03 Jan 2024, 11:15 by Newsquawk Desk
- European bourses post significant losses despite limited fresh newsflow, whilst US Futures are negative albeit to a lower magnitude awaiting key US data
- Dollar is firmer and JPY continues to underperform; Antipodeans diverge as the AUD/NZD cross dips below 1.08.
- Bonds are pressured with overall specifics light as markets await key US events
- Crude continues to pullback along with Gold, suffering from recent strength in the Dollar and the...
03 Jan 2024, 06:29 by Newsquawk Desk
- APAC stocks were mostly lower as sentiment reverberated from Wall Street's downbeat performance, while Japanese markets were away on a market holiday.
- DXY held a softer bias overnight but maintained 102+ status after taking a breather from yesterday's surge from a 101.33 low to a 102.25 peak. EUR/USD rose back above 1.0950 while USD/JPY traded on either side of 142.00.
- European equity futures are indicative of a slightly lower open, with the Euro Stoxx 50 future...
02 Jan 2024, 11:20 by Newsquawk Desk
- European equities are firmer, though have significantly pared much of their initial gains; US equity futures are mixed and generally more contained.
- DXY holds onto modest gains above 101.50, JPY lags
- Fixed benchmarks hold onto a negative bias ahead of a busy slate throughout the week
- Crude soars amid geopolitical tensions; Gold also gains whilst base metals are mixed
- Israel says it will pull out thousands of troops...
22 Dec 2023, 10:55 by Newsquawk Desk
- European bourses are mixed whilst US futures are entirely in the red; Nike (-12.2%) shares slump in the pre-market
- Dollar remains sub-102, GBP firmer post Retail Sales and Antipodeans softer
- Fixed benchmarks are around unchanged and Gilts are muted as Retail Sales strength is offset by GDP revisions
- Crude and Spot Gold benefit from broader weakness in the Dollar whilst Base Metals are mixed
- Looking ahead, US Personal...
22 Dec 2023, 06:30 by Newsquawk Desk
- APAC stocks traded with a modest positive bias following the gains on Wall Street but with gains capped ahead of the US PCE and the Christmas break.
- Nike (NKE) shares slumped over 11% after-market after guiding Q3 revenue slightly negative Y/Y, cutting FY24 revenue growth guidance, and warning of cautious consumers.
- DXY took a breather after dipping to multi-month lows overnight. The Dollar was sold on Thursday in quiet US trade with desks pointing to month-end...
21 Dec 2023, 11:15 by Newsquawk Desk
- European bourses are weaker whilst US Futures are firmer, attempting to pare back the prior day's losses
- Dollar is lacklustre in holiday-thinned trade, Yen outperforms
- Fixed benchmarks are incrementally firmer with outperformance in Gilts continuing Wednesday’s CPI-driven dovish move
- Crude futures are tilting lower though within recent ranges; Spot gold remains unchanged amid similar USD action
- Looking ahead, US GDP...
21 Dec 2023, 06:30 by Newsquawk Desk
- US stocks sold off in the NY afternoon with desks pointing to technical factors, hefty 0DTE put options volume, and positioning in "holiday-thinned trade".
- APAC stocks traded mostly lower as the downbeat sentiment from Wall Street reverberated despite a lack of major catalysts, although Mainland Chinese markets eventually eked out gains.
- The Biden administration is reportedly mulling raising tariffs on some Chinese goods, including EVs, WSJ sources said, in an...
20 Dec 2023, 11:25 by Newsquawk Desk
- European bourses and US Futures are weaker though the FTSE 100 (+0.8%) outperforms post-CPI
- Dollar remains propped up; Pound lags after softer-than-expected CPI; Yen outperforms
- Fixed is higher led by outperformance in Gilts as attention turns to US 20yr supply
- Crude is firmer with overall specifics light; Spot Gold gives back some of yesterday's gains whilst base metals are generally in the green
- Looking ahead, EZ...
20 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly positively following the tailwinds from Wall Street, although newsflow overnight was on the quieter side amid the pre-Christmas lull.
- Nikkei 225 and JGB futures surged as APAC traders reacted to BoJ Governor Ueda's dovish press conference.
