• US President Trump denounces Chequers deal and said a soft Brexit would probably kill a potential future trade deal between UK and US
• Sterling slipping, Dxy rising above 95.000 and equities up approaching week-end
• Looking ahead, highlights include, Uni. of Michigan Sentiment, Baker Hughes, BoE’s Cunliffe, Fed’s Bostic, earnings from Wells Fargo, and Citi

ASIA

Asian equity markets were mostly higher as the region took impetus from the upside in...

• Asian equity markets were mostly higher as the region took impetus from the upside in Wall St
• US President Trump has warned UK PM May that a soft Brexit would probably kill a potential future trade deal between UK and US
• Looking ahead, highlights include Uni. of Michigan Sentiment, Baker Hughes, BoE’s Cunliffe, Fed’s Bostic, earnings from Wells Fargo, JP Morgan and Citi

ASIA

Asian equity markets were mostly higher as the region took impetus...

• Mixed reports that US President Trump is to exit NATO after the Chinese Commerce Ministry rubbished suggestions that there had been contact with the US on trade
• Choppy trade in equities while commodities find some relief after sharp losses in Wednesday’s trade
• Looking ahead, highlights include, ECB minutes, US CPI, weekly jobs figures, supply from the US

ASIA

Asian equity markets shrugged off the energy-led declines in US and traded higher across the board with...

• Asian equity markets shrugged off the energy-led declines in US and traded higher across the board
• FX markets were flat overnight amid a lack of tier-1 data releases, which kept the DXY at the prior session’s highs
• Looking ahead, highlights include Riksbank and ECB minutes, US CPI, weekly jobs figures, supply from Italy and the US

ASIA

Asian equity markets shrugged off the energy-led declines in US and traded higher across the board with short...

• US begins the process for installing 10% tariffs on USD 200bln of Chinese imports
• European equities hit and investors ditch high-beta currencies as risk-off tone returns
• Looking ahead, highlights include, US PPI, DoEs, BoC rate decision, supply from Germany and the US, ECB’s Mersch, BoE’s Carney, BoC’s Poloz and Fed’s Williams

TRADE

US Trade Representative Lighthizer announced US will impose tariffs of 10% on additional USD 200bln...

• US Trade Representative Lighthizer announced US will impose tariffs of 10% on additional USD 200bln of goods from China
• Asian stocks slumped across the board. The risk averse tone spurred flows into safe-haven JPY which briefly dragged USD/JPY below the 111.00 handle
• Looking ahead, highlights include US PPI, DoEs, BoC rate decision, supply from Germany and the US, ECB’s Draghi, Villeroy, Praet, Mersch, BoE’s Carney, BoC’s Poloz and Fed’s...

• Surprise UK Industrial Output miss reverses GBP early rise, German ZEW conditions miss hits EUR
• European equities largely higher following in step with Asia in a news-thin morning
• Looking ahead, highlights include, APIs and ECB’s Lautenschlaeger

ASIA

Asian equity markets traded mostly higher on the momentum from Wall St where the DJIA notched its best performance in a month, and financials outperformed on optimism heading into...

• Asian equity markets traded mostly higher on the momentum from Wall St where the DJIA notched its best performance in a month
• The head of the Conservative 1922 Committee indicated that he did not receive the 48 letters required for a leadership challenge
• Looking ahead, highlights include Norwegian CPI, UK monthly GDP, output, trade, German ZEW, APIs, ECB’s Lautenchlaeger

ASIA

Asian equity markets traded mostly higher on the momentum from Wall St...

• UK agrees on white paper proposal with Dominic Raab announced as new UK Brexit Secretary; David Davis resigns
• European Equities in the green but FTSE underperforms on a stronger GBP
• Looking ahead, highlights include, ECB’s Praet, Draghi and Fed’s Kashkari

ASIA

Asian stocks began the week higher across the board as the region followed suit to Wall St’s performance on Friday after a Goldilocks US jobs report. The broad appetite for risk...

• Asian stocks began the week higher across the board as the region followed suit to Wall St’s performance on Friday
• UK Brexit Secretary Davis resigned, stating that PM May’s policy is now more likely to break the manifesto pledge and leaves the UK in a weak negotiating position
• Looking ahead, highlights include German trade, ECB’s Praet, Draghi and Fed’s Kashkari

ASIA

Asian stocks began the week higher across the board as the region...

Monday: German Trade Balance

Tuesday: German ZEW Survey, UK Industrial Production, UK GDP (Monthly)

Wednesday: BoC Interest Rate Decision & MPR, US PPI

Thursday: US CPI, German CPI (Final), ECB Minutes

Friday: Chinese Trade Balance, JPM, Wells Fargo and Citi report earnings

• Limited reaction seen across asset classes as China/US tariffs are imposed ahead of NFP
• Reports of JP Morgan taking a stake in Deutsche Bank refuted
• Looking ahead, highlights include US NFP, US trade, Canadian jobs, Baker Hughes

ASIA

Asian stocks traded higher after the positive momentum from Wall St’s best performance in over a month followed through to Asia. ASX 200 (+0.9%) and Nikkei 225 (+1.1%) were positive as both indices took impetus from...

• FOMC Minutes noted concern on trade policy risks but didn’t suggest anything that would likely swerve the Fed from its hiking path
• UK PM May is to unveil plans that involve UK agreeing to a formal treaty with EU post-Brexit that will tie the UK to Brussels rules on goods
• Looking ahead, highlights include US NFP, US trade, Canadian jobs, Baker Hughes

FOMC MINUTES

Most Fed policymakers said trade policy risks has intensified and were concerning, while...

