Newsquawk

Blog

  • APAC equities lacked firm direction, Hong Kong outpaced peers; US equity futures were mixed, NQ outperformed
  • In FX, the DXY tested but failed to breach 92.50 to the upside, USD/JPY fell under 110.00 and EUR/USD remained above 1.1800
  • Fed Chair Powell stated it is still appropriate that monetary policy remains highly accommodative and that the jobs market is still a ways off from progress needed to begin tapering
  • Chinese GDP Q/Q beat...
Categories:
  • European bourses hold a modest downside bias while US futures are mixed/flat; ES U/C & NQ +0.3%
  • The RBNZ kept its OCR unchanged but tilted more hawkish than was expected; NZD outperforms
  • USD is pressured with peers firmer but contained ex-NZD while core debt has bounced after strong German issuance
  • US Senate Democrats reached a USD 3.5tln budget deal for spending and tax plans; Biden to meet with Democrats...
Categories:
  • Asian equity markets traded mostly lower; US equity futures were also subdued
  • In FX, the DXY held on to most of the CPI-induced gains following a soft 30yr auction
  • US Senate Democrats reached a USD 3.5tln budget deal for spending and tax plans
  • The RBNZ kept its OCR unchanged but tilted more hawkish than was expected; NZD outperformed
  • Looking ahead, highlights include UK CPI, BoC & CBRT Policy Decisions, Fed's...
Categories:
  • European bourses and US equity futures are contained with mild outperformance in the NQ (+0.4%) vs the ES (U/C)
  • The DXY has been grinding higher with peers mixed/flat; USTs & EGBs are little changed
  • Chinese trade data topped estimates but Customs warned of many uncertainties and instabilities in H2 due to the pandemic
  • OPEC+ delegates believe the next ministerial meeting to discuss oil output policy won't occur until next month at the...
Categories:
  • Asia-Pac stocks traded higher across the board; Hong Kong outperformed and US equity futures were flat
  • In FX, the DXY was flat above 92.00, EUR/USD traded sideways and antipodeans outperformed
  • Chinese trade data topped estimates but Customs warned of many uncertainties and instabilities in H2 due to the pandemic
  • US President Biden's administration is said to be mulling a digital trade deal to counter China's digital presence in...
Categories:
  • European bourses began the session indecisive but have since dipped as broad risk sentiment slips, Euro Stoxx 50 -0.3%, ES -0.3%, RTY -0.8%
  • The DXY remains bid to the detriment of peers with high-betas suffering on COVID-19 concerns and crumbling commodities while USTs climb ahead of US supply
  • ECB's Lagarde said she sees a July policy change and that there will be a forward guidance review at the July meeting, while she sees possible measures for 2022 and noted that...
Categories:
  • MON: Riksbank Minutes (July), Eurogroup Meeting & Foreign Affairs Council
  • TUE: US CPI (Jun); Chinese Trade Balance (Jun); IEA MOMR, EU Economic/Financial Affairs Council
  • WED: BoC, RBNZ & CBRT Policy Decisions; UK Inflation (Jun); EZ Industrial Production (Jun); US PPI (Jun)
  • THU: BoK Policy Decision, OPEC MOMR; Australian Labour Market Report (Jun); Chinese GDP (Q2); UK Claimant Count (Jun) and Unemployment Rate (May); US Philly Fed...
Categories:
  • Asia-Pac stocks began the week on the front foot; Chinese markets conformed to the positive mood following the PBoC's surprise RRR cut on Friday
  • In FX, DXY was lacklustre, EUR/USD held onto its 1.1800 handle, GBP/USD stalled at 1.3900 and USD/JPY found a base at 110.00
  • ECB's Lagarde said she sees a July policy change and that there will be a forward guidance review at the July meeting, while she sees possible measures for 2022 and noted that PEPP may be followed by...
Categories:
  • European bourses are firmer as risk-sentiment recovers from yesterday's pressure though US futures remain mixed and comparatively more contained
  • The DXY is pressured at session lows with G10 peers supported across the board ex-JPY after yesterday's notable rally
  • Core debt has pulled-back given the broader tone with yields elevated though significantly lower on the week as focus turns to Monday's US supply
  • PBoC has cut the RRR by 50bps;...
Categories:
  • Asia-Pac bourses resumed the downtrend seen across global counterparts which dragged Wall Street back from record highs
  • The US is to add additional Chinese entities to its economic blacklist over human rights abuses in Xinjiang
  • In FX, the DXY remains sub-92.50, EUR/USD and GBP/USD sit on 1.18 and 1.37 handles respectively
  • ECB sources said policymakers failed to agree on new policy guidance; will be revisited on July...
Categories:
  • European bourses, US equity futures and the crude complex are pressured with safe-haven assets outperforming as the tone deteriorates pre ECB events & US data
  • The DXY is pressured but holding just above yesterday's trough with peers mixed and safe-haven JPY & CHF the clear outperformers; USD/JPY convincingly sub-110.00
  • USTs and EGBs are bid and the US yield curve is bull-flattening with focus on -0.35% for the Bund yield
  • Japan has...
Categories:
  • Asian equity markets were mostly subdued as tailwinds from the modest gains in the US were offset by virus concerns and lingering China-related frictions
  • FOMC minutes noted that the Fed has not yet seen the standard of 'substantial further progress' as having been met yet
  • Minutes also noted that data was providing a less clear signal about underlying momentum
  • The ECB is set to allow for some overshoot of its new inflation goal which is...
Categories:
  • European bourses are firmer though US futures are little changed, Euro Stoxx 50 +0.4%, ES +0.1%, amid relatively quiet newsflow pre-FOMC minutes
  • Crude has continued to consolidate amid limited OPEC+ updates and attention turning to US base attacks in Syria and Iraq
  • USD is off best levels and now little changed with peers mostly firmer though JPY lags after failing to convincingly surpass 110.50
  • China has completed the release of 100k/T of...
Categories:
  • Asian equities traded subdued with risk appetite dampened by China crackdown concerns and soft US ISM data
  • US indices finished mostly in the red although growth and tech were underpinned and lifted the Nasdaq to fresh record highs
  • In FX, the DXY remains above 92.50, EUR/USD and GBP/USD languish on 1.18 and 1.38 handles respectively
  • In commodities, WTI crude has steadied on a USD 73.00/bbl handle, whilst spot gold lost 1,800/oz...
Categories:
  • European bourses are mixed/lower, Euro Stoxx 50 -0.2%, in relatively quiet newsflow aside from mixed ZEW; ES U/C
  • The OPEC+ meeting was cancelled with no new date set. As such, current quota levels will be maintained; benchmarks are underpinned but off highs
  • DXY has picked up notably from initial pressure going into today's US data and before tomorrow's FOMC Minutes with peers now mixed
  • RBA kept rates unchanged and extended bond purchases at...
Categories:
  • Asian equity markets traded indecisively in the absence of a lead from Wall St
  • RBA kept rates unchanged and extended bond purchases at a lower rate through to mid-November
  • UK PM Johnson announced the removal of COVID-19 restrictions which will allow the reopening of all remaining businesses from July 19th
  • In FX, DXY was subdued but maintained 92.00 status, EUR/USD and GBP/USD eye 1.19 and 1.39 respectively
  • The OPEC+...
Categories:
  • MON: Chinese Caixin Services Final PMI (Jun); EZ Sentix Index (Jul); EZ, UK and US Markit Services and Composite Final PMIs (Jun); US Market Holiday (Independence Day), BoC Business Outlook Survey, Israel Policy Decision
  • TUE: RBA Policy Decision; German ZEW Survey (Jul); EZ Retail Sales (May); US ISM Services PMI (Jun)
  • WED: FOMC Minutes (Jun), EIA STEO
  • THU: ECB Minutes (Jun)
  • FRI: Chinese Inflation (Jun); UK...
Categories:
  • Asian equity markets traded tentatively ahead of this week's risk events and as participants digested a slowdown in Chinese Caixin PMI data
  • In FX, the DXY has nursed post-NFP losses, EUR/USD trades north of 1.1850 and GBP/USD remains on a 1.38 handle
  • UAE rejected a proposal to extend the deal and increase production as it seeks a review of baseline production levels
  • Saudi has rejected calls by the UAE to take an immediate decision regarding...
Categories:
  • Equities are firmer but contained in a quiet session pre NFP & OPEC+, Euro Stoxx 50 +0.2% and ES +0.1%
  • The DXY remains bid and is forging fresh highs to the modest detriment of peers ahead of significant EUR & JPY opex at today's NY cut
  • WTI and Brent are holding steady ahead of the resumption/start to the JMMC/OPEC+ events at 09:00EDT & 10:30EDT respectively
  • Core debt is bolstered going into the long-weekend and data with the US...
Categories:
  • Asian equity markets were mixed as the initial tailwinds from the mild gains on Wall St were offset by weakness in China
  • The S&P 500 eked a fresh record high and the energy sector led the gains as focus centred on OPEC deliberations
  • In FX, the DXY has held above 92.50, EUR/USD and GBP/USD remain lacklustre on 1.18 and 1.37 handles respectively
  • Yesterday's OPEC+ meeting has been postponed until today amid frictions over the proposed...
Categories:
  • European bourses/US futures have pared back essentially all of the mornings initial upside, Euro Stoxx 50 +0.1%, ES +0.1%; ahead of key US data
  • OPEC+ deal likely to include a monthly oil output increase less than 0.5mln BPD until December-2021, sources; bolstering crude futures to session highs
  • FX has been very choppy though the USD remains bid and USD/JPY surpassed 111.50 while Cable lost 1.38
  • The BoJ Tankan survey missed expectations and...
Categories:
  • Asian equity markets began H2 subdued following the mixed performance of Wall St counterparts
  • The BoJ Tankan survey missed expectations and Chinese Caixin Manufacturing PMI printed short of estimates
  • The DXY remains on a firm footing above 92.00, EUR/USD trades sub-1.1850 and GBP/USD holds on to 1.38 status
  • Looking ahead, highlights include Riksbank Policy Announcement, Final EZ, UK & US Manufacturing PMIs, OPEC+ Meeting, US IJC, ISM...
Categories:
  • European indices and US futures have come under pressure as the session progressed going into June, Q2 & H1 end; Euro Stoxx 50 -0.80%, ES -0.1%
  • DXY remains bid above 92.00 with peers contained and Sterling the lone G10 outperformer while fixed is firmer & USTs yields flatter
  • Chinese Manufacturing PMI topped estimates but showed slower growth in tandem with the softer Non-Manufacturing and Composite readings; capping APAC...
Categories:
  • Asian equity markets head into month-end mostly positive but with gains capped as participants digested the latest Chinese PMIs
  • Manufacturing PMI topped estimates but showed slower growth in tandem with the softer Non-Manufacturing and Composite readings
  • In FX, the DXY consolidated after reclaiming 92.00, EUR/USD hovers around 1.19 and GBP/USD remains on a 1.38 handle
  • The JMMC meeting was postponed to Thursday and will now be conducted in...
Categories:
  • European bourses are firmer while US futures are more contained and sub yesterday's record levels after a subdued APAC handover; Euro Stoxx 50 +0.4%, ES U/C
  • Crude remains pressured pre-OPEC with the JTC commencing from 12:00BST/07:00EDT today; though, benchmarks have recovered off lows which saw WTI test USD 72.00/bbl
  • USD is supported in-spite of some rebalancing signals to the detriment of peers particularly high beta/crude sensitive FX
  • US...
Categories: