• The US confirmed tariffs on USD 200bln of Chinese imports effective September 24th which will begin at 10% and increase to 25% at year end. Trump vowed further tariffs if China retaliates to these measures
• China Vice Premier Liu He was said to convene a tariff response meeting, while there were separate reports suggested that China will likely not send a delegation to Washington for trade discussions
• Looking ahead, highlights include Hungarian rate decision,...

17th September 2018

• Asian equity markets began the week with a subdued tone after Trump reportedly told advisers to proceed with tariffs on a further USD 200bln of Chinese goods
• China reportedly may not participate in planned trade discussions with the US if the Trump administration goes ahead with additional tariffs
• The EU is secretly preparing to accept a frictionless Irish border after Brexit in a move that raises the prospect of PM May striking a deal by the end of the...

Key Events

14th September 2018

• Asian equity markets traded mostly higher as the region took impetus from the US where the S&P 500 notched a 4th consecutive gain
• Chinese data saw Industrial Production print in-line with expectations and Retail Sales beat, while Fixed Assets Investments growth declined to a fresh multi-year low
• BoE Governor Carney said MPC cannot cut rates to offset a no deal Brexit and that house prices would plummet in a no-deal scenario
• Looking ahead, highlights include the Russian rate decision,...

• TRY vs. USD weakens over 3% after Turkish President Erdogan wants Interest Rate cut ahead of expected hike
• Oil sliding as EIA says OPEC ramped up production to cover Iranian losses
• Looking ahead, highlights include, BoE, ECB & CBRT rate decisions, US CPI, weekly jobs, supply for the US

• Asian equity markets were mostly positive with sentiment underpinned by hopes of a de-escalation of the trade dispute after the US invited China for trade talks
• UK PM May is set to announce strict immigration controls as part of an olive branch to Brexiteers. Reports still suggest that her tenure remains under threat
• Looking ahead, highlights include IEA Monthly oil report, BoE, ECB & CBRT rate decisions, US CPI, weekly jobs, supply for Italy and the...

• Dark clouds clearing for UK PM May as ERG downplays overthrow but presents an alternate Brexit deal
• Oil extends previous sessions gains post API’s as Hurricane Florence approaches the Carolinas
• CAD extends overnight gains NAFTA nears a perfect storm on dairy access
• Looking ahead, highlights include, DoEs, Fed’s Brainard & Bullard and supply from the...

• Asian equity markets were lower across the board after the region failed to sustain the early momentum from US
• Around 50 Conservative MPs opposed to PM May's Brexit plan have met to discuss how and when they could force her to stand down
• CAD was boosted by source reports Canada is prepared to allow US dairy access in NAFTA talks
• Looking ahead, highlights include US PPI, DoEs, Fed’s Brainard & Bullard, supply from...

• European equities sold off amid reports China is to ask WTO for trade sanction authorisation vs. the US
• UK Employment Report beats expectations, with Cable then volatile amidst various reports about 1.3100 barrier defence offers in decent size, stops, technical selling and even ‘fat finger’ trades
• Looking ahead, highlights include US Wholesale Inventories, APIs, OPEC meeting, supply from...

• Asian equity markets eventually traded mostly higher amid a similar performance in the US
• In FX, EUR/USD was quiet but managed to reclaim the 1.1600 handle nonetheless and GBP/USD remained firm above 1.3000
• UK Conservative Party Brexiteers are said to have failed to reach an agreement on an alternate Brexit plan
• Looking ahead, highlights include, UK jobs data, German ZEW, US Wholesale Inventories, APIs, OPEC meeting, supply from...

• BTPs strengthening on increased Italian budget confidence
• European equities marginally higher with FTSE MIB outperforming; FX majors seeing choppy trade
• Looking ahead the highlight is Fed’s Bostic

• Asian equity markets began the week mostly subdued following the lacklustre performance on Wall St last Friday after Trump doubled-down on his tariff threats against China
• In FX, EUR/USD and GBP/USD contained, while AUD/USD and NZD/USD eye a test on the 0.7100 and 0.6500 levels to the downside respectively
• EU are reportedly preparing to give instructions to EU Chief Brexit Negotiator Barnier to help achieve a Brexit deal. Meanwhile, Eurosceptic proposals...

