Newsquawk

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  • European equities hold a mild positive bias, whilst US futures lack firm direction and holds around the unchanged mark.
  • Dollar is flat alongside G10 peers, Kiwi marginally underperforms, USTs are flat in quiet newsflow, whilst Bunds are slightly softer.
  • A helicopter carrying Iranian President Raisi and Foreign Minister Amir-Abdollahian crashed due to adverse weather conditions with no survivors reported; Iran’s Supreme Leader Khamenei signalled...
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  • APAC stocks began the week on the front foot despite last Friday's indecisive performance on Wall St where the major indices traded sideways.
  • European equity futures indicate a higher open with Euro Stoxx 50 futures up 0.3% after the cash market closed down 0.2% on Friday.
  • A helicopter carrying Iranian President Raisi and Foreign Minister Amir-Abdollahian crashed due to adverse weather conditions with no survivors...
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  • MON: PBoC LPR, German PPI (Apr)
  • TUE: ECB Governing Council retreat, RBA Minutes (May), NBH Announcement, RBI Announcement, Canadian CPI (Apr)
  • WED: ECB Governing Council retreat, FOMC Minutes, RBNZ Announcement, Bank of Indonesia Announcement, Japanese Trade Balance (Apr), UK CPI (Apr)
  • THU: CBRT Announcement, EZ Q1 Negotiated Wages (TBC), EZ/UK/US Flash PMIs (May), EZ Flash Consumer Confidence (May), New Zealand Trade Balance...
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  • European bourses are mostly lower, whilst US equity futures are flat
  • Dollar is firmer, AUD underperforms after mixed Chinese data
  • Bonds are pressured, more-so in EGBs following hawkish commentary from ECB’s Schnabel
  • Crude is flat, XAU modestly firmer and base metals benefit from China's support measures despite mixed data
  • Looking ahead, Comments from Fed's Waller & Daly
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  • European bourses are mostly lower, whilst US equity futures are flat
  • Dollar is firmer, AUD underperforms after mixed Chinese data
  • Bonds are pressured, more-so in EGBs following hawkish commentary from ECB’s Schnabel
  • Crude is flat, XAU modestly firmer and base metals benefit from China's support measures despite mixed data
  • Looking ahead, Comments from Fed's Waller & Daly
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  • APAC stocks initially subdued before benefitting from the latest China property support measures
  • DXY bid with peers generally contained aside from slight JPY pressure, Yuan benefits from the property support despite soft/mixed data beforehand
  • Fixed benchmarks uneventful ex-JGBs which outperformed as the BoJ maintained the Rinban purchase amount
  • Commodities contained with specifics light, modest support on China property caveated by...
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  • European equities are mostly lower whilst US futures gain modestly
  • Dollar is firmer paring back some of the CPI-induced losses, AUD lags after mixed employment data
  • Bonds are steady, though with a very mild negative bias
  • Crude benchmarks are flat, XAU is rangebound and base metals are mixed
  • Looking ahead, US IJC, Philly Fed, BoE’s Greene, Fed’s Harker, Mester, Bostic & Barr. Earnings: Applied Materials, Deere...
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  • APAC stocks took impetus from the gains on Wall St where major indices rallied to fresh record highs.
  • European equity futures indicate a positive open with Euro Stoxx 50 future up 0.2% after the cash market closed up 0.4% on Wednesday.
  • DXY took a breather from yesterday's data-induced losses, JPY continues to gain vs. the USD. 
  • Bund futures continued their advances and crude futures remained...
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  • European bourses are mostly firmer, US futures flat ahead of US CPI & Retail Sales
  • Dollar is weaker, Antipodeans lifted on reports of Chinese support measures, USD/JPY dips
  • Bonds are firmer, continuing the post-PPI strength
  • Crude is in the green, XAU is supported given the softer Dollar & base metals are in the green
  • Looking ahead, US CPI & Retail Sales. Comments from Fed’s Kashkari. Earnings from Cisco...
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  • APAC stocks traded mostly higher following the momentum from the US where the Nasdaq posted a fresh record close.
  • European equity futures indicate a firmer open with Euro Stoxx 50 futures up 0.2% after the cash market closed flat on Tuesday.
  • DXY is sub-105, EUR/USD sits on a 1.08 handle, Cable tested 1.26 and antipodeans outperform.
  • Crude futures rebounded from the prior day's losses with prices helped by private sector inventory...
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  • Equities are mixed, with trade tentative ahead of US PPI & Powell
  • Dollar is flat, GBP softer following commentary from BoE’s Pill
  • Bonds are firmer, taking a further leg higher after BoE’s Pill before paring on ZEW
  • Crude is flat with oil-specific newsflow light, XAU is firmer and base metals are mixed
  • White House says US President Biden is directing the USTR to increase tariffs on USD 18bln of imports from...
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  • APAC stocks lacked firm conviction after the indecisive performance in the US ahead of key events.
  • European equity futures indicate a flat to incrementally firmer open with Euro Stoxx 50 futures near the unchanged mark after the cash market closed down by 0.1% on Monday.
  • FX markets are contained with DXY caged in a tight range, EUR/USD failed to sustain a 1.08 handle, USD/JPY gained a firmer footing above 156.
  • Bunds were steady...
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  • European bourses are mixed and trade around the unchanged mark; US futures are modestly firmer
  • Dollar is slightly softer weighed on by recent EUR strength, NZD lags
  • Bonds are incrementally firmer, though within contained ranges
  • Crude benchmarks are on the front foot, XAU is softer and base metals are mixed
  • Overnight focus on mixed Chinese data and then upcoming ultra-long issuance, latter development providing...
