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  • European equities remain downbeat but have nursed some losses throughout a relatively quiet European session thus far
  • US President Trump said he supports something like a plan for coronavirus relief proposed by the bipartisan group, adding “we are getting closer to a deal on coronavirus relief”
  • BoJ left policy unchanged as expected but revised their economic assessment higher; Brazil’s selic rate was also U/C
  • FX sees the DXY modestly downbeat but has been choppy throughout the morning with major...
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  • FOMC left rates on hold as expected, sees rates unchanged at least through 2023 and maintained the asset purchase schedule
  • The Committee will aim to achieve inflation moderately above 2% for some time so that inflation averages 2% over time
  • Asian equity markets traded subdued as the soured mood rolled over into the region from the uninspiring finish on Wall St
  • Reports suggested that Oracle’s TikTok bid left US security concerns unaddressed
  • BoJ kept policy settings unchanged and upped its...
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  • European bourses are mixed/flat in a pullback from the mornings grinding bid; US futures are firmer by ~0.4%
  • DXY is downbeat but still holds above yesterday’s low to the modest benefit of major peers
  • White House Chief of Staff Meadows said the USD 1.5tln proposal from bipartisan lawmakers does not align with the Trump administration's priorities although could pave opening for further talks
  • Crude is supported amidst Hurricane Sally effects, which has now made landfall and an unexpected sizeable...
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  • Asian equity markets traded mixed and only partially benefitted from the tech-led gains in US
  • DXY trades mildly softer, whilst remaining on a 93.00 handle, EUR/USD hovers around 1.1850 and GBP/USD trades sub 1.2900
  • A 50-member House bipartisan group proposed a USD 1.5tln stimulus package in an effort to break the deadlock; rejected by Democrats and the administration
  • BSEE estimated Hurricane Sally has cut 26.9% of US gulf offshore oil...
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  • European stocks saw an uninspiring open but have since seen upside despite a lack of fresh catalysts
  • ByteDance plans to restructure TikTok with its new investors which would see Oracle (ORCL) and Sequoia Capital taking stakes
  • IEA cut its 2020 crude oil demand forecast by 200k BPD and expects the recovery in oil demand to decelerate markedly in H2
  • The DXY lost further ground after slipping below 93.00; EUR/USD trades just beneath 1.1900,...
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  • Asian equity markets were somewhat mixed as the region only partially sustained the momentum from the firm US handover
  • ByteDance plans to restructure TikTok with its new investors which would see Oracle (ORCL) and Sequoia Capital taking stakes
  • UK government won the vote on the Internal Market Bill by 340-263 which now moves the bill to the Committee Stage of the legislation process
  • The DXY lost further ground after slipping below 93.00;...
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  • Early gains in European equities fizzled out whilst US equity futures hold onto gains
  • US Ambassador to China abruptly stepped down, with a replacement unlikely before US elections according to sources
  • AstraZeneca (AZN LN) and the University of Oxford have resumed their coronavirus vaccine trial
  • ByteDance reportedly picked Oracle as the winning bidder for its TikTok operations in US; latest sources said ByteDance will not sell to either...
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  • MON: EU/China Meeting; Japanese LDP Leadership Vote; EZ Industrial Production; Indian Trade Balance; OPEC MOMR
  • TUE: RBA Minutes, Norges Bank Regional Network Report; Chinese Retail Sales; UK Labour Market Report; German ZEW Survey; US Industrial Production; IEA MOMR
  • WED: FOMC Monetary Policy Decision; UK Inflation; US Retail Sales; Canadian CPI; New Zealand GDP
  • THU: BoE, BoJ, SARB Monetary Policy Decision; RBA Bulletin; Australian Labour...
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  • Asian equity markets were positive across the board and US equity futures also began the week on the front foot
  • AstraZeneca (AZN LN) and the University of Oxford have resumed their coronavirus vaccine trial
  • ByteDance reportedly picked Oracle as the winning bidder for its TikTok operations in US
  • UK senior Tories are refusing to back down on their revolt against PM Johnson regarding the Internal Market Bill
  • The DXY was marginally softer overnight, allowing EUR/USD to test 1.1850 to the upside...
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  • European equities are modestly subdued unable to follow the largely positive APAC handover, while US futures are firmer but off highs
  • UK PM Johnson is facing a revolt by as many as 30 Tory MPs over the Internal Markets bill; to address Party at 17:30BST/12:30ET
  • President Trump refuted reports he is to extend the TikTok deadline
  • FX sees the USD softer weighed on by antipodeans & EUR with the latter bolstered via EUR/GBP action
  • Looking ahead, highlights include UK GDP, US CPI, ECB's...
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  • Asian equity markets trade mixed as the region partially shrugged-off the weak performance stateside where all major indices declined amid selling in tech and energy
  • UK PM Johnson is facing a revolt by as many as 30 Tory MPs over the Internal Markets bill
  • ECB policymakers agreed to look through euro strength at the September meeting and judged the currency broadly in line with economic fundamentals, according to sources
  • DXY is mildly softer following yesterday’s gains, EUR/USD stabilised on a...
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  • Trade has been tepid with European equities roughly U/C at present as focus turns firmly to the ECB decision
  • FX sees the DXY modestly softer but holding above 93.00 while the EUR is a touch firmer
  • EU is reportedly mulling legal action against the UK for its attempt to override parts of the Withdrawal Agreement
  • BoJ is expected to offer a more upbeat view on the economy, output and exports than that presented in July at its upcoming...
