27 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed after failing to take full impetus from the fresh record highs stateside
- US Defense Secretary Esper said Beijing has repeatedly failed to keep promises to adhere to international laws, whilst a US official stated that US actions regarding the South China Sea are a mere start
- EU Trade Chief Hogan confirmed reports that he is to resign as EU Trade Commissioner
- UK officials have warned that negotiations with...
26 Aug 2020, 11:55 by Newsquawk Desk
- European bourses modestly strengthened from a soft open after a weak APAC handover amidst quiet newsflow
- NHC says Laura is set to rapidly strengthen to a Category 4 hurricane
- Salesforce (CRM) beat on top and bottom lines and are some 12% higher in the pre-market
- DXY holds 93.00 with major peers mixed but overall little changed
- UST yields are continuing yesterday’s bear-steepening with USD 51bln 5yr supply in focus before tomorrow’s Jackson Hole
- Looking ahead, highlights include US...
26 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded cautiously amid a lack of fresh macro drivers and following on from the somewhat choppy performance of US counterparts
- In FX, the DXY rebounded from support around 93.00, dragging EUR/USD towards 1.18 and GBP/USD below 1.3150
- WTI crude futures plateaued just south of the USD 43.50/bbl level following the prior day’s advances; output disruptions remain in focus
- US President Trump's Administration is reportedly...
25 Aug 2020, 11:55 by Newsquawk Desk
- European bourses remain positive after a mixed APAC lead with US futures modestly positive as well
- USTR Lighthizer and Treasury Secretary Mnuchin spoke with China Vice Premier Liu He on Monday regarding implementation of the Phase 1 trade agreement
- Officials from both sides see progress and are committed to taking next steps required to ensure success of the deal
- DJIA Reshuffle: Salesforce.com (CRM), Amgen (AMGN) and Honeywell (HON) are to replace ExxonMobil (XOM), Pfizer (PFE) and Raytheon (RTX) as...
25 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly higher as the region took impetus from the fresh record highs on Wall St
- USTR Lighthizer and Treasury Secretary Mnuchin spoke with China Vice Premier Liu He on Monday regarding implementation of the Phase 1 trade agreement
- Officials from both sides see progress and are committed to taking next steps required to ensure success of the deal
- The DXY was softer but remained above 93.00, EUR/USD reclaimed 1.18...
24 Aug 2020, 11:28 by Newsquawk Desk
- Equities build on a firm APAC handover as newsflow slows this morning
- FDA authorized the emergency use of convalescent plasma as treatment for hospitalized COVID-19 patients
- President Trump is considering fast tracking the UK vaccine which is currently being developed by AstraZeneca before the election, although AstraZeneca later denied this
- US President Trump raised the prospect of decoupling from China in which he suggested the US doesn’t have to do business with China
- Crude is supported...
24 Aug 2020, 06:53 by Newsquawk Desk
- Asian equity markets traded mostly positive and E-mini S&P topped 3,400
- US FDA authorized the emergency use of convalescent plasma as treatment for hospitalized COVID-19 patients
- China launched the emergency use of COVID-19 vaccines which are going through clinical trials
- Australia's Victoria State Premier is to allow the extension of the state of emergency for a year & New Zealand extended the Auckland Level 3 lockdown restrictions;...
21 Aug 2020, 11:50 by Newsquawk Desk
- Sentiment largely undeterred on EZ flash PMIs but currently bourses are mid-range and modestly firmer in quiet newsflow
- EZ PMIs were softer than expected, with French Manufacturing dropping into contractionary territory
- UK Retail Sales & PMIs were strong; however, DXY remains firm above 93.00 as Cable gave up 1.32 but EUR/USD just retains 1.18 – Brexit updates have been downbeat, but nothing fundamentally new
- US House Speaker Pelosi says...
