14 Apr 2023, 11:28 by Newsquawk Desk
- European bourses are almost entirely firmer, Euro Stoxx 50 +0.3%, with catalysts ex-earnings lights and the Stoxx 600 on track to see the week out with gains of circa. 1.5%.
- Stateside futures are tentative with a negative bias ahead of bank earnings; UNH +1.5% post-earnings.
- DXY remains below 101 but has eased off worst to the modest detriment of peers with action capped near peaks/big figures
- Fixed income spent the morning contained, but...
14 Apr 2023, 06:50 by Newsquawk Desk
- APAC stocks traded with modest and cautious gains with upside momentum somewhat waning in what was a catalyst-light session
- DXY printed fresh incremental YTD lows overnight of 100.78 as APAC players reacted to the latest batch of US data
- US House Republicans are considering a proposal that would kick the debate over the US debt limit to 2024, according to Bloomberg sources.
- European equity futures are indicative of a slightly firmer cash...
13 Apr 2023, 11:25 by Newsquawk Desk
- European bourses are somewhat mixed with heavyweight LVMH skewing performance to the upside, US futures slightly firmer
- DXY continues to retreat from NFP peaks with EUR near YTD best and GBP above 1.25
- EGBs and USTs continue to fade with only fleeting upside arising from well received Gilt supply
- ECB debate reportedly converging around 25bp for May, via Reuters; though some argue for 50bp or Unch.
- Commodities...
13 Apr 2023, 06:53 by Newsquawk Desk
- APAC stocks initially opened lower but eventually traded mixed as the region pondered over the latest US CPI report and Wall Street losses.
- FOMC Minutes suggested several participants noted they considered whether it would be appropriate to leave rates unchanged at the meeting.
- DXY traded on either side of 101.50 after finding support at yesterday's low of 101.44, EUR/USD failed to breach resistance 1.1000.
- European equity futures are...
12 Apr 2023, 11:30 by Newsquawk Desk
- European bourses and US futures are essentially unchanged despite brief geopolitical jitters ahead of US CPI.
- China intends to impose a no-fly zone near Taiwan on April 16th for a "falling object", initial guidance was reportedly for a three-day period.
- FX complex is contained with the DXY slightly softer amid mixed Fed speak, antipodeans and the EUR are marginally firmer.
- Debt continues to drift lower despite bouts of consolidation around...
12 Apr 2023, 06:51 by Newsquawk Desk
- APAC stocks saw a mixed session following a similar lead from Wall Street in the run-up to key risk events
- G10 FX pairs were mostly flat, whilst equity, bond, and crude futures traded horizontally in a pre-CPI lull
- European equity futures are indicative of a slightly softer open with the Eurostoxx 50 future -0.2% after cash markets closed +0.6% on Tuesday.
- ECB's Villeroy said we now face the risk of entrenched inflation, price growth has...
11 Apr 2023, 11:20 by Newsquawk Desk
- European bourses are mostly in the green continuing the positive APAC handover on their return to the market with newsflow otherwise limited.
- Stateside, futures are steady with a slight positive bias ahead of Fed speak before Wednesday's key events.
- DXY has lost payroll momentum to the benefit of peers particularly the CHF & EUR after initial AUD outperformance.
- EGBs slip in catch-up play but have lifted off of worst and USTs remain...
11 Apr 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mostly higher following the recovery seen on Wall Street and as some major markets returned from the long weekend
- European equity futures gapped higher on the return from the Easter break and are indicative of a firmer cash open, with Euro Stoxx 50 +0.5%
- DXY traded subdued for most of the session, USD/JPY also saw choppy price action and AUD outperformed
- Bund futures gapped lower at the open but clambered off worst levels,...
06 Apr 2023, 12:11 by Newsquawk Desk
- MON: Easter Monday - US Markets Open, Japanese Trade Balance (Feb), EZ Sentix Index (Apr).
- TUE: IMF World Economic Outlook, EIA Short-Term Energy Outlook, Chinese Inflation (Mar), Norwegian CPI (Mar), EZ Retail Sales (Mar).
- WED: FOMC Minutes, BoC Announcement, US CPI (Mar).
- THU: OPEC Oil Market Report, Australian Jobs Report (Mar), Chinese Trade Balance (Mar), UK GDP Est. (Feb), US PPI (Mar).
- FRI: EIA Oil...
06 Apr 2023, 11:28 by Newsquawk Desk
- European bourses are incrementally firmer while US futures are slightly softer in tentative pre-Easter/NFP trade.
- APAC handover was softer though Chinese Caixin data stemmed the downside.
- DXY is firmer though off the 102.05 peak with antipodeans/petro-FX softer while CHF leads with peers otherwise contained.
- EGBs have continued the week's trend and spiked to fresh highs post-Construction PMIs, USTs little changed by...
06 Apr 2023, 06:50 by Newsquawk Desk
- APAC stocks were mostly subdued amid the soft Wall St handover, albeit with the downside stemmed by Chinese Caixin Services PMI.
- RBI kept the Repurchase Rate unchanged at 6.50% (exp. 25bps hike) via unanimous decision.
- European equity futures are indicative of a flat open with the Euro Stoxx 50 unchanged after the cash market closed down 0.4% on Wednesday.
- DXY sits just above 102, EUR/USD is back on a 1.08 handle, antipodeans lags across the...
05 Apr 2023, 11:25 by Newsquawk Desk
- European bourses are mixed but with a negative skew while US futures reside just below the neutral mark.
- DXY trades either side of 101.50 with NZD initially outperforming after hawkish-RBNZ action, AUD lags.
- Fixed benchmarks are comparably contained, though pressured, with concession & RBNZ perhaps factoring.
