RANsquawk EU Open Rundown 27.09.17
27 Sep 2017, 06:56
Asian equities saw a lack of firm direction overnight after a mixed close on Wall Street which saw the DJIA post its 4th consecutive lossFed Chair Yellen reiterated that a gradual approach to rate hikes is appropriate but also warned of moving too graduallyLooking ahead, highlights include US durables, Pending Home Sales, DoE, RBNZ rate decision and further central bank speakASIAAsia equity markets were mixed amid a lack of catalysts and after similar indecisiveness on Wall St....
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RANsquawk EU Open Rundown 26.09.17
26 Sep 2017, 06:56
Asian equities traded with little in the way of firm direction as equity markets sspanugged off mounting geopolitical tensionsNZD extended on post-election losses with disappointing domestic data adding to the woes for the Antipodean currencyLooking ahead, highlights include US new home sales, APIs, ECB’s Praet, Fed’s Mester and Brainard, US 2yr note auctionASIAAsia equity markets lacked any solid direction after the weak momentum from US where all 3 major indices closed negative...
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RANsquawk EU Open Rundown 25.09.17
25 Sep 2017, 06:58
This weekend saw elections in Germany and New Zealand whereby the incumbents both claimed victory but failed to secure a majorityThis subsequently hampered NZD and to a lesser extent EUR with both main parties now eyeing coalition talksLooking ahead, highlights include German IFO, and a slew of central bank speakersASIAAsia equity markets began the week subdued as FX took much of the focus amid post-election hangovers from New Zealand and Germany where the incumbents in both won...
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RANSQUAWK WEEK IN FOCUS: Is Anyone Tired Of Politics Yet? Oh And The RBNZ Meets As Well….
22 Sep 2017, 18:23 by Samuel Indyk
Key Events: -
Monday: UK-EU Brexit Talks Commence
Tuesday:
Wednesday: UK GDP (Q2, F)
Thursday: RBNZ MonPol Decision, US GDP (Q2, F)
Friday: US PCE Price Data (Aug), Eurozone Inflation (Sep, P), Canadian GDP (Jul)
Politics:...
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PREVIEW: German Federal Election 24th September 2017
22 Sep 2017, 10:16
On 24th September German voters will take to the polls to elect representatives to the 19th Bundestag. Polling stations will close at 1700BST, after which the first exit polls will be published. Once members have been elected, a Chancellor will then be appointed by an absolute majority; leading the way to form an actual government.VOTING SYSTEMIn order to get as representative system as possible, Germany uses a relatively complicated...
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RANsquawk EU Open Rundown 22.09.17
22 Sep 2017, 07:11
DAILY EUROPEAN OPENING NEWS: Asian equities faced selling pressure overnight amid tspaneats of further hydrogen bomb tests from North KoreaAsian equities faced selling pressure overnight amid tspaneats of further hydrogen bomb tests from North KoreaThe risk-off sentiment spurred flows into JPY. Focus for GBP remains on today’s speech by UK PM MayLooking ahead, highlights include Eurozone services and manufacturing PMIs, Canadian retail sales & CPI, UK PM May and a slew of central bank...
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Preview: OPEC/non-OPEC Joint Ministerial Monitoring Committee Meeting, Friday 22nd September 2017
21 Sep 2017, 17:47
The Organisation of the Petroleum Exporting Countries (OPEC) has capped its joint output at 32.5mln bpd since 1st January 2017, representing a 1.2mln bpd reduction from the October 2016 (chosen benchmark) levels (except for Angola for which September 2016 is used). Some non-OPEC producers also joined the pact, the most notable being Russia, bringing the total pledged production cut up to 1.8mln bpd. The current OPEC/non-OPEC production deal is set to expire in March 2018.The Joint Monitoring...
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RANsquawk EU Open Rundown 21.09.17
21 Sep 2017, 06:56
FOMC announced plan to begin balance sheet normalization as anticipated, and suggested increased prospects of a 3rd rate hike for 2017The USD strengthened and yields rose after the decision as markets have to reprice expectations of hikesLooking ahead, highlights include weekly jobs data, Philly Fed, ECB’s Praet and Draghi FED DECISIONThe FOMC confirmed plans to begin sspaninking the balance sheet in October, following the schedule set out in July.The fed kept the FFR...
