RANsquawk EU Open Rundown 07.06.17
07 Jun 2017, 07:00
- Asian equities saw little in the way of firm direction as participants remained weary ahead of a slew of upcoming key risk events
- AUD took focus overnight in FX markets following better than expected domestic Y/Y GDP data
- Looking ahead, highlights include Eurozone GDP and DoE Inventories
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UK Election Preview June 8th: Exit poll 2200BST/1600CDT
06 Jun 2017, 14:30
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Why has a Snap Election been called?
On April 18th PM Theresa May surprised many by calling for a snap election for June 8th . May stated that her reason in doing so was to “strengthen her hand in Brexit negotiations”. While at the time that the snap election had being called, the Conservative party had a commanding 20ppt lead in the opinion polls, an opportunity that may not occur again. As...Categories:
RANsquawk EU Open Rundown 06.06.17
06 Jun 2017, 06:54
- AUD pared initial weakness after the RBA kept rates unchanged as expected while striking an overall neutral tone
- Asian equities traded mostly lower with underperformance in the ASX and the Nikkei 225 hampered by a firmer JPY
- Looking ahead, highlights include US APIs and the NZ GDT Index
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RANsquawk EU Open Rundown 05.06.17
05 Jun 2017, 06:55
- Middle east tensions see crude prices jump over 1% as several nations cut ties with Qatar.
- Subdued trade in Asia following Saturday’s terrorist attack in London.
- Looking ahead, highlights include UK Services PMI, US ISM Non-Manufacturing PMI and Factory Orders.
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Key Events: -Monday: UK Services PMI (May), China Caixin Services PMI (May)Tuesday: RBA MonPol DecisionWednesday: Australian GDP (Q1)Thursday: ECB MonPol Decision, UK General Election, Japan GDP (Q1, F) Chinese Trade Balance (May)Friday: Canadian Labour Market Report (May), China Inflation Data (May)North America: -Ex-FBI...
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RANsquawk EU Open Rundown 02.06.17
02 Jun 2017, 06:53
- Asian equities benefited from the increased risk-appetite after all tspanee major US indices posted record highs following strong data
- FX price action centered around JPY, with USD/JPY and JPY-crosses lifted as the heightened risk appetite spurred outflows from the safe-haven currency
- Looking ahead, highlights include US jobs report, Fed’s Harker and...
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US Employment Situation Report Preview May 2017
01 Jun 2017, 18:44
EXPECTATIONS:- The consensus looks for 185k nonfarm payrolls to be added to the US economy in May, compared to 211k added in April. That would be in line with the 185k/month pace seen in 2017 thus far.- The unemployment rate is forecast to hold steady at 4.40%, beneath the FOMC’s NAIRU projection between 4.70% and 5.00% (made in its March forecasts). It would also be firmer than the Fed’s end-2017 forecast for unemployment of 4.50%.EARNINGS DATA:-...
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RANsquawk EU Open Rundown 01.06.17
01 Jun 2017, 06:59
- Asian equities saw mixed performance with the Nikkei 225 supported by domestic data while soft Caixin PMI weighed on the Shanghai Comp.
- AUD underperformed due to soft Chinese data despite strong Australian numbers. Polls remain in focus for GBP
- Looking ahead, highlights include Eurozone and UK Mfg. PMI, ADP, ISM Mfg. PMI, DoEs and a slew of central bank...
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RANsquawk EU Open Rundown 31.05.17
31 May 2017, 06:54
- The latest YouGov has projected the UK Conservative party to fall 16 seats short of an overall majority with 310 seats
- Asian equities traded relatively mixed as China returned to market and was greeted by encouraging PMI data
- Looking ahead, highlights include Eurozone CPI, Canadian GDP, Chicago PMI, ECB’s Coeure, Lautenschlager, Fed’s...
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RANsquawk EU Open Rundown 30.05.17
30 May 2017, 07:04
- EUR saw pressure overnight amid reports Greece could opt out of their next payment if creditors fail to agree on debt relief
- Asian equities were relatively subdued overnight due to holiday-thinned trading conditions
- Looking ahead, highlights include German regional & national CPIs, US Personal Spending, PCE data
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RANsquawk EU Open Rundown 29.05.17
29 May 2017, 06:55
Asian equities saw an indecisive session amid holiday-thinned conditions while North Korea conducted another missile testFX markets were also relatively rangebound with the USD-index holding onto Friday’s gainsLooking ahead, highlights include ECB’s Draghi. UK and US markets closed.**Desk will shut at 1630BST on Monday 29th and reopen at 2200BST for Asia-Pac Coverage on May 29th. (See website for full...
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The early part of the week will see lower liquidity with the US and UK markets closed on Monday, and China away on both Monday and Tuesday.US: -While the market is almost certain that the FOMC will hike rates by 25bps at its mid-June meeting, Fed Funds Futures are still only implying a rate of around 1.25% in January 2018, indicating doubts around the Fed’s March guidance that it is on course to lift rates to 1.25-1.50% in 2017.In particular, per the Fed’s May...
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RANsquawk EU Open Rundown 26.05.17
26 May 2017, 06:54
- Asian equities traded broadly softer with underperformance in the ASX amid OPEC-inspired softness in energy names
- GBP/USD trades softer as the Labour Party continues to gain ground on the Conservatives ahead of next month’s election
- Looking ahead, highlights include US Durable Goods, University of Michigan and ECB’s Coeure
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RANsquawk EU Open Rundown 25.05.17
25 May 2017, 07:19
- FOMC Minutes saw USD and treasury yields back up after the FOMC thought it was prudent to wait for further evidence that recent weak data was transitory before hiking again
- The subsequent upside in US equities filtered tspanough to Asia-Pac trade while WTI and Brent crude saw mild gains ahead of OPEC
- Looking ahead, highlights include UK GDP, OPEC Meeting, Fed’s Brainard and ECB’s...
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RANsquawk’s Quick Take On The Federal Reserve’s May Meeting Minutes
24 May 2017, 20:02
Key Points: -- The Federal Open Market Committee (FOMC) thought it was prudent to wait for further evidence that recent weak data was transitory before hiking again.- Officials said they expected weakness would pass and that it would “soon be appropriate” to raise rates if those expectations were met.- In general, Fed officials said their assessment of the economy had changed little since the March policy meeting, with the labour market continuing to improve and risks...
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RANsquawk EU Open Rundown 24.05.17
24 May 2017, 06:54
- Asian bourses traded mixed with downside in Chinese indices after Moody’s downgraded China’s Sovereign rating
- UK PM May said UK terror tspaneat level has been raised to critical from severe, which suggests a further attack could be imminent
- Looking ahead, highlights include US Building Permits, Existing Home Sales, DoE Inventories, FOMC Minutes, BoC Rate Decision, ECB’s Praet and Draghi ...
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RANsquawk EU Open Rundown 23.05.17
23 May 2017, 06:55
- Asian equities traded with a mildly cautious tone amid reports of a terrorist incident in Manchester with macro newsflow otherwise light
- In FX, reports of the Manchester explosion triggered safe-haven flows into JPY with USD/JPY briefly falling below 111.00, while GBP/JPY was the notable underperformer
- Looking ahead, highlights include Eurozone PMIs, German IFO and a slew of central bank...
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RANsquawk EU Open Rundown 22.05.17
22 May 2017, 06:56
- Asian equities traded mostly higher despite ongoing geopolitical concerns with outperformance in the ASX amid upside in energy and material names
- GBP/USD slipped back below 1.3000 as PM May’s lead in the latest YouGov poll narrowed
- Looking ahead, highlights include Fed’s Kashkari and Harker
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RANsquawk EU Open Rundown 19.05.17
19 May 2017, 06:54
- Asian equities traded with little in the way of firm direction amid light newsflow after US stocks posted a modest rebound from Wednesday’s losses
- GBP staged another ‘flash crash’ falling around 100 pips in 12 seconds during US hours amid no new fundamental news
- Looking ahead, highlights include Canadian retail sales, ECB’s Praet, Coeure, Constancio and Fed’s...
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RANsquawk EU Open Rundown 18.05.17
18 May 2017, 06:55
- Asian equities took the lead from their US counterparts whereby sentiment was hampered by the ongoing political tensions in Washington
- Subsequently, the USD-index continued to drift lower while chances of a June Fed hike begin to recede
- Looking ahead, highlights include UK retail sales, Philadelphia manufacturing, Fed’s Bullard, Mester, ECB’s Mersch, Draghi and...
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RANsquawk EU Open Rundown 17.05.17
17 May 2017, 06:56
- Asian equities traded with caution after US equity futures saw pressure following the latest developments in the FBI saga
- JPY strengthened as the cautious tone triggered flows into safe-haven assets which saw USD/JPY break firmly below 113.00
- Looking ahead, highlights include the UK labour report, Eurozone CPI and the DoE Inventory report
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RANsquawk EU Open Rundown 16.05.17
16 May 2017, 06:55
- Asian equities failed to benefit from the energy-inspired gains seen on Wall Street with the Nikkei 225 stopping just shy of 20,000
- USD/JPY and JPY-crosses traded choppy with the early upside reversed, as sentiment soured and spurred flows into safe-haven JPY
- Looking ahead, highlights include UK inflation, German ZEW, US Building Permits, Housing Starts, ECB’s Nowotny and...
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RANsquawk EU Open Rundown 15.05.17
15 May 2017, 06:55
- Asian equities traded with no firm direction as the region digested mixed Chinese data and mounting geopolitical tensions
- In FX, JPY was supported by safe-haven flows while NZD was lifted by upbeat domestic retail sales
- Looking ahead, highlights include US NY Empire State Manufacturing Index and ECB’s Praet
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RANsquawk EU Open Rundown 12.05.17
12 May 2017, 06:55
- Overnight trade saw an overall lack of pertinent macro newsflow with Asian equities subsequently trading with little in the way of firm direction
- Similar price action was also observed in FX markets with GBP/USD unable to recoup yesterday’s BoE-inspired losses
- Looking ahead, highlights include US CPI, Retail Sales, Uni. Of Michigan, Fed’s Evans, Harker and ECB’s...
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RANsquawk EU Open Rundown 11.05.17
11 May 2017, 06:58
- NZD/USD fell over a point to 11-month lows as the RBNZ struck a more dovish than anticipated tone and remained in favour of accommodative policy
- Asian equities were kept afloat by upside in energy names in the wake of yesterday’s DoE report
- Looking ahead, highlights include UK Industrial and Manufacturing Production, BoE policy announcement, ECB’s Constancio, Praet and Fed’s...