25 Sep 2024, 06:47 by Newsquawk Desk
- APAC stocks were mostly positive as Chinese markets continued to rally following the stimulus boost.
- Australian monthly CPI matched estimates and slowed to a 3-year low, although core inflation remained above the 2%-3% target.
- European equity futures are indicative of a lower cash open with the Euro Stoxx 50 future -0.3% after the cash market closed up by 1.1% on Tuesday.
- USD is broadly flat vs. peers, EUR/USD is eyeing 1.12 to the upside,...
24 Sep 2024, 11:17 by Newsquawk Desk
- European bourses are entirely in the green, with US futures also modestly firmer with sentiment lifted after China’s flurry of stimulus efforts
- PBoC Governor Pan announced to cut RRR by 50bps which will provide CNY 1tln worth of long-term capital and cut the 7-day reverse repo rate by 20bps to 1.50%, while he said they will guide LPRs lower and reduce the mortgage rate for existing mortgages
- Dollar is softer, EUR gains despite poor German Ifo data & JPY...
24 Sep 2024, 06:54 by Newsquawk Desk
- APAC stocks traded mostly higher following gains on Wall St. and China's various stimulus measures.
- PBoC cut the RRR and 7-day reverse repo rate, whilst also announcing measures for the property sector and stock market.
- RBA kept its Cash Rate Target unchanged at 4.35%, as expected, while it reiterated that it is not ruling anything in or out.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.5%...
23 Sep 2024, 11:10 by Newsquawk Desk
- European equities are mixed/modestly firmer, a theme which is also seen across US futures
- Dollar is firmer, benefiting from losses in the EUR after particularly poor French/German PMI metrics, AUD bid ahead of the RBA on Tuesday
- USTs remain steady ahead of its own PMI release, Bunds were lifted after poor EZ PMIs & Gilts gained after UK PMIs missed across the board, but still point towards a “soft landing” for the UK economy
- Crude is...
23 Sep 2024, 06:47 by Newsquawk Desk
- APAC stocks were mostly positive albeit with gains capped amid a lack of fresh macro drivers.
- Israel Defence Forces said during the weekend that it struck Hezbollah targets in Lebanon; added that strikes would continue and intensify.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 1.5% on Friday.
- DXY is flat, AUD is the marginal outperformer, JPY the...
20 Sep 2024, 13:34 by Newsquawk Desk
- MON: Market Holiday: Japan (Autumnal Equinox); EZ, UK & US Flash PMIs (Sep), US National Activity Index (Aug)
- TUE: RBA Policy Announcement; German Ifo (Sep), US Consumer Confidence (Sep), Richmond Fed (Sep)
- WED: Riksbank & CNB Policy Announcements; Australian CPI (Aug), US Building Permits Revision (Aug), New Home Sales (Aug), UK CBI Trends (Sep)
- THU: SNB & Banxico Policy Announcements, BoJ Minutes (Jul), CBRT Minutes...
20 Sep 2024, 11:23 by Newsquawk Desk
- European bourses are entirely in the red, with the DAX 40 slightly underperforming as Mercedes Benz cuts guidance; US futures are modestly lower
- Dollar is flat, JPY underperforms after the BoJ kept rates unchanged (as expected), but with Ueda striking a dovish tone at his press conference
- Bonds are slightly bid, taking impetus from the BoJ announcement; Gilts initially underperformed vs peers after hotter-than-expected UK Retail Sales
- Crude...
20 Sep 2024, 06:55 by Newsquawk Desk
- APAC stocks mostly gained following the rally stateside where the S&P 500 and the Dow surged to fresh record highs as the dust settled after the Fed over-delivered in its first rate cut in four years and US data topped forecasts.
- BoJ kept its short-term policy rate unchanged at 0.25%, as expected with the decision made by unanimous vote, with no fireworks; USD/JPY was choppy before heading marginally lower, and 10-year JGBs were eventually subdued.
- PBoC...
