04 Jan 2024, 11:25 by Newsquawk Desk
- European bourses and US Futures extend modest gains, though the Russell outperforms paring back the prior day’s hefty losses
- Dollar is softer and the Pound gains post-final PMI revisions, EUR bid on PMIs with German inflation due; Yen continues its losing streak
- Bonds weaken as attention turns to US data; hawkish reaction after Final PMI revisions
- Crude benchmarks are firmer as Middle East tensions continue alongside USD downside, XAU also...
04 Jan 2024, 06:35 by Newsquawk Desk
- US stocks again saw losses on Wednesday with the Russell 2k heavily underperforming, with two-way action seen on the release of an overall balanced FOMC minutes.
- FOMC Minutes stated that participants viewed the policy rate as likely at or near its peak. Several participants observed that circumstances might warrant keeping the policy rate at the current level longer than they currently anticipate.
- APAC stocks traded lower across the board as the risk aversion...
03 Jan 2024, 11:15 by Newsquawk Desk
- European bourses post significant losses despite limited fresh newsflow, whilst US Futures are negative albeit to a lower magnitude awaiting key US data
- Dollar is firmer and JPY continues to underperform; Antipodeans diverge as the AUD/NZD cross dips below 1.08.
- Bonds are pressured with overall specifics light as markets await key US events
- Crude continues to pullback along with Gold, suffering from recent strength in the Dollar and the...
03 Jan 2024, 06:29 by Newsquawk Desk
- APAC stocks were mostly lower as sentiment reverberated from Wall Street's downbeat performance, while Japanese markets were away on a market holiday.
- DXY held a softer bias overnight but maintained 102+ status after taking a breather from yesterday's surge from a 101.33 low to a 102.25 peak. EUR/USD rose back above 1.0950 while USD/JPY traded on either side of 142.00.
- European equity futures are indicative of a slightly lower open, with the Euro Stoxx 50 future...
02 Jan 2024, 11:20 by Newsquawk Desk
- European equities are firmer, though have significantly pared much of their initial gains; US equity futures are mixed and generally more contained.
- DXY holds onto modest gains above 101.50, JPY lags
- Fixed benchmarks hold onto a negative bias ahead of a busy slate throughout the week
- Crude soars amid geopolitical tensions; Gold also gains whilst base metals are mixed
- Israel says it will pull out thousands of troops...
22 Dec 2023, 10:55 by Newsquawk Desk
- European bourses are mixed whilst US futures are entirely in the red; Nike (-12.2%) shares slump in the pre-market
- Dollar remains sub-102, GBP firmer post Retail Sales and Antipodeans softer
- Fixed benchmarks are around unchanged and Gilts are muted as Retail Sales strength is offset by GDP revisions
- Crude and Spot Gold benefit from broader weakness in the Dollar whilst Base Metals are mixed
- Looking ahead, US Personal...
22 Dec 2023, 06:30 by Newsquawk Desk
- APAC stocks traded with a modest positive bias following the gains on Wall Street but with gains capped ahead of the US PCE and the Christmas break.
- Nike (NKE) shares slumped over 11% after-market after guiding Q3 revenue slightly negative Y/Y, cutting FY24 revenue growth guidance, and warning of cautious consumers.
- DXY took a breather after dipping to multi-month lows overnight. The Dollar was sold on Thursday in quiet US trade with desks pointing to month-end...
21 Dec 2023, 11:15 by Newsquawk Desk
- European bourses are weaker whilst US Futures are firmer, attempting to pare back the prior day's losses
- Dollar is lacklustre in holiday-thinned trade, Yen outperforms
- Fixed benchmarks are incrementally firmer with outperformance in Gilts continuing Wednesday’s CPI-driven dovish move
- Crude futures are tilting lower though within recent ranges; Spot gold remains unchanged amid similar USD action
- Looking ahead, US GDP...
21 Dec 2023, 06:30 by Newsquawk Desk
- US stocks sold off in the NY afternoon with desks pointing to technical factors, hefty 0DTE put options volume, and positioning in "holiday-thinned trade".
