21 Oct 2019, 12:08 by Newsquawk Desk
- Major European bourses are modestly firmer, FTSE lags amid a firmer pound, SAP shares rose after earnings and announcing a deal with Microsoft
- UK Parliament vote on the Brexit deal was postponed on Saturday after lawmakers voted (322-306) in favour of passing the Letwin amendment
- In FX, GBP/USD briefly topped 1.3000, DXY fell further towards 97.00, risk currencies outperform
- Looking ahead highlights include BoE’s Haldane, Fed’s Bowman, ECB...
21 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets began the week with a cautious tone following last Friday’s lacklustre close on Wall St and amid continued Brexit uncertainty
- Parliament vote on the Brexit deal was postponed on Saturday after lawmakers voted (322-306) in favour of passing the Letwin amendment
- PM Johnson stated that legislation will be tabled in the upcoming week and sent a letter to the EU requesting a Brexit extension which he did not sign
- Looking ahead highlights include, German PPI, BoE’s Haldane, Fed’s...
18 Oct 2019, 12:00 by Newsquawk Desk
- Major European Bourses are modestly lower, France’s CAC underperforms as Renault cut outlook
- Chinese economic growth slowed to the weakest pace since 1992, although Q/Q and YTD GDP figures matched analysts’ forecasts, while IP surpassed estimates
- Outside experts reportedly warned President Trump that continued escalation of US-China trade tensions could hurt economy and re-election
- Looking ahead, highlights US Baker Hughes rig count, Fed’s...
18 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded cautiously after the rally from the Brexit deal breakthrough petered out and as participants mulled over mixed Chinese data
- Chinese economic growth slowed to the weakest pace since 1992, although Q/Q and YTD GDP figures matched analysts’ forecasts, while IP surpassed estimates
- UK rebel Labour MPs were said to be considering backing PM Johnson's Brexit deal if workers' and other rights are written into UK law
- Looking ahead, highlights US Baker Hughes rig count, Fed’s...
17 Oct 2019, 12:17 by Newsquawk Desk
- EU and UK have reached a Brexit deal, sources indicate DUP against it; no word from DUP Leader Foster yet
- Sterling is stronger with Cable reaching just shy of 1.30 at best; other G10 currencies are firmer vs. USD
- There will be no discussions on further Turkey sanctions during the European Commission summit, according to a senior EU officials
- Looking ahead highlights include, US Housing Permits & Starts, Philadelphia Fed, Industrial Production and EIA Weekly Stocks, EU Council Summit Begins,...
17 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed after the lacklustre tone rolled over from Wall St where all majors finished with marginal losses
- UK PM Johnson told the 1922 Committee that the UK will still leave deal or no deal on 31st October if a deal cannot be reached
- EU sources stated that a level playing field, customs arrangements and NI consent all have been agreed in the EU/UK talks, although VAT provisions are not done yet
- US President Trump suggested the Phase 1 of the US-China trade deal is moving...
16 Oct 2019, 12:17 by Newsquawk Desk
- European bourses are mixed but little changed overall as sentiment remains choppy, FTSE underperforms on ongoing GBP strength
- EU’s Barnier is optimistic a deal can be reached today, but EU sources state there is now not enough time to formally sign a deal at tomorrow’s summit; DUP remain the critical voice at present
- In FX, a volatile session for GBP thus far with the remaining G10 currencies mixed vs. USD; debt complex is bid across the board
- US House passed a bill aimed at supporting the Hong Kong...
16 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded higher after taking the impetus from the gains across global peers
- A large split reportedly opened up among Tory Eurosceptics whether to back PM Johnson's Brexit plan with some in the ERG supporting it, whilst others spoke out against it
- Reports are now talking about an effective deadline of 1300BST for a Brexit deal to be agreed in Brussels
- China urged US lawmakers to stop interfering and threatened to retaliate with strong measures after the US House passed a bill aimed...
