09 Jun 2023, 11:25 by Newsquawk Desk
- European bourses & US futures are contained with newsflow limited and the docket ahead sparse
- USD/JPY lifted by dovish BoJ sources with the DXY firmer and above 103.50, Yuan hit on soft CPI
- Fixed benchmarks relatively rangebound into the weekend and looking to next week’s key events
- Crude pivots particularly narrow parameters while XAU slips and base metals grind higher
- US Secretary of State Blinken's...
09 Jun 2023, 06:33 by Newsquawk Desk
- APAC stocks traded mostly higher following the gains on Wall St where the S&P 500 entered a bull market and tech outperformed.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 0.1% yesterday.
- DXY is contained just below 103.50, EUR/USD sits around two week highs, USD/JPY has reclaimed 139 status.
- US Secretary of State Blinken's long-delayed Beijing trip is now...
08 Jun 2023, 11:15 by Newsquawk Desk
- European bourses & US futures are mixed flat with updates limited in quiet newsflow
- DXY continues to pullback below 104.00 with G10s firmer across the board and activity-FX outperforming
- Core benchmarks continue to pullback but are off session lows with USTs contained pre-IJC & refunding
- Commodities are similarly contained, with crude and key metals in thin ranges and following the wider risk tone
- Looking...
08 Jun 2023, 06:35 by Newsquawk Desk
- APAC stocks were mostly subdued following the mixed handover from Wall St where tech underperformed as global yields climbed.
- RBI kept the key Repo Rate unchanged at 6.50%, as expected, with the decision on rates unanimous.
- European equity futures are indicative of a weaker open with the Euro Stoxx 50 -0.5% after the cash market closed down 0.1% yesterday.
- DXY is flat and lingering just below the 104 mark, EUR/USD is back above 1.07, USD/JPY...
07 Jun 2023, 11:35 by Newsquawk Desk
- European bourses are softer with the complex drifting post-open amid a lack of catalysts/drivers
- Stateside, action is in-fitting as we look to next week’s Tier 1 US events with the BoC looming in the interim
- DXY has drifted back to 104.00 as JPY benefits from lower US yields, AUD underpinned and CAD bid
- Core benchmarks have recouped from an initial reversal to/through prior closes; green Bobl and Gilt sales...
07 Jun 2023, 06:35 by Newsquawk Desk
- APAC stocks mostly gained following the positive handover from Wall St where the S&P 500 posted its highest close YTD
- Chinese trade data mostly disappointed including the wider-than-expected contraction in dollar-denominated exports
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.2% after the cash market closed flat yesterday
- DXY hovers just above the 104 mark, EUR/USD is capped by 1.07,...
06 Jun 2023, 11:21 by Newsquawk Desk
- European equities trade with little in the way of firm direction, with US equity futures also hovering around the unchanged mark.
- RBA delivered a surprise 25bps rate hike and kept the door open for further policy tightening.
- China has reportedly asked the largest banks to cut deposit rates to boost the economy.
- Ukraine's State Atomic Agency said the destruction of the Kakhova dam poses a risk to the Zaporizhzhia nuclear power plant, but does...
06 Jun 2023, 06:44 by Newsquawk Desk
- APAC stocks traded mixed with price action mostly rangebound following on from the subdued performance stateside.
- Apple (AAPL) announced its new VR headset, Apple Vision Pro, which augments reality with the real world.
- RBA delivered a surprise 25bps rate hike and kept the door open for further policy tightening.
- European equity futures are indicative of a contained open with the Euro Stoxx 50 flat after the cash market closed down 0.7%...
05 Jun 2023, 10:57 by Newsquawk Desk
- European equities trade flat following Friday’s solid session for the region, FTSE 100 narrowly outperforms; US equity futures are flat
- Saudi Arabia announced it is to cut an additional 1mln bpd of oil output in July; all other OPEC+ producers agreed to extend earlier cuts through to the end of 2024
- Saudi’s Energy Minister said will keep the markets in suspense on whether the additional voluntary cut for July will be extended
- DXY maintains a...
05 Jun 2023, 06:43 by Newsquawk Desk
- APAC stocks were mostly positive amid momentum from Friday's post-NFP gains on Wall Street and strong Chinese Caixin Services and Composite PMIs.
- Saudi Arabia announced it is to cut an additional 1mln bpd of oil output in July; all other OPEC+ producers agreed to extend earlier cuts through to the end of 2024.
- Saudi’s Energy Minister said will keep the markets in suspense on whether the additional voluntary cut for July will be...
02 Jun 2023, 10:55 by Newsquawk Desk
- European equities trade on the front foot following the Senate passage of the debt ceiling bill
- US Senate voted 63-36 to pass the US debt ceiling bill, which sends it to President Biden's desk
- DXY oscillates in a tight range on either side of 103.50 ahead of the US jobs report
- Industrial commodities are boosted by source reports that China is reportedly mulling a property-market support package to bolster the...
02 Jun 2023, 06:39 by Newsquawk Desk
- US Senate voted 63-36 to pass the US debt ceiling bill, which sends it to President Biden's desk.
- APAC stocks traded higher as the region took impetus from Wall St where the S&P 500 and Nasdaq climbed to 9-month highs.
- Fed's Harker (voter) said the Fed does not have to keep moving rates up and thinks they should at least skip raising rates in June.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.5% after...
01 Jun 2023, 11:25 by Newsquawk Desk
- European bourses are firmer as sentiment improves after the US House vote & Chinese Caixin PMI
- Stateside, futures are more contained as debt focus turns to the Senate and potential amendment votes
- DXY subdued after Wednesday’s Fed remarks with attention turning to US data before Friday’s NFP
- Flash EZ HICP spurred little sustained reaction, as it chimes with regionals; debt benchmarks dip after...