21 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly positive as the region benefitted from the tech-led gains on Wall St
- Brexit talks are set to end without a breakthrough this week, albeit the UK has reportedly submitted a draft FTA
- In FX markets, the DXY gave back some gains, providing mild reprieve for EUR/USD and GBP/USD
- US House Speaker Pelosi says the timing is not right for a smaller coronavirus relief bill
- Looking ahead, highlights include UK retail sales, EZ, UK & US flash PMIs, Canadian retail...
20 Aug 2020, 11:14 by Newsquawk Desk
- Sentiment remains soft after less accommodative FOMC minutes and US-China tensions remain in focus
- China's Foreign Ministry have decided Hong Kong will be suspending agreements with the US on some areas of legal cooperation
- Australia is reportedly to block China's Mengniu Dairy's proposed AUD 600mln takeover of a number of Australian dairy brands, FT
- FX sees the DXY modestly firmer but meandering around 93.00 with major peers subdued as such and antipodeans taking the brunt; NOK was unfazed by an...
20 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded lower across the board amid headwinds from Wall St where stocks faltered in the aftermath of the less accommodative than expected FOMC Minutes
- FOMC minutes mentioned the ongoing framework review but lacked any timing of its release and there also appeared to be no clear consensus regarding forward guidance
- There was also opposition to YCC as most members judged yield caps and targets would likely provide only modest benefits in the current environment
- US and Chinese trade...
19 Aug 2020, 11:50 by Newsquawk Desk
- A non-committal European session thus far with bourses within ranges and modestly firmer at present
- President Trump stated that he postponed talks with China and does not want to talk with China right now
- Brexit trade discussions are reportedly set to stall again after Brussels dismissed UK demands for continued wide-ranging EU access for British truckers
- Lowes (LOW) beat on EPS & revenue and highlights that sales momentum continues into August
- US Oil Fund (USO) has received a Wells...
19 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets sustained the mixed lead from their counterparts on Wall St where the S&P 500 and Nasdaq notched fresh record intraday highs
- President Trump stated that he postponed talks with China and does not want to talk with China right now
- Brexit trade discussions are reportedly set to stall again after Brussels dismissed UK demands for continued wide-ranging EU access for British truckers, according to the FT
- In FX, the DXY was granted some reprieve overnight with EUR/USD capped...
18 Aug 2020, 11:48 by Newsquawk Desk
- European bourses have been erring marginally higher throughout the session, with similar performance for US futures; amidst quiet newsflow
- DXY remains pressured and dropped briefly to a new YTD trough, as such major FX peers are largely firmer this morning
- Senate Republicans are planning to propose a slimmed down relief bill which is expected to include USD 10bln for the USPS and USD 300 in boosted unemployment benefits till December 27th
- Oracle (ORCL) has reportedly joined the pursuit to purchase...
18 Aug 2020, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed following a similar indecisive performance for stocks on Wall St
- Oracle (ORCL) has reportedly joined the pursuit to purchase TikTok's US operations
- In FX, the DXY further retreated below 93.00, broadly providing support to its major counterparts
- White House Chief of Staff Meadows said he has not spoken with House Speaker Pelosi in over a week regarding COVID...
17 Aug 2020, 11:30 by Newsquawk Desk
- European stocks are choppy amidst minimal news-flow, Spain’s IBEX underperforms; US futures modestly firmer
- US President Trump issued a new order on ByteDance to divest itself of any assets used to support the TikTok app in the US within 90 days.
- One source suggested the US-China meeting was delayed as US wanted more time to allow China to increase US import; another referenced a conference of senior Communist Party leaders
- US House Democrats are to hold a caucus-wide conference call this morning...
17 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets began the week somewhat mixed following the indefinite postponement of the US-China trade agreement review talks
- The US-China six-month review of the trade agreement was delayed due to scheduling issues and a new date was not yet set, according to sources
- US President Trump increased pressure on ByteDance and is said to be looking at pressuring other Chinese companies including Alibaba
- In FX, DXY was subdued around 93.00, EUR/USD breached 1.1850 and GBP/USD briefly reclaimed...
14 Aug 2020, 11:40 by Newsquawk Desk
- Sentiment has slipped as COVID updates and soft China data dented an otherwise quiet session as DXY and USTs see modest upside
- Chinese Industrial Production & Retail Sales for July both missed expectations
- New Zealand PM Arden says the Auckland restrictions are to be extended for an extra 12 days; settings will be reviewed on August 21st
- RBA Governor Lowe noted that the conditions for a rate increase are not likely to be met for at least 3-years
- Looking ahead, highlights include US...
14 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets head into the weekend mixed as the region took its cue from the lackadaisical performance in global peers
- Chinese Industrial Production and Retail Sales missed expectations
- In FX, the DXY has consolidated after a brief dip below 93.00, EUR/USD and GBP/USD maintain 1.1800 and 1.3050 respectively
- RBA Governor Lowe who noted the likely conditions for a rate increase will not be met for at least 3...
13 Aug 2020, 11:42 by Newsquawk Desk
- European bourses are softer after a mixed-APAC handover while US futures are little changed overall as newsflow remains relatively quiet
- USTR maintained import tariffs at 15% and 25% respectively for EU aircraft and other goods, with minor tweaks to the 25% tariff basket
- US Treasury Secretary Mnuchin said Trump’s administration is willing to move ahead with legislation but Democrats have no interest in negotiating; no COVID bills scheduled in the Senate today
- Apple (AAPL), Ford (F), Walmart (WMT)...
13 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets began mostly higher as the region took impetus from the tech-led gains on Wall St
- The S&P 500 and Nasdaq moved to within close proximity of record highs, fuelled by strength across the big tech names
- US Trade Representative said the US is removing certain products from the UK and Greece from its tariff list and adding an equal amount of trade from France and Germany
- Additionally, the amount of products subject to...
12 Aug 2020, 11:39 by Newsquawk Desk
- European stocks trade flat/firmer amid a lack of fresh catalysts; DAX is pressured by its IT exposure whilst FTSE 100 outperforms
- US President Trump said the government reached an agreement with Moderna (MRNA) for delivery of 100mln doses of its vaccine candidate
- US Senator Kamala Harris has been chosen as former VP Joe Biden’s running mate
- RBNZ kept rates unchanged as expected, widened its LSAP and agreed that the package of additional monetary tools must remain in active preparation which includes...
12 Aug 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded with a lacklustre tone following on from a weak lead from US where the major indices faltered in late trade
- US Senate Majority Leader McConnell dashed some stimulus hopes and saw the S&P 500 retrace its earlier gains
- In FX markets, the DXY heads into the EU open firmer as EUR/USD and GBP/USD sit above 1.17 and 1.30 respectively
- RBNZ kept rates unchanged as expected, widened its LSAP programme to NZD 100bln from NZD 60bln and agreed to continue preparing a package of...
11 Aug 2020, 11:43 by Newsquawk Desk
- Sentiment strengthened after the European cash open whilst gold gave up USD 2000/oz with fundamental drivers at the time sparse; US futures firmer and towards session peaks, e-mini S&P hit record highs
- US President Trump said he is mulling a capital gains tax cut, as well as an income tax cut for middle-income families
- Russian-made COVID-19 vaccine has received regulatory approval, according to Russian President Putin via RIA
- New Zealand...
11 Aug 2020, 06:54 by Newsquawk Desk
- Asian equities traded higher as risk appetite in the region improved on the tepid performance seen on Wall St where most major indices finished in the green but tech underperformed
- The DXY heads into the EU open just above 93.50, EUR/USD hovers around 1.1750 and GBP/USD just below 1.3100
- US President Trump said he is mulling a capital gains tax cut, as well as an income tax cut for middle-income families
- Treasury Secretary Mnuchin said stated he has not spoken to House Speaker Pelosi or Senate...