09 Jan 2023, 06:50 by Newsquawk Desk
- APAC stocks gained with the MSCI Asia Pacific index on course to enter a bull market as the region took impetus from last Friday’s rally on Wall St.
- European equity futures are indicative of a firmer open with the Euro Stoxx 50 +0.8% after the cash market closed up 1.5% on Friday.
- DXY remains on a 103 handle, EUR/USD extended advances above 1.06 and USD/JPY retreated below 132. Antipodeans lead the majors.
- Crude futures were underpinned...
06 Jan 2023, 11:35 by Newsquawk Desk
- European bourses are little changed overall but do feature a slim positive skew, Euro Stoxx 50 +0.1%, pre-NFP; US futures similarly contained
- DXY maintains its recovery momentum ahead of the US agenda with the index up to a 105.52 peak at best, with JPY taking the brunt of this.
- EGBs experienced modest but ultimately fleeting downside in wake of hot core/super-core EZ inflation, though the benchmarks are little changed overall pre-NFP
- Crude...
06 Jan 2023, 06:50 by Newsquawk Desk
- APAC stocks traded with cautious gains despite a negative lead from Wall Street, and ahead of the US labour market data
- DXY traded within a tight pre-NFP range just above the 105.00 level after notching a 103.98-105.27 parameter yesterday
- China could ease "three red lines" property rules in a major shift, according to Bloomberg sources
- US House voted to adjourn until noon Friday after failing to elect a House Speaker; a source close to...
05 Jan 2023, 11:40 by Newsquawk Desk
- European bourses are mixed but with a slight negative bias, Euro Stoxx 50 -0.2%, following a similar APAC handover ahead of US data with US futures little changed.
- Dollar mixed awaiting busy pm agenda on the eve of NFP and after choppy moves post-FOMC minutes with peers mixed vs USD.
- Currently, Bund, USTs and Gilts are within touching distance of the unchanged mark, with yields diverging slightly between EGBs and USTs.
- Little reaction to the...
05 Jan 2023, 06:50 by Newsquawk Desk
- APAC stocks traded positively throughout most of the session but bourses later drifted off best levels; the US closed in the green after some FOMC-related volatility
- FOMC December minutes highlighted how no Fed official sees a rate cut in 2023 albeit there was no discussion about the magnitude of the hike in February
- DXY was choppy and briefly dipped under 104.00 to a session low of 103.98 before reversing to print an overnight peak; JPY outperformed among G10s and...
04 Jan 2023, 11:35 by Newsquawk Desk
- European bourses have extended on Tuesday's upside, Euro Stoxx 50 +1.6%, with soft inflation data out of France adding to the week's dovish impulses.
- Stateside, futures are supported though to a lesser extent than European peers, ES +0.4%, as the region awaits key data points and the ES remains sub-3900.
- DXY has retreated with AUD outperforming while EUR remains supported on PMIs and the USD despite dovish inflation data.
- Bonds boosted once...
04 Jan 2023, 06:50 by Newsquawk Desk
- APAC stocks traded mostly firmer despite the negative handover from Wall Street; Hang Seng outperformed whilst Nikkei lagged.
- European equity futures held onto modest gains with the Euro Stoxx 50 future +0.3% after the cash market closed +0.7% yesterday.
- DXY pulled back to levels under 104.50 after, technicians also eye a potential “death cross” in the index.
- US House is adjourned until 12:00EST (17:00GMT) on Wednesday after three failed...
03 Jan 2023, 11:30 by Newsquawk Desk
- European bourses are firmer across the board, Euro Stoxx 50 +1.4%, as the region's strong start to 2023 continues despite soft Chinese NBS PMIs
- Stateside, futures are supported with the ES back above 3900 ahead of the week's risk events from Wednesday onwards.
- Dollar erases and reverses losses on positional, fundamental and technical grounds with EUR deflated by sub-consensus German state CPIs
- Fixed income boosted by the German inflation...