15 Oct 2019, 11:59 by Newsquawk Desk
- European indices are firmer this morning, though sentiment has been impacted by US-China rhetoric
- Reports indicate China will struggle to purchase USD 50bln of US agri products annually, unless retaliatory tariffs are removed
- Mixed comments from EU’s Barnier stating that a Brexit deal is possible this week although sources note that the latest proposals are not enough
- DXY is mixed vs. G10 peers, with GBP and JPY outperforming and the debt complex is firmer thus far
- Looking ahead highlights...
15 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed following the lacklustre lead from Wall St where the recent US-China trade optimism receded
- US-China talks are to resume next week and the Phase 1 deal could be wrapped up in November according to Chinese press
- Brexit deal hopes are reported to have increased as sources in both sides of the channel stated there was cautious optimism, according to the Telegraph
- US President Trump is to authorise sanctions against Turkish officials, immediately stop negotiations with...
14 Oct 2019, 11:45 by Newsquawk Desk
- Major European indices are subdued after Friday’s highs and following latest US-China rhetoric
- China reportedly want further discussion before the signing of the Phase One deal with US President Trump
- Brussels is demanding further Brexit concessions from UK which has prompted warnings that a deal based on additional compromise would be rejected by Parliament
- In FX, GBP underperforms a somewhat mixed USD as Friday’s Brexit euphoria fizzles out ahead of Thursday’s summit
- Looking ahead...
14 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets began the week on the front-foot as the region reacted to last week’s announcement of a US-China Phase 1 dea
- The deal saw China agree to make between USD 40bln-50bln of agricultural purchases from the US and the US refrain from implementing the October 15th tariffs
- Brussels is demanding further Brexit concessions from UK which has prompted warnings that a deal based on additional compromise would be rejected by Parliament
- DXY slightly firmed as safe-havens recovered some of the...
11 Oct 2019, 12:03 by Newsquawk Desk
- European bourses are firmer this morning as US-China flow has been light following yesterday’s positivity from US President Trump; is to meet China VP He at 19:45BST
- EU’s Tusk says UK PM Johnson is yet to bring forward suitable proposals, have received positivity signals from the Irish PM
- Reports that a Iranian tanker has been hit by missiles near a Saudi port, currently unclear as to where these originated from
- Crude is buoyed on the tanker flow while Sterling is the notable G10 FX outperformer...
11 Oct 2019, 06:50 by Newsquawk Desk
- US President Trump said US-China talks went very well today ahead of his meeting with Chinese Vice Premier Liu He at 14:45EDT/19:45BST
- Asian equities took its cue from the rally on Wall Street, HK outperformed whilst Mainland remained cautious
- UK Brexit negotiators are proposing a "pared-down" free trade agreement to end the Brexit impasse, Irish PM noted that he had good discussions about a future relationship after Brexit
- DXY held onto losses, Cable kept a 1.24+ status, USD/JPY traded on either...
10 Oct 2019, 12:13 by Newsquawk Desk
- European bourses are mixed/little changed overall, as focus remains firmly on US-China updates
- SCMP reports that Chinese delegation is cutting their trip short due to a lack of progress
- FBN’s Lawrence highlights that the China team have been debating leading early, may hinge on today’s talks
- US is reportedly considering some concession on a currency pact, next week’s tariffs and Huawei
- USD is softer vs. G10 peers, while the debt complex remains slightly firmer Stateside though the 10yr is...
10 Oct 2019, 06:50 by Newsquawk Desk
- Asian equities traded with cautious gains in what was a volatile session amid a slew of contradicting trade headlines
- SCMP reported that Chinese delegation is cutting the trade trip short amid no progress on trade issues
- US is reportedly mulling some concessions regarding the currency pact, next week’s scheduled tariffs and Huawei but is to tighten inspections on parcels from China
- FOMC Minutes stated a few members said markets see more accommodation in the future than they see as...
09 Oct 2019, 11:58 by Newsquawk Desk
- Risk sentiment is buoyed on reports that China are open to a partial trade deal in-spite of the technology blacklist, subsequent reports indicate China offer to purchase USD 10bln of goods per year
- Initial reports noted that the EU were prepared to make a significant concession on the Brexit deal; however, this has subsequently been rebuffed from every angle
- Reports that Turkish troops had crossed the Syrian border, since clarified that this has not happened thought they are at the border
- Debt...