- APAC stocks traded mostly lower as the downbeat sentiment from Wall Street reverberated despite a lack of major catalysts, although Mainland Chinese markets eventually eked out gains.
- The Biden administration is reportedly mulling raising tariffs on some Chinese goods, including EVs, WSJ sources said, in an...
20 Dec 2023, 11:25 by Newsquawk Desk
- European bourses and US Futures are weaker though the FTSE 100 (+0.8%) outperforms post-CPI
- Dollar remains propped up; Pound lags after softer-than-expected CPI; Yen outperforms
- Fixed is higher led by outperformance in Gilts as attention turns to US 20yr supply
- Crude is firmer with overall specifics light; Spot Gold gives back some of yesterday's gains whilst base metals are generally in the green
- Looking ahead, EZ...
20 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly positively following the tailwinds from Wall Street, although newsflow overnight was on the quieter side amid the pre-Christmas lull.
- Nikkei 225 and JGB futures surged as APAC traders reacted to BoJ Governor Ueda's dovish press conference.
- European equity futures are indicative of a firmer cash open, with Euro Stoxx 50 future +0.2% after cash markets closed +0.3% on Tuesday.
- The US reportedly weighs whether to...
19 Dec 2023, 11:35 by Newsquawk Desk
- BoJ maintained policy settings & forward guidance, Ueda said little chance for BoJ to say policy will change in January
- Dovish reaction in fixed income with JGBs leading and global yields lower, USD/JPY testing 145.00 at best
- European bourses & US futures are firmer, ES remains sub-4800 and Monday’s 4802.25 best
- DXY pivoting 102.50 with Antipodeans once again outperforming with strength also in EUR &...
19 Dec 2023, 06:37 by Newsquawk Desk
- APAC stocks eventually traded mixed after a subdued start to the session with news flow light and the BoJ failing to induce any macro price action.
- JPY was hit after the BoJ unanimously left its rate and YCC unchanged, whilst forward guidance was also maintained and the Bank acknowledged the recent cooling in inflation.
- Fed's Daly (2024 voter) said it is appropriate for the Fed to begin looking ahead to lowering interest rates in 2024 because of how inflation has...
18 Dec 2023, 11:45 by Newsquawk Desk
- Modest pressure in European/US equities after a similar APAC handover given some Fed pushback
- Fed's Mester (2024) says markets are a bit ahead of the Fed on rate cuts; Goolsbee (2023 voter) may need to shift focus to jobs
- DXY pressured around 102.50, EUR above 1.09 with limited reaction to Ifo; JPY lags into BoJ
- EGBs printed session highs after German Ifo with USTs contained & 30yr yield eyeing 4.00% to...
18 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly negatively following a weekend heavy with geopolitical headlines and as markets look to wind down for the Christmas break.
- DXY held a downward bias and traded on either side of 102.50 within a 102.44-63 range amid light macro newsflow and ahead of this week's BoJ confab and US PCE data.
- North Korea fired a long-ranged ICBM overnight, which landed outside of Japan's EEZ. The North Korean ICBM ballistic missile test could have a range...
15 Dec 2023, 11:10 by Newsquawk Desk
- European equities and US Futures are firmer; the RTY (+0.9%) outperforms
- Dollar meanders around the 102 level; Antipodeans benefit from the risk tone whilst EUR lags post PMI
- EGB’s are bid following EZ Flash PMI data whilst USTs are contained pre-Williams; Gilts remain firmer but off highs after their own PMIs
- Crude holds a modest bias in line with a broader positive risk tone post Chinese Industrial Output...
15 Dec 2023, 06:30 by Newsquawk Desk
- APAC stocks traded mostly higher after the positive handover from Wall St as yields continued to decline.
- Chinese Industrial Production topped estimates but Retail Sales disappointed despite showing double-digit percentage growth.
- European equity futures are indicative of a higher open with Euro Stoxx 50 future +0.2% after the cash market closed up 0.2% yesterday.
- DXY hovers around the 102 mark, EUR/USD lingers just below 1.10 and...
14 Dec 2023, 11:10 by Newsquawk Desk
- European equities and US futures continue to gain; the FTSE 100 outperforms lifted by upside in Basic Resources
- DXY is weaker post-FOMC; Antipodeans bid on positive risk sentiment; JPY benefits from converging yield spreads
- SNB unchanged at 1.75%, cuts not part of the discussion, dropped FX ‘selling’ reference; Norges Bank hiked to 4.50%
- Fixed bid awaiting fresh impetus from the ECB and BoE
- Commodities extend...
14 Dec 2023, 06:35 by Newsquawk Desk
- US stocks rallied, while bonds and gold also surged as the dollar and yields slumped in response to the dovish FOMC
- The Fed kept rates unchanged but made dovish tweaks to the statement guidance and cut its 2024 median dot by more than expected
- European equity futures are indicative of a higher open with Euro Stoxx 50 future +1.1% after the cash market closed down 0.1% yesterday
- DXY fell as low as 102.42, EUR/USD hovers around 1.09 pre-ECB,...
13 Dec 2023, 11:00 by Newsquawk Desk
- European equities and US Equity futures are firmer awaiting the Fed Policy Announcement
- Dollar is bid to the detriment of G10 pairs; Kiwi underperforms following the larger NZ current account deficit; Pound lags amid dismal GDP data
- Gilts gap higher post-data though benchmarks await the FOMC & German fiscal clarity
- Crude teeters around the unchanged mark having spent much of the European session in the red; Base metals are mostly softer...
13 Dec 2023, 06:40 by Newsquawk Desk
- APAC stocks traded mixed with participants cautious heading into the FOMC announcement.
- European equity futures are indicative of a flat open with Euro Stoxx 50 future unchanged after the cash market closed down 0.1% yesterday.
- DXY remains sub-104 pre-FOMC, JPY unfazed by improved Tankan data, NZD lags.
- USTs and Bunds are marginally firmer post-strong 30yr US auction, crude futures languished near 6-month...
12 Dec 2023, 11:15 by Newsquawk Desk
- European bourses dip into the red despite initial gains; US Futures are firmer ahead of US CPI; the FTSE 100 outperforms post UK-data
- Dollar oscillates on either side of the 104.00 mark; Yen is among the G10 outperformers, rebounding from yesterday’s hefty losses
- Bonds lift off post-supply low as attention turns to US CPI later today, Gilts gap higher on UK wages
- Crude is weaker despite overnight reports that a Norwegian-flagged tanker was...
12 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks were mostly positive as the region took impetus from the gains on Wall St.
- European equity futures are indicative of a slightly higher open with Euro Stoxx 50 future +0.1% after the cash market closed up 0.4% yesterday.
- DXY is softer but contained in a tight range around the 104 mark, antipodeans and JPY lead gains vs. the greenback.
- Bunds and USTs firmer despite poor US 3yr and 10yr auctions, crude continued to edge...
11 Dec 2023, 11:10 by Newsquawk Desk
- European equities are mixed/flat alongside US equity futures; the FTSE 100 lags, hampered by Basic Resources
- DXY is around flat; JPY significantly underperforms after BoJ sources, USD/JPY up to 146.45
- BoJ is said to see little need to end negative rates in December, via Bloomberg citing sources; intends to come to a decision based on data up to the last minute. Lacks proof of sustainable inflation.
- Bunds post modest gains whilst Gilts lag in...
11 Dec 2023, 06:40 by Newsquawk Desk
- APAC stocks traded mixed after recent data releases including stronger-than-expected jobs data from the US and worsening deflation in China, while this week’s upcoming risk events, including US CPI data and a slew of central bank updates, added to the cautious mood.
- DXY eked slight gains albeit with trade confined to a tight range; 10-year UST futures were little changed which provided some mild respite from post-NFP selling pressure; crude futures marginally extended on Friday's recovery...