• Asian equity markets traded cautiously following the indecisive performance of Wall St peers as US-China trade concerns resurfaced
  • US President Trump stated he is not happy with China and that he is not interested in reopening the US-China trade deal
  • DXY extended on gains above 100.00, EUR/USD and GBP/USD briefly slipped below 1.0800 and 1.2300 respectively, AUD lags
  • Fed’s Bostic and Evans both pushed back against the idea of negative rates for the US
  • UK Brexit negotiators are to reportedly...
  • European bourses are softer in-spite of a modestly firmer open, given APAC performance, as sentiment has faded throughout a quiet session – US futures exhibiting similar pressure
  • US source familiar with recent discussions stated US officials acknowledged China was largely delivering its pledges on structural issues, reports noted that a Chinese government adviser suggested the deal itself was fragile
  • French Finance Minister said the Eurogroup have reached a deal on a EUR 240bln Treasury line for countries...
  • Asian equity markets begun the week on the front foot after last Friday’s gains on Wall St
  • US source familiar with recent discussions stated US officials acknowledged China was largely delivering its pledges on structural issues
  • US Chamber of Commerce called on China to dramatically accelerate purchases of US goods under the Phase One trade deal
  • Japan is reportedly considering lifting the state of emergency declaration in most prefectures this month
  • UK PM Johnson outlined a conditional...
  • Sentiment remains positive on trade updates in quiet markets so far ahead of NFP
  • Chinese Vice Premier Liu He, US Treasury Secretary Mnuchin and USTR Lighthizer spoke over the phone and agreed to keep communications, strengthen cooperation and vowed efforts to implement the phase 1 deal
  • Chinese Gov't Adviser, on the US-China phone call, suggested that the fact that “the dialogue has now gone straight to ministerial level may indicate the problem is quite severe, SCMP
  • France are reportedly proposing a...
  • Sentiment is bolstered on trade updates; as such, European bourses and US futures are comfortably positive with US futures outperforming
  • US and China Trade Chiefs are said to plan a phone conversation as soon as next week on progress in implementing the trade deal
  • BoE left rates at 0.1% and maintained Gilt purchases, 2 dissenters on QE who wanted an extra GBP 100bln
  • Norges Bank defied consensus, cutting rates to 0.0% & announced further F-loans; but, do not envisage making further...
  • European bourses are overall mixed in a choppy and relatively quiet session so far
  • China are reportedly considering dropping their numerical GDP growth target for 2020.
  • European Commission Spring Economic Forecasts: EZ 2020 GDP to contract 7.7% before rebounding 6.3% in 2021
  • DXY has reclaimed the 100.00 mark, touching 100.20 at best, much to the detriment of G10 peers
  • Looking ahead, highlights include US ADP & DoEs
  • Earnings from: PayPal, T-Mobile US, General Motors, Metlife,...
  • Asian equity markets traded mixed with the region lacking solid conviction after the choppy price action on Wall St
  • The DXY heads into the EU open relatively flat, EUR/USD below 1.0850 and GBP/USD below 1.2450
  • The ECB said it takes note of the German court ruling and remains fully committed to its mandate
  • UK Chancellor Sunak is to wind down the coronavirus furlough scheme amid concerns Britain is addicted to the wage subsidy
  • Looking ahead, highlights include EZ services & composite PMIs,...
  • German Constitutional Court did not find ECB's PSPP to be in violation of prohibition on monetary financing
  • Sentiment has been dented by the German Court ruling, but remains firmer following a strong APAC handover
  • However, GCC ruled that some actions are not valid in Germany relating to the proportionality of PSPP; ECB now has 3-months to demonstrate this – will meet at 17:00BST/12:00ET to discuss
  • EUR, Bunds and BTPs were the biggest losers on this; EUR weakness propelled DXY to new session high of...
  • Asian equities traded positively after taking impetus from the rebound on Wall St where major indices gradually pared initial losses
  • Senior Trump administration aides have signaled there will not be any economic punishment for China if it sticks to the trade agreement made in January
  • University of Washington Institute for Health Metrics and Evaluation (IHME) updated model predicted the number of US deaths from coronavirus could reach over 134k by August
  • In FX, the DXY was softer and traded below the...
  • President Trump said tariffs would be the ultimate punishment on China and warned that that if China doesn't buy US goods, the US will end the trade deal
  • US Secretary of State Pompeo stated that there is enormous evidence that the coronavirus outbreak originated in a laboratory in Wuhan
  • Sentiment is subdued following President Trumps remarks while European bourses catch-up from Labour Day holiday
  • US President Trump said he is not doing stimulus without a payroll tax cut
  • UK are reportedly...
  • Asian equity markets began the week mostly lower as concerns mount over US-Chinese tensions and activity at the inter-Korean border
  • US President Trump said tariffs would be the ultimate punishment on China and warned that that if China doesn't buy US goods, the US will end the trade deal
  • US Secretary of State Pompeo stated that there is enormous evidence that the coronavirus outbreak originated in a laboratory in Wuhan
  • UK is looking to relax the lockdown measures beginning May 26th, according to The...
  • European bourses are predominantly closed given Labour Day, while the FTSE 100 is down over 2% with US futures posting similar losses
  • US President Trump said the China trade deal is now secondary to what China did regarding the virus and that he has seen evidence the virus had originated from Wuhan Institute of Virology in China
  • Additionally, Trump suggested he can retaliate against China with tariffs
  • Apple beat EPS and Revenue but device breakdown missed expectations while Amazon missed EPS but...
  • The tone in Asia was subdued owing to the mass closures in the region for Labor Day and the negative handover from Wall St
  • US futures were pressured after-hours following mega-cap earnings from Amazon and Apple
  • US President Trump said that he has seen evidence the virus had originated from Wuhan Institute of Virology in China
  • UK PM Johnson said we have passed the peak, adding a comprehensive plan will be released next week on the reopening of the country
  • Looking ahead, highlights include UK...