- European equity futures are indicative of a firmer cash open, with Euro Stoxx 50 future +0.2% after cash markets closed +0.3% on Tuesday.
- The US reportedly weighs whether to...
19 Dec 2023, 11:35 by Newsquawk Desk
- BoJ maintained policy settings & forward guidance, Ueda said little chance for BoJ to say policy will change in January
- Dovish reaction in fixed income with JGBs leading and global yields lower, USD/JPY testing 145.00 at best
- European bourses & US futures are firmer, ES remains sub-4800 and Monday’s 4802.25 best
- DXY pivoting 102.50 with Antipodeans once again outperforming with strength also in EUR &...
19 Dec 2023, 06:37 by Newsquawk Desk
- APAC stocks eventually traded mixed after a subdued start to the session with news flow light and the BoJ failing to induce any macro price action.
- JPY was hit after the BoJ unanimously left its rate and YCC unchanged, whilst forward guidance was also maintained and the Bank acknowledged the recent cooling in inflation.
- Fed's Daly (2024 voter) said it is appropriate for the Fed to begin looking ahead to lowering interest rates in 2024 because of how inflation has...
18 Dec 2023, 11:45 by Newsquawk Desk
- Modest pressure in European/US equities after a similar APAC handover given some Fed pushback
- Fed's Mester (2024) says markets are a bit ahead of the Fed on rate cuts; Goolsbee (2023 voter) may need to shift focus to jobs
- DXY pressured around 102.50, EUR above 1.09 with limited reaction to Ifo; JPY lags into BoJ
- EGBs printed session highs after German Ifo with USTs contained & 30yr yield eyeing 4.00% to...
18 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly negatively following a weekend heavy with geopolitical headlines and as markets look to wind down for the Christmas break.
- DXY held a downward bias and traded on either side of 102.50 within a 102.44-63 range amid light macro newsflow and ahead of this week's BoJ confab and US PCE data.
- North Korea fired a long-ranged ICBM overnight, which landed outside of Japan's EEZ. The North Korean ICBM ballistic missile test could have a range...
15 Dec 2023, 15:43 by Newsquawk Desk
- MON: German Ifo (Dec), New Zealand Trade Balance (Nov).
- TUE: BoJ & NBH Policy Announcements, RBA Minutes (Dec); EZ HICP Final (Nov), Canadian CPI (Nov), Japanese Trade Balance (Nov).
- WED: PBoC LPR, BoC Minutes (Dec); UK CPI (Nov), EZ Current Account (Oct), EZ Consumer Confidence Flash (Dec), US Existing Home Sales (Nov).
- THU: CBRT & CNB Policy Announcements; UK PSNB (Nov), US Final GDP (Q3), IJC (w/e 15th),...
15 Dec 2023, 11:10 by Newsquawk Desk
- European equities and US Futures are firmer; the RTY (+0.9%) outperforms
- Dollar meanders around the 102 level; Antipodeans benefit from the risk tone whilst EUR lags post PMI
- EGB’s are bid following EZ Flash PMI data whilst USTs are contained pre-Williams; Gilts remain firmer but off highs after their own PMIs
- Crude holds a modest bias in line with a broader positive risk tone post Chinese Industrial Output...
15 Dec 2023, 06:30 by Newsquawk Desk
- APAC stocks traded mostly higher after the positive handover from Wall St as yields continued to decline.
- Chinese Industrial Production topped estimates but Retail Sales disappointed despite showing double-digit percentage growth.
- European equity futures are indicative of a higher open with Euro Stoxx 50 future +0.2% after the cash market closed up 0.2% yesterday.
- DXY hovers around the 102 mark, EUR/USD lingers just below 1.10 and...
14 Dec 2023, 11:10 by Newsquawk Desk
- European equities and US futures continue to gain; the FTSE 100 outperforms lifted by upside in Basic Resources
- DXY is weaker post-FOMC; Antipodeans bid on positive risk sentiment; JPY benefits from converging yield spreads
- SNB unchanged at 1.75%, cuts not part of the discussion, dropped FX ‘selling’ reference; Norges Bank hiked to 4.50%
- Fixed bid awaiting fresh impetus from the ECB and BoE
- Commodities extend...
