09 Dec 2022, 11:20 by Newsquawk Desk
- Equities in Europe trade with no firm direction in what has been a quiet morning session thus far in holiday-thinned volumes
- DXY managed to derive some support after losing 104.50 in early trade, with peers generally contained though JPY & CHF 'outperform'
- EGBs and USTs continue to diverge, but overall action has been limited given a lack of drivers and thin volumes.
- WTI Jan and Brent Feb remain firmer intraday but in the grander scheme...
09 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly higher as the region took impetus from the gains on Wall Street; Hang Seng and Shanghai Comp were indecisive
- US equity futures held on to the prior day's gains but lacked any significant follow-through during Asia hours
- DXY continued to weaken after retreating beneath the 105.00 level yesterday, G10s were firmer against the USD, and USD/JPY fell below 136.00
- US Treasury Secretary Yellen said dollar movements largely...
08 Dec 2022, 11:16 by Newsquawk Desk
- European bourses and US futures reside in narrow ranges are essentially pivoting the unchanged mark
- DXY has managed to regroup amid an initial retreat in USTs; though, the index remains around the mid-point of a 105.04-105.42 range
- EGBs & their UK counterpart have, despite initial pressure, staged a firm rally to a test/eclipse of Wednesday's peaks; USTs remain lower
- Crude benchmarks are consolidating after yesterday's mid-week pressure,...
08 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded cautiously after the lacklustre handover from Wall St where the major indices were subdued; Hong Kong outperformed
- European and US equity futures lacked firm direction despite an earlier approach towards the prior day's lows
- DXY was marginally higher overnight, G10s were mostly lower, and the JPY lagged
- US Energy Envoy Hochstein said the US still needs to replenish the SPR for the...
07 Dec 2022, 11:15 by Newsquawk Desk
- European bourses are somewhat mixed after a predominantly soft cash open, Euro Stoxx 50 -0.5%; though, the breadth of the market remains narrow.
- Stateside, futures are in relative proximity to the unchanged mark and are yet to meaningfully deviate from overnight ranges, ES -0.2%
- USD is mixed vs G10 peers, though the DXY itself, while negative on the session, remains underpinned around 105.50.
- Crude benchmarks are softer intraday given the...
07 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly lower following the tech-led rout seen on Wall Street which saw the NDX close with losses of 2%
- DXY was steady and held on to most of the prior day’s gain, USD/JPY was underpinned, Antipodeans attempted to nurse losses
- China will fine-tune COVID control measures and allow home quarantine, as well as ease testing, according to Xinhua; China will conduct a press conference at 15:00 local time (07:00GMT/02:00EST)
- NBC...
06 Dec 2022, 11:10 by Newsquawk Desk
- Choppy session thus far across equities as the region looks for direction, ES circa. 4k.
- Followed mixed APAC trade given the hawkish Wall St. handover eased on further China COVID control adjustments
- DXY briefly eclipsed Monday's best to a 105.50 peak before fading in relatively limited newsflow and as UST yields ease.
- Aussie is the modest outperformer following a 25bp RBA hike and guidance for further inflation-justified...
06 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks were somewhat mixed with early headwinds from Wall St where risk assets were pressured as bond yields and the Dollar gained
- DXY remained above the 105.00 level, USD/JPY extended on gains with a brief foray above 137.00, and Yuan pared back some recent gains
- RBA hiked its Cash Rate by 25bps and signalled further rate hikes ahead which prompted an adjustment in CBA's forecast for the terminal rate to 3.35% from 3.10%
- Beijing city...
05 Dec 2022, 11:15 by Newsquawk Desk
- European bourses are under modest pressure, Euro Stoxx 50 -0.2%, with US futures in-fitting
- Following fairly contained APAC action though Chinese stocks outperformed amid a further easing of COVID controls
- Crude benchmarks have been choppy, but are ultimately firmer post-OPEC+ and as the Russian oil cap comes into effect at USD 60/bbl.
- DXY bid with the Yuan and AUD outperforming while JPY is the standout laggard
- EGBs...
05 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly positively, although the gains for the rest of the region were limited; China outperformed
- Several Chinese cities accelerated the loosening of COVID-19 restrictions over the weekend including Shanghai and Shenzhen
- OPEC+ ministers formally endorsed the output policy rollover and will hold the next JMMC meeting on February 1st, while it vowed to stand ready to adjust oil output to stabilise markets
- Russian Deputy PM...
02 Dec 2022, 11:15 by Newsquawk Desk
- Equities in Europe are mostly mildly softer with the ranges particularly narrow ahead of the US jobs report; US futures in-fitting
- DXY is under pressure with peers modestly firmer and JPY outpacing given yield differentials and Tamura's remarks
- Bunds are modest bid but failed to breach 143.00 with USTs essentially unchanged pre-NFP
- Crude benchmarks similarly contained awaiting oil cap/OPEC+ developments
- Beijing City...
02 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks were subdued following the uninspired lead from the US ahead of the looming NFP jobs report.
- European equity futures were slightly lower with the Euro Stoxx 50 future down 0.2% after the cash market closed with gains of 0.5% yesterday.
- DXY remains sub 105, EUR/USD breached 1.05 to the upside, GBP narrowly lags G10 FX, NZD is the modest outperformer.
- EU officials are to resume discussions to break the deadlock on a price cap for...