• European equities positive as auto names drive gains, on suggestions that US is ready to give car tariffs a break
• UK markets react to an upbeat Carney after the BoE chief suggests Q1 softness was largely due to weather
• Looking ahead, highlights include, US ADP, ISM non-MFG, DOEs, FOMC minutes, and ECB’s Weidmann and Mersch

ASIA

Asian equity markets were cautious from the open ahead of this week’s key risk events and following the US holiday...

• Asian equity markets were cautious from the open with sentiment later deteriorating as focus turned to the looming July 6th tariffs
• UK Brexit Secretary Davis has written to PM May in a last-ditch attempt to warn her that her Brexit plan to be presented at Chequers is unworkable
• Looking ahead, highlights include US ADP, ISM non-MFG, DOEs, FOMC minutes, supply from Spain and France and a slew of speakers

ASIA

Asian equity markets were cautious from the open...

• Asian shares traded lower, led by Chinese markets
• USD mostly lower; USD/CNY steadies despite weaker fix amid reports Chinese state banks were selling USD
• Looking ahead, highlights include PMIs from Europe and the UK; US markets closed for Independence Day

ASIA

Asia stocks traded lower following a subdued lead from the holiday-shortened US session, where all majors finished in the red and tech underperformed as Micron shares tumbled almost 7% after losing...

• Wall Street gains and CDU/CSU immigration agreement leads EU stocks into the green
• Riksbank leaves rates and rate path unchanged, but opposition from Floden and Ohlssen pushes SEK higher
• Looking ahead, highlights include, US factory orders, APIs and ECB’s Praet

ASIA

Asian stocks traded mixed as the region failed to take full advantage of the tail wind from the tech-led recovery on Wall St and early bargain hunting following the prior day’s hefty declines. ASX...

• Asian stocks traded mixed as the region failed to take full advantage of the tail wind from the tech-led recovery on Wall St
• In FX, DXY remained firm overnight, RBA was a non-event for AUD, USD/CNH higher by over 4 points after the PBoC set the weakest fix since August last year
• Looking ahead, highlights include Riksbank rate decision, UK construction PMI, US factory orders, APIs, ECB’s Praet

ASIA

Asian stocks traded mixed as the region failed to...

• Asian stocks traded mixed as the region failed to take full advantage of the tail wind from the tech-led recovery on Wall St
• In FX, DXY remained firm overnight, RBA was a non-event for AUD, USD/CNH higher by over 4 points after the PBoC set the weakest fix since August last year
• Looking ahead, highlights include Riksbank rate decision, UK construction PMI, US factory orders, APIs, ECB’s Praet

ASIA

Asian stocks traded mixed as the region failed to...

• Risk tone soured in Europe as US tariffs concerns and German political instability lead all equity markets into negative territory
• US President Trump said he spoke to Saudi Arabia’s King Salman on raising production by as much as 2mln barrels and that prices were too high, which the Saudi ruler agreed with
• Looking ahead, highlights include, US mfg PMIs, US construction spending, ISM manufacturing and ECB’s Praet

ASIA

Asian equity markets began...

• Asian equity markets began H2 indecisively with the region constrained by disappointing data releases including Chinese Official & Caixin Manufacturing PMIs
• EUR/USD hampered after CSU party leader Seehofer offered to resign amid the migration dispute
• Looking ahead, highlights include Eurozone, UK and US mfg PMIs, US construction spending, ISM manufacturing and ECB’s Praet

ASIA

Asian equity markets began H2 indecisive with the region constrained...

Central Banks

At the June meeting the Fed expectedly hiked interest rates by 25bps, however, the median now sees four hikes in 2018 from three previously. The decision was perceived as relatively hawkish as the Fed also dropped their reference that it expected interest rates to be below neutral for “some time”. Nevertheless, markets are still not fully believing the Fed and pricing for four rate hikes this year stands below 50%. Markets will be looking out for comments in...

• EU sentiment rebounds with equities all in the green as a deal is reached on migrants
• Positive UK GDP figure give GBP a lift
• Looking ahead, highlights include, US PCE, Canadian GDP, Chicago PMI, EU summit

ASIA 
Asian stocks initially struggled for direction and traded mixed for most the session with the ASX 200 (-0.3%) and Nikkei 225 (+0.1%) contained on month-, quarter- and half-year end rebalancing, while better than expected Industrial Production and a...

• Asian stocks initially struggled for direction before seeing a mild uplift after EU leaders reached an agreement on migration
• EUR/USD reclaimed the 1.1600 handle with most other majors benefitting from subsequent USD softness
• Looking ahead, highlights include German jobs, UK GDP (Q1), EZ CPI, US PCE, Canadian GDP, Chicago PMI, EU summit

ASIA

Asian stocks initially struggled for direction and traded mixed for most the session with the ASX 200 (+0.1%) and...

• European equities are lower across the board (Eurostoxx 50 -0.4%) as trade tensions continue to weigh on sentiment
• DXY remains above 95.00 in European trade after an early bout of strength (now off best-levels)
• Looking ahead, highlights include German national CPI, US GDP (F), weekly jobs, EU summit, BoE’s Haldane, US 7yr note auction

ASIA

Asian equity markets traded somewhat indecisive following the headwinds from Wall St where all major indices...