  • European bourses are subdued after a modestly positive start; FTSE 100 & energy names after Shell cut quarterly dividend
  • US President Trump said China will do anything they can for him to lose the 2020 election and stated the US is looking at different options regarding consequences for China
  • Chinese official Manufacturing and Caixin Manufacturing PMIs fell short of estimates but Non-Manufacturing and Composite PMIs both improved
  • US President Trump said they will have a plan to support oil...
  • Asian equity markets traded positively as the region took impetus from the gains on Wall St where sentiment was underpinned by coronavirus treatment hopes
  • FOMC left rates unchanged via unanimous decision and is to continue asset purchases in amounts needed to support market functioning and policy transmission
  • Fed made no mention of forward guidance or YCC in the statement and the dollar amount of asset purchases was also withdrawn from the text
  • NIH’s Dr. Fauci said the data showed Remdesivir had a...
  • European bourses are modestly firmer after a flat/mixed open, US futures are slightly firmer than EU peers ahead of large-cap earnings, US GDP/PCE & FOMC
  • US Senate Majority Leader McConnell said he is certainly open to considering more aid for state and local governments
  • Fitch downgraded Italy by one notch to BBB-; Outlook Stable – BTP’s lag but have pulled back somewhat; BTP-Bund yield spread within recent ranges
  • FX sees the USD softer with most counterparts benefiting aside from GBP, hit via...
  • Asian equity markets were mostly higher and US equity futures also recovered from the tech-led declines on Wall St
  • Alphabet shares were seen higher by around 8% after hours post-earnings as revenues topped expectations
  • Fitch downgraded Italy by one notch to BBB-; Outlook Stable. Italy says that economic fundamentals remain solid
  • In FX markets, the DXY remained softer following the recent decline below the 100.00 level ahead of upcoming key risk events stateside
  • Looking ahead, highlights...
  • European bourses initially opened unchanged but have strengthened significantly in what has been a relatively quiet session ahead of upcoming risk events
  • Fed expanded scope and duration of municipal liquidity facility and increased the duration of eligible securities to 3 years from 2 years
  • FX sees the USD softer to the benefit of counterparts particularly JPY with USD/JPY comfortably below 107.00; while SEK strengthened post Riksbank
  • President Trump suggested the US is not happy with China and are...
  • Asian equity markets were mixed as a deluge of earnings and continued oil rout offset the momentum from Wall St.
  • The DXY was marginally firmer after support at the 100.00 level just about held but with price action limited
  • President Trump suggested the US is not happy with China and is doing a serious investigation of China's actions in response to the coronavirus outbreak
  • WTI crude futures extended on its rout with another double-digit percentage loss to briefly break below USD...
  • European bourses are stronger this morning following the APAC lead, US futures are firmer but to a lesser extent ahead of Fed and on the busiest week of earnings this quarter
  • BoJ kept NIRP at -0.1% and long term JGB yield target at around 0% but pledged to buy unlimited JGBs and increased its purchases of corporate bonds and commercial paper
  • New York Governor Cuomo said the state will follow the CDC’s recommendation to wait until hospitalization rates decline for 14 days before opening up
  • FX sees...
  • Asian equity markets were mostly positive with sentiment underpinned by optimism regarding the reopening of global economies
  • US government trial of Gilead's (GILD) Remdesivir is running ahead of schedule and results from the trial could be possible by mid-May
  • UK PM Johnson could announce plans for easing the lockdown as early as this week after returning to Downing Street
  • Italy PM Conte announced the nation is to begin lifting the lockdown from May 4th with retailers set to open on May...
  • Sentiment is divergent: bourses subdued in Europe after EU leaders meeting while US futures firm up
  • US House voted to pass the USD 484bln coronavirus package bill as expected; Trump to sign in a noon ceremony
  • EUR weakness initially boosted the USD, but the DXY has yet to eclipse early April highs at 100.94 as weakness in peers has diminished with the DXY recently turning negative on the day
  • US Treasury Secretary Mnuchin said they are mulling a lending facility for struggling oil...
  • Asian equity markets traded mostly negative following the lacklustre handover from US where major indices retraced their initial oil-inspired gains
  • The DXY was firmer overnight and back above 100.50 as the soured risk tone helped the safe-haven claw back the lost ground
  • Gilead's Remdesivir reportedly flopped in the first randomized clinical trial according to draft documents obtained by the FT
  • EU leaders talks ended with no agreement on the recovery package
  • EU Commission President Von Der...
  • European bourses are marginally softer at present, dented on abysmal PMI numbers and ahead of the EU Leaders meeting
  • EU recovery plan could trigger EUR 2tln of spending and investment, recovery find would allow Commission to raise EUR 320bln on the market
  • EU is looking to launch the recovery fund on 1st January 2021; however, Italy state they cannot wait until even June for the approval
  • Iran's Guards Chief says US ships will be destroyed if they threaten Iranian ships; crude is bolstered on the...
  • Asian equity markets mostly benefitted from the more constructive handover from Wall St where sentiment rebounded in tandem with oil prices
  • In FX, the DXY remains above 100.00, EUR/USD flat, Cable sits above 1.2350
  • The ECB announced that it will accept some junk-rated debt as collateral in a move to insulate some economies in the face of  potential credit downgrades
  • Oil prices continued to nurse recent losses in which Brent and WTI crude futures reclaimed USD 22.00/bbl and USD 15.00/bbl...
US equity futures reopen lower with both Emini S&P and Dow futures down around 0.5% after the mixed Chinese PMI fig…