19 Sep 2024, 11:32 by Newsquawk Desk
- European equities opened on a very strong footing and remain at elevated levels; US futures are bid, with the RTY outperforming post-Fed
- Dollar continues to sink, the typical haven currencies JPY & CHF lags, whilst Antipodeans outperform; the AUD also benefits from the region’s jobs report
- Bonds are incrementally lower (but off worst levels), Gilts remain steady ahead of the BoE policy announcement
- Crude benefits from the softer Dollar...
19 Sep 2024, 07:01 by Newsquawk Desk
- The Fed delivered a 50bps rate cut and the dot plot suggested a further 50bps of reductions this year.
- US indices finished marginally lower and yields higher with Powell stating that markets should not assume 50bps is the new pace.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +1.1% after the cash market closed lower by 0.5% on Wednesday.
- DXY was seen lower post-FOMC decision before...
18 Sep 2024, 11:34 by Newsquawk Desk
- European bourses are slightly lower whilst US futures see very modest gains ahead of the FOMC announcement
- Dollar is slightly softer, Kiwi outperforms, with JPY also stronger
- Bonds are at lows, Gilts underperform following the region’s UK inflation report which saw Services & Core Y/Y print above expectations
- Crude resides near lows and took another leg lower amid reports that Russia could hold off oil export cuts, XAU/base metals...
18 Sep 2024, 06:55 by Newsquawk Desk
- APAC stocks were mostly rangebound with participants lacking conviction heading into the crucial Fed policy decision.
- European equity futures are indicative of a softer cash open with the Euro Stoxx 50 future -0.2% after the cash market closed higher by 0.7% on Tuesday.
- DXY is lingering below the 101 mark, JPY is the clear outperformer across the majors with FX otherwise contained.
- Market pricing assigns a 65% chance of a 50bps Fed cut and a...
17 Sep 2024, 11:12 by Newsquawk Desk
- European equities are firmer across the board, with Retail outperforming; US futures gain, the NQ outperforms attempting to pare back the prior day’s losses
- Dollar is flat, EUR edged off best levels in reaction to poor ZEW data
- Bonds are firmer as markets digest another Timiraos piece, which further highlighted that the Fed has doubts regarding the magnitude of a cut
- Crude has given back early morning strength and is now slightly lower, XAU...
17 Sep 2024, 06:58 by Newsquawk Desk
- APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays.
- Money markets now price in a 67% probability of a 50bps Fed rate cut on Wednesday vs the 48% probability seen on Friday, via Reuters.
- US and Japan are nearing a deal to curb chip technology exports to China, according to...
16 Sep 2024, 11:25 by Newsquawk Desk
- European equities are mixed/flat, US equity futures edge slightly higher, though the RTY +0.8% outperforms
- Dollar continues to edge lower as markets weigh up the magnitude of the looming Fed cut, G10s gain vs the Dollar, USD/JPY slips below 140
- After last week's late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
- Bonds are incrementally firmer but with trade rangebound awaiting speak from ECB’s...
16 Sep 2024, 06:40 by Newsquawk Desk
- APAC stocks were mixed amid the holiday-thinned conditions and as participants braced for this week's central bank announcements including from the FOMC, BoE and BoJ.
- Chinese house prices further deteriorated, while the latest Chinese Industrial Production and Retail Sales also disappointed.
- After last week's late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
- European equity futures are indicative...
13 Sep 2024, 13:22 by Newsquawk Desk
- SAT: China Activity Data (Aug)
- MON: N/A
- TUE: EZ/German ZEW (Sep), US Retail Sales (Aug), Canadian CPI (Aug), US Industrial Production & Manufacturing Output (Aug), Business Inventories (Jul), NAHB Housing Index (Sep)
- WED: FOMC & BCB Policy Announcements; Japanese Trade Balance (Aug), UK CPI (Aug), Swedish Unemployment (Aug), South African CPI (Aug), EZ HICP Final (Aug), US Building Permits/Housing Starts (Aug), New Zealand...
13 Sep 2024, 11:27 by Newsquawk Desk
- European bourses are generally firmer; US equity futures remain steady and hold on to the prior day’s gains.
- Dollar is slightly lower amid a dovish repricing of Fed rate cut bets, and JPY outperforms as USD/JPY slips to a 140 handle.
- Bonds are generally firmer; Bunds trade around the 135.00 mark.
- Crude oil continues to edge higher given the risk tone, XAU is modestly firmer and base metals are mixed.
- Looking ahead,...
13 Sep 2024, 07:05 by Newsquawk Desk
- APAC stocks were ultimately mixed and initially took their cues from the gains in the US, but with upside capped by a lack of fresh drivers ahead of a long weekend.
- ECB officials have not ruled out a rate cut at the October meeting, according to Bloomberg sources, while Reuters sources suggested an ECB October rate cut is said to be unlikely for now and a move before December would take exceptional negative growth surprises.
- US and UK governments are discussing...
12 Sep 2024, 11:29 by Newsquawk Desk
- European bourses are entirely in the green with the region taking impetus from the prior day’s strength seen on Wall Street; US futures are modestly firmer.
- Dollar is flat ahead of US PPI/IJC, JPY & CHF are subdued amid their haven statuses in risk-on trade.
- Bonds are modestly lower giving back some the prior day’s advances ahead of ECB.
- Crude oil and base metals are on a firmer footing benefiting from the risk-on mood, precious metals...
12 Sep 2024, 06:39 by Newsquawk Desk
- APAC stocks gained as the region took impetus from the post-CPI tech-led rebound stateside.
- DXY traded little changed, JPY saw brief support from hawkish comments from BoJ’s Tamura; EUR awaits the ECB.
- Goldman Sachs CEO Solomon said he sees 2 or maybe 3 Fed rate cuts, while he added that they could see the possibility of a 50bps cut but his base case is for a cut of 25bps, according to a CNBC interview.
- European equity futures are indicative...
11 Sep 2024, 11:17 by Newsquawk Desk
- European bourses are mixed having initially opened with a clear positive bias; US equity futures are entirely in the red ahead of CPI.
- Dollar is softer as markets digest the Presidential Debate; CNN opinion polls suggest that 63% of voters thought candidate Harris won the debate; gains in JPY overnight also weighed on the index
- Bonds are entirely in the green continuing the price action seen in the prior session; Gilts outperform after softer-than-expected UK GDP...
11 Sep 2024, 06:33 by Newsquawk Desk
- APAC stocks traded cautiously after the two-way price action stateside and as participants await US CPI data.
- BoJ's Nakagawa said that the central bank is likely to adjust the degree of monetary easing if the economy and prices move in line with its projection.
- European equity futures are indicative of a subdued open with the Euro Stoxx 50 future -0.2% after the cash market closed lower by 0.7% on Tuesday.
- USD is broadly softer vs. peers,...
10 Sep 2024, 11:25 by Newsquawk Desk
- European equities are mixed, with initial early-morning strength trimmed; US equity futures are modestly in the red with slight underperformance in the NQ following an Apple tax order.
- Apple (AAPL) has lost the fight against the EUR 13bln EU tax order to Ireland, according to Reuters; Apple said EU regulators are trying retroactively to change the rules; AAPL -1.2% in the pre-market.
- DXY is flat, GBP gains post-jobs data which were mixed; Bloomberg reported that the...
10 Sep 2024, 06:53 by Newsquawk Desk
- APAC stocks mostly took impetus from the gains on Wall St where the major indices rebounded (S&P 500 +1.2%)
- Chinese trade data in USD terms was mixed; larger surplus than expected, exports beat, imports missed
- European equity futures are indicative of a flat open with the Euro Stoxx 50 future unchanged after the cash market gained 0.9% on Monday
- DXY is steady above the 101.50 mark, the USD's major counterparts have been unable...