Week In Focus:

• European equities trade slightly softer (Eurostoxx 50 -0.4%) following a negative lead from Asia
• EMs continue their re-emergence ahead of key US NFP data
• Looking ahead, highlights include, US & Canadian jobs reports, Baker Hughes rig count, Fed’s Rosengren, Mester, Kaplan and ECB’s de Guindos
• ASIA

• Asian equity markets traded lower following a lacklustre lead from Wall St where continued weakness in tech and underperformance in energy dragged most US majors lower
• US President Trump reportedly hinted that a trade fight with Japan could be next 
• In FX markets, the DXY was flat and consolidated around the 95.00 level as the greenback traded mixed against its major counterparts ahead of today’s key US jobs data
...

• European equities trade mixed with outperformance in the FTSE MIB again
• Markets gear up for an announcement as public consultation ends for USD 200bln worth of Chinese goods
• SEK is the main G10 mover and loser as the Riksbank rolled back its rate hike path and ruled out October
• Looking ahead, highlights include ADP Employment Change, Initial jobless claims, Durables revisions, ISM nonmfg PMI, DoEs, ECB’s Lautenschlaeger and...

• Asian equity markets traded mostly lower after a similar lead from US where the Nasdaq underperformed and the tech sector saw its worst performance in over a month
• In FX markets, the DXY remained subdued and tested the 95.00 level to the downside. JPY firmed following the Hokkaido earthquake
• Looking ahead, highlights include the Riksbank rate decision, ADP Employment Change, Durables revisions, ISM non-mfg PMI, DoEs, ECB’s Lautenschlaeger and...

• European equities trade on the backfoot (with the exception of the FTSE MIB) as the Eurostoxx 50 index falls over 1%
• DXY remains firmly above recent near 95.000 lows and mainly towards the top of today’s range, with broad gains vs almost all rivals
• Looking ahead, highlights include US & Canadian Trade, BoC rate decision, weekly API inventories, Fed’s Bullard, Kashkari, Bostic and Williams

• Asian equity markets traded lower across the board after the Labor Day hangover on Wall St amid ongoing trade uncertainty
• In FX markets, the greenback was relatively flat with price action subdued as its major counterparts attempted to nurse losses
• EU's Barnier has deemed PM May's Chequers plan as unacceptable. Separate reports suggest the EU could adjust the Irish border backstop to win UK's approval in Brexit negotiations
• Looking ahead, highlights include EZ, UK services...

• European equities trade mostly lower (Eurostoxx 50 -0.8%), with the core bourses unwinding gains and plunging into the red following a positive open
• A firm rebound in the DXY to almost 95.600 with ZAR hit even harder following an unexpected SA GDP contraction that means technical recession
• Looking ahead, highlights include ISM manufacturing, BoE’s Carney, Haldane, Tenreyro and Saunders, ECB’s Nowotny

• Asian equities were choppy with the region indecisive as trade-related concerns lingered and after a non-existent lead from the US
• In FX, the greenback was slightly firmer overnight. AUD was initially pressured by a wider than expected Current Account Deficit, but later found support following the RBA rate decision
• Rees-Mogg claims that he and Barnier, bonded in a meeting over their shared view that May’s Chequers plan is “complete rubbish”.
• Looking ahead, highlights...

• Asian equity markets traded mostly lower with the region cautious heading into an event-packed week
• This followed a lack of breakthrough in last week’s NAFTA related talks between US and Canada. Additionally, the public comment period for the proposed US tariffs on a further USD 200bln of Chinese goods is set to expire by Thursday
• GBP/USD was pressured and briefly fell below the 1.2900 handle on Brexit-related discord with EU’s Barnier said to...

• EU bourses have extended opening losses (Eurostoxx 50 -1.1%) heading into month end as Trump’s trade feuds with the China, EU and Canada sways sentiment
• Major FX pairs are relatively contained. EUR unfazed by soft EZ CPI, GBP awaits Brexit updates and EM once again in focus
• Looking ahead, highlights include Chicago PMI, ECB’s Nowotny and de Guindos