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  • Asian equity markets began the week quiet amid holiday-thinned conditions with the absence of key markets; US equity futures traded flat with a mild upside bias
  • In FX, DXY remained above 90.50; EUR/USD printed on either side of 1.2100; GBP/USD tested 1.4100 to the downside
  • White House said the G7 agreed to a new global infrastructure initiative named the Build Back Better World or B3W to rival China’s Belt & Road initiative
  • UK government...
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  • European bourses began tentative but have picked up modestly as the session progressed, while US futures pivot the U/C mark
  • Basic resource names outperform given base metals overnight while banks lag on the ongoing yield pullback and crude remains supported
  • DXY remains bid but off the weekly high with peers lower across the G10 board but magnitudes relatively slim
  • UK PM Johnson is said to mull a four-week postponement before ending COVID-19...
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  • Asian equity markets traded mixed as the region only partially benefitted from the momentum in the US
  • In FX, DXY traded in a tight range on either side of 90.00, EUR/USD and GBP/USD remained sub-1.2200 and below 1.4200 respectively
  • ECB sources said three policymakers wanted to cut PEPP purchases; some differed on bond-buying needs in thin summer markets
  • UK PM Johnson is said to mull a four-week postponement before ending COVID-19...
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  • European bourses are mixed/flat ahead of US CPI and the ECB while US futures are marginally diverging as the NQ modestly lags on firmer yields
  • The USD is firmer with peers mixed but contained while fixed income modestly pares recent upside and the US 10yr yield back to 1.50%
  • US and Chinese commerce chiefs reportedly agreed to push forward with trade and investment ties; supporting APAC trade
  • A bipartisan House group unveiled an 8-year...
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  • Asian equity markets traded higher as US-China dialogue helped the region shrug off early cautiousness
  • US and Chinese commerce chiefs reportedly agreed to push forward with trade and investment ties
  • The DXY maintains 90.00 status, EUR/USD sits on a 1.21 handle and GBP/USD eyes 1.41 to the downside
  • A bipartisan House group unveiled an 8-year package valued at USD 1.25tln which would avoid corporate and income tax...
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  • European bourses are mixed/flat in a relatively quiet EU session while US futures have been unmoved for the morning
  • Chinese CPI missed forecasts while PPI continued to surge and registered the fastest pace of increase in factory gate prices since 2008
  • Talks between US President Biden and Senator Capito have officially ended with Biden moving onto talks with a bipartisan group of senators
  • DXY is sub-90 with peers firmer across the board and...
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  • Asian equities traded mixed with price action confined to relatively tight ranges
  • Chinese CPI missed forecasts while PPI continued to surge and registered the fastest pace of increase in factory gate prices since 2008
  • Talks between US President Biden and Senator Capito have officially ended with Biden moving onto talks with a bipartisan group of senators
  • In FX, the DXY holds on to 90.00 status, EUR/USD and GBP/USD trade on 1.21 and 1.41...
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  • European cash and US equity future remain contained overall though were fleetingly pressured on multiple website outages globally with Fastly possible the cause; newsflow which lifted core debt to fresh highs
  • In FX, DXY gains a firmer footing above 90.00; GBP and JPY lag whilst the NOK was lifted on the Norges Bank Survey
  • US is reportedly planning trade talks with Taiwan; China is said to be moving ahead and making progress on legislation to counter US...
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  • Asian equity markets lacked direction following a similar indecisive performance on Wall Street
  • In FX, the DXY holds on to 90.00, EUR/USD remains sub-1.22 and GBP/USD retreats further
  • Reports suggest that the UK's June 21st reopening plans could be delayed by two weeks
  • US Republican Senator Capito was said to not sound too optimistic about talks with President Biden ahead of today’s meeting
  • Looking ahead, highlights...
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  • European bourses are contained in tentative and quiet trade during ECB & Fed blackout periods while US futures are faring marginally worse; ES -0.2%
  • The DXY is essentially unchanged with peers somewhat mixed while core debt errs lower and yields are raised but still sub pre-NFP levels
  • President Biden rejected the Republican infrastructure proposal although still plans to meet with Republican Senator Capito today
  • Treasury Secretary Yellen...
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  • MON: German Industrial Orders and Manufacturing Output (Apr); EZ Sentix Index (Jun
  • TUE: Japanese GDP R (Q1); EZ Employment Final (Q1) and GDP R (Q1); Norges Bank Regional Network Report (Q2); German ZEW Survey (Jun) EIA STEO
  • WED: BoC Policy Decision; Chinese Inflation (May); German Trade Balance (Apr)
  • THU: ECB Policy Decision; US CPI (May); Norwegian CPI (May); OPEC MOMR; Iranian Nuclea
  • FRI: UK GDP Estimate...
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  • Asian equities traded cautiously as the initial tailwinds from last week’s US jobs report eventually faded amid softer than expected Chinese trade data
  • In FX, the DXY remains above 90.00, EUR/USD consolidated above 1.2150 and GBP/USD pulled further away from 1.42
  • President Biden rejected the Republican infrastructure proposal although still plans to meet with Republican Senator Capito today
  • Treasury Secretary Yellen suggested that a slightly...
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  • European bourses exhibit indecisive and lacklustre trade; US equity futures are also uneventful
  • DXY has waned off best levels but remains above 90.50, EUR/USD holds on to 1.21 status and GBP/USD reclaimed 1.4100
  • EU regulators have opened a probe into Facebook (FB) marketplace; Facebook -1% pre-market
  • Looking ahead, highlights include US and Canadian Jobs Reports, US Factory Orders, Fed’s Powell, ECB’s Lagarde, Villeroy, PBoC’s Yi...
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  • Asian equity markets traded cautiously following the tech-led declines in the US and with sentiment constrained by US-China tensions
  • RBI kept rates unchanged as expected but eventually announced further QE purchases
  • DXY remains firm above 90.50, EUR/USD holds on to 1.21 status and GBP/USD trades sub-1.41
  • Fed's Williams suggested it makes sense for the Fed to be thinking through options it has in the future but doesn't think it is currently...
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  • European equities and US equity futures trade lower following a mixed APAC lead
  • In FX, the DXY probes 90.00 after briefly topping the level, EUR/USD and GBP/USD trade on either side of 1.2200 and 1.4200 respectively
  • Russian National Wealth Fund is to exit USD assets with the new structure expected to come into force within a month
  • US Senate Republicans and the White House are said to remain hundreds of billions of dollars apart on the...
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  • Asian equity markets eventually traded mostly positive as the region gradually broke free from the mundane tone from Wall Street
  • President Biden is to amend former President Trump's China blacklist to target key industries
  • Fed announced plans to offload its corporate bond and ETF holdings that were purchased last year
  • In FX, the DXY remains sub-90.00, EUR/USD hovers around 1.22 and GBP/USD sits just above...
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  • European bourses remain caged amid a lack of catalysts; US equity futures are similarly flat
  • DXY reclaimed 90.00, EUR/USD lost 1.22 status and GBP/USD sits sub-1.4150
  • Brent crude futures reclaimed USD 71/bbl whilst Iranian nuclear parties talks are adjourned for at least a week
  • Looking ahead, highlights include US Private Inventories, ECB’s Lagarde, Weidmann, Fed’s Harker, Evans, Bostic, Kaplan, Kashkari

CORONAVIRUS...

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  • Asian equity markets traded mixed following a similar indecisive performance in the US where the mood was tentative
  • DXY remains below 90.0, EUR/USD maintains 1.22 status and GBP/USD sits sub-1.42
  • Brent crude futures settled above USD 70/bbl yesterday for the first time since May 2019
  • Looking ahead, highlights include German Retail Sales, US Private Inventories, RBA’s Debelle, Bullock, ECB’s Elderson, Lagarde, Fed’s Harker, Evans, Bostic,...
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  • European equities opened on a firmer footing and extended gains; US equity futures also see broad-based gains but to a lesser extent
  • In FX, the DXY remained subdued beneath 90.00, EUR/USD reclaimed 1.22 and GBP/USD reached its highest level since early 2018 before losing 1.4200 status
  • US President Biden will meet with Sen. Capito on Wednesday; Senate Republicans have downplayed chances of an infrastructure deal this week
  • The RBA maintained...
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  • Asian equity markets traded mixed after lacking direction from the US and ahead of upcoming key risk events
  • In FX, the DXY remained subdued beneath 90.00, EUR/USD reclaimed 1.22 and GBP/USD reached its highest level since early 2018
  • RBA maintained rates as expected, reiterated its guidance that suggests conditions will not be met for a rate hike until 2024 at the earliest
  • OPEC+ is not expected to discuss output beyond July and wants to wait...
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  • MON: Israel Rate Decision; Chinese Official PMI (May); German Prelim. CPI (May); UK and US market holidays.
  • TUE: RBA Policy Decision; JMMC Meeting; Chinese Caixin Manufacturing PMI Final (May); German Retail Sales (Apr) and Unemployment; EZ and UK Manufacturing PMI Final (May); EZ Flash CPI (May); Canadian GDP (Q1); US ISM Manufacturing PMI (May) and Markit Manufacturing Final PMI (May).
  • WED: Israeli Presidential Election; EU Commission Fiscal Proposals/Guidance; Australian Real GDP (Q1).
  • THU:...
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  • Asian equity markets began the week subdued with risk appetite sapped amid holiday closures for key global markets
  • Headline Chinese Manufacturing PMI slightly missed expectations whilst Non-Manufacturing topped forecasts
  • DXY heads into the EU session around 90.00, EUR/USD trades circa 1.22 and GBP/USD eyes 1.42
  • Key GOP Senators in infrastructure discussions with the White House suggested over the weekend that they were still looking for a...
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  • Equities are mildly positive this morning in a contained/apprehensive move ahead of data and into month-end
  • FX has for the most part been contained with the DXY holding 90.00 and JPY sub-110.00 with OpEx in focus but attention on the Yuan after a strong PBoC fix
  • ECB's Schnabel says a premature removal of ECB support would be a great mistake though financing conditions remain favourable; welcomed the recent yield increase
  • Salesforce beat on...
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  • Asian equity markets traded mostly higher; Nikkei 225 outperformed on the back of the weaker JPY
  • In FX, the DXY consolidated around 90.00, USD/JPY hovered close to 110.00; and the Yuan continued to strengthen
  • US bipartisan bill to counter China received enough support to advance in the US Senate
  • BoJ is reportedly to consider a 6-month extension to the September deadline for the pandemic-relief program
  • OPEC+ is...
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  • European bourses have been choppy but generally directionless and rangebound while US futures see a marginal negative bias
  • DXY is oscillating the 90.00 mark with little conviction in moves either way and peers essentially unchanged across the board and similar action seen across debt thus far
  • The call between China's Vice Premier Liu He and USTR Tai was said to be candid and constructive, while both sides agreed to maintain communication
  • US...
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