24 Jul 2020, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded lower across the board after a similar performance on Wall St; Mainland China underperformed
- China has confirmed it will be asking the US to close the Chengdu consulate in response to the closure of the Chinese consulate in US, as speculated
- The head of the Chinese consulate in Houston will not commit to closing the office by the Friday deadline
- US GOP stimulus bill likely will not be released until Monday amid disagreements over jobless benefits and other issues
- In...
23 Jul 2020, 11:58 by Newsquawk Desk
- Sentiment remains supported after strong EU earnings & as US-China tensions haven’t escalated further
- US President Trump said it is possible for more Chinese consulates in the US to be closed while China is reportedly moving to close the US consulate Chengdu
- MSFT beat on EPS & revenue but trade lower in the pre-market while TSLA also beat and are now eligible for S&P 500 inclusion, +5% in pre-market
- Brexit negotiations have reportedly not broken down, according to government sources, but...
23 Jul 2020, 06:52 by Newsquawk Desk
- Asia-Pac stocks traded mostly lower with Mainland China weighed on by the escalating tensions with US
- US President Trump said it is possible for more Chinese consulates in the US are to be closed
- China is reportedly moving to close the US consulate in Chengdu in retaliation for the closure of the Chinese diplomatic facility in Houston, sources stated
- US prosecutors said the Chinese consulate in San Francisco is harbouring a Chinese military...
22 Jul 2020, 12:05 by Newsquawk Desk
- Sentiment remains softer after mixed APAC performance and US-China tensions, but US futures have begun to edge higher
- US asked China to close their Houston consulate which prompted backlash from China and threats of retaliatory action
- US Treasury Secretary Mnuchin hopes to get a new COVID-19 bill passed by the end of July
- US President Trump reiterated that COVID-19 vaccines are coming sooner than anyone thought possible & working on a very powerful strategy
- DXY was bolstered on Houston...
22 Jul 2020, 06:51 by Newsquawk Desk
- Asia-Pac stocks traded mixed amid a similar performance on Wall Street; Mainland China outperformed; Australia lagged
- The Telegraph reports that the UK is close to abandoning hopes on a post-Brexit EU trade deal; whilst a UK-US trade deal is unlikely before the US election
- US Treasury Secretary Mnuchin hopes to get a new COVID-19 bill passed by the end of July but reportedly did not talk about a payroll tax cut at the Senate Republican lunch
- Gold and Silver were in focus overnight as prices printed...
21 Jul 2020, 12:02 by Newsquawk Desk
- Sentiment remains strong after similar APAC performance & EU recovery package agreement
- EU leaders have reached an agreement on a EUR 1.82tln budget and recovery package
- China urged UK to stop interfering in Hong Kong affairs and stated UK will bear consequences if it insists on going down the wrong road
- RBA Governor Lowe said the Board could lower the Cash Rate to 10bp (currently 25bps) but judgement is lower rates would have little benefit, would prefer a softer AUD
- FX, sees the USD...
21 Jul 2020, 06:54 by Newsquawk Desk
- APAC stocks traded with firm gains, fuelled by the tech rally on Wall Street; Mainland China took a breather from yesterday’s outperformance
- EU leaders have reached an agreement on a EUR 1.82tln budget and recovery package
- China urged UK to stop interfering in Hong Kong affairs and stated UK will bear consequences if it insists in going down the wrong road
- RBA Governor Lowe said the Cash Rate could be lowered to 10bps but lower rates would have little benefit; he favours a weaker AUD but will not...
20 Jul 2020, 11:55 by Newsquawk Desk
- Sentiment has strengthened in Europe but remains mixed/flat stateside as we await the EU Council recommencement
- EU leaders are yet to formally agree on the scale of grants in the Recovery Fund as talks enter a fourth day, leaders will reconvene today at 16:00CEST/15:00BST
- Frugal EU members have further eased their stance on grants, but asked Southern Europe and France to meet them halfway; France sees a path towards a deal
- Trump admin and GOP leaders to meet at White House today morning to discuss...
