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...
26 Jun 2023, 11:10 by Newsquawk Desk
- European bourses trade on the backfoot following on from the soft close in the US on Friday with losses having picked up since the cash open.
- DXY is caged to a tight range on either side of 102.75, EUR looks heavy after bleak German Ifo data, and Yen is among the outperformers.
- Safe havens are bid across the board, with bonds, precious metals, JPY and CHF on firmer.
- German Ifo Economist said the likelihood that the German economy will shrink...
26 Jun 2023, 06:24 by Newsquawk Desk
- APAC stocks traded mostly subdued after Friday's losses on Wall St with weekend newsflow dominated by the brief uprising of the Wagner Group in Russia.
- Wagner Group chief Prigozhin accepted a proposal by Belarusian President Lukashenko to stop the movement of his troops to Moscow.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.2% after the cash market closed down 0.8% on Friday.
- In FX, DXY is...
23 Jun 2023, 11:25 by Newsquawk Desk
- European bourses trade on the backfoot with sentiment in the region subdued after the Flash PMIs sounded recessionary warnings.
- US equity futures are also lower on the session with the ES briefly dipping under 4,400.
- Havens (ex-CHF) are bid on the back of the risk aversion while industrial commodities take a hit on growth concerns.
- Fed's Barkin (non-voter) said he is comfortable with more hikes if inflation is not heading to the goal but he...
23 Jun 2023, 06:24 by Newsquawk Desk
- US stocks finished mixed. Nonetheless, the S&P 500 and Nasdaq 100 snapped their recent losing streaks with outperformance in the latter
- APAC stocks failed to sustain an early positive bias and faltered following the mixed performance stateside
- European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.7% after the cash market closed down 0.4% yesterday
- DXY is firmer and back above 102.50, EUR/USD extended its...
22 Jun 2023, 11:30 by Newsquawk Desk
- European bourses trade on the backfoot with selling pressure having picked up since the cash open; Chinese markets were closed overnight.
- US equity futures are also softer on the session, albeit to a lesser extent than European peers with the ES just about holding around the 4400 mark.
- SNB’s rate hike disappointed markets but matched analyst expectations while Norges opted for a larger-than-forecast rate hike and guided another hike in...
22 Jun 2023, 06:24 by Newsquawk Desk
- Fed Chair Powell, when asked about the two hikes pencilled into the dot plot, responded "That's a pretty good guess of what will happen".
- Fed's Bostic (non-voter) said that rates should stay where they are for the rest of the year.
- APAC stocks were mostly lower following the tech-led declines on Wall St and with risk appetite also constrained by key holiday closures.
- European equity futures are indicative of a softer open with the Euro Stoxx...
21 Jun 2023, 11:30 by Newsquawk Desk
- European bourses are indecisive with the main macro story of the session thus far coming via UK inflation metrics.
- GBP only knee-jerked higher on the hotter-than-expected CPI before shedding all and more of its gains on economic implications of further BoE tightening.
- DXY is firmer pre-Powell whilst the JPY is softer following more dovish BoJ commentary.
- US Treasuries have regained composure whilst Bunds saw a full recovery and Gilts trimmed...
21 Jun 2023, 06:30 by Newsquawk Desk
- APAC stocks were mostly subdued following the negative handover from Wall St amid the lack of bullish macro drivers.
- European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.3% after the cash market closed down 0.4% yesterday.
- In FX, DXY lingers above 102.50, EUR/USD maintains 1.09 status, NZD leads the majors, JPY lags.
- 10yr UST futures marginally eased back after the prior day’s bull flattening, Crude...
20 Jun 2023, 11:30 by Newsquawk Desk
- European bourses & US futures are pressured ahead of the return of US participants and key Fed speakers
- DXY has drifted after a brief/small extension to 102.62, JPY rebounds though notes OpEx while AUD lags after RBA Minutes
- PBoC cut the LPRs as expected, though the 5yrs magnitude disappointed some expectations; Biden said relations are on the correct trail
- EGB benchmarks consolidation topped out near round figures with UTS paring losses...
20 Jun 2023, 06:25 by Newsquawk Desk
- APAC stocks were mostly lower in the absence of a lead from Wall St and as markets digested the PBoC’s cuts to its benchmark lending rates.
- As expected, China lowered its 1-year LPR after similar cuts to short-term funding rates but disappointed those anticipating a deeper 15bps cut for the 5-year LPR.
- European equity futures are indicative of a flat open with the Euro Stoxx 50 unchanged after the cash market closed down 0.7% yesterday.
- DXY...
19 Jun 2023, 06:30 by Newsquawk Desk
- APAC stocks were mostly negative following last Friday's losses on Wall St, while risk appetite was also contained as markets digested US-China talks.
- The meeting between US Secretary of State Blinken and Chinese Foreign Minister Qin was said to be candid, substantive and constructive although it lacked any breakthroughs.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.7% after the cash market closed up 0.7% on...
16 Jun 2023, 11:45 by Newsquawk Desk
- European bourses are firmer across the board and largely unphased by numerous ECB speakers
- Stateside, futures post modest gains and await the likes of Fed’s Waller and Barkin as the blackout lifts
- DXY has lifted off-lows with Yen assisting post-BoJ while EUR pivots OpEx and GBP continues to advance
- Fixed income experiences a modest and perhaps technically driven revival alongside notably less explicit Holzmann...
16 Jun 2023, 06:35 by Newsquawk Desk
- APAC stocks traded higher following the gains on Wall St where the major indices were lifted alongside a weaker dollar and softer yields.
- The BoJ refrained from any hawkish surprises and maintained its ultra-easy policy settings.
- European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.1% after the cash market closed down 0.3% yesterday.
- DXY is contained following yesterday's heavy losses, JPY is the laggard...
15 Jun 2023, 11:35 by Newsquawk Desk
- European bourses & US futures trade on the backfoot post-FOMC and pre-ECB
- DXY propped up, AUD outperforms following a strong jobs report whilst NZD lags as it enters a recession
- JPY majorly lags on the prospect of even wider BoJ-Fed divergence ahead of Friday’s meeting
- Core benchmarks slip and extend on post-Fed declines whilst European supply was well received
- Base/industrial metals dented on softer Chinese...