23 Dec 2022, 11:10 by Newsquawk Desk
- European bourses are marginally firmer, Euro Stoxx 50 +0.2%, with the Stoxx 600 on track to end the week with upside of circa. 0.6%.
- Stateside, futures are similarly supported, ES +0.3%, though we await US monthly PCE metrics for another factor into the Fed's deliberations.
- Dollar has waned with peers taking advantage with debt continuing to decline and curves re-steepening
- Crude benchmarks are firmer and eclipsing other assets following the...
23 Dec 2022, 06:48 by Newsquawk Desk
- APAC stocks traded mostly lower but drifted off worst levels following a similar performance stateside
- DXY fluctuated within a tight range in which it briefly topped 104.50 before drifting to a fresh session low; JPY lagged
- Japanese Core CPI for November rose at the fastest annual pace since 1981
- Tesla (TSLA) CEO Musk said he will not sell any more Tesla stock for at least 18-24 months; waiting to see the extent of a recession before share...
22 Dec 2022, 11:10 by Newsquawk Desk
- European bourses & US futures are steady near the unchanged mark within relatively narrow ranges in limited newsflow
- Crude has clawed out incremental WTD peaks, given the softer USD and latest China-COVID reports
- DXY remains in proximity to 104.00, though was pushed modestly below the figure to the benefit of peers ex-GBP
- EGBs lost initial recovery momentum with drivers limited while USTs retain a positive...
22 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded with gains across the board following the positive lead from Wall Street
- Chinese property names led the gains after China unveiled further support measures for the sector
- US and European equity futures resumed trade with modest gains, but price action is somewhat contained in the pre-Christmas lull
- DXY trundled lower throughout the session as it breached 104.00 to the downside before matching yesterday's 103.85 low; Aussie...
21 Dec 2022, 11:15 by Newsquawk Desk
- European bourses have eked out a marginal extension of their initial upside, Euro Stoxx 50 +0.9%, with both newsflow and the schedule ahead sparse.
- ES +0.6%; post-earnings NKE +12.5% & FDX +4.8%
- DXY has managed to attain an incremental foothold at 104.00, with peers ex-NZD generally contained in tight ranges.
- An early recovery bounce has seemingly run out of steam ahead of US 20yr supply, with Bunds and Gilts fading from respective...
21 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks eventually traded mixed following a mostly positive lead from Wall Street and with news flow on the quieter side
- DXY traded on a firmer footing and reclaimed a 104.00 handle from a 103.91 low, USD/JPY trimmed recent losses and NZD lagged among G10s
- 10yr UST and Bund futures were subdued overnight, whilst Japan's 2yr yield rose above 0% for the first time since 2015
- China will no longer take measures to isolate people from...
20 Dec 2022, 11:35 by Newsquawk Desk
- European bourses are under modest pressure, Euro Stoxx 50 -0.3%, as the complex lifts off post-BoJ lows in limited newsflow.
- JPY is the standout outperformer after the BoJ widened the 10yr yield band, sending USD/JPY to a test of 132.00 vs 137.00+ initial levels.
- DXY has been pushed below 104.00 to the modest benefit of G10 peers across the board; though, JPY-cross action is limiting this.
- Core debt has bounced from worst levels, though...
20 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded lower across the board with the broader risk profile hit by the BoJ's unexpected tweak to its Yield Curve Control
- BoJ tweaked YCC in which it widened the 10yr yield band to +/- 0.5% (prev. +/-0.25%) and unexpectedly announced it is to increase bond purchases to JPY 9tln/m (prev. JPY 7.3tln/m) in Q1; Kuroda presser due at 06:30GMT/01:30EST
- JPY soared on the BoJ decision to tweak its YCC, with USD/JPY slumping from levels around 137.00 to lows below...
19 Dec 2022, 11:40 by Newsquawk Desk
- European bourses have commenced the week on a firmer footing, Euro Stoxx 50 +0.7%, shaking off the softer APAC handover amid two-way COVID updates.
