Newsquawk

Blog

  • European bourses are modestly firmer, whilst US equity futures are mixed with slight underperformance in the NQ
  • Dollar is incrementally higher and the JPY continues to underperform
  • Bonds are mixed with Gilts paring back Tuesday’s gains
  • Crude is firmer and near session highs, base metals are mixed but with outperformance in Copper
  • Looking ahead, ECB Operational Framework Review, Speech from ECB’s Cipollone &...
Categories:
  • APAC stocks traded mixed as early momentum from the tech-led gains on Wall St was offset by Chinese developer default concerns.
  • Toyota, Nissan, Panasonic, Hitachi & Nippon Steel were among the companies that have responded to Japanese unions' wage hike demands in full.
  • European equity futures indicate a flat open with the Euro Stoxx 50 future unchanged after the cash market closed up 1.1% on Tuesday.
  • DXY is steady below the 103 mark,...
Categories:
  • European bourses are modestly firmer, whilst US equity futures are mixed; the NQ narrowly outperforms led by tech optimism post Oracle results
  • Dollar is flat, JPY underperforms post-Ueda and the Pound lags after softer-than-expected jobs data
  • Bonds are modestly firmer, taking the lead from Gilt outperformance following the region's jobs data
  • Crude is firmer as geopolitical themes remain; XAU is lower
  • Looking ahead,...
Categories:
  • APAC stocks traded mixed following the tentative mood stateside and as participants await US CPI data.
  • BoJ Governor Ueda refrained from any overly hawkish rhetoric and noted weakness in consumption of non-durable goods.
  • European equity futures indicate a higher open with the Euro Stoxx 50 future +0.6% after the cash market closed down 0.6% on Monday.
  • DXY remains sub-103, JPY lags post-Ueda, other majors are broadly...
Categories:
  • European equities are lower, dragged down by losses in the semi-conductors; US equity futures are mixed
  • Dollar is flat, JPY continues its recent advances, helped by the regions GDP figures
  • Bonds are contained within relatively tight ranges; ECB’s Kazimir sparked a modest hawkish reaction
  • Crude is modestly firmer; XAU flat and base metals mixed
  • Looking ahead, US Employment Trends, Japanese Corporate Goods Price, NY...
Categories:
  • APAC stocks traded with a downbeat mood with most major indices pressured after Friday's tech-led declines in the US.
  • Japan's revised Q4 GDP data missed expectations but showed the economy averted a technical recession.
  • Chinese inflation data showed a return to acceleration in consumer prices; CPI YY (Feb) 0.7% vs. Exp. 0.3% (Prev. -0.8%).
  • DXY sits on a 102 handle with FX markets broadly contained. USD/JPY is just below the 147...
Categories:

Week Ahead 11-15th March

  • SAT: Chinese Inflation (Feb)
  • SUN: Japanese GDP (R)
  • MON: Eurogroup Meeting; Norwegian CPI (Feb)
  • TUE: NBH Announcement, EIA STEO, OPEC OMR; UK Labour Market Report (Jan/Feb), US CPI (Feb)
  • WED: UK GDP (Jan)
  • THU: IEA OMR; Swedish CPIF (Feb), US PPI (Feb) and Retail Sales (Feb)
  • FRI: Quad Witching, PBoC MLF, Japan's...
Categories:
  • European equities are mixed, with trade fairly rangebound ahead of the US NFP report
  • Dollar is flat, JPY is bid post-BoJ sources and EUR is hampered by dovish ECB rhetoric
  • Bonds are bid, with EGBs lifted by dovish ECB speak and ahead of the US NFP
  • Crude gives back earlier gains; XAU sits at highs
  • Looking ahead US NFP, Canadian Employment, and comments from Fed’s Williams.
Categories:
  • APAC stocks took impetus from the fresh record levels on Wall Street amid dovish tailwinds, Nikkei gained despite the recent JPY strength.
  • DXY languished beneath 103.00, EUR/USD lingered around 1.0950, USD/JPY tested yesterday's lows, and Antipodeans remained afloat.
  • Fed Chair Powell suggested they are not far from being confident to cut rates and he could see the case for shortening the maturity of Fed holdings, while he would prefer not to hold...
Categories:
  • Equities are mixed, with sentiment improving across the indices throughout the European morning
  • Dollar is lower weighed on by a strong JPY after further BoJ speak & Rengo wage demands; USD/JPY back below 148.00
  • Treasuries are modestly firmer with EGBs boosted by a strong French auction and awaiting the ECB
  • Crude is softer, XAU remains at highs and base metals are entirely in the green
  • Looking ahead, US Challenger...
Categories:
  • APAC stocks were mixed as participants second-guessed central bank policies and digested Chinese trade data.
  • Fed's Kashkari (non-voter) said he currently thinks there will be two rate cuts for 2024 which could potentially just be one.
  • European equity futures indicate a contained open with the Euro Stoxx 50 future -0.1% after the cash market closed up 0.5% on Wednesday.
  • In FX, DXY was contained after yesterday's selling, JPY strength has...
Categories:
  • Equities are firmer as sentiment improves from the prior session; Chair Powell ahead
  • Dollar lower, JPY bid after BoJ sources, Antipodeans benefit from risk tone
  • At the March BoJ policy meeting some attendees are reportedly likely to say that lifting negative interest rates is reasonable, via JiJi
  • Bonds softer with Gilts pressured ahead of the UK Budget
  • Crude benefits from a bullish-leaning private inventory...
Categories:
  • APAC stocks were mostly choppy with early pressure following the tech-led declines stateside.
  • Super Tuesday projections point to a rematch between US President Biden and former President Trump.
  • European equity futures indicate a slightly positive open with Euro Stoxx 50 future +0.1% after the cash market closed down 0.4% on Tuesday.
  • DXY is uneventful on a 103 handle, USD/JPY traded on both sides of 150.00, antipodeans...
Categories:
  • Equities are entirely in the red; the NQ lags, dragged down by Apple and Tesla
  • Dollar is flat, with G10’s mostly lower though the Yen holds firm post-CPI
  • Bonds are firmer, though revised EZ PMIs spurred a gradual hawkish move for EGBs
  • Crude lacks direction, XAU continues to trade higher and base metals are mixed
  • APAC focus on hot Tokyo CPI and China’s 2024 GDP target being set around 5%, as...
Categories:
  • APAC stocks traded mixed as the region digested China's Work Report and Caixin Services PMI data.
  • China unveiled the government work report with the 2024 GDP growth target set at around 5%, as expected.
  • European equity futures indicate a slightly softer open with Euro Stoxx 50 future -0.3% after the cash market closed up 0.4% on Monday.
  • DXY remains sub-104, USD/JPY lingers around the 150.50 mark, EUR/USD uneventful around 1.0850, antipodeans...
Categories:
  • European and US equities are mixed and trading on either side of the unchanged mark; slight RTY outperformance
  • DXY is flat, JPY underperforms and is comfortably above 150.00
  • Bonds are mixed but rangebound, Treasuries underperform slightly
  • Crude is softer and unable to benefit from the OPEC+ cut extension; Geopols and ceasefire talks remain in focus
  • Looking ahead, Australian PMI, Tokyo CPI, Comments from Fed’s Harker...
Categories:
  • APAC stocks traded mixed amid a tentative mood ahead of an event-packed week.
  • European equity futures indicate a slightly higher open with Euro Stoxx 50 future +0.2% after the cash market closed up 0.4% on Friday.
  • DXY is sub-104, JPY marginally lags across the majors with price action otherwise contained in the FX space.
  • OPEC+ members agreed to extend voluntary cuts to Q2 whereby Saudi Arabia is to extend its voluntary oil cut of 1mln...
Categories:

