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  • APAC stocks were softer across the board after US stocks sold off on Friday, with losses broad-based
  • DXY was indecisive around the 113.00 level, GBP/USD reclaimed the 1.1200 status with the currency underpinned following the fiscal U-turns in the UK and after BoE Governor Bailey
  • BoE Governor Bailey said they will not hesitate to raise interest rates to meet the inflation target; UK Chancellor Hunt said ‘yes’ when asked if he can change the mini-Budget...
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  • SUN:: Chinese CCP National Congress.
  • MON: New Zealand CPI (Q3).
  • TUE: RBA Minutes, Chinese GDP (Q3)/Retail Sales (Sep)/Industrial Output (Sep), German ZEW Survey (Oct).
  • WED: UK Inflation (Sep), EZ Final CPI (Sep), Canadian CPI (Sep).
  • THU: PBoC LPR Announcement, CBRT Announcement, Bank of Indonesia Announcement, Australian Jobs Report (Sep), US Philly Fed.
  • FRI: Japanese CPI (Sep), UK...
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  • European bourses trade on a firmer footing in an extension of yesterday’s gains; US futures are more contained
  • DXY hovers around 113.00; GBP sits as the laggard as it unwinds some of the prior day's gains, USD/JPY topped yesterday's high of 147.67
  • Gilts are back above 97.00 amidst further reports that some economic plans may be reversed by the UK PM later today who to hold a press conference today at 14:00BST/09:00EDT
  • North Korea fires...
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  • APAC stocks took impetus from the aggressive rebound on Wall St (SPX +2.6%) where stocks made a remarkable comeback from the initial CPI-related selling.
  • European equity futures are indicative of a higher open with the Euro Stoxx 50 future +1.8% after the cash market closed with gains of 0.9% yesterday.
  • DXY remains on the backfoot, Cable sits on a 1.13 handle, EUR/USD lingers around 0.98 and antipodeans outperform.
  • UK PM Truss could...
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  • European bourses saw a choppy start to the session but have since been trending higher, with US futures are moving in tandem
  • DXY declined under 113.00 as GBP strengthened; EUR and Antipodeans gain whilst USD/CNH tested 7.2000 to the upside
  • US Treasuries are observing some caution whilst EU bonds trim yesterday's losses and Gilts outperform
  • Fed's Bowman (voter) said sizeable rate hikes should remain on the table if they do not see signs that...
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  • APAC stocks traded cautiously following the soft handover from Wall Street post-PPI and FOMC minutes.
  • FOMC minutes noted that officials judged they needed to move to and maintain a more restrictive policy stance, although several participants noted that risks could become more two-sided.
  • European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.5% after the cash market closed with losses of 0.3% yesterday.
  • DXY...
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  • European bourses saw a choppy start to the session, but have since titled to the upside; US equity futures trade on a firmer footing with the ES back above 3600
  • GBP was volatile but currently stands as the outperformer, DXY is softer but off worst levels, USD/JPY to a fresh 2022 and multi-year best
  • BoE said the bank has made it clear from the outset that its temporary and targeted purchases of gilts will end on October 14th
  • Polish pipeline...
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  • APAC stocks were subdued with price action indecisive as the region took its cue from the choppy performance and late selling stateside.
  • BoE Governor Bailey appeared to reject industry calls for an extension to Gilt purchases. However, an FT report later suggested that purchases could be prolonged.
  • European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.2% after the cash market closed with losses of 0.5%...
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  • European bourses are once again underwater; US futures are also on the backfoot with the ES Dec'22 contract dipping below 3600
  • DXY is firmer on the day with a current intraday high of 113.50, G10s are mixed vs the USD with the CAD and AUD the laggards
  • Schatz and Bund futures both retreated to new intraday lows, 10yr UK debt future also recoiled to a deeper Liffe low, and US Treasuries are narrowly mixed 
  • BoE said it intends to purchase...
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  • APAC stocks traded with a negative bias as several markets returned from the long weekend and reacted to the recent bearish themes.
  • European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.6% after the cash market closed with losses of 0.6% yesterday.
  • DXY extended above 113, AUD lags G10 FX again, USD/JPY failed to make a YTD peak, EUR/USD retreated below 0.97.
  • Fed Vice-Chair Brainard that easing...
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  • European bourses kicked the week off on the backfoot but have since trimmed losses; US equity futures are mostly softer but off lows.
  • DXY extends on Friday's gains with the index back above the 113.00 mark, AUD lags and USD/CNH topped 7.1500.
  • Bunds and US Treasuries are off best levels amidst hawkish ECB rhetoric and an upturn in overall risk sentiment whilst Gilts are still deeply underwater.
  • Explosions were reported across several...
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  • APAC stocks were negative in holiday-thinned trade, while the region digested a contraction in Chinese Caixin PMI and Friday's NFP.
  • European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.7% after the cash market closed with losses of 1.7% on Friday.
  • DXY stalled out just ahead of 113, FX is otherwise contained, AUD lags peers.
  • Russian President Putin described the Crimea bridge explosion as an act of terrorism...
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  • MON: Norwegian CPI (Sep); EZ Sentix Index (Aug); Japan Holiday.
  • TUE: UK Jobs Report (Sep).
  • WED: G20 Meeting (1/2); BoK Announcement; UK GDP (Aug); US PPI (Sep); FOMC Minutes (Sep); EIA STEO; Hong Kong Holiday.
  • THU: G20 Meeting (2/2); German Final CPI (Sep); Swedish CPI (Sep); US CPI (Sep).