- Stateside, futures are similarly supported, ES +0.4%, in tandem with the European tone ahead of a sparse US docket
- USD has faded despite hawkish weekend Fed rhetoric, with the DXY nearer the lower-end of 104.12-83 parameters amid marked initial JPY strength
- Bunds are facing modest pressure,...
19 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks eventually traded lower across the board following the downbeat performance on Wall Street on Friday
- DXY was softer and briefly dipped under 104.50, USD/JPY gapped lower amid weekend source reports, and EUR underperformed
- Japan's government is set to revise a 10-year-old joint statement with the BoJ that commits the central bank to achieve its 2% inflation "at the earliest date possible", although this was downplayed by the Japanese Chief Cabinet...
16 Dec 2022, 11:25 by Newsquawk Desk
- European bourses remain on a downward trajectory as the post-ECB slump continues with US futures similarly afflicted
- DXY has whipsawed within a 104.20-73 range, well within yesterday's bands, though an overall underlying USD bid has emerged
- EGBs continue to slide. With Bunds lower by over 150 ticks and the associated 10yr yield above 2.2% post-ECB.
- Crude benchmarks have succumbed to the above price action but remain someway above the...
16 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks were pressured on spillover selling from global counterparts following the slew of central bank rate hikes.
- European equity futures are marginally higher with the Euro Stoxx 50 future up 0.2% after the cash market closed with losses of 3.5% yesterday.
- DXY is a touch softer but on a 104 handle, JPY leads G10 FX, EUR/USD sits on a 1.06 handle, Cable lingers around 1.22.
- ECB President Lagarde reportedly offered policymakers...
15 Dec 2022, 11:25 by Newsquawk Desk
- European bourses and US futures are under pressure, seemingly in a second wave of the post-FOMC price action.
- USD has continued to climb throughout the morning, DXY above 104.40 at best with peers dented across the board
- SNB & Norges Bank were essentially in-line with expectations, hiking by 50bp & 25bp respectively.
- Gilts continue to outperform and leading a relative 'revival' in the debt space, though USTs and Bunds are yet to make...
15 Dec 2022, 06:50 by Newsquawk Desk
- The Fed delivered a widely expected 50bps rate hike and provided hawkish revisions to the dot plots.
- US stocks ultimately finished lower with the S&P 500 back below 4K, APAC stocks were subdued overnight.
- European equity futures were mildly lower with the Euro Stoxx 50 future down 0.4% after the cash market closed with losses of 0.3% yesterday.
- DXY was firmer overnight but sub-104 after swinging between gains and losses in the...
14 Dec 2022, 11:35 by Newsquawk Desk
- European bourses are under pressure across the board, Euro Stoxx 50 -0.7%, as the CPI-induced upside wanes ahead of the FOMC & Powell thereafter
- USD has continued to slip with the index down to 103.66 at worst, nearing Tuesday's 103.57 trough to the benefit of most G10 peers.
- JPY outperforms with USD/JPY dropping below 135.00 to a 134.61 low in wake of BoJ sources
- Bunds under marked pressure given a sizeable 2023 issuance remit and...
14 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks took impetus from the gains across global peers following the softer-than-expected US CPI (SPX +0.73%, NDX +1.1%).
- European equity futures were steady with the Euro Stoxx 50 future up 0.1% after the cash market closed with gains of 1.7% yesterday.
- DXY remains lacklustre and lingers just above the 104 mark, EUR/USD and USD/JPY sit on 1.06 and 135 handles respectively.
- US Congressional negotiators said they reached a deal...
13 Dec 2022, 11:35 by Newsquawk Desk
- European bourses are firmer across the board Euro Stoxx 50 +0.8%, though action has been choppy with fresh drivers limited.
- US futures are similarly bid, though comparably more contained ahead of CPI and 30yr supply
- DXY is bid, but has been unable to convincingly breach the 105.00 mark despite a brief foray to 105.09, with peers generally contained vs USD.
- EGBs have been pressured throughout the morning, with Bunds initially lagging though...