- Crude futures have eased off of APAC highs, given the above, with focus on geopolitics/high-level...
05 Apr 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mixed after the negative lead from Wall St with trade also hampered by the closures in the Greater China region.
- RBNZ delivered a more aggressive than expected rate hike of 50bps and signalled a further rate increase to return inflation to its target.
- European equity futures are indicative of a marginally lower open with the Euro Stoxx 50 -0.2% after the cash market closed up 0.1% on Tuesday.
- FX markets were...
04 Apr 2023, 11:27 by Newsquawk Desk
- Equities have picked-up most recently after a relatively contained European morning with fresh drivers light
- GBP leads the G10-FX space to the USD's detriment, while AUD lags post-RBA despite downside being initially capped
- Fixed income is pressured with concession perhaps factoring while the 2.30% and 3.50% yield levels proving sticky
- Crude remains underpinned by the weekend's OPEC adjustment; focus otherwise on Iraq exports and...
04 Apr 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mostly positive but with gains limited following the indecisive mood stateside.
- RBA kept rates unchanged at 3.60%, as expected; board expects some further tightening may well be needed.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.1% on Monday.
- DXY is a touch firmer and holding above 102, EUR/USD lingers below 1.09, AUD marginally lags...
03 Apr 2023, 11:22 by Newsquawk Desk
- Crude outperforms after the weekend announcement of a surprise voluntary OPEC+ output cut until end-2023.
- Equities are broadly mixed/tentative as markets digest elevated oil prices against the potential inflation/Central Bank implications.
- Amidst this, the FTSE 100 outperforms while the NQ lags; APAC trade was firmer but capped by soft data release.
- USD derived initial support from the above and yield moves, though the DXY is well off best...
03 Apr 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive amid strength in the energy sector although gains in the broader market were capped as participants digested disappointing Chinese Caixin Manufacturing PMI.
- Crude rose following the surprise voluntary output cuts by OPEC+ members totalling over 1mln bpd from May through to year-end.
- Fed’s Waller (Voter) said the recent data is consistent with the idea that inflation can be brought down quickly with relatively little harm to the jobs...
31 Mar 2023, 14:44 by Newsquawk Desk
- MON: Japanese Tankan Survey (Q1), Caixin Manufacturing PMI Final (Mar), EZ/UK/US Final Manufacturing PMI (Mar), US ISM Manufacturing PMI (Mar).
- TUE: RBA Announcement, South Korean CPI (Mar), US Durable Goods R (Feb).
- WED: RBNZ Announcement; Hong Kong Market Holiday, EZ/UK/US Final Services and Composite PMI (Mar), US ADP Employment (Mar), US ISM Services PMI (Mar).
- THU: Chinese Caixin Services PMI (Mar), Canadian Ivey PMI (Mar),...
31 Mar 2023, 11:17 by Newsquawk Desk
- European bourses are slightly firmer following APAC/post-HICP; US more tentative pre-PCE.
- EZ HICP YY cooled more than expected while the core measures were in-line causing EGB upside.
- Specifically, Bunds spiked to a 135.64 peak with ECB pricing easing slightly for May.
- EUR saw fleeting movement while USD remains bid with JPY pressured into month-end.
- Commodities fairly contained amid numerous geopolitical updates...
31 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly firmer after taking impetus from the tech-led gains on Wall Street and better-than-expected Chinese PMI figures.
- Chinese Manufacturing PMI topped forecasts and Non-Manufacturing PMI rose to its highest since 2011.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 1.3% on Thursday.
- DXY is holding above the 102 mark, FX markets are...
30 Mar 2023, 11:10 by Newsquawk Desk
- European bourses are higher following cooler German-state/Spanish inflation metrics
- US futures hang onto Wednesday's upside with current gains more contained vs European peers
- USD softer with Fed speak ahead to the modest benefit of G10 peers, GBP leads with Cable above 1.2350
- Bunds led an initial rally on the inflation figures, though this has since dissipated with benchmarks now near unchanged
- Commodities benefit...
30 Mar 2023, 06:49 by Newsquawk Desk
- Nasdaq 100 entered a technical bull market after gaining 20% from its December low and the SPX closed above its 50dma for the first time in over three weeks.
- APAC stocks traded mixed as the region only partially sustained the momentum from the US.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 1.5% on Wednesday.
- FX markets are contained with the DXY steady above 102.50,...
29 Mar 2023, 11:10 by Newsquawk Desk
- European bourses/US futures are firmer as banking concerns continue to dissipate while tech outperforms.
- Upside in tech names follows updates from Infineon and Micron, MU +2.5% pre-market.
- DXY is erring lower and is sub-102.50 despite marked AUD & JPY pressure as EUR & GBP remain resilient.
- ECB's Lane says to ensure that inflation falls to 2%, further interest rate hikes are required under the scenario expected by the...
29 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive albeit with most major indices rangebound amid a lack of fresh macro drivers.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.1% on Tuesday.
- DXY is contained just above the 102.50 mark, JPY is the standout laggard in G10 FX, AUD a touch lower post-CPI.
- Softer-than-expected Australian CPI data supported the case for the RBA to pause at next...
28 Mar 2023, 11:25 by Newsquawk Desk
- European bourses were initially firmer in a continuation of the APAC tone; however, benchmarks have tilted slightly red as Banking names pare gains
- Stateside, futures are similarly softer ahead of the Senate Banking Committee hearing on the recent banking turmoil
- DXY is softer in relatively modest parameters with Antipodeans and JPY leading while CHF lags
- EGBs and USTs remain lower given the stronger APAC handover/European start, but as...