision heading closer towards month/quarter/half-year end and after the choppy performance stateside.
- US bank shares were marginally supported after-hours following the Fed's stress test results which all 23 of the largest banks passed.
- European equity futures are indicative of a flat open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.9% yesterday.
- DXY is back on a 103 handle,...
28 Jun 2023, 10:53 by Newsquawk Desk
- European bourses trade on the front foot as the region plays catch up to the afternoon gains on Wall Street.
- DXY defies gravity given negative rebalancing signals on spot month, Q1 and H1-end, as the index continued to pivot 102.50.
- Debt futures overcame several wobbles before establishing a more solid base to mount a firmer recovery from sub-par lows.
- WTI and Brent whipsawed between gains and losses this morning despite a lack of newsflow,...
28 Jun 2023, 06:28 by Newsquawk Desk
- APAC stocks traded mixed and only partially sustained the momentum from Wall St. which was led higher by tech.
- Softer-than-expected monthly CPI data from Australia added to the bets for the RBA to keep rates unchanged at next week’s meeting.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.6% yesterday.
- DXY is a touch firmer above 102.50, AUD lags...
27 Jun 2023, 11:30 by Newsquawk Desk
- European bourses have been edging lower throughout the morning despite the enthusiasm seen ahead of the cash open, with the ECB Sintra Forum underway.
- DXY is on a softer footing intraday with the range on either side of 102.50, whilst prelim rebalancing models tilt Dollar-negative.
- Debt futures have extended their pull-back from yesterday’s best levels to deeper lows.
- WTI and Brent futures have given up the mild gains seen in early European...
27 Jun 2023, 06:28 by Newsquawk Desk
- US stocks finished predominantly lower with underperformance in the Nasdaq, whilst small caps were resilient and the Russell 2000 closed in the green
- APAC stocks were mostly positive as the risk tone improved following the predominantly negative handover from the US
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.2% yesterday
- DXY is a touch softer but holding...