European equities are in the red with tech names dragged down by a Apple guidance cut

FX markets are in focus after the JPY ‘flash crash’

Looking ahead, highlights include US ADP, weekly jobs, construction spending, ISM manufacturing.

ASIA

Asia-Pac equities were mixed following the slide in US equity futures after tech-giant Apple fell in excess of 8% after-market following a cut to its Q1 2019 revenue guidance to USD 84.0bln, from previous guidance in the range of USD...

• Asia-Pac equities were mixed following the slide in US equity futures after tech-giant Apple fell in excess of 8% after-market following a cut in guidance
• An overnight surge in JPY rattled FX markets with AUD/JPY plummeting from around 75.50 to a low print of 70.50 amid thin trade and global growth fears
• Looking ahead, highlights include US ADP, weekly jobs, construction spending, ISM manufacturing, supply from Spain

ASIA-PAC

Asia-Pac equities were mixed following the...

• European Indices in the red following on from Asia, as the risk-off tone prevails
• USD has climbed ahead despite beginning the session negatively, although still underperforms JPY
• Looking ahead highlights include Canadian Manufacturing PMI and US Manufacturing PMI.

ASIA

Shanghai Composite (-1.2%), Hang Seng (-2.7%), ASX 200 (-1.6%), Nikkei 225 (closed)

Chinese Caixin Manufacturing PMI (Dec) 49.7 vs. Exp. 50.2 (Prev. 50.2)

PBOC sets USD/CNY reference...

• European Indices in the red following on from Asia, as the risk-off tone prevails
• USD has climbed ahead despite beginning the session negatively, although still underperforms JPY
• Looking ahead highlights include Canadian Manufacturing PMI and US Manufacturing PMI.

ASIA

Shanghai Composite (-1.2%), Hang Seng (-2.7%), ASX 200 (-1.6%), Nikkei 225 (closed)

Chinese Caixin Manufacturing PMI (Dec) 49.7 vs. Exp. 50.2 (Prev. 50.2)

PBOC sets USD/CNY reference...

• European Indices in the red following on from Asia, as the risk-off tone prevails
• USD has climbed ahead despite beginning the session negatively, although still underperforms JPY
• Looking ahead highlights include Canadian Manufacturing PMI and US Manufacturing PMI.

ASIA

Shanghai Composite (-1.2%), Hang Seng (-2.7%), ASX 200 (-1.6%), Nikkei 225 (closed)

Chinese Caixin Manufacturing PMI (Dec) 49.7 vs. Exp. 50.2 (Prev. 50.2)

PBOC sets USD/CNY reference...

 Shanghai Composite (-1.2%), Hang Seng (-3.0%), ASX 200 (-1.5%), Nikkei 225 (closed), DXY 95.86 (-0.3%), Mar’19 e-mini S&P 2482.25 (-0.9%)

Chinese Caixin Manufacturing PMI (Dec) 49.7 vs. Exp. 50.2 (Prev. 50.2)

Australian CoreLogic House Prices (Dec) -1.3% M/M (Prev. -0.9%)

Australian Manufacturing PMI (Dec) Final 54.0 vs. Prelim 53.7 (Prev. 54.6)

North Korean leader Kim Jong Un has stated that he is willing to meet US President Trump at any time but would take an...

• Asia-Pac bourses traded mostly higher in holiday-thinned liquidity following the downbeat lead from Wall St. on Friday
• US President Trump has reportedly privately discussed firing Fed Chair Powell over the latest Fed rate hike
• UK PM May's allies are plotting to keep her at No.10 for at least another two years amid growing confidence her Brexit deal will pass the meaningful vote in January
• Today’s calendar sees a lack of tier 1 highlights. Note, some markets are closed and...

• Dollar proffers from the plight of others, while oil continues to toil
• European stocks spooked by global rout, and quadruple witching
• Looking ahead, highlights include US Durables, GDP, PCE, Canadian, GDP, Retail Sales and Quadruple Witching

ASIA

Asia-Pac stocks were lower across the board as the global stock rout continued into the region following the losses in US amid fears of a government shutdown. The DJIA posted a fifth consecutive session in the red as the index...

• Asia-Pac stocks were lower across the board as the global stock rout continued into the region following the losses in US amid fears of a government shutdown
• FX markets were quiet amid a sparse overnight calendar, and as the DXY traded within a narrow range for most of the session before testing 96.500 to the upside
• Looking ahead, highlights include UK GDP, US Durables, GDP, PCE, Canadian, GDP, Retail Sales and Quadruple Witching

ASIA-PAC

Asia-Pac stocks were lower across...

• Dollar has reverted from post-FOMC levels and European equities continue their overnight decline
• Brent and WTI continue to decline as supply and growth concerns weigh on prices
• Looking ahead, highlights include US Initial Jobless Claims & Philly Fed Business Index

ASIA

Asian equities drowned in a sea of red following the decline seen on Wall St. post-FOMC where the Dow, S&P 500 and Nasdaq all dived to fresh YTD lows and tech-giant Apple sunk over 3%. ASX 200...

• The FOMC raised the fed funds rate target by 25bps, narrowed the trajectory of rate hikes going forward and softened its guidance on future rate hikes
• Asian equities firmly in the red following the declines seen on Wall St. post-FOMC. DXY fluctuated on either side of the 97.000 handle
• Looking ahead, highlights include Riksbank Rate Decision, UK Retail Sales, BoE Rate Decision, US Initial Jobless Claims & Philly Fed Business Index

FOMC

- The FOMC raised the fed funds...