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  • Asia-Pac bourses were mostly positive after taking advantage of the constructive handover from the US where tech staged a rebound
  • The EU is reportedly mulling legal action against the UK for its attempt to override parts of the Withdrawal Agreement
  • The DXY was lacklustre following the prior day’s weakness, EUR/USD trades above 1.18 on ECB day whilst GBP/USD remains sub-1.30
  • Saudi Arabia reportedly plans to keep oil production steady despite a recent slump in prices, according to the...
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  • Sentiment has stabilised and mounted a recovery as APAC/AstraZeneca pressure abated; Nasdaq future outperforms +2.0%
  • AstraZeneca (AZN LN) vaccine trials with the University of Oxford have reportedly been placed on hold due to an adverse reaction in a UK participant
  • NIH Fauci said Moderna and Pfizer/BioNTech COVID vaccine trials are expected to be enrolled by the end of September
  • FX sees the USD firmer and GBP lagging once again ahead of the Internal Market Bill publication while CAD has pared losses...
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  • Asian equity markets were lower across the board amid strong headwinds from Wall St where the tech rout intensified on return from the long weekend
  • AstraZeneca’s COVID-19 vaccine trial with the University of Oxford has reportedly been placed on hold due to an adverse reaction in a UK participant
  • Senior UK Sky News sources believe UK Chief Brexit Negotiator Frost has concluded that a deal with the EU is not achievable without fundamentally compromising UK red...
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  • Sentiment has slipped as US participants return following a positive APAC handover; Nasdaq 100 future 2.5% lower and once again the laggard
  • USD benefits from the deterioration in sentiment to the detriment of all major peers with GBP feeling the brunt after yesterday’s slide following further downbeat Brexit reports
  • Indian and Chinese troops are in a stand-off at a location near North of Rezangla heights in Eastern Ladakh, 30-40 soldiers reportedly involved from the...
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  • Asian equity markets traded mostly positive, following the upbeat performance in EU counterparts
  • Gains in the region were moderated after US President Trump suggested the idea of decoupling the US economy from China
  • UK PM Johnson is to reportedly tell the EU that the Brexit deal must be rewritten in order to protect the Union, according to The Telegraph
  • In FX, the DXY held on to mild gains above 93.00, EUR/USD briefly slipped below 1.18 and GBP remains pressured by Brexit concerns
  • Looking...
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  • Asian equity markets began the week indecisively as the region reflected on Friday’s US jobs release and continued tech-related losses on Wall St
  • Mixed Chinese trade data and ongoing tensions with the US added to the cautious approach
  • The DXY heads into the EU open relatively flat below 93.00; GBP pressured by the latest Brexit updates
  • UK PM Johnson has set a trade deal deadline for October 15th and is reportedly planning new legislation that would override key aspects of the withdrawal...
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  • Sentiment has picked up since the European cash open; Banking sector outperforms
  • US equity futures have mostly nursed losses, NQ remains the underperformer
  • US Treasury Secretary Mnuchin and House Speaker Pelosi reportedly plan to keep stimulus additions out of the funding bill to make the bill easier to pass
  • BoE's Saunders considers it likely that additional monetary easing will be appropriate to achieve a sustained return to the 2% inflation target
  • US curve is bear steepening; DXY remains...
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  • APAC stocks took the downbeat lead from Wall Street, which saw the Nasdaq shed over 5% amid the stock rout
  • White House Chief of Staff Meadows said they are eyeing a number of other Chinese apps regarding threats
  • UK Chancellor Sunak was warned that rebels in the UK Conservative Party will vote against the Autumn budget if the government proceeds with tax increases
  • NATO Secretary General announced Greece and Turkey have agreed to enter talks...
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  • European stocks remain in firm positive territory, but US equity futures diverge from counterparts across the pond
  • US Senate Majority Leader McConnell suggested doubts on whether Congress can get an agreement of a COVID-19 relief bill when Congress returns to Washington from the recess
  • Top ECB officials are said to be concerned of a strengthening EUR; a council member said the EUR rise will likely require the ECB to further cut inflation projections next week
  • White House is reportedly to clarify the...
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  • APAC stock markets traded mostly higher after a firm lead from Wall Street; but gains in China faded
  • Top ECB officials are said to be concerned of a strengthening EUR; a council member said the EUR rise will likely require the ECB to further cut inflation projections next week
  • European Centre for Disease Prevention and Control said COVID-19 infections in Europe are "almost back" to March levels
  • NIH’s Dr Fauci said based on COVID-19 vaccine...
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  • European bourses are elevated this morning shaking off the mixed APAC handover and taking direction from Wall St.
  • US Secretary of State Pompeo said to expect an administration announcement in the coming days or weeks on China
  • US House Speaker Pelosi’s office that there was no agreement on areas of funding Treasury Secretary Mnuchin testified about
  • FX sees the USD firmer but within a relatively narrow range to the detriment of major peers with EUR downside exacerbated via EUR/GBP
  • Looking...
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  • Asian equity markets were mixed as the region partially sustained the momentum from the fresh record highs on Wall St.
  • In FX markets, the DXY has reclaimed 92.00, EUR/USD sits just above 1.19 and GBP/USD trades just below 1.34
  • ECB’s Lane says the ECB does not target the FX rate but the EUR/USD rate does matter
  • Fed's Brainard suggested the importance is for Fed policy to pivot to accommodation from stabilisation in the coming months
  • Looking ahead, highlights include US ADP Employment, Factory...
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  • Stocks have been modestly choppy but generally rangebound throughout the morning; currently, US futures are firmer with Nasdaq outperformance
  • China’s Caixin Manufacturing PMI beat & EZ CPI dropped into negative territory
  • US Treasury Secretary Mnuchin said House Speaker Pelosi and Senate Minority Leader Schumer do not want to negotiate in good faith regarding COVID-19 relief legislation
  • RBA left policy U/C overnight and reiterated forward...
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