• Asian equities traded with no firm direction after an upbeat performance on Wall Street, ahead of NFP
  • SCMP Editorial piece stated, "Beijing is in no hurry to forge a deal” with the US
  • EU’s Brexit Negotiator Barnier told a private meeting of EU diplomats that UK PM Johnson’s proposals fell far short of his conditions for a deal, sources stated
  • In FX, the DXY is flat, EUR and GBP moved in-step with the Dollar, Antipodeans outperformed
  • Looking ahead, highlights include US NFP and Trade, Baker...
  • US equity futures are modestly firmer, in a bounce-back from the WTO announcement; note, Germany is closed
  • USTR are to impose 10% tariffs on EU aircraft and 25% on agricultural and industrial goods
  • Fed’s Evans says the ISM-Manufacturing print confirmed the FOMC’s view and is open-minded for the next meeting
  • ·Fixed is firmer as growth concerns grow while DXY remains around 99.0 and somewhat mixed vs. G10 counterparts
  • Looking ahead highlights include US Services and Composite PMIs, US Initial...
  • Asian equities joined the global stock rout, Mainland China and South Korean markets were closed due to public holidays
  • Hong Kong is reportedly studying a curfew to contain protest violence, according to local press
  • US will impose retaliatory tariffs of 10% on EU aircrafts, 25% on EU agriculture and industrial goods, effective October 18th
  • EU is ready to grant another Article 50 extension even if the letter is not signed by UK PM Johnson, diplomats stated that no European leader has reached the...
  • European equities are lower as sentiment remains subdued from yesterdays events and ahead of today’s risk catalysts
  • WTO are to announce the decision on the US' right to retaliate to against the EU over their Airbus (AIR FP) subsidies at 15.00 BST
  • EU Sources note UK proposals on Brexit as reported by the media "won't fly" and seem "fundamentally floored"
  • In FX, DXY has regained ground against most G10 peers while the debt complex has been...
  • Asian equity markets were negative and followed the lead from Wall Street, ASX 200 underperformed, Mainland China and Indian markets were shut
  • North Korea fired short-ranged projectiles towards the East Sea, one missile reportedly landed inside Japan’s Exclusive Economic Zone (EEZ)
  • UK PM Johnson will today unveil a new ‘two borders for four years’ Brexit plan which will leave Northern Ireland in a special relationship with Europe until 2025
  • Irish Foreign Minister Coveney said the UK PM’s Brexit plan...
  • European equities are subdued this morning in-spite of a firmer open on a strong Asia-Pac lead
  • Fed's Evans (Voter, Dove) says after the rate cuts, the Fed should leave policy on hold for some time, says there is a limit to what Monetary Policy can achieve
  • In Hong Kong a protestor has reportedly been shot in the chest as the situation continues to escalate
  • PM Johnson says we are going to make a very good offer but are not going to produce the proposals now that will be made in Brussels
  • RBA...
  • Asian equities traded higher across the board, Chinese and Hong Kong markets were closed due to National Day holiday
  • The RBA cut its cash rate by 25bps to 0.75% as expected, reaffirmed easing bias, but added that a gentle turning point appears to have been reached
  • UK PM Johnson is said to release his final Brexit plan to EU leaders within 24 hours and will reportedly ask the EU to rule out further Brexit extensions as part of a new deal
  • In FX, DXY printed fresh YTD highs, USD/JPY climbed above 108,...
  • Major European indices are modestly firmer but little changed overall, on a relatively quiet session thus far
  • USD is firmer vs. most G10 counterparts with NZD the laggard although Sterling does modestly outperform
  • US Treasury official stated that there are no current plans to stop Chinese firms from listing on US exchanges.
  • UK Opposition Leaders will be meeting today to find a way to force UK PM Johnson to ask for a Brexit extension as early as this weekend
  • Looking ahead highlights include,...
  • Asian equities showed a mixed performance, Hang Seng (+0.4%) outperformed as Budweiser APAC’s debut signalled favourable IPO conditions
  • Chinese Caixin Manufacturing topped estimates but trade concerns weighed on the one-year outlook and new export business continued to decline
  • Reports suggested that the White House is mulling limits on portfolio flows into China, however, a US Treasury official stated that there are no current plans to stop Chinese firms from listing on US exchanges
  • UK Opposition...

27th September 2019 

·        Major European indices are firmer following on from a choppy Asia-Pac session

·        FTSE 100 outperforms as Sterling slips and Gilts gain on dovish BoE Saunders

·        Saudi Arabia have reportedly agreed to a partial ceasefire in Yemen, according to the WSJ

·       ...

  • Asian equity markets were mostly subdued following the weak lead from Wall St, Australia outperformed
  • Chinese Foreign Minister said China is willing to buy more US products needed by the Chinese market, ahead of principal-level talks on October 10-11th in Washington
  • Pentagon is to send 200 troops, a missile system and radar equipment to Saudi Arabia following the attack on its oil facilities
  • In FX markets, the DXY was firmer, EUR/USD edged...

·        Major European indices are firmer from a mixed Asia-Pac session on further positive US-China remarks

·        UK PM Johnson said he will not request a Brexit extension even if conditions of the Benn bill are met, while he also stated that changing the Irish backstop is under serious negotiation

·        Chinese Commerce Ministry says US and China are closely...

