• European indices and US futures are seeing downside as the NQ -1.2% underperforms in-fitting with the tech sector lagging; while crude remains supported
  • US yields continue to extend, 10yr overnight peak 1.3940%, the debt itself is off-lows given the broader tone though still subdued
  • Pfizer/BioNTech COVID-19 vaccine is said to be 98.9% effective at preventing COVID-19 deaths and was 89.4% effective at preventing laboratory-confirmed...
  • MON: PBoC LPR Setting; Bank of Israel Policy Announcement; German Ifo Survey (Feb); New Zealand Retail Sales (Q4)
  • TUE: UK Employment Report (Dec) and Claimant Count (Jan); EZ CPI Final (Jan)
  • WED: RBNZ Policy Announcement; German GDP (Q4)
  • THU: BoK Policy Announcement; German GfK Consumer Sentiment (Mar); EZ Sentiment Survey (Feb); US Durable Goods (Jan); GDP 2nd Estimate (Q4); Australian capex; New Zealand Trade Balance...
  • Asian equity markets began the week indecisively with weekend newsflow not providing much to spur sentiment in either direction
  • In FX, the DXY remains supported with the US 10yr yield reaching 1.3940% overnight. GBP/USD maintains 1.40 status
  • UK PM Johnson is to announce his roadmap for exiting lockdown to Parliament at 1530GMT. Press conference at 1900GMT
  • UK Chancellor Sunak is reportedly set to hike UK corporation tax in the Budget...
  • European indices and US futures are supported as the RTY +0.9% outperforms with US yields firmer but off highs
  • Crude is under pressure, but off lows, as Texas weather and potential geopolitical risk-premia begins to unwind
  • Biden will reportedly say the US is not looking for a cold war with China but parties should work to challenge abusive practices, ahead of today's summit
  • Flash PMIs have been broadly firmer, with UK Services and German...
  • Asian equity markets traded negatively following a weak handover from Wall St where the major indices declined
  • House Speaker Pelosi said the House will vote on the USD 1.9trln stimulus bill at the end of next week
  • Senior Democrats discussed proposing as much as USD 3tln of additional spending on a jobs and infrastructure package
  • In FX markets, the DXY hovers around 90.50, EUR/USD eyes 1.21 and GBP/USD remains on a 1.39...
  • European indices and US futures are softer on the session as the NQ -0.8% continues to lag and European sectors are dictated by earnings; Euro Stoxx 50 -0.3%, ES -0.4%
  • Study on the Pfizer/BioNTech vaccine seemingly indicates that it is significantly less effective on the South African variant
  • WTI and Brent have drifted from best levels but remain supported by the ongoing US weather situation; APIs printed a larger than expected draw last...
  • Asian equity markets traded indecisively as the region took its cue from a similarly uninspiring lead from the US
  • FOMC minutes proved to be uneventful in which the account noted that the Fed is still far from its inflation and employment goals
  • The DXY held firm after its brief incursion above 91.00, EUR/USD capped by 1.2050, GBP/USD stuck on a 1.38 handle
  • Italian PM Draghi's government won a vote of confidence at the...
  • European indices are modestly softer while US futures are essentially flat ahead of a number of US risk events, including FOMC minutes
  • USTs are a touch firmer with yields flattening as such and off of yesterday's cycle highs of 1.33% in the 10-year
  • Crude remains bolstered amid US oil production reportedly decreasing by a third and Texas warning of fuel shortages
  • DXY is firmer and extending on initially contained ranges to the modest...
  • Asia-Pac equity markets traded mostly lower after the lacklustre handover from Wall Street
  • US Treasury yields printed fresh cyclical highs with the 10yr currently circa 1.3%
  • US President Biden said every American who wants a vaccine will receive it by the end of July
  • In FX, the DXY was choppy overnight, EUR/USD and GBP/USD remain sub-1.21 and 1.39 respectively
  • WTI crude futures hovered around the USD 60/bbl level....
  • US futures are firmer, ES +0.4%, but off earlier highs with European equities softer, Euro Stoxx 50 -0.1%, and the reflation trade resuming; Russell 200 +0.8%, US 10yr-yield surpassing 1.25%
  • Crude was initially firmer given refiners shutting facilities due to the US weather; however, benchmarks came under pressure as WTI dropped below USD 60/bbl
  • APAC trade was hindered late-doors following FT reports that China is mulling curbs on rare earth metals exports targeting...
  • Asian equity markets traded higher across the board as markets picked up from the holiday lull
  • Some gains for regional bourses and US equity futures were later reversed after reports that China is mulling curbs on rare earth metals exports, targeting the US defense sector
  • BoJ's Kuroda stated that the Bank will not end nor seek an exit from ETF purchases for the time being
  • In FX, the USD remained subdued, EUR/USD was capped by 1.2150 and...
  • Asia-Pac equity markets began the week positively with sentiment underpinned as US equity futures extended to fresh record levels
  • The UK reached its 15mln vaccination milestone while the 7-day average new infection cases in the US recently declined below 100k for the first time in more than 3 months
  • In FX, the DXY languished beneath 90.50, to the benefit of major peers, GBP/USD eyes 1.39
  • Former ECB President Draghi was sworn in as Italy’s...