Week Ahead 4th - 8th March

  • MON: Swiss CPI (Feb), South Korean GDP (Q4), Japanese Tokyo CPI (Feb),
  • TUE: US Primary Super Tuesday, Chinese Caixin Services PMI Final (Feb), EZ/UK/US Services and Composite PMI Final (Feb), EZ PPI (Jan), US ISM Services PMI (Feb), South Korean CPI (Feb)
  • WED: BoC Announcement, Australian GDP (Q4), German Trade Balance (Jan)
  • THU: ECB Announcement, Japanese Wage Data, Chinese Trade...
Categories:
  • European equities began the session on a firm footing, though have succumbed to selling pressure after the hotter-than-expected EZ CPI print; US futures lower, with RTY hampered by NYCB losses
  • The EZ metric sparked a fleeting hawkish reaction in the bond complex; soon-after EGBs moved to session highs, as the cooling narrative remains in-play & a June cut is still priced
  • Dollar holds around flat and the Yen underperforms after dovishly-perceived comments from...
Categories:
  • APAC stocks traded with positive bias amid tailwinds from the US, while participants also reflected on the latest Chinese PMI figures.
  • Fed's Williams doesn't see a sense of urgency to cut rates, Mester says three cuts in 2024 still 'feels about right'.
  • European equity futures indicate a higher open with Euro Stoxx 50 future +0.5% after the cash market closed down 0.1% on Thursday.
  • DXY is back above 104, JPY lags post-Ueda comments,...
Categories:
  • Equities are mixed, with the Dax 40 continuing to trade near/at ATHs, and as attention remains on US PCE
  • Dollar is modestly weaker, largely a factor of the strong JPY after hawkish leaning BoJ speak
  • Bonds are pressured following the hotter-than-expected European CPI data
  • Crude is pressured with a lack of fresh catalysts; XAU initially benefitted from the weaker Dollar, though now off best levels
  • Looking ahead, US PCE...
Categories:
  • APAC stocks were choppy at month-end after the lacklustre handover from the US ahead of PCE price data.
  • Fed voter Williams said three interest rate cuts in 2024 is reasonable for Fed officials to debate.
  • US Congressional leaders have reached a deal to avoid a March 2nd partial government shutdown.
  • European equity futures indicate a steady open with Euro Stoxx 50 future flat after the cash market closed flat on...
Categories:
  • European equities are mixed, whilst US futures are entirely in the red, with Nvidia weighing on the NQ
  • Dollar is firmer and reclaims 104 status, focus remains on USD/JPY with YTD high in sights; Kiwi underperforms following a dovish hold at the RBNZ
  • Bonds are incrementally firmer with specifics light and supply heavy, awaiting US GDP 2nd estimate
  • Crude and base metals are hampered by the firmer Dollar
  • Looking ahead,...
Categories:
  • APAC stocks traded cautiously and followed suit to the rangebound performance seen on Wall St.
  • RBNZ kept the OCR unchanged and lowered its OCR projections to suggest a reduced chance of a hike.
  • NZD is the standout laggard across the majors, USD/JPY remains in close proximity to the YTD peak.
  • European equity futures indicate a slightly lower open with Euro Stoxx 50 future -0.1% after the cash market closed up 0.4% on...
Categories:
  • European bourses modestly firmer having picked up from an uneventful open with newsflow limited
  • DXY fell below Monday’s trough with pressure coming via JPY strength after Japanese CPI
  • Session’s focus for fixed income is supply, EGBs stuck near unchanged levels while USTs are a touch firmer
  • Commodities near unchanged levels as we await fresh geopolitical developments, latest pour some cold water on Biden’s framing. Metals bid, benefitting...
Categories: