• APAC stocks traded mostly lower throughout the session following the downbeat lead from Wall Street (-0.8%). 
  • DXY was choppy in a tight range and traded on either side of 106.50 after printing a 105.85-106.79 range yesterday; Yuan underperformed
  • ECB officials may favour a 50bps rate hike in December rather than 75bps, although an inflation surge could still lead to 75bps, according to Bloomberg sources
  • Fed's Waller (voter, hawk) said...
  • European bourses have spent much of the morning fairly contained but with a gradually increasing negative bias, as the recent rally pauses amid numerous geopolitical developments.
  • DXY is once again on the backfoot and sub-106.00 to the modest benefit of peers, ex-JPY.
  • The bund is currently near the unchanged mark despite some fairly marked gyrations overnight and throughout the European morning amid geopols. & hot UK CPI.
  • Crude...
  • APAC stocks traded lower throughout the session but climbed off session lows as markets juggled the US PPI data and the latest geopolitical developments.
  • Polish Foreign Ministry said a "Russian-made" rocket landed in a Polish village at 15:40 local time on Tuesday
  • US officials said initial findings suggest the missile that hit Poland was fired by Ukrainian forces at an incoming Russian missile, according to AP.
  • DXY traded on either side of...
  • European bourses are mixed overall, Euro Stoxx 50 +0.2%, as opening gains scale back after a mostly constructive APAC session.
  • Stateside, US futures are firmer across the board with Tech leading after strong APAC tech trade and in wake of Fed's Brainard, ES +0.7%.
  • DXY continues to slip after a pronounced move which occurred prior to the European cash open, currently near sub-106.00 lows to the broad benefit of peers.
  • BTPs are leading the...
  • APAC stocks traded mixed following a weak lead from Wall Street (S&P 500 -0.9%) with newsflow also quiet overnight
  • Chinese Retail Oct Sales contracted Y/Y, whilst Industrial Output missed expectations; Japanese Q3 GDP unexpectedly contracted
  • DXY traded on either side of 107.00, EUR/USD and GBP/USD were flat, AUD was unfazed by RBA minutes, JPY lagged
  • European equity futures traded with modest gains throughout the session with the Euro...
  • European bourses are posting mild gains, Euro Stoxx 50 +0.2%, with participants awaiting the conclusion of the Biden-Xi meeting.
  • Stateside, futures are pressured as the recent rally seemingly runs out of steam and also following Fed's Waller pushing back on the post-CPI reaction, ES -0.4%.
  • DXY has surpassed the 107.00 mark to the detriment of the traditional havens while the Yuan continues to draw focus.
  • A concerted bid has recently been...
  • APAC stocks traded mixed despite the positive lead from the US; Hong Kong outperformed on reports China is looking to support its property sector
  • DXY attempted to claw back recently lost ground but remained under 107.00; Yuan outperformed following a much stronger PBoC fixing vs Friday
  • Bitcoin declined under USD 16,000 overnight whilst Ethereum fell under USD 1,200 amid contagion fears from the collapse of FTX
  • US President Biden and Chinese...

Week Ahead November 14th-18th:

  • MON: OPEC MOMR, EZ Industrial Production (Sep), Japanese GDP (Q3).
  • TUE: RBA Minutes (Nov), IEA OMR; Chinese Retail Sales (Oct), UK Unemployment Rate (Sep), Claimant Count (Oct), Swedish CPIF (Oct), EZ Trade Balance (Sep), GDP Flash Estimate (Q3), US PPI Final Demand (Oct).
  • WED: UK CPI (Oct), US Export/Import Prices (Oct), US Retail Sales (Oct), Industrial Production (Oct), Canadian CPI (Oct), Japanese...
  • Major bourses in Europe are mostly firmer following CPI-induced optimism, with added tailwinds from China easing COVID measures; FTSE 100 lags 
  • DXY tumbles with G10s all firmer against the Buck, whilst the Yuan outperforms in the EM-space
  • Crude futures and base metals are extending the gains seen overnight which were sparked by China’s COVID update
  • Chinese President Xi will meet with US President Biden, according to the Chinese Foreign...
  • APAC stocks traded with firm gains as the region followed suit to the post-CPI global stock surge which saw the Nasdaq 100 close higher by 7.5%.
  • Chinese stocks were boosted in late trade after China relaxed some of its COVID protocols for close contacts and inbound travel.
  • European equity futures were marginally higher with Eurostoxx 50 futures up by 0.9% after the cash market closed with gains of 3.2% yesterday.
  • DXY remains at...
  • Major European bourses mostly hold a downward bias following weak handovers from Wall Street and then APAC; US futures are flat
  • In FX, DXY found a base just above 110.00 before making its way to 111.00; GBP outperforms and the EUR lags
  • Fed’s Kashkari said any talk of a pivot is premature and added that they will do what is needed to bring inflation back down
  • FTX is seeking emergency funding to meet withdrawal requests and without funding...
  • APAC stocks traded negatively as the region followed suit to the losses stateside which were prompted by crypto concerns and a stronger USD.
  • European equity futures were subdued with Eurostoxx 50 futures lower by 0.6% after the cash market closed down 0.3% yesterday.
  • DXY is softer but on a 110 handle, EUR/USD trades above parity, Cable lingers around 1.14.
  • Binance walked away from the FTX deal due to diligence and reports on the mishandling...
  • Major bourses in Europe hold a downside bias after seeing some choppiness at the cash open and following a mixed APAC handover; US futures are also softer
  • US Midterm Elections are mostly as expected so far with GOP's leading the House while the Senate is seen as a toss-up; there was very little market reaction in response to the mid-terms overnight
  • DXY attempts to nurse some recent losses and trades on either side of 110.00 whilst the GBP and NZD...
  • US Midterm Elections are mostly as expected so far with GOP's leading the House while the Senate is seen as a toss-up.
  • There has been very little market reaction in response to the mid-terms with the Dollar, US indices and T-notes all contained.
  • European equity futures were subdued with Eurostoxx 50 futures down 0.4% after the cash market closed up 0.8% yesterday.
  • DXY is marginally firmer vs. peers, EUR/USD is contained above parity,...
  • Major bourses in Europe portray a mixed picture with no clear conviction seen heading into the US mid-term elections, US equity futures post mild gains but with price action contained
  • DXY gleaned some traction across the board amidst a firmer rebound in Treasury yields, renewed weakness in the Yuan and general consolidation ahead of impending risk events
  • US Treasuries were first off the block in terms of paring more losses from worst levels to turn marginally...
  • APAC stocks were mixed as the region only partially sustained the early momentum seen following the positive handover from Wall St.
  • European equity futures are contained with Eurostoxx 50 futures up 0.1% after the cash market closed up 0.6% yesterday.
  • DXY is a touch firmer and on a 110 handle, EUR/USD lingers around parity, Cable is back below 1.15.
  • UK PM Sunak is expected to increase pensions and benefits in line with inflation, according...
  • Major bourses in Europe kicked off the session with mild losses across the board, but have since moved firmly into the green amid China-COVID focus
  • Amidst this, the DXY has faded significantly from an initial rebound to 111.28 highs; currently, holding around 110.30 to the mixed benefit of peers
  • Core counterparts have spent the morning under pressure amid the increasingly constructive risk tone; however, this has eased and USTs are now essentially...
  • APAC stocks mostly gained as investors continued to pile on the reopening bets despite China 'unswervingly' maintaining its COVID approach, while the region also shrugged off disappointing Chinese trade data
  • DXY began with early gains and rose back above 111.00 amid the initial risk aversion; G10s were lower and Antipodeans underperformed
  • China’s health commission spokesman said China will not waver in preventing a COVID rebound and in the dynamic clearing of cases...
  • MON: Eurogroup; Chinese Trade Balance (Oct), Swiss Unemployment (Oct), EZ Sentix (Nov), US Employment Trends (Oct), Australian Consumer Sentiment (Nov).
  • TUE: US Midterms, CBR Policy Announcement, BoJ SOO (Oct), EIA STEO; EZ Retail Sales (Sep), US NFIB (Oct).
  • WED: NBP Policy Announcement; Chinese CPI (Oct).
  • THU: Banxico Policy Announcements; Norwegian CPI (Oct), US CPI (Oct), IJC (w/e 31st Oct), New Zealand Manufacturing PMI (Oct),...
  • European bourses are firmer across the board as the complex benefits from further rumours around an easing of China's COVID policy, Euro Stoxx 50 +1.4%
  • Stateside, futures are firmer across the board with magnitudes a touch more contained vs Europe pre-NFP
  • DXY has pulled back from overnight peaks, where it tested but failed to attain 113.00, Antipodeans & Yuan outperform
  • Core fixed benchmarks are little changed overall with USTs...
  • APAC stocks were mixed with Chinese stocks rallying on unverified reopening rumours, although the rest of the region was contained
  • DXY retreated beneath the 113.00 level, EUR/USD rebounded as the dollar eased overnight, USD/JPY was choppy around 148.00
  • US audit inspectors finished on-site China work ahead of schedule, according to Bloomberg
  • UK Chancellor Hunt is mulling an increase in the headline rate of Capital Gains Tax, according to The...
  • European bourses are subdued across the board, Euro Stoxx 50 -0.8%, as the post-Powell pressure reverberates across from APAC trade.
  • Stateside, futures are lower across the board though only marginally so with a busy session ahead incl. BoE and ISM Services PMI; ES -0.3%, NQ -0.3%.
  • USD continues to rise to the detriment of peers across the board following the FOMC/Powell-presser; DXY to a 112.98 peak from a 111.81 base.
  • NOK has been impaired...
  • US stocks ultimately suffered notable losses after markets saw a dovish reaction to the Fed statement but a hawkish one during Powell’s presser
  • FOMC hiked rates by 75bps as expected and noted the Fed will take into account "the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments"
  • Fed Chair Powell during the presser suggested they still have some ways to go...
  • European bourses are mixed as the initial positive bias faded amid downward PMI revisions and increasing geopolitical tensions
  • US futures similarly contained and less reactive to the above factors pre-FOMC
  • DXY under modest pressure to the benefit of G10 peers with antipodeans and JPY outpacing, EGBs/USTs contained with a slight negative bias
  • Crude benchmarks have given up their USD and China induced APAC upside amid downbeat commentary from...
  • APAC stocks were mixed with the region cautious after the lacklustre handover from the US ahead of the FOMC
  • DXY slightly softened after the choppy performance yesterday, EUR/USD traded marginally higher, USD/JPY retreated overnight
  • North Korea reportedly fired at least 10 missiles from the east and west coasts; South Korea launched air-to-ground missiles which were fired towards the north of the maritime border
  • China locked down the area...