09 Oct 2019, 06:49 by Newsquawk Desk
- Asian stocks tracked losses on Wall Street but drifted off lows, South Korea was closed due to a public holiday
- US imposed Visa bans against Chinese individuals related to abuse of China's Uighur community, China said the move interferes in China's internal affairs and undermines China's interests
- US and Kurdish officials expect Turkey to launch an attack on Northeast Syria within the next 24 hours, Turkish attack appears coordinated with Russians according to sources
- Fed Chair Powell said Fed is to...
08 Oct 2019, 11:53 by Newsquawk Desk
- China is toning down exp. ahead of trade talks, delegation are planning to cut the visit short and Liu He has not been given the designation of Special Envoy., SCMP
- China’s Commerce Ministry say to stay tuned for retaliation to the US naming 28 Co’s to be placed on their entity list
- German Chancellor Merkel reportedly told PM Johnson that a deal can only occur if NI remains in the customs union, if this is the EU’s position than a UK source notes that a deal is essentially impossible at any...
08 Oct 2019, 06:49 by Newsquawk Desk
- Asian equities traded higher across the board despite a lacklustre handover from Wall Street, HKEX dropped its bid for LSE and Samsung Electronics released its Q3 guidance
- China is ready to do a deal on the parts of the negotiations both sides agree upon and are prepared to set out a timetable for the harder issues to be worked out next year, according to Fox
- US Commerce Department confirmed it has blacklisted 28 Chinese firms over treatment of the Muslim Uighur community
- In FX, DXY remained within...
07 Oct 2019, 11:12 by Newsquawk Desk
- Major European indices are little changed as markets await further US-China updates
- China is reportedly narrowing the scope for a trade deal with the US, officials expected to present an offer which omits industrial policy or subsidies
- North Korea has terminated working talks with the US and US forces are to pull out of Northern Syria, and not stand in the way of Turkey’s long-standing plan
- USD is firmer vs. G10 counterparts excluding safe havens
- Looking ahead highlights include US Consumer...
07 Oct 2019, 06:56 by Newsquawk Desk
- Asian equities traded mixed after initially opening higher, Mainland China and Hong Kong were closed
- China is narrowing scope for a trade deal with the US ahead of principle-level talks in Washington this week, according to reports
- North Korea has terminated working level nuclear talks with the US due to US’ “old viewpoints and attitude”, according to NK
- UK PM Johnson is reportedly willing to go to the Supreme Court to avoid having to write a letter asking for a delay to Brexit
- Looking...
04 Oct 2019, 11:36 by Newsquawk Desk
- European equities are indecisive and overall little changed ahead of US jobs report
- White House Trade Adviser Navarro reiterated that there will be no small deal with China
- Beijing is in no hurry to forge a deal, and cites the one secured between US and Japan as a reason for not rushing., SCMP
- Fed’s Clarida was optimistic on the economy, noted Fed is not on a pre-set course and a standing repo facility will be discussed in future meetings
- USD is marginally softer thus far, fixed is firmer;...
04 Oct 2019, 06:49 by Newsquawk Desk
- Asian equities traded with no firm direction after an upbeat performance on Wall Street, ahead of NFP
- SCMP Editorial piece stated, "Beijing is in no hurry to forge a deal” with the US
- EU’s Brexit Negotiator Barnier told a private meeting of EU diplomats that UK PM Johnson’s proposals fell far short of his conditions for a deal, sources stated
- In FX, the DXY is flat, EUR and GBP moved in-step with the Dollar, Antipodeans outperformed
- Looking ahead, highlights include US NFP and Trade, Baker...
03 Oct 2019, 12:16 by Newsquawk Desk
- US equity futures are modestly firmer, in a bounce-back from the WTO announcement; note, Germany is closed
- USTR are to impose 10% tariffs on EU aircraft and 25% on agricultural and industrial goods
- Fed’s Evans says the ISM-Manufacturing print confirmed the FOMC’s view and is open-minded for the next meeting
- ·Fixed is firmer as growth concerns grow while DXY remains around 99.0 and somewhat mixed vs. G10 counterparts
- Looking ahead highlights include US Services and Composite PMIs, US Initial...