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RANsquawk EU Open Rundown 20.09.17
20 Sep 2017, 06:55
Asian equities and FX traded with little in the way of firm direction overnight as markets await today’s FOMC policy announcementUK PM May intends to make a EUR 20bln Brexit payment offer to the EU, according to the FTLooking ahead, highlights include UK retail sales, DoEs and the FOMC announcement & press conferenceASIAAsia stock markets saw an indecisive trading day amid a cautious tone ahead of today’s FOMC announcement. The looming risk event initially sapped the momentum from...
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RANsquawk EU Open Rundown 19.09.17
19 Sep 2017, 07:04
Asian equity markets traded with a cautious tone as the FOMC draws closer and after the region failed to maintain the early impetus from USFX trade was relatively tentative overnight. GBP/USD nursed yesterday’s Carney-inspired losses while CAD was hampered by comments from BoC’s LaneLooking ahead, highlights include German ZEW, NZ Dairy Auction and US APIsASIAAsia equity markets traded with a cautious tone as the FOMC draws closer and after the region failed to maintain the early...
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RANsquawk EU Open Rundown 18.09.17
18 Sep 2017, 06:58
Asian equities traded higher (Japan away from market) following a strong close in the US on FridayIn FX, USD/JPY and JPY-crosses extended on last week’s upside as the positive risk sentiment spurred further outflows from the safe-haven JPYLooking ahead, highlights include Eurozone CPI, ECB’s Lautenschlaeger, BoE’s Carney and BoC’s Lane ASIAAsia equity markets began the week on the front foot after last Friday’s gains in US, where all majors eked fresh record levels and the...
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WEEK IN FOCUS: Fed & BoJ Set To Convene, With Eyes On German & NZ Elections
15 Sep 2017, 17:58 by Samuel Indyk
WEEK IN FOCUS: Fed & BoJ Set To Convene, With Eyes On German & NZ Elections
Key Events: -
Monday:
Tuesday: RBA Meeting Minutes
Wednesday: FOMC Monetary Policy Decision, UK Retail Sales (Aug)
Thursday: BoJ MonPol Decision, New Zealand GDP (Q2), Norges Bank MonPol Decision ...
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RANsquawk EU Open Rundown 15.09.17
15 Sep 2017, 07:13
Asia equity markets traded mostly negative after North Korea launched a missile that flew tspanough Japanese airspaceThis prompted Japan to issue an emergency warning for its residents and South Korea conducted its own missile test as a show of readinessLooking ahead, highlight include the Russian rate decision, US retail sales, industrial output, Uni. of Michigan, ECB’s Mersch, BoE’s Vlieghe and ECB’s LautenschlagerASIAAsia equity markets traded mostly negative after North Korea...
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RANsquawk Quick Take: BoE Points To The “Next Few Months” As It Delivers A 7-2 Split To Remain On Hold
14 Sep 2017, 13:40
- MPC voted 7-2 in favour of keeping rates unchanged at 0.25%, as widely expected- MPC voted 9-0 in favour of maintaining the stock of corporate and government bond purchases.- Rhetoric was on the hawkish side, which was ultimately the driver of markets in the wake of the decision.- A Reuters weighted basket of interest rate swaps and futures is now fully pricing a hike for March of 2018 (August 2018 was fully...
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RANsquawk Quick Take: SNB Tweaks CHF Language, But The Dovish Message Is Reaffirmed Alongside A Cut In GDP Forecasts
14 Sep 2017, 09:27
The Swiss National Bank left its 3-month Libor target band unchanged at -1.25% to -0.25%, with the sight deposit rate left at -0.75%, in line with the universal consensus.The Full SNB statement is available here.All eyes were on the SNB’s rhetoric surrounding the CHF. The central bank tweaked its comments on the domestic currency stating that “recent development is reducing, to some...
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RANsquawk EU Open Rundown 14.09.17
14 Sep 2017, 06:56
Asian equities traded with little firm direction as markets awaited key data releases and central bank announcementsAUD was once again a key focus in FX markets as gains from the Australian jobs report were trimmed by disappointing Chinese dataLooking ahead, highlights include SNB and BoE rate decisions, US CPI, weekly jobs, ECB’s Mersch and WeidmannASIAAsia equity markets were lacklustre with a non-committal tone seen for most of the day after the cautious gains in the US and as...
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RANsquawk EU Open Rundown 13.09.17
13 Sep 2017, 06:56
Asian equities traded with little direction as the positive momentum from Wall Street was offset by weakness in Apple suppliersThe greenback remained subdued to the benefit of its major counterparts while AUD/USD put in a mixed performanceLooking ahead, highlights include UK jobs report, US PPI, DoEs, ECB’s Praet, German Bund, UK 10yr and US 30yr Bond AuctionASIAAsia equity markets traded mixed as the momentum from Wall St. was counterbalanced by weakness in Apple suppliers...
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RANsquawk EU Open Rundown 12.09.17
12 Sep 2017, 06:58
Asian bourses traded mostly higher once again with JPY weakness boosting Japanese exportersIn politics, UK Parliament passed the Brexit Bill and Norway’s ruling centre-right government won re-electionLooking ahead, highlights include UK CPI, potential comments from ECB’s Constancio and a US 10yr AuctionASIAThe positive momentum from the somewhat reduced North Korean concerns continued to drive stocks higher as Asia bourses traded mostly positive, which also followed a strong...
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RANsquawk EU Open Rundown 11.09.17
11 Sep 2017, 06:55
Asian equities were lifted after North Korea refrained from conducting a missile test over the weekendThe heightened risk appetite triggered outflows from safe-haven currencies JPY and CHF, in which USD/JPY rose firmly above 108.00Looking ahead, highlights include potential comments from ECB’s CoeureASIAAsia bourses began the week on the front-foot amid a relief rally after North Korea refrained from firing a missile over the weekend and instead launched a tirade of...
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RANSQUAWK WEEK IN FOCUS: BoE & SNB Headline, With Pyongyang Still Worrying Markets
08 Sep 2017, 17:47
Key Events: - Monday:Tuesday: UK Inflation Data (Aug)Wednesday: UK Labour Market Report (Jul/Aug)Thursday: Bank Of England Decision, SNB Decision, US CPI (Aug), Australian Labour Report (Aug), UK Retail Sales (Aug)Friday: Early sentiment is likely to be dictated by weekend events centring on North Korea. Saturday 9th September marks a national...
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RANsquawk EU Open Rundown 08.09.17
08 Sep 2017, 07:19
Asian equities saw little in the way of firm direction as the region digested Chinese trade and Japanese GDPUSD woes persisted overnight as Asia-Pac currencies took a swipe at the greenback which saw AUD/USD break above 0.8100Looking ahead, highlights include UK industrial and manufacturing output, Canadian jobs report and Fed’s HarkerASIAAsia equity markets traded mixed following similar indecisiveness in US and as the region digested a slew of economic releases including Japanese...
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RANsquawk Quick Take: ECB Kicks The Can Down The Road To October, Details Light, Time-Frame Narrowing
07 Sep 2017, 15:39
The European Central Bank left its monetary policy settings unchanged as expected. The main refinancing rate stands at 0.00%, while the deposit and marginal lending facility rates stand at -0.40% and 0.25% respectively. The pace of QE was confirmed at EUR 60bln per month and is scheduled to run until December “or beyond, if necessary.”The accompanying statement was a carbon copy of that issued in July’s (today’s...
RANsquawk EU Open Rundown 07.09.17
07 Sep 2017, 06:55
Asian equities traded with little in the way of firm direction despite the positive Wall St. close after congress agreed to raise the debt ceilingAUD/USD was once again a key focus for markets as initial gains were trimmed by disappointing dataLooking ahead, highlights include Riksbank & ECB rate decisions, US weekly jobs and DoEsASIAAsia stock markets were mixed as the region somewhat failed to maintain the positive momentum from Wall St. where stocks gained after US President...
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RANsquawk Quick Take: Bank Of Canada Delivers “Surprise” 25bps Hike
06 Sep 2017, 15:59
The BoC defied the bulk of economists today, as it hiked its benchmark overnight rate by 25bps to 1.00%, the second consecutive meeting where the BoC has delivered such a move. Only 6 of the 33 surveyed in the latest Reuters Poll expected the BoC to tighten policy today while interest rate markets were pricing a 45% chance of such a move.In terms of the hike, the BoC was of the view that “today’s removal of some of the considerable monetary policy stimulus in place is warranted. Future monetary policy...