20 Jul 2020, 07:06 by Newsquawk Desk
- Asia-Pac stocks traded choppy following a mixed lead from Wall Street; Mainland China outperformed
- EU leaders are yet to formally agree on the scale of grants in the Recovery Fund as talks enter a fourth day, leaders will reconvene today at 16:00CEST/15:00BST
- Frugal EU members have further eased their stance on grants, but asks Southern Europe and France to meet them halfway; France sees a path towards a deal
- PBoC stood pat on its 1yr and...
17 Jul 2020, 12:03 by Newsquawk Desk
- European bourses are modestly firmer heading into US’ players arrival but trade for the morning has been tepid & without conviction
- Initial comments heading into the EU Summit include Dutch PM Rutte ascribing less than 50% chance to a deal and Merkel noting negotiations are tough
- Texas Governor Abbott later commented that there is no shutdown coming; following rumours this could be implemented today
- Applied DNA & Takis report positive preclinical results from Lineadna vaccine candidates for...
17 Jul 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mixed as efforts to recoup the prior day’s losses were fettered by the record increases in coronavirus numbers in US and abroad
- Texas Governor Abbot pushed back on rumours over a potential shutdown in the state, whilst the Miami Mayor suggested a stay at home order could be on the cards
- In FX, the DXY heads into the EU session relatively steady above 96.00, EUR/USD trades sub-1.14
- Reports suggest there are disagreements in the White House over the use of stimulus checks vs....
16 Jul 2020, 11:41 by Newsquawk Desk
- Sentiment remains somewhat sour in a mild pull-back from vaccine induced upside after mixed APAC data pre-ECB & US data
- Chinese GDP and Industrial Production topped estimates whilst Retail Sales disappointed and showed a surprise contraction
- US is reportedly considering a travel ban on members of the Chinese Communist Party, although reports added that President Trump may ultimately reject a possible travel ban
- DXY is rangebound but firmer with major peers softer while debt remains in mild...
16 Jul 2020, 06:54 by Newsquawk Desk
- Asian stocks traded mostly negative as recent vaccine optimism that underpinned global stocks took a back seat to the slew of tier-1 releases in the region
- Chinese GDP and Industrial Production topped estimates whilst Retail Sales disappointed and showed a surprise contraction
- NIH's Fauci said the US will have an effective COVID-19 vaccine by year-end and that Moderna's vaccine trial results were especially promising
- The DXY edged marginal gains above 96.00 after rebounding from the prior day’s...
15 Jul 2020, 12:01 by Newsquawk Desk
- Sentiment remains strong following on from multiple COVID-19 vaccine updates ahead of US’ entrance
- Moderna (MRNA) COVID-19 vaccine produced antibodies in all patients tested in the initial study, according to reports
- US President Trump said he signed legislation and an executive order to hold China accountable for actions in Hong Kong
- BoJ kept monetary policy settings unchanged as expected with rates kept at -0.1% and 10yr JGB yield target at around 0% through an 8-1 vote
- Court rejects EU...
15 Jul 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mostly positive as regional bourses tracked the cyclical-led gains in US peers
- Moderna (MRNA) COVID-19 vaccine produced antibodies in all patients tested in an initial study, according to reports
- US President Trump said he signed legislation and an executive order to hold China accountable for actions in Hong Kong
- BoJ kept monetary policy settings unchanged as expected with rates kept at -0.1% and 10yr JGB yield...
14 Jul 2020, 11:53 by Newsquawk Desk
- Sentiment is subdued in Europe, but off lows, as US futures remain robust ahead of US bank earnings
- China's Foreign Ministry intends to apply sanctions on Lockheed Martin (LMT) over arms sales to Taiwan
- Trump’s advisors have outruled breaking the USD/HKD peg while China says the US accusations over the South China Sea are unjustified
- UK reportedly will ban UK telecoms from purchasing Huawei equipment by year-end and will remove Huawei from all 5G networks by 2027
- FX sees the USD softer but...
14 Jul 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded negatively with sentiment dampened following choppy performance stateside
- California Governor Newsom ordered a shutdown of indoor restaurants, bars, movie theatres and other businesses across the state
- The US has denounced China's claims to the South China Sea as unlawful
- The DXY sits just above 96.50 with trade across the FX complex relatively contained overnight
- UK will reportedly ban UK telecom companies from purchasing Huawei equipment by year-end and will...