  • European bourses are mixed but have recovered off earlier lows with US futures directionally similar but with magnitudes more modest; ES -0.2%
  • DXY remains elevated but shy of recent levels as EUR/USD breaches 1.2100 and USD/JPY through 105.00 where hefty expiries lie
  • Italy 5SM members voted to support a Draghi government; potentially to be sworn in this weekend
  • Russian Foreign Minister Lavrov says they are ready to break ties with the...
  • Asian equity markets were subdued in holiday-thinned trade and following a mixed lead from Wall Street
  • In FX, the DXY attempted to recoup some lost ground, EUR/USD maintains 1.21 status, GBP/USD retreated below 1.38
  • WTI crude futures retreated beneath USD 58.00/bbl and snapped an 8-day winning streak. Gold flat
  • Italy 5SM members voted to support a Draghi government
  • Looking ahead, highlights include UK GDP, Uni. of...
  • European bourses trade mixed as earnings take focus in the absence of fresh catalysts post-Powell
  • US President Biden and Chinese President Xi spoke for the first time since Biden came into office
  • US senior administration official said the US will examine new targeted restrictions on sensitive tech exports to China and will not act hastily to remove China tariffs
  • European Commission forecasts the EU economy to reach the pre-crisis level of...
  • Asia-Pac lacked firm direction as risk appetite was sapped by holiday closures for many key markets in the region and following an uninspired handover from the US
  • Fed Chair Powell reiterated recent rhetoric and highlighted the labour market is a long-way from 'strong'; emphasising that we will probably see an increase in inflation readings that won't mean much
  • President Biden and China's Xi spoke for the first time since Biden came into...
  • European bourses are contained with a slight positive bias while US futures post gains of circa 0.3%; earnings remain in focus but US CPI and Chair Powell dominate the schedule ahead
  • The session has been devoid of fresh macro drivers with mass APAC closures commencing from tomorrow
  • Chinese CPI and PPI missed estimates although still showed the first increase to producer prices in a year
  • The DXY remains under pressure but saw some brief...
  • Asian equity indices mostly traded with cautious gains as participants digested a heavy slate of corporate earnings
  • Overnight saw a lack of fresh macro drivers ahead of mass holiday closures beginning tomorrow
  • Chinese CPI and PPI missed estimates although still showed the first increase to producer prices in a year
  • In FX, the DXY remained subdued below 90.50, EUR/USD maintains 1.21 status and GBP/USD trades on a 1.38...
  • European indices remain subdued (Euro Stoxx 50 -0.3%) differing somewhat from the APAC handover; energy was the initial outperformer given updates from Total and the broader crude complex, albeit this has experienced a recent pull-back
  • Details of the US COVID stimulus plan revealed an extension of unemployment insurance to August 29th, as well as provide USD 1,400 checks at the same income level as prior rounds
  • However, payments will start shrinking when income...
  • Asian equities were mostly positive after the stimulus-driven momentum on Wall St. which lifted all major US indices to fresh unprecedented levels
  • In FX, the DXY extended its move below 91.00, EUR/USD ventured further above 1.2000 and GBP/USD traded at its best levels since 2018
  • Details of the US COVID stimulus plan revealed an extension of unemployment insurance to August 29th, as well as provide USD 1,400 checks at the same income level as prior...
  • Equity futures remain in positive-territory, ES +0.3%, but off highs after a mixed/firmer APAC handover with focus on COVID-19 developments and the reflation narrative
  • According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
  • Treasury Secretary Yellen leaned back against concerns about stoking inflation pressures, arguing that the benefits...
  • MON: EZ Sentix Index (Feb)
  • WED: Riksbank Policy Announcement; Banxico Policy Announcement; Chinese Inflation (Jan); US CPI (Jan); Norwegian CPI (Jan); US CPI (Jan)
  • THU: CBR Policy Announcement; US University of Sentiment Prelim (Feb); OPEC Oil Market Report; Japanese National Day Holiday, Chinese Spring Festival, South Korea's New Year's Day
  • FRI: UK GDP Estimate (Dec) and Prelim GDP (Q4); Hong...
  • SUN: Japanese GDP
  • MON: Eurogroup meeting; US Holiday Washington's Birthday
  • TUE: RBA Minutes (Feb); German ZEW Sentiment (Feb); EZ GDP Flash Estimate (Q4) and Employment Flash (Q4); Japanese Trade Balance (Jan)
  • WED: FOMC Minutes (Jan); UK Inflation (Jan); US Retail Sales (Jan) and Industrial Production (Jan); Canadian CPI (Jan)
  • THU: ECB Minutes (Jan); CBRT Policy Announcement; Australian Labour Market Report (Jan); EZ...
  • Asian equity markets were mostly higher and US equity futures resumed last Friday’s advances on Wall St
  • According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
  • In FX, the DXY held on to 91.00 status, EUR/USD and GBP/USD trade on 1.20 and 1.37 handles respectively
  • Senate voted to pass budget measures and fast-track...
  • European bourses have largely consolidated since the cash open (Euro Stoxx 50 +0.4%) with US futures posting similar gains aside from the outperforming Russell 2000 +0.4%
  • US Senate has now formally passed the budget measures to adopt the fast-track Biden stimulus plan; VP Harris cast the tie-break vote
  • USD remains under pressure but is off-lows with broader peers only eeking modest gains against the Buck
  • Looking ahead, highlights include US...