01 Dec 2022, 11:25 by Newsquawk Desk
- European bourses have benefited from the post-Powell surge, US futures more contained pre-data
- Additional support derived in APAC hours from China's PMIs and COVID adjustments
- DXY remains downbeat given the dovish Powell reaction, JPY is the standout beneficiary given rate differentials
- EGBs are bid with pricing for December's ECB tilting towards 50bp given the magnitude of overnight price action, Lane speaks...
01 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks took impetus from the strong rally on Wall Street (SPX +3.06%, NDX +4.58%) after Fed Chair Powell’s speech.
- Fed Chair Powell said it makes sense to moderate the pace of interest rate hikes, adding he does not want to over-tighten but cutting rates is not something to do soon.
- Chinese Vice Premier Chunlan noted that the country’s fight against COVID is entering a new phase, while Caixin Manufacturing PMI topped...
30 Nov 2022, 11:25 by Newsquawk Desk
- European equities trade on a firmer footing following mixed leads from Wall St, with eyes set on Fed Chair Powell
- DXY under pressure after failing to surpass 107.00 overnight, Cable above 1.20 with antipodeans leading
- Yuan, base metals and COVID-sensitive areas supported following the latest China testing/restriction alterations
- Core bonds dented as core EZ inflation fails to decline, USTs directionally in-fitting but little changed overall...
30 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks eventually traded mostly higher although gains were capped following the subdued handover from Wall St and disappointing Chinese PMI data.
- European equity futures were positive with the Euro Stoxx 50 future up 0.5% after the cash market closed flat yesterday.
- DXY ran out of steam ahead of 107, EUR/USD and Cable reside on 1.03 and 1.19 handles respectively, NZD outperforms.
- OPEC+ is likely to keep output levels flat at the Sunday...
29 Nov 2022, 11:20 by Newsquawk Desk
- European bourses trade mixed after the initial China-led optimism petered out in early European hours, Euro Stoxx 50 +0.2%.
- US futures are supported but off best levels ahead of Powell on Wednesday and data points thereafter, ES +0.3%
- USD remains underpinned above 106.00 after Monday’s Fed speak, but is softer overall with antipodeans leading
- Crude benchmarks are bid on speculation around China’s COVID controls easing, with participants also...
29 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks were mostly positive with the improvement in risk appetite spurred after China protests were clamped down on by police.
- Fed's Bullard said markets are underpricing the risk that the Fed may be more aggressive, Williams sees a somewhat higher rate path in 2023 vs the September SEPs.
- European equity futures were slightly positive with the Euro Stoxx 50 future up 0.1% after the cash market closed down by 0.6% yesterday.
- DXY...
28 Nov 2022, 11:20 by Newsquawk Desk
- Cash bourses in Europe hold the downside bias seen across APAC stocks overnight which emanated from China reporting a record increase in COVID cases
- Stateside, futures are under similar pressure with the ES below 4000
- USD is under pressure as the risk tone favours JPY & others, alongside month-end models pointing to USD selling
- Initial haven bid in EGBs has faded ahead of Central Bank speak incl. President...
28 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly lower with risk appetite sapped by the ongoing COVID-related issues in China which has resulted in public unrest.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.6% after cash markets closed flat on Friday.
- DXY remains stuck on a 106 handle, EUR/USD lingers around 1.0350, JPY outperforms G10 FX, antipodeans lag.
- Crude declined with Brent beneath USD 82/bbl for the first time...
25 Nov 2022, 11:10 by Newsquawk Desk
- European bourses and US futures are near the unchanged mark with newsflow limited in holiday-sapped trade
- DXY has experienced a resurgence to 106+ parameters, aided by the PBoC cutting the RRR as touted
- Core fixed is under pressure with Bund’s below yesterday’s trough though holding onto the 141.00 mark; USTs in-fitting directionally
- Crude benchmarks have been grinding higher despite the USD pickup and further China COVID controls, oil price...
25 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mixed with price action mostly rangebound amid a lack of notable newsflow and Wall St. trade.
- European equity futures were uneventful with the Euro Stoxx 50 future -0.1% after cash market closed up by 0.4% yesterday.
- DXY remains on a 105 handle, EUR/USD holds on to 1.04 status, G10 FX is overall relatively contained.
- Crude was marginally higher as top OPEC producers reaffirmed sticking to the OPEC+...
24 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks followed suit to the gains on Wall St with risk sentiment underpinned following the FOMC Minutes which supported the view for the Fed to shift to smaller rate hike increments.
- China reported daily new COVID-19 cases in the mainland reached a record high and ordered a lockdown in Zhengzhou following violent protests.
- European equity futures are essentially unchanged in thin trade ahead of numerous Central Bank speakers.
- DXY is on...
23 Nov 2022, 11:40 by Newsquawk Desk
- European bourses are flat/mixed and have struggled for direction all morning despite fleeting hawkish reactions to the region's PMIs
- Stateside, action is similarly ahead of a somewhat busier data docket on the last full session before Thanksgiving
- DXY reclaims but struggles to advance on 107.00 while Kiwi flies post 75bp RBNZ hike, GBP bolstered by PMIs & a court ruling
- Gilts outperform ahead of supply and BoE's Pill while core EGBs are...
23 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks took impetus from the positive handover from Wall St where sentiment was underpinned amid a global risk revival.
- European equity futures were modestly higher with the Euro Stoxx 50 future +0.3% after cash markets closed up by 0.5% yesterday.
- DXY trades flat just above the 107 mark, EUR/USD is back on a 1.03 handle, NZD is firmer post-RBNZ.
- The RBNZ delivered a historic 75bps rate hike and raised its peak OCR forecasts to 5.50%...