  • Asian equity markets traded somewhat mixed as the region struggled to maintain the momentum from the US
  • US President Trump said China is making large agricultural purchases and there is a good chance that we'll make a trade deal with China, getting closer and closer
  • US President Trump announced the first stage of a new US-Japan trade deal
  • UK PM Johnson said he will not request a Brexit extension even if conditions of the Benn bill are met
  • ECB's Lautenschlaeger (Hawk) resigned from the ECB...
  • European indices are subdued as sentiment is impacted by a number of risk factors ahead
  • House Speaker Pelosi says the House is to open informal impeachment inquiry into President Trump
  • Saudi Aramco have reportedly restored oil production capacity to 11.3mln bpd, according to sources
  • Fixed is little changed, USD is bolstered by a softer Sterling and EUR while NZD is now unchanged following RBNZ leaving rates unchanged at 1.0%
  • Looking ahead, highlights include US New Home Sales, SNB Quarterly...
  • Asian equity markets tracked the losses seen across global peers amid headwinds from the US
  • UK government source expects a quick push for an election again perhaps even as early as this week, Cabinet source sees this being tabled on Thursday
  • China’s Foreign Minister says US-China relations have come to a crossroad, and trade negotiations cannot happen under threats
  • US House Speaker Pelosi says the House is to open a formal impeachment...
  • UK Supreme Court deem PM Johnson’s parliament suspension as unlawful, GBP and Gilt whipsawed
  • EU Court rules that Alphabet's Google (GOOG) does not have to apply the right to be forgotten globally
  • US President Trump said he will discuss Iran in his UN speech today at 10:15ET
  • Looking ahead, highlights include US Consumer Confidence, New Zealand Trade, UN General Assembly begins, ECB’s de Guindos, Norges Bank’s Matsen and BoE’s Carney. Supply from the...
  • Asian equity markets traded indecisively following a similar close on Wall St where the major indices spent the day steadily recouping the opening losses
  • US Treasury Secretary Mnuchin stated Chinese VP Liu He will visit the US next week for discussions; however, later stated talks will resume in two weeks
  • US President Trump said we will have to see what happens regarding a meeting with Iranian President Rouhani and that he will discuss Iran in his UN speech...
  • Major European bourses are softer as risk sentiment slips on PMI prints
  • China’s agricultural delegation cancelled their farm trip at the US’ request, not due to trade talk difficulty
  • Saudi Arabia's Khuraris and Abqaiaq facilities are to fully restore oil production early next week; currently producing around 4.3mln BPD., according to sources
  • However, WSJ reports indicate that some experts believe it could take 8-months to restore Saudi production
  • EUR/USD is lower and core debt has been...
  • Asian equity markets were mixed following the negative close last Friday on Wall St. amid temperamental US-China trade headlines
  • Trump reiterated he does not need a deal before the 2020 election and is not interested in a limited China deal
  • Reports suggest that repair work for Saudi to return to normal oil output levels could take much longer than expected
  • US Secretary of State Pompeo said the US is still seeking to avoid war with Iran but added that additional troops being deployed to the region...
  • European bourses are firmer this morning in largely tentative trade as markets pause after a hectic week
  • NY Fed announced a fourth consecutive overnight repo operation of USD 75bln at a minimum bid rate of 1.8% for Friday at 0815-0830 ET
  • Fed’s Bullard says he dissented as a large cut is more appropriate, cites soft PCE & signs the economy is to slow soon
  • The FX space is similarly tentative with the USD little changed vs. G10 counterparts
  • Looking ahead, highlights include Canadian Retail...
  • Asian equity markets traded mostly positively as risk appetite picked up from the indecision seen on Wall St
  • US President Trump advisor Michael Pillsbury said the President is ready to escalate the trade war if a deal is not agreed soon and that tariffs could go to 50% or 100%
  • EU Commission President Juncker said he thinks there can be a Brexit deal and that Brexit will happen
  • Saudi-led coalition conducted a military operation in Yemen in which it destroyed 4 locations used for assembling...
  • European indices are modestly firner post-Fed and as most G10 central banks have met, with BoE ahead
  • In Central Bank activity, BoJ & SNB unchanged, SNB did not alter their CHF assessment while Norges Bank hiked but likely the last hike in the near term
  • Iranian Foreign Minister Zarif threatened ‘all out war’ in the event of an Iranian military strike
  • In FX, CHF is outperforming post SNB while AUD is the laggard vs. USD after poor overnight data
  • Looking ahead, highlights include US Philly...
  • Fed cut rates by 25bps for a 2nd consecutive meeting as expected with three dissenters; Rosengren and George voted for no change again, Bullard voted for a 50bps cut
  • Dot plots showed a median view for a pause through to next year which left a hawkish aftertaste amongst US asset classes
  • BoJ maintained all policy settings as expected and forward guidance to keep current extremely low rates for extended period at least through Spring 2020
  • Brazil Central Bank cut the Selic Rate by 50bps to 5.50% as...
  • Major European bourses are trading tentatively ahead of today’s key risk events with the FOMC ahead
  • Saudi Arabia’s Defence Ministry are to update on evidence of Iranian weapon usage today (15:30BST) and IEA’s Birol is to speak on recent developments at 14:00BST
  • In FX, the USD is King thus far, mainly on the underperformance of G10 counterparts with Sterling subdued on EU comments and soft CPI
  • Looking ahead, highlights include US Building Permits, Housing Starts, Canadian CPI, New Zealand GDP, FOMC...
  • Asian equity markets traded tentatively following the cautious gains on Wall St amid positioning heading into a flurry of central bank activity
  • NY Fed are to to conduct another USD 75bln overnight repo today between 1315-1330BST at a minimum bid rate of 2.10% (unchanged from Tuesday
  • Saudi Energy Minister Abdulaziz said oil supply is fully back online and that it will keep full oil supply to its customers this month
  • Saudi Arabia’s Defence Ministry will conduct a press conference today which will...
European Equity Movers this Morning: Persimmon (PSN LN) +14.0% RBS (RBS LN) +11.0% Peugeot (UG FP) +2.6% Airbus (AI…