  • FRI: Chinese Inflation (Sep); Chinese Trade Balance (Sep); Indian Inflation (Sep); US Retail Sales (Sep); US University...
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  • European bourses are modestly on the backfoot, though have trimmed this slightly as the session progresses, in limited newsflow pre-NFP.
  • Stateside, futures are similarly contained and lie either side of the unchanged mark with NQ -0.1% modestly lagging amid yield upside
  • Typically tense pre-NFP trade has seen the DXY briefly dip below 112.00, to a 111.94 low, before regathering itself and holding marginally above the figure.
  • Core benchmarks...
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  • APAC stocks were lower as the region followed suit to the weak performance seen in global counterparts (S&P 500 -1.02%)
  • European equity futures are indicative of a softer open with the Euro Stoxx 50 future -0.4% after the cash market closed with losses of 0.4% yesterday.
  • FX markets were contained overnight, DXY held onto 112 status, EUR/USD lingers around 0.98, Cable sits on a 1.11 handle.
  • Fed officials continued to push back against the...
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  • European bourses are under modest pressure as sentiment broadly takes a slight turn for the worst amid limited newsflow as participants look to Friday's NFP.
  • USD benefits from the mentioned risk tone, with the DXY extending to a 111.35 peak to the modest detriment of peers; though EUR is relatively resilient.
  • Gilts are once again the standout laggard following rating agency action and the BoE DMP showing inflation pressures were already elevated MM before the fiscal...
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  • APAC stocks traded mixed following a lacklustre lead from the US where the major indices paused their two-day rally.
  • European equity futures are indicative of a higher open with the Euro Stoxx 50 future +1.3% after the cash market closed with losses of 1.1% yesterday.
  • DXY lingers just below 111.00, EUR/USD has reclaimed 0.99 status, Cable is back on a 1.13 handle, Antipodeans lead the majors.
  • Crude was uneventful overnight but held on to the...
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  • European bourses are under pressure following the strong gains seen in Tuesday's session with fresh newsflow fairly limited heading into key US data, Euro Stoxx 50 -1.1%.
  • Stateside, ahead of those metrics which will be eyed for further clues around a 'pivot', futures are under similar pressure
  • USD has benefited from a rebound in yields and perhaps on phycological/technical grounds, DXY nearing 111.00 to the detriment of peers
  • Core debt is...
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  • APAC stocks traded higher across the board as the region sustained the momentum from Wall St where major indices extended their rally (SPX +3.06%, NDX +3.14%).
  • European equity futures are indicative of a softer open with the Euro Stoxx 50 future -0.5% after the cash market closed with gains of 4.3% yesterday.
  • DXY attempted to nurse some of its recent losses, cable and EUR/USD stalled just ahead of 1.15 and parity respectively. 
  • The US...
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  • European bourses have commenced the session on the front foot as broader sentiment remains constructive largely in a continuation of yesterday's recovery.
  • Stateside performance is very in-fitting, ES +1.5%, ahead of Fed speak and after a constructive update from Foxconn.
  • USD continues to pullback to the broad benefit of peers, DXY sub-111.00 at worst while Cable reclaims 1.14
  • Core debt is bid across the board, though has since dipped from...
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  • APAC stocks notched firm gains as the region took impetus from the strong performance on Wall St (SPX +2.59%, NDX +2.36%).
  • European equity futures are indicative of a higher open with the Euro Stoxx 50 future +1.5% after the cash market closed with gains of 0.7% yesterday.
  • The RBA slowed down the pace of rate hikes with a surprise 25bps increase instead of the expected 50bps move.
  • DXY remains sub-112, AUD lags post-RBA, cable sits on a 1.13...
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  • European equities have kicked the week off on the backfoot following the selling pressure seen on Wall Street on Friday whilst the APAC session saw holiday-thinned conditions
  • US futures are more of a mixed bag with the tech-laden NQ incrementally lagging peers.
  • Cable lifted to a 1.1279 best sending DXY below 112.00; however, this action has since eased with peers heavily mixed vs. USD
  • Core benchmarks lifted markedly alongside the...
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  • APAC stocks were mostly lower as the region failed to shrug off the negative mood following last Friday’s losses on Wall St.
  • European equity futures are indicative of a lower open with the Euro Stoxx 50 future -1.7% after the cash market closed with gains of 1.2% on Friday.
  • DXY has reclaimed 112, GBP lags G10 FX and hovers just below 1.11, antipodeans lead the majors.
  • OPEC+ sources on Sunday said the group may opt for cuts over 1mln...
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Week Ahead October 3-7th, 2022:

  • MON: BoJ SOO, Bank of Israel Announcement, Japanese Tankan Survey (Q3), Swiss CPI (Sep), EZ/UK/US Final Manufacturing PMI (Sep), US ISM Manufacturing PMI (Sep)
  • TUE: RBA Announcement, US Durable Goods (Aug)
  • WED: RBNZ Announcement, South Korean CPI (Sep), German Trade Balance (Aug), EZ/UK/US Final Services & Composite PMI (Sep), US ADP (Sep), Canadian Trade Balance (Aug), US ISM Services PMI (Sep), OPEC+...
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  • European equities are attempting to claw back some of yesterday’s downside on quarter and month end; US futures similarly bid
  • GBP's revival has continued ahead of a meeting between PM Truss and the OBR, with a statement expected
  • A move that has taken Cable above 1.12 but shy of mini-Budget levels; DXY sub-112.00 at worst, though still firmer overall.
  • Debt Benchmarks bid but modestly off best levels with Bunds leading the charge, but well...
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