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  • Cautious APAC trade amid mixed data incl. Chinese CPI but with support from China's ultra-long issuance plans
  • DXY rangebound with peers contained, NZD lags after cooler inflation projections
  • JGBs pressured as the BoJ adjusted its 5-10yr bond buying operation for today
  • Commodities attentive to mixed commentary from the Iraq Oil Minister, metals mixed
  • Looking ahead, highlights include NY Fed Survey of Consumer...
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Week Ahead 13th-17th May:

  • SAT: Chinese Inflation (Apr)
  • MON: Eurogroup Meeting, New Zealand Inflation Forecasts (Q2)
  • TUE: OPEC MOMR, German Final CPI (Apr), UK Jobs Report (Apr/Mar), German ZEW Survey (May), US PPI (Apr)
  • WED: PBoC MLF, Riksbank Minutes, IEA OMR, Australian Wage Price Index (Q1), Swedish CPIF (Apr), EZ Flash GDP/Employment (Q1) and Industrial Production (Mar), US CPI (Apr)/Retail Sales...
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  • European bourses extend to session highs, whilst US futures post modest gains
  • Dollar is flat & GBP marginally outperforms post-GDP
  • USTs are flat, EGBs bid though to a lesser degree than Gilts, which have shrugged off hawkish GDP data
  • Crude is firmer with specifics light, XAU extends to highs and base metals benefit from the risk tone
  • Looking ahead, Canadian Jobs Data, BoC SLOOS, Chinese Money Supply, Comments...
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  • APAC stocks mostly tracked the gains in the US where a rise in initial jobless claims spurred a dovish reaction.
  • European equity futures indicate a mildly positive open with Euro Stoxx 50 future +0.2% after the cash market closed higher by 0.3% on Thursday.
  • DXY is mildly firmer in what has been a quiet session for FX overnight, antipodeans marginally lag.
  • Crude futures mildly extended on gains, Bunds remain afloat after the recent...
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  • European equities are mixed, Stateside futures lower with slight underperformance in the RTY
  • Dollar is firmer, G10s in the red and USD/JPY now just shy of 156.00
  • Bonds pressured in a continuation of recent action; Gilts underperform slightly ahead of the BoE
  • Crude is firmer, XAU flat and base metals mostly lower
  • Looking ahead, US IJC, NZ Manufacturing PMI, BoE Policy Announcement, BoE DMP, Banxico Policy...
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  • APAC stocks were mixed following the indecisive performance stateside, while somewhat mixed but improved Chinese trade data had little impact.
  • European equity futures indicate a flat open with Euro Stoxx 50 futures unchanged after the cash market closed higher by 0.4% on Wednesday.
  • DXY is steady near the 105.50 mark with price action in the FX space contained.
  • Bunds extended on their recent pullback, Crude remains afloat after...
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  • European equities are entirely in the green, whilst Stateside futures are a little more tentative
  • Dollar is incrementally firmer, G10s peers softer to various degrees, AUD & JPY underperform
  • Bonds pressured, taking a breather from this week’s advances
  • Crude slips with geopolitical updates light, XAU and base metals are pressure from the Dollar and downbeat Chinese price action overnight
  • Looking ahead, US...
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  • APAC stocks were mostly lower after the choppy US performance and in the absence of fresh catalysts.
  • European equity futures indicate a marginally softer open with Euro Stoxx 50 futures down 0.1% after the cash market closed higher by 1.2% on Tuesday.
  • USD is firmer with USD/JPY back above 155, EUR/USD sits below 1.0750 and Cable lost 1.25 status.
  • Israeli PM Netanyahu's spokesman said Hamas's proposal is far from Israel's demands and the gaps...
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  • European equities are entirely in the green; US futures are mixed
  • Dollar is slightly firmer, Aussie underperforms following the RBA, USD/JPY now around 154.50
  • Bonds are firmer and extending on the prior day’s gains; Gilts outperform on their return from holiday
  • Crude is flat awaiting geopolitical updates, XAU softer and base metals are mixed
  • Looking ahead, US RCM/TIPP Economic Optimism, CBR Policy Announcement, EIA...
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  • APAC stocks were mixed as the region only partly sustained the momentum from Wall St where the major indices extended on post-NFP advances amid rate cut hopes, while key markets returned from the long weekend.
  • DXY was uneventful, USD/JPY continued to pick itself up from last week's trough and reclaimed the 154.00 status, AUD/USD was pressured after the RBA announcement.
  • RBA kept the Cash Rate Target unchanged at 4.35%, as expected, while it reiterated the Board...
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  • Equities are entirely in the green; Apple -1.1% is lower pre-market after Berkshire Hathaway decreased its stake in Q1
  • DXY is flat, EUR unreactive to PMIs & USD/JPY holds just under 154.00
  • Bonds are modestly firmer, with initial upside in Bunds trimmed slightly by large upward revisions to EZ PMIs
  • Crude is firmer with Rafah in focus, XAU is bid and base metals benefit from the risk tone
  • Looking ahead, US...
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  • Positive bias for APAC stocks after the US jobs report but with varied performance on the holiday return
  • DXY remains near 105.00 with peers flat/mixed ex-JPY which has seen USD/JPY recoup Friday's losses
  • Commodities supported as geopolitical tensions intensify with Gaza talks reportedly near collapsing and civilians being evacuated from Rafah
  • Fed speak in focus with Williams & Goolsbee over the weekend, though fixed action limited with...
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