10 Dec 2019, 12:02 by Newsquawk Desk
- European bourses are significantly subdued, as this morning’s stock sell-off accelerates and spreads across markets
- GBP outperforms ahead of tonight’s MRP, with the DXY continuing to print fresh session lows
- A US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expected according to Chinese press reports
- US House Speaker Pelosi stated that a USMCA trade deal is not agreed to, are close but not yet there
- Looking ahead, highlights include...
10 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets resumed the cautious global risk tone heading into this week’s plethora of risk events
- There were unconfirmed reports citing a trade source which noted the December 15th tariffs are going ahead and that China is preparing for them
- However, Chinese reports suggested a US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expected
- Looking ahead, highlights include Norges Bank Reginal Network Report, UK GDP, Production Trade,...
09 Dec 2019, 11:48 by Newsquawk Desk
- European bourses are tentative as newsflow is limited ahead of a key week
- China’s trade data was weaker than expected, with exports surprisingly contracting though imports did post surprise growth
- USTR Lighthizer and US Democrats are reportedly nearing a deal for Congress to pass USMCA, although hurdles remain
- UK Election polls have around an 8-14pp spread in the Conservative-Labour lead, YouGov MRP to be released tomorrow
- Looking ahead, highlights include US 3yr Supply, RBA’s...
09 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets were mixed as the tailwinds from Friday’s stellar US NFP report were offset by mostly weaker than expected Chinese trade data
- Hong Kong protesters conducted a large-scale march, with organizers claiming a turnout of 800k, protests were largely peaceful
- China ordered government offices and public institutions to remove all foreign computer equipment and software in 3 years
- Heading into election week, polls over the weekend have shown the Conservatives holding onto their lead over...
06 Dec 2019, 11:57 by Newsquawk Desk
- European equities reside in modestly positive territory, FTSE 100 outperforms on a softer Sterling
- China is reportedly to implement tariff waivers for some purchases of soybeans and pork from the US but has taken countermeasures against US limit on diplomats, sources state
- OPEC+ additional 500k BPD output cuts could be split roughly 2/3 for OPEC and 1/3 for Non-OPEC, according to sources
- In FX, GBP softened on potential...
06 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets were higher as the recent US-China trade optimism reverberated in the region, but with gains capped by uncertainty from OPEC and ahead of key US data
- US President Trump said something could happen with regards to tariffs on December 15th but we are not discussing that yet
- OPEC delegates suggested a 350k cut for OPEC and a 150k cut Russia and Non-OPEC
- OPEC official announced the press conference was cancelled for Thursday and sources noted the OPEC meeting was prolonged over...
05 Dec 2019, 12:10 by Newsquawk Desk
- European equities eke mild gains with sentiment somewhat supported by earlier China MOFCOM comments
- China's MOFCOM said US and China maintain close communication, reiterates if a Phase One deal is reached then tariffs should be reduced
- OPEC+ are to discuss deeper oil output cuts of more than 400k BPD as the main scenario, according to sources
- In FX, DXY meanders around 97.50, GBP remains the top gainer, NZD is supported by RBNZ hiking capital requirements, AUD trades lower on downbeat...
05 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets were mostly positive after yesterday’s positive US-China trade updates
- China Global Times tweeted an opinion that if US ignores China's warning and continues interfering in Hong Kong affairs, the Chinese government will certainly step up countermeasures
- DXY traded subdued and looked to retest the 97.50 level to the downside after yesterday’s soft data ahead of Friday’s NFP
- Looking ahead, highlights include OPEC Meeting,...
04 Dec 2019, 11:55 by Newsquawk Desk
- European bourses are firmer as risk sentiment has been lifted on US-China sources
- US and China are reportedly moving closer to a trade deal despite the heated rhetoric, according to sources
- US House voted in favour of passing the bill demanding sanctions on Chinese officals for the treatment of Uighurs
- FX complex is mixed vs. USD with Sterling underperforming above 1.30 mark and AUD subdued after GDP metrics missed
- Looking ahead, highlights include US ADP Employment, Markit Composite &...
04 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets extended on declines as global risk appetite remained sapped by the turbulent trade climate
- Strong Chinese Caixin Services and Composite PMI numbers added to the country’s recent flurry of strong activity data
- US House voted 407-1 in favour of passing the bill demanding sanctions on Chinese officials for treatment of Uighur Muslims.
- Looking ahead, highlights include Eurozone & UK Services & Composite PMIs, US ADP Employment, Markit Composite & Services PMI, ISM...
03 Dec 2019, 11:38 by Newsquawk Desk
- US President Trump said it is probably better to wait until after the 2020 presidential election for a China deal
- USTR office said France's digital services tax discriminates against US companies and that it will take action against regimes that discriminate against US companies
- US President Trump said the EU has to shape up or "things will get very tough", EU said it is prepared to react strongly
- European bourses wiped out earlier gains on...
03 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets retreated amid headwinds from the US where the major indices all but wiped out last week’s gains due to fresh trade concerns
- China Global Times said China will soon release an unreliable entity list and noted that US House is expected to pass a Xinjiang-related bill that will harm the interests of Chinese firms
- USTR office said France's digital services tax discriminates against US companies and that it will take action against regimes that discriminate against US companies
- The...
02 Dec 2019, 11:45 by Newsquawk Desk
- European equities pared a bulk of the earlier upside seen from above-forecast major global PMIs
- Chinese markets welcomed the encouraging PMI data which aside from the headline beat, also showed Non-Manufacturing PMI and Caixin Manufacturing PMI topping estimates
- US-China deal was said to be stalled because of Hong Kong legislation according to Axios sources, China Global Times noted that the trade deal must include tariff rollbacks
- Global...
02 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets kick-started December on the front-foot with risk appetite stimulated by a flurry of better than expected Chinese data
- Chinese markets welcomed the encouraging PMI data which aside from the headline beat, also showed Non-Manufacturing PMI and Caixin Manufacturing PMI topping estimates
- US-China deal was said to be stalled because of Hong Kong legislation according to Axios sources
- China Global Times noted that the trade...
29 Nov 2019, 11:45 by Newsquawk Desk
- European bourses are little changed in thin trading conditions on an early US close
- EZ CPI (Flash) printed above expectations, headline YY 1.0% vs. Exp. 0.9%
- Both FX and debt are choppy with month end flows potentially the cause
- Hong Kong Polytechnic University siege was confirmed to have ended as police swept through a vacant but devastated campus yesterday
- Looking ahead, highlights include Canadian GDP, Black Friday, ECB’s de Guindos & de Cos, early US...
29 Nov 2019, 06:55 by Newsquawk Desk
- Asian equity markets were mostly subdued after the holiday closure stateside and amid continued trade uncertainty
- Hong Kong Polytechnic University siege was confirmed to have ended as police swept through a vacant but devastated campus yesterday
- USD was lacklustre amid the holiday-quietened conditions, EUR/USD consolidated at the bottom end of the 1.1000 handle, momentum in GBP/USD faded
- Looking ahead, highlights include Swedish GDP (Q3), EZ CPI (Flash) & Unemployment Rate, Canadian GDP, Black...
28 Nov 2019, 06:55 by Newsquawk Desk
- Asian markets traded mostly lower as the positivity from another record setting session on Wall St heading into Thanksgiving Day, quickly faded
- US President Trump signed the Hong Kong bills into law despite Beijing's objections, according to the White House
- China Foreign Ministry reiterated it strongly opposes the US bill on Hong Kong and that the bill severely meddles in China's internal affairs
- UK YouGov MRP General Election Poll showed Conservatives are set for a 68-seat majority with the party...
27 Nov 2019, 11:46 by Newsquawk Desk
- European bourses are firmer this morning in tentative trade ahead of the last full US day for the week
- Top trade ministers from US, Mexico and Canada will sit down in Washington today for talks on USMCA
- Little movement in either the FX or Fixed complexes at present; DXY is slightly firmer
- Looking ahead, highlights include US Durables, GDP 2nd Estimate, Jobless Claims, Personal Income, Consumption, Core PCE Price Index, DoEs, Japanese Retail Sales, Fed’s Beige Book, YouGov MRP Model, Day 1 of OPEC's...
27 Nov 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded broadly firmer after Wall Street extended on record levels once again
- However, gains were capped given the lack of material breakthrough from the recent slew of optimistic US-China trade rhetoric
- US President Trump said we are in the final throes of reaching a trade deal with China and wants to see democracy in Hong Kong
- Latest YouGov/Sky News poll shows an 11-point lead for Conservatives; down from the prior...
26 Nov 2019, 11:35 by Newsquawk Desk
- European bourses are softer in holiday-thinned conditions despite positive overnight trade rhetoric
- ·China and US trade negotiators held a phone call today in which they reached a consensus on solving issues and agreed to keep in contact regarding phase one deal
- Fed Chair Powell said Fed would respond if developments spurred a material outlook reassesment and that current monetary policy is likely to remain appropriate as long as data is consistent with moderate growth
- RBA Governor Lowe says QE is...
26 Nov 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mostly higher after taking impetus from the fresh record levels on Wall Street
- China and US trade negotiators held a phone call today in which they reached a consensus on solving issues and agreed to keep in contact regarding phase one deal
- USTR Lighthizer later confirmed the call with China but declined to comment on specifics
- China's Global Times tweeted that topics in the call may have included tariff removal, agricultural purchase and a possible face-to-face...
25 Nov 2019, 11:35 by Newsquawk Desk
- European bourses are firmer this morning as sentiment is supported by APAC newsflow
- China is to increase penalties related to IP theft and will examine lowering the threshold for violators according to fresh government guidelines
- Hong Kong Pro-democracy candidates achieved a landslide win following a record turnout in Hong Kong District Council elections
- Datapraxis analysis on YouGov data projected a UK Conservative majority of 48 seats with...
25 Nov 2019, 06:55 by Newsquawk Desk
- Asian equity markets began the week on a positive note with sentiment underpinned by encouraging reports from China
- China is to increase penalties related to IP theft and will examine lowering the threshold for violators according to fresh government guidelines
- Hong Kong Pro-democracy candidates achieved a landslide win following a record turnout in Hong Kong District Council elections
- US President Trump said the China trade deal is coming along very well, while he also commented that an...
22 Nov 2019, 11:36 by Newsquawk Desk
- EZ PMIs were mixed with manufacturing beat but services subdued, UK missed across the board
- European bourses are slightly firmer this morning on little in the way of trade updates and mixed data
- ECB’s Lagarde speech delivered little in the way of surpises for markets
- DXY is flirting with the 98.0 mark to the upside, with G10 peers mixed and the core debt complex firmer
- US President Trump signed the continuing resolution to avert a government shutdown to December 20th
- Looking ahead,...
22 Nov 2019, 06:55 by Newsquawk Desk
- Asian equity markets eventually traded mixed after the region’s early attempts to shrug-off the headwinds from the losses on Wall St. proved to be short-lived
- Chinese President Xi said China did not start the trade dispute with US and is not afraid of a trade war, nor will it flinch from such a fight but added he wants to work out a phase one agreement
- US President Trump's administration is reportedly mulling a trade investigation against the EU as time for imposing auto tariffs is limited, according to...