• Dollar continues to underperform major counterpart ahead of todays FOMC decision
• US-China tensions have reportedly resurfaced at the WTO meeting
• Looking ahead, highlights include Canadian CPI, US Existing Home Sales, DoEs, FOMC rate decision and press conference

ASIA

Asian equities were mostly lower amid cautious trade ahead of the FOMC rate decision, and after the attempted rebound on Wall St. where the S&P closed little above its 2018 low, while the Dow Jones was...

• Asian equities were mostly lower amid cautious trade ahead of the FOMC rate decision, and after the attempted rebound on Wall St
• UK’s SNP, Liberal Democrats, Plaid Cymru and Greens have tabled a vote of no-confidence in the government
• Italy's Government source said the EU Commission has accepted the 2019 budget deficit of 2.04%
• Looking ahead, highlights include UK and Canadian CPI, US Existing Home Sales, DoEs, FOMC rate decision and press...

Dollar continues to underperform major counterparts ahead of FOMC and expectations for a Dovish-Hike

WTI hits October 2017 lows as oversupply and growth concerns weigh on prices

Looking ahead, highlights include US building permits and housing starts, ECB’s Makuch

ASIA

Asian equities were lower across the board following the slump seen on Wall St. as investors readied for an expected Fed hike against the backdrop of slowing global growth. The S&P fell to the lowest in 14 months,...

• Asian equities were lower across the board following the slump seen on Wall St. as investors readied for an expected Fed hike against the backdrop of slowing global growth
• UK Labour Leader Corbyn is now implementing a forward motion of no-confidence in UK PM May following her decision to not hold a Brexit vote immediately
• UK PM May has challenged Corbyn instead to call for a no-confidence vote in the government rather than herself, after the PM secured...

• Dollar is trading cautiously ahead of FOMC with comparative outperformance seen in G10 counterparts.
• EU & Asian equities begin the week cautiously, amidst comments that the US are raising concerns over China with the WTO
• Looking ahead the highlight is NY Fed Manufacturing

• Asian equity markets began the week somewhat cautiously following the downbeat lead from Wall St. in which the three major bourses closed lower by around 2% each
• PM May’s Deputy David Lidington and Number 10 Chief of Staff Gavin Barwell dismissed reports from The Times that they were preparing for a second referendum behind PM May's back
• UK Attorney General Cox has reportedly told Cabinet Ministers that PM May must be “removed” after...

• Early EU sentiment undermined by disappointing Chinese data, EZ PMIs and negative Brexit rumblings
• Some respite as China looks set to temporarily lift retaliatory tariffs on US cars
• Looking ahead highlights include, US Retail Sales, Flash PMIs, Industrial Production and Baker Hughes rig count

• Asian equity markets were negative across the board as sentiment in the region soured following the lacklustre lead from Wall St and as region digested disappointing data from China
• In FX markets, the DXY consolidated just above the 97.00 level with price action kept range-bound by mixed trade in the greenback’s major counterparts
• EU reportedly strengthened the wording on Brexit backstop in summit document and reiterated it doesn't seek to use Brexit backstop, however EU leaders said the...

• UK PM May leadership challenge submitted by 1922 committee, with results due at 21:00GMT/16:00EST
• US-China trade tensions marginally subside as Trump says telephone negotiations are underway
• Looking ahead, highlights include US CPI & Real Weekly Earnings, Brazilian Interest Rate Decision, US 10yr Auction

• Asian stocks traded higher across the board with sentiment underpinned as news flow spurred optimism regarding US-China trade relations
• Multiple sources in the UK believe that the 48 letter threshold has been reached to trigger a confidence vote in UK PM May; yet to be confirmed
• Most major FX pairs attempted to nurse losses against the greenback with EUR and GBP regaining some ground vs. the USD
• Looking ahead, highlights include...

• China reportedly looking to move forward with US Auto Tariff reduction lifts equity futures further as risk-on tone returns
• Cable climbing as UK PM May returns to Brussels for compromise
• Looking ahead, highlights include US PPI, US 3yr Note Auction, PM May meeting EU’s Juncker & Tusk

• Asian equity markets were mixed as sentiment in the region only found mild solace from the tech-led recovery on Wall St.
• A source said Brexit vote could take place in early January, although a spokesman for UK PM May said doesn't think PM May established a new Brexit deal vote date
• Reports suggest Italian PM Conte is targeting a 2.1% deficit, whilst Deputy PMs Salvini and Di Maio refuse a deficit of below 2.2% and the EU demand a target of 1.95%
• Looking ahead, highlights include UK...

• Mixed reports on meaningful vote deal leads to a meandering GBP
• Risk sentiment remains soft, as trade uncertainty remains at the forefront
• Looking ahead, highlights include US JOLTS, BoC’s Lane and BoE’s Cunliffe

• European equities extend cash-open gains as the region following the rebound seen on Wall St
• Oil trades choppy as OPEC talks come to a standstill with Iran remaining an obstacle
• Government sources state that the UK meaningful vote on PM May’s deal will take place on December 11th
• Looking ahead, highlights include US and Canadian Jobs Reports, US EIA Natural Gas Storage Fed's Brainard Speaking, OPEC+ Meeting in...