01 Jun 2023, 06:30 by Newsquawk Desk
- APAC stocks were mostly positive after the US House passed the debt ceiling bill to avert a default which now moves to the Senate
- Chinese Caixin Manufacturing PMI data partially atoned for yesterday’s weak official PMI readings.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.7% after the cash market closed down 1.7% yesterday.
- DXY is a touch firmer on a 104 handle, EUR/USD remains stuck below 1.07, NZD and...
31 May 2023, 11:20 by Newsquawk Desk
- European bourses & US futures are softer after a weak APAC handover on PMIs and despite softer inflation data
- DXY lifted to a new WTD best as EUR succumbs on CPI, Yuan drifts on data and Mester remains hawkish
- EGBs bid on softer-than-expected inflation metrics from German states and France, though upside briefly capped by the latest Italian figures
- Crude continues to crumble while base metals are dented by soft Chinese data,...
31 May 2023, 06:40 by Newsquawk Desk
- APAC stocks were mostly lower following the mixed handover from Wall St where sentiment was clouded as hardliners voiced opposition to the debt ceiling bill.
- US House Committee voted 7-6 to advance the debt ceiling bill which sends it to the full House for approval.
- European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.4% after the cash market closed down 0.7% yesterday.
- Chinese Manufacturing and Non-Manufacturing...
30 May 2023, 11:35 by Newsquawk Desk
- European bourses are mixed after a morning of choppy price action; IBEX outperforms on inflation numbers
- Stateside, futures are bid after an in-principal debt ceiling agreement with the NQ outperforming as NVDA leads in the pre-market
- DXY briefly surmounted 104.50 but has since receded as Kanda-induced JPY pressure abates and GBP surpasses 1.24
- EGBs/USTs extend after soft EZ data and Spanish inflation, fresh highs occurring after...
30 May 2023, 06:35 by Newsquawk Desk
- US President Biden reached a budget agreement in principle with House Speaker McCarthy to raise the debt limit by 19 months until 1st January 2025
- In FX, DXY initially softened overnight alongside a downtick in US yields but then recovered against its major peers and as the CNY continued to depreciate; US equity futures saw mild gains
- In geopolitics, Russia launched a large drone attack on Kyiv over the weekend, while it was recently reported two residential...
26 May 2023, 11:15 by Newsquawk Desk
- Risk tone has slipped as we await substantive debt ceiling updates into the long weekend
- DXY is softer, but remains above 104.00, with CHF and JPY outperforming
- EGBs/Gilts slipped on UK Retail data, but have since pared with USTs bid on the above tone
- Commodities edging higher given the USD and XAU benefitting from sentiment
- McCarthy said there was no agreement Thursday; will stay to continue work. Biden said they...
26 May 2023, 06:30 by Newsquawk Desk
- APAC stocks traded mixed following the mild positive bias stateside where the tech sector surged on Nvidia’s blockbuster report
- Nikkei 225 outperformed, US equity futures were rangebound, and European equity futures are indicative of a flat open
- US President Biden and House Speaker McCarthy are said to be near a deal that would raise the debt ceiling for two years and cap spending
- US House Speaker McCarthy said there was no agreement on...
25 May 2023, 11:30 by Newsquawk Desk
- NQ outperforms post-NVDA, with Europe deriving upside in tandem though capped after German GDP revisions
- Stateside, debt ceiling concerns continue with focus on Fitch though journalist updates since have been somewhat constructive on talks
- USD remains dominant with the DXY above 104.00 with NZD descending further after Orr’s remarks
- EGBs/USTs continue to slip though Gilts remains the standout laggard in a continuation of the UK-CPI...
25 May 2023, 06:40 by Newsquawk Desk
- APAC stocks were mostly lower with the region cautious after the losses on Wall St owing to debt ceiling fears, whilst Fitch placed the US on Credit Watch Negative.
- Nasdaq futures surged as NVIDIA (NVDA) shares rallied almost 25% after the close as earnings and forecasts beat expectations
- The FOMC May minutes were in fitting with recent Fed commentary and showed that officials were somewhat split on support for more rate hikes
- European...
24 May 2023, 11:30 by Newsquawk Desk
- European bourses are under marked pressure as headwinds mount while US futures are lower but more contained awaiting debt ceiling developments
- Overall, updates via journalists this morning are skewed to the downside on a near-term agreement
- Hawkish impulses were seen on hot UK CPI, with core fixed income pressured & BoE pricing lifting
- Though, Bunds & USTs have reverted back to modest positive territory as focus returns to potential...
24 May 2023, 06:25 by Newsquawk Desk
- APAC stocks were mostly lower following the negative lead from Wall St and amid US-China frictions.
- The US House China Select Committee Chair called for retaliation against China’s ban on Micron.
- US GOP Rep. McHenry said the top-line disagreement remains on spending and he cannot say when negotiations will resume.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.4% after the cash market closed down by 1.0%...
23 May 2023, 11:20 by Newsquawk Desk
- European bourses are pressured on continuing Manufacturing PMI softness alongside hawkish pricing implications
- Stateside, futures are essentially flat as we await further substantive debt ceiling updates and remarks from Fed’s Powell
- Biden said he is optimistic on making debt ceiling progress; McCarthy described the meeting as a productive discussion
- DXY is underpinned and benefitting further from EUR & GBP weakness post-PMIs while the...