14 Dec 2023, 06:35 by Newsquawk Desk
- US stocks rallied, while bonds and gold also surged as the dollar and yields slumped in response to the dovish FOMC
- The Fed kept rates unchanged but made dovish tweaks to the statement guidance and cut its 2024 median dot by more than expected
- European equity futures are indicative of a higher open with Euro Stoxx 50 future +1.1% after the cash market closed down 0.1% yesterday
- DXY fell as low as 102.42, EUR/USD hovers around 1.09 pre-ECB,...
13 Dec 2023, 11:00 by Newsquawk Desk
- European equities and US Equity futures are firmer awaiting the Fed Policy Announcement
- Dollar is bid to the detriment of G10 pairs; Kiwi underperforms following the larger NZ current account deficit; Pound lags amid dismal GDP data
- Gilts gap higher post-data though benchmarks await the FOMC & German fiscal clarity
- Crude teeters around the unchanged mark having spent much of the European session in the red; Base metals are mostly softer...
13 Dec 2023, 06:40 by Newsquawk Desk
- APAC stocks traded mixed with participants cautious heading into the FOMC announcement.
- European equity futures are indicative of a flat open with Euro Stoxx 50 future unchanged after the cash market closed down 0.1% yesterday.
- DXY remains sub-104 pre-FOMC, JPY unfazed by improved Tankan data, NZD lags.
- USTs and Bunds are marginally firmer post-strong 30yr US auction, crude futures languished near 6-month...
12 Dec 2023, 11:15 by Newsquawk Desk
- European bourses dip into the red despite initial gains; US Futures are firmer ahead of US CPI; the FTSE 100 outperforms post UK-data
- Dollar oscillates on either side of the 104.00 mark; Yen is among the G10 outperformers, rebounding from yesterday’s hefty losses
- Bonds lift off post-supply low as attention turns to US CPI later today, Gilts gap higher on UK wages
- Crude is weaker despite overnight reports that a Norwegian-flagged tanker was...
12 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks were mostly positive as the region took impetus from the gains on Wall St.
- European equity futures are indicative of a slightly higher open with Euro Stoxx 50 future +0.1% after the cash market closed up 0.4% yesterday.
- DXY is softer but contained in a tight range around the 104 mark, antipodeans and JPY lead gains vs. the greenback.
- Bunds and USTs firmer despite poor US 3yr and 10yr auctions, crude continued to edge...
11 Dec 2023, 11:10 by Newsquawk Desk
- European equities are mixed/flat alongside US equity futures; the FTSE 100 lags, hampered by Basic Resources
- DXY is around flat; JPY significantly underperforms after BoJ sources, USD/JPY up to 146.45
- BoJ is said to see little need to end negative rates in December, via Bloomberg citing sources; intends to come to a decision based on data up to the last minute. Lacks proof of sustainable inflation.
- Bunds post modest gains whilst Gilts lag in...
11 Dec 2023, 06:40 by Newsquawk Desk
- APAC stocks traded mixed after recent data releases including stronger-than-expected jobs data from the US and worsening deflation in China, while this week’s upcoming risk events, including US CPI data and a slew of central bank updates, added to the cautious mood.
- DXY eked slight gains albeit with trade confined to a tight range; 10-year UST futures were little changed which provided some mild respite from post-NFP selling pressure; crude futures marginally extended on Friday's recovery...
08 Dec 2023, 11:40 by Newsquawk Desk
- MON: Norwegian CPI (Nov), Chinese M2 (Nov).
- TUE: EIA STEO; UK Unemployment Rate (Oct), German ZEW (Dec), US NFIB (Nov), US CPI (Nov), Japanese Tankan (Q4).
- WED: FOMC, BoK & BCB Policy Announcements, OPEC MOMR; UK GDP (Oct), EZ IP (Oct), US PPI (Nov).
- THU: BoE, ECB, SNB & Norges Bank Policy Announcements, IEA OMR, EU Council (1/2); Australian Employment (Nov), Swedish CPIF (Nov), US IJC (w/e 8th), Import/Export...