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  • Asia-Pac equity markets followed suit from the lacklustre performance in the US
  • Sentiment stateside was subdued on return from Labor Day with weakness seen in cyclicals
  • In FX, the DXY sits above 92.50, EUR/USD and GBP/USD trade on 1.18 and 1.37 handles respectively
  • US Democrat Senator Manchin privately warned he would only support as little as USD 1.0tln of Biden's spending plans
  • Looking ahead, highlights include EIA...
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  • Bourses in Europe have retained the uninspiring price action seen at the cash open (Euro Stoxx 50 -0.1%; Stoxx 600 -0.1%)
  • In FX, DXY remains on the front foot to the detriment of G10 peers; USD/JPY eyes 110.00 to the upside while GBP/USD probes 1.3800
  • Crude prices have extended their declines as US player enter the fray from the long weekend; WTI futures did not settle yesterday
  • The RBA announced it is to proceed with tapering whilst also...
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  • Asia-Pac stocks traded cautiously as the region struggled for direction post-US market closures
  • The RBA announced it is to proceed with tapering whilst also extending the period to at least February from mid-November
  • Chinese trade data topped estimates in USD terms with a 25.6% Y/Y jump in exports
  • The Nikkei 225 briefly reclaimed 30k to the upside amid the upcoming leadership transition
  • The DXY is contained in the...
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  • Asia-Pac stocks were mostly positive but with gains somewhat limited post-NFP
  • Nikkei 225 (+1.8%) continued the outperformance that was spurred by the approaching leadership change in Japan
  • US equity futures were contained amid the Labor Day holiday
  • In FX, the DXY has attempted to claw back recent losses. EUR/USD has been unable to hold onto 1.19 status
  • UK PM Johnson is facing a tough battle to persuade the...
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  • European bourses are contained but with a negative bias while US futures have a slight positive bias, ES +0.2%
  • Both Caixin Services and Composite PMIs fell into contractionary territory
  • FX space is very contained with antipodeans modestly outperforming once again while USD/JPY rose above 110.00 briefly amid political updates
  • Japanese PM Suga will not run in the LDP leadership race and is set to step down as...
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  • Asia-Pac bourses showed a positive bias after further disappointing PMIs from China only partially offset the tailwinds from the US
  • Yesterday, the S&P 500 and Nasdaq Comp registered fresh all-time highs
  • Both Caixin Services and Composite PMIs fell into contractionary territory
  • Japanese PM Suga will not run in the LDP leadership race and is set to step down as PM
  • In FX, the DXY remains subdued, Antipodeans...
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  • European bourses/US futures are modestly firmer in quiet and rangebound trade before today's US data; ES +0.2%
  • FX sees the DXY lower but still above Wednesday's trough with peers, ex-CHF/JPY, firmer
  • WTI & Brent have recovered from yesterday's downside and the benchmarks are modestly firmer post-OPEC
  • Looking ahead, highlights include US Challenger Layoffs, IJC, Canadian Trade Balance, Factory Orders, Fed's...
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  • Asian equity markets took their cues from a similar indecisive performance stateside
  • Price action in the FX space is contained as DXY oscillates around the 92.50 mark
  • Post-tropical storm Ida continued to cause havoc stateside with NYC declaring a state of emergency
  • WTI crude futures are slightly lower after OPEC+ agreed to stick to the existing policy of gradual oil output hikes
  • Looking ahead, highlights include...
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  • European bourses/US futures are firmer but off highs after a cautious APAC handover following Chinese PMIs and before Tier 1 US data; ES +0.3%
  • Chinese Caixin PMI slipped into contractionary territory for the first time since April last year
  • The morning's OPEC related sources indicate that they will continue with current policy i.e. +400k BPD
  • DXY is downbeat with peers mixed as USD/JPY rises with UST yields, though these are off best...
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  • Asian stocks traded cautiously after further disappointing Chinese PMI data and a soft handover from the US
  • That said, losses on Wall Street were marginal and all major indices registered a seventh consecutive monthly gain for August
  • Chinese Caixin PMI slipped into contractionary territory for the first time since April last year
  • In FX, the DXY has pared some of its recent losses, EUR/USD has lost 1.18 status, havens...
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  • European bourses are firmer though are off post-EZ CPI highs, Euro Stoxx 50 +0.4%; US futures have pared overnight gains, ES +0.1%
  • Chinese Manufacturing PMI missed estimates, while Non-Manufacturing and Composite PMI both showed a contraction for the first time in 16 months
  • The DXY remains downbeat with peers bid across the board but NZD the main beneficiary taking impetus from AUD/NZD action
  • Core debt is depressed with pressure exacerbated...
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  • The S&P 500 and Nasdaq extended on record highs led by growth and tech
  • Asian equity markets traded cautiously as participants digested disappointing Chinese PMI data
  • Chinese Manufacturing PMI missed estimates, while Non-Manufacturing and Composite PMI both showed a contraction for the first time in 16 months
  • The DXY remains subdued just above 92.50, EUR/USD has traded on either side of 1.18, NZD outperforms after reclaiming...
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  • European equity bourses and US futures are modestly firmer but near unchanged levels in minimal newsflow; ES +0.1%, RTY +0.3%
  • USD is bid but the index remains sub-93.00 as antipodeans and CHF take the brunt of the downside while core debt is marginally firmer
  • China has unveiled new restrictions on young people playing online games, Xinhua; separately, China is said to ask brokers to increase supervision of margin trading
  • Oil producers in the...
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  • Asia-Pac stocks were mostly positive with the region mildly taking impetus from last Friday's gains on Wall St
  • The S&P 500 and Nasdaq extended on record highs post-Powell
  • In FX, the DXY remains softer and sub-93.00, EUR/USD has reclaimed 1.18 status
  • The SPD has continued to make further gains in the latest polling data with Scholz coming out on top in the latest debate
  • Oil producers in the Gulf of Mexico shut in...
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  • European bourses are little changed while US futures have a marginal upward bias in limited newsflow pre-Powell
  • Fed speak via just Bostic thus far, who stuck to his familiar 'hawkish' language around a taper
  • The DXY straddles 93.00 and is marginally softer with peers contained; core debt is slightly softer but well within proximity to the U/C mark
  • Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard...
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  • Asia-Pac bourses traded mixed although have shown an improvement compared to the losses in global counterparts
  • Losses in the US came in the context of recent hawkish Fed rhetoric ahead of Powell and events in Afghanistan
  • The DXY straddled 93.00 amid a non-committal tone and contained price action in the FX space
  • Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard could be appointed as...
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  • European bourses are softer across the board with US futures also pressured albeit to a lesser extent, ES -0.1%
  • DXY is firmer but capped by 93.00 with peers subdued across the board while debt continues to pullback but has stabilised slightly most recently
  • Fresh newsflow has been sparse and largely on geopols/COVID-19 boosters and as such not moving the macro dial
  • The BoK became the first major Asian central bank to hike rates since the...
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  • Asia-Pac stocks traded cautiously amid a deluge of earnings releases and as markets await Jackson Hole
  • US equity futures trickled lower overnight following another consecutive day of record highs on Wall St
  • The BoK became the first major Asian central bank to hike rates since the pandemic began
  • In FX, the DXY remains lacklustre beneath 93.00, EUR/USD and GBP/USD remain steady on 1.17 and 1.37 handles...
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  • European equity bourses/US futures are essentially unchanged amid minimal newsflow in the European morning; ES +0.1%
  • The DXY has been choppy within ranges and currently sub-93.00 with peers mixed but near-unchanged; debt is downbeat after earlier upside fizzled out in EGBs
  • US VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullying
  • The House voted to approve the USD 3.5tln budget blueprint and advance...
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  • Asian stocks traded somewhat mixed and failed to fully sustain the early momentum from the US
  • The S&P 500 and Nasdaq extended on record highs amid notable strength in cyclicals
  • US VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullying
  • The House voted to approve the USD 3.5tln budget blueprint and advance the USD 1tln infrastructure bill
  • The DXY heads into the European...
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  • US equity futures are firmer off-best levels, with NQ modestly outperforming while European bourses are mixed/lower after a firmer start
  • In FX, the DXY trades above 93.000, EUR/USD encountered resistance ahead of 1.1750 while Cable briefly lost 1.37 and antipodeans outperform
  • RBNZ's Hawkesby said the RBNZ considered raising the OCR by 50bps at the recent meeting; decided to hold rates due to a communications challenge not economic risks.
  • US...
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  • Asia-Pac stocks sustained the momentum from Wall St; US equity futures traded sideways overnight
  • In FX, the DXY traded on either side of 93.000, EUR/USD encountered resistance ahead of 1.1750, and antipodeans outperformed
  • Chinese President Xi Jinping may not attend the G20 summit in Rome at the end of October which would delay a potential meeting with President Biden
  • US VP Harris said China's actions in the South China Sea continue to...
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  • European bourses are firmer but off-highs, Euro Stoxx 50 +0.3%; US futures have been steady and contained with the RTY outperforming
  • DXY is pressured as activity-FX rebounds from last week's declines, whilst havens lag
  • Flash PMIs were mixed but overall below forecasts - reactions were minimal
  • The Fed’s Jackson Hole Symposium is shifting to a virtual event from the initial in-person format; schedule release August 26th at...
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  • Asia-Pac bourses were firmer throughout the night; US equity futures also drifted higher
  • In FX, the DXY marginally pulled back from recent gains, high-betas outperformed, and havens lagged
  • The Fed’s Jackson Hole Symposium is shifting to a virtual event from the initial in-person format
  • Fed's Kaplan (2023 voter) stated if they saw that the Delta variant would be persistent or start to affect demand, they would have to adjust...
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  • Risk sentiment is slightly softer but performance overall is contained, ES -0.2%, amid limited newsflow
  • DXY is firmer and remains above 93.50, with activity currencies lagging and safe-havens marginally positive once again
  • China's legislature passed the Personal Information Protection Law
  • Fed Chair Powell is to speak on 'The Economic Outlook' at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT
  • Looking...
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