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...
10 Aug 2020, 11:37 by Newsquawk Desk
- European equities lost steam after China announced retaliatory sanctions on US officials
- Targets of the Chinese sanctions include Senators Rubio & Cruz, Freedom House President Abramowitz and Human Rights Watch Director Roth; effective as of today
- A lack of progress in Congressional stimulus talks prompted President Trump to go ahead with taking executive action
- Trump took action on enhanced unemployment benefits, evictions, payroll tax...
10 Aug 2020, 06:55 by Newsquawk Desk
- Asian equity markets eventually traded mostly higher on what was an indecisive start to the week amid holiday-thinned conditions
- A lack of progress in Congressional stimulus talks prompted President Trump to go ahead with taking executive action
- Trump took action on enhanced unemployment benefits, evictions, payroll tax deferral and student loan relief
- Reports noted that the orders are likely to face some legal challenges, while the enhanced...
07 Aug 2020, 11:34 by Newsquawk Desk
- European equities drift lower as the APAC sentiment reverberated into the region
- US President Trump signed executive orders to ban transactions with TikTok’s parent ByteDance, as well as Tencent-owned WeChat in 45 days
- US President Trump Working Group on Financial Markets recommended Chinese companies currently listed on US exchanges be compliant with US accounting standards or be delisted
- US Treasury Secretary Mnuchin said the sides are...
07 Aug 2020, 06:55 by Newsquawk Desk
- Asian equity markets failed to sustain the positive handover from Wall St where all major indices notched gains as tech resumed its outperformance
- US State Department lifted advisory against all international travel and is returning to its previous system of country-specific levels of travel advice
- US President Trump signed executive orders to ban transactions with TikTok’s parent ByteDance, as well as Tencent-owned WeChat in 45 days
- US...
06 Aug 2020, 11:44 by Newsquawk Desk
- European equities traded choppy but are ultimately lower; FTSE 100 underperforms
- Further US COVID-19 relief bill talks will take place today; goal is to conclude discussions this week
- BoE maintained policy settings; Gov Bailey said negative rates are in the toolbox but prefers QE; RBI unexpectedly stood pat on rates
- In FX, DXY is modestly firmer; GBP outperforms and TRY tumbles
- Looking ahead, highlights include US...
06 Aug 2020, 06:53 by Newsquawk Desk
- Asian equity markets traded mixed amid a lack of fresh catalysts and with the region failing to take advantage of the mild tailwinds from Wall St
- In FX, the DXY remains sub-93.00, EUR/USD trades in the high 1.18’s and GBP/USD maintains 1.31 status ahead of the BoE
- US stimulus talks remain deadlocked with recent reports suggesting that President Trump is prepared to use executive orders if a deal is not reached
- Looking ahead, highlights...
05 Aug 2020, 11:43 by Newsquawk Desk
- European stocks drift higher as earnings remain in focus; sectors retain a cyclical bias
- Chinese Ambassador to the US said China is prepared to negotiate with other countries for peaceful solution to South China Sea disputes
- Further US coronavirus relief bill talks will take place today; US Treasury Secretary Mnuchin said he wants to have an understanding by end of the week
- DXY dipped below 93.000, Antipodeans outperform, spot gold extends...
05 Aug 2020, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed after the marginally firmer handover from Wall St amid the toing and froing in US COVID-19 relief discussions
- Caixin Services PMI missed estimates and Caixin Composite PMI was lower than previous but both remained in firm expansionary territory
- The DXY continued to soften and sits just above the 93.00 level, EUR/USD reclaimed 1.18, GBP/USD sits just below 1.31
- Gold soared to unprecedented heights and broke...
04 Aug 2020, 11:40 by Newsquawk Desk
- Initial optimism across stocks faded; sectors hold a cyclical bias
- US Senate could start the debate on the House-passed COVID-19 bill this afternoon, according to Fox
- House Speaker Pelosi said she hopes a deal could be made this week, although acknowledged that it will not probably occur until next week
- RBA kept rates unchanged at 0.25% as expected and reiterated its forward guidance, but will purchase AGS...
03 Aug 2020, 11:35 by Newsquawk Desk
- European equity markets began the new trading month mixed following a similar lead from the APAC session
- White House Chief of Staff Meadows suggested there is still a long way to go in coronavirus relief negotiations and that he is not optimistic of reaching a long-term deal
- Trump administrations is reportedly mulling options for unilateral actions to address some of the economic fallout from the pandemic if no stimulus deal is reached;...
03 Aug 2020, 06:53 by Newsquawk Desk
- Asian equity markets began the new trading month mixed after last Friday’s positive close on Wall St where the tech sector rallied
- US President Trump said he may ban TikTok and is looking at a lot of alternatives for TikTok
- Source reports later stated that President Trump is to allow 45 days for ByteDance to negotiate the sale of TikTok to Microsoft
- The DXY was firmer around the 93.50 level as it extended on its rebound from fresh 2-year...
31 Jul 2020, 11:56 by Newsquawk Desk
- European bourses trade modestly firmer with US futures posting similar performance as fundamental newsflow is light going into month-end
- Apple, Alphabet, Amazon and Facebook all beat on top and bottom lines in after-market releases
- US Treasury Secretary Mnuchin said we are going back to the negotiating table and that the best-case scenario is that a deal is made in the next few days
- Hong Kong Gov't announce the September legislative council elections are to be postponed
- USD has firmed up...
31 Jul 2020, 06:56 by Newsquawk Desk
- Asian equity markets traded lacklustre heading into month-end after somewhat mixed Chinese PMI data with the region failing to take advantage of the momentum from US
- US futures were boosted after-hours following big tech earnings in which Apple, Alphabet, Amazon and Facebook all beat on top and bottom lines
- DXY continued to weaken and extended its decline below the 93.00, EUR/USD briefly breached 1.1900 and GBP/USD remains above 1.3100
- US President Trump said he does not want a delay of 2020...