13 Jul 2020, 11:52 by Newsquawk Desk
- Sentiment remains firm but European bourses are off highs while US futures remain steady with gains of 0.5%
- Weekend updates saw a record rise in global COVID-19 cases, whilst Florida saw its largest increase in cases since the pandemic began
- US is reportedly weighing limited options to sanction China for its actions in Hong Kong
- China's Foreign Ministry says it will impose sanctions on US lawmakers in response to sanctions over Xinjiang
- US is to issue 25% tariffs on USD 1.3bln of French...
13 Jul 2020, 06:54 by Newsquawk Desk
- Asian equity markets began the week mostly positive as the region benefitted from the recent tailwinds from Wall St.
- Weekend updates saw a record rise in global COVID-19 cases, whilst Florida saw its largest increase in cases since the pandemic began
- US is reportedly weighing limited options to sanction China for its actions in Hong Kong, according to WSJ
- DXY traded softer and declined back below 96.50, EUR/USD and GBP/USD trade above 1.13 and 1.2650 respectively
- WTI crude futures retraced...
10 Jul 2020, 11:52 by Newsquawk Desk
- Choppy end to the week for stocks amidst a flurry of updates as debt remains in demand & dollar dips
- US is said to be mulling a tariff list against France for around USD 500-700mln in goods
- Texas COVID-19 cases increased by the most since the pandemic began and the Governor predicts next week will be worse
- EU Council President Michel proposes a budget of EUR 1.074tln & recovery fund total maintained at EUR 750bln
- IEA raises 2020 oil demand forecast by 400k BPD, demand decline in Q2...
10 Jul 2020, 06:54 by Newsquawk Desk
- Asian stock markets were negative following a lacklustre performance across global peers
- Large-cap Chinese shares were pressured after two state-backed funds said they plan to trim holdings
- US coronavirus cases rose by at least 60,565 which was a 2nd consecutive record increase
- US is said to be mulling a tariff list against France for around USD 500-700mln in goods, with a potential announcement today, sources
- In FX,...
09 Jul 2020, 11:49 by Newsquawk Desk
- European bourses and US equity futures are mixed; DAX and IT sector outperforms after SAP’s prelim results
- US coronavirus cases rose by more than 60,000 for a record daily increase according to a major newswire tally; Texas death rise was the largest since the pandemic began
- China’s Foreign Minister said China is willing to develop ties with the US but relations face serious challenges
- Australia is to suspend the extradition agreement with Hong Kong while New Zealand will review relationship...
09 Jul 2020, 06:59 by Newsquawk Desk
- Asian equity markets traded mostly higher as the region took its cue from the positive rollover from Wall Street
- China’s Foreign Minister said China is willing to develop ties with the US but relations face serious challenges
- Australia is to suspend the extradition agreement with Hong Kong; New Zealand will review relationship settings with Hong Kong
- German Chancellor Merkel is under domestic pressure to take a harder line against...
08 Jul 2020, 11:46 by Newsquawk Desk
- Price action has been choppy amid a lack of fresh fundamentals ahead of a quiet US schedule
- European bourses are lower but remain within session ranges with US futures posting similar performance but erring closer to the U/C mark at present
- California and Texas reported record daily COVID-19 cases, according to reports
- President Trump’s aides were said to propose undermining the USD/HKD peg; the idea had not been put forward to the President
- FX sees the USD is rangebound either side of the...
08 Jul 2020, 06:52 by Newsquawk Desk
- APAC equity markets were mixed; ASX 200 lagged as Australia’s 2nd largest city heads into a 6-week lockdown
- California and Texas reported record daily COVID-19 cases, according to reports
- President Trump’s aides were said to propose undermining the USD/HKD peg; the idea had not been put forward to the President
- UK PM Johnson reiterated that Britain is prepared to leave the EU without a trade agreement
- In FX, DXY held onto gains below 97.000, G10 peers largely traded within tight...