14 Nov 2024, 07:03 by Newsquawk Desk
- APAC stocks were mostly subdued following the indecisive lead from Wall Street. DXY extended above 106.50 and 10yr UST futures were lacklustre, while there was a lack of fresh major catalysts.
- Fed's Musalem (2025 voter) noted recent information suggests that the risk of inflation moving higher has risen and risks to the job market remain unchanged or have fallen.
- Fed's Schmid (2025 voter) said "it remains to be seen" how much more the Fed will cut rates and where...
13 Nov 2024, 11:20 by Newsquawk Desk
- European bourses are mostly on a modestly firmer footing; US futures are incrementally lower ahead of US CPI.
- Dollar is flat, JPY marginally underperforms with USD/JPY briefly topping 155.00.
- USTs are incrementally firmer and ultimately in stasis ahead of US CPI; Gilts continued to underperform.
- Crude and precious metals gain but base metals remain subdued.
- Looking ahead, US CPI, EIA STEO, Speakers including Fed’s...
13 Nov 2024, 06:50 by Newsquawk Desk
- APAC stocks were mostly subdued following the negative lead from the US alongside higher yields.
- European equity futures are indicative of a lower cash open with the Euro Stoxx 50 future -0.4% after the cash market closed lower by 2.3% on Tuesday.
- DXY remains above the 106 mark, USD/JPY has just crossed above the 155 level, EUR/USD sits just above 1.06.
- Bunds are lower, crude is marginally firmer, BTC has pulled back from its record...
12 Nov 2024, 11:35 by Newsquawk Desk
- Equities are on the backfoot; the RTY underperforms, paring some of the Trump-induced strength in the prior session.
- Dollar continues to advance higher, GBP on the backfoot following mixed jobs data which saw an uptick in unemployment but wages remain sticky.
- Bonds are mixed, USTs are flat ahead of several Fed speakers whilst Bunds are bid after poor German ZEW figures.
- Crude holds an upward bias, XAU/base metals are pressured by the...
12 Nov 2024, 06:50 by Newsquawk Desk
- APAC stocks were ultimately mixed and failed to sustain the momentum from Wall St.
- European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.9% after the cash market closed higher by 1.1% on Monday.
- DXY remains on the front foot, EUR/USD is stuck on a 1.06 handle, USD/JPY briefly moved above the 154 mark.
- Bitcoin was choppy overnight after the prior day's surge which lifted prices above the USD 89k level...
11 Nov 2024, 10:50 by Newsquawk Desk
- Equities are entirely in the green, with a strong European morning thus far; the RTY outperforms.
- DXY is on a firmer footing with the Trump Trade still in action, JPY underperforms following the BoJ SOO which highlighted the lack of urgency to hike.
- Bonds are mixed, with Bunds firmer amid suggestions that Chancellor Scholz could bring forward a vote of no-confidence; Treasury cash trade is closed on account of US Veterans Day.
- Crude slips on...
11 Nov 2024, 06:45 by Newsquawk Desk
- APAC stocks began the week mostly subdued following the recent China fiscal stimulus disappointment and softer-than-expected Chinese inflation data.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 1.0% on Friday.
- German Chancellor Scholz said he wouldn't have a problem with a vote of confidence before Christmas.
- DXY is steady and just above the 105 mark,...
08 Nov 2024, 14:34 by Newsquawk Desk
- MON: US Holiday: Veterans Day. BoJ SOO (Oct), BoC SLOS; Norwegian CPI (Oct)
- TUE: Fed SLOOS, OPEC MOMR; German CPI (Final), ZEW (Nov), UK Unemployment/Weekly Earnings (Sep), US NFIB (Oct)
- WED: Riksbank Minutes (Nov), EIA STEO; Australian Wage Price Index (Q3), US CPI (Oct)
- THU: ECB Minutes (Oct), Banxico Policy Announcement, IEA OMR; Australian Unemployment Rate (Oct), Swedish CPIF (Oct), EZ GDP Flash Estimate (Q3), US Initial...
08 Nov 2024, 11:15 by Newsquawk Desk
- European bourses are entirely in the red, with sentiment hit after China’s NPC press conference disappointed markets; US futures remain flat.
- DXY is slightly firmer, with the JPY strong whilst the Antipodeans lag given the lack of fresh stimulus measures from China.
- Bonds are on a firmer footing, with modest outperformance in Gilts and as USTs await Fed speak from Bowman & Musalem.
- Crude oil, XAU and base metals are all on the backfoot,...
08 Nov 2024, 06:58 by Newsquawk Desk
- APAC stocks were ultimately mixed despite the early momentum following the fresh record levels on Wall St and a bout of rate cuts by major central banks, with gains capped as participants awaited a potential Chinese fiscal stimulus announcement.
- FOMC cut rates by 25bps to 4.50-4.75%, as expected, in a unanimous decision and removed language about having gained greater confidence in inflation moving sustainably towards the 2% target. Fed Chair Powell said during the Q&A that the election...
07 Nov 2024, 11:35 by Newsquawk Desk
- European bourses are modestly firmer across the board, with US futures also slightly higher, but ultimately taking a breather following the significant strength in the prior session.
- Dollar is giving back recent gains, Antipodeans outperform attempting to claw back post-election losses amid resilience in China.
- USTs are a touch firmer awaiting today’s FOMC meeting, Bunds are the clear underperformer after the German coalition...
07 Nov 2024, 06:55 by Newsquawk Desk
- APAC stocks held a mostly positive bias as the dust settled from the US election, participants also digested Chinese trade data.
- European equity futures are indicative of a firmer cash open with the Euro Stoxx 50 future +0.3% after the cash market closed lower by 1.4% on Wednesday.
- DXY has pulled back onto a 104 handle with antipodeans leading the fight back vs. the USD, USD/JPY sits on a 154 handle.
- German Chancellor Scholz dismissed...
06 Nov 2024, 11:30 by Newsquawk Desk
- US Presidential Election results are indicative of a Trump victory and Republicans taking the Senate; House is too close to call.
- Equities soar with clear outperformance in the RTY with Trump poised to win the US election; Novo Nordisk +7.1% benefits after posting strong Q3 Wegovy sales.
- Dollar flies higher, DXY topped 105.00, before paring back to a current 104.90; EUR & JPY the clear underperformers amongst the G10s.
- USTs pressured and...
06 Nov 2024, 07:00 by Newsquawk Desk
- US Presidential Election results are indicative of a Trump victory and Republicans taking the Senate; House is too close to call.
- US futures have ripped higher, while European futures have been hit given the potential EZ growth implications.
- DXY is currently up 1.5% and has seen its largest jump since March 2020; EUR, JPY and antipodeans are suffering.
- In the fixed income space, US yields are higher across the curve with the curve...
05 Nov 2024, 11:15 by Newsquawk Desk
- European bourses are mixed and trading tentatively on either side of the unchanged mark; US futures are incrementally firmer/flat.
- Dollar is slightly softer on US election day, Antipodeans benefit from constructive Chinese PMIs and Aussie was fairly unreactive to an unsurprising hold at the RBA.
- USTs are essentially unchanged, Bunds are pressured alongside Gilts; the latter was weighed on by its 2034 auction.
- Upward bias across industrials...
05 Nov 2024, 06:55 by Newsquawk Desk
- APAC stocks were ultimately mixed with most major indices in the green after further encouraging Chinese PMI data.
- The RBA decision provided little surprise and the SoMP included a reduction in GDP and household consumption forecasts.
- US equity futures were rangebound, DXY was flat, and UST futures traded sideways as all eyes now turn to the US Presidential Election.
- European equity futures are indicative of an uneventful cash open with the...
04 Nov 2024, 11:25 by Newsquawk Desk
- European bourses generally trade very modestly in positive territory, alongside slight gains in US futures.
- PredictIt odds shifted over the weekend in favour of a Harris election victory; NYT/Siena final polls showed the race was deadlocked in 6/7 battleground states.
- USD is on the backfoot as a shift in polling in the US election towards Harris has seen a scaling back of "Trump trades" across the board.
- USTs benefit from a scaling back of...
04 Nov 2024, 06:55 by Newsquawk Desk
- APAC stocks began the week mostly positive but with the gains capped ahead of this week's major risk events including the US Presidential Election.
- PredictIt odds shifted over the weekend in favour of a Harris election victory; NYT/Siena final polls showed the race was deadlocked in 6/7 battleground states.
- European equity futures are indicative of a steady cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 1.0% on...
01 Nov 2024, 11:48 by Newsquawk Desk
- MON: Japanese Holiday: Culture Day. Eurogroup Meeting, EZ Manufacturing PMI Final (Oct), Sentix (Nov), US Employment Trends (Oct), Factory Orders (Sep), Australian Composite/Services PMI Final (Oct)
- TUE: US Election. RBA Policy Announcement; BoC Minutes (Oct), RBNZ FSR; Chinese Caixin Services PMI Final (Oct), Swiss Unemployment (Oct), UK Composite/Services PMI Final (Oct), US Composite/Services PMI Final (Oct), ISM Services (Oct), New Zealand HLFS Unemployment (Q3), BoC...
01 Nov 2024, 10:50 by Newsquawk Desk
- European bourses are entirely in the green alongside modest strength in US futures following post-earning strength in Amazon/Intel & ultimately outmuscling losses in Apple.
- Dollar is firmer, CHF sinks after the region’s inflation data and JPY pares recent strength.
- Gilts continue to underperform with benchmarks generally softer pre-Payrolls.
- Crude is lower as risk-premium returns into the weekend though participants have NFP to navigate...
01 Nov 2024, 07:00 by Newsquawk Desk
- APAC action mixed as Amazon and Apple diverge, China outperforms on further encouraging PMI data
- DXY little changed around 104.00, USD/JPY found support at 152.00
- Fixed benchmarks contained after recent marked Gilt-led pressure, awaiting US data
- Crude underpinned on reports that Iran is preparing a major retaliatory strike from Iraq within days.
- Looking ahead, highlights include US NFP, ISM Manufacturing PMI,...
31 Oct 2024, 11:10 by Newsquawk Desk
- European bourses & US futures are entirely in the red; Tech lags stateside given META & MSFT while European banks slip
- JPY leads post-BoJ with USD lower into PCE & weekly jobs, EUR unreactive to HICP while Cable nears 1.30
- Gilts remains for sale though the morning's DMO auction went well, EGBs and USTs soft in tandem with yields bid and curves flattening
- Crude ultimately firmer with two-way geopolitical updates factoring,...
31 Oct 2024, 07:04 by Newsquawk Desk
- APAC stocks were mostly subdued following the negative handover from the US; participants also digested mixed Chinese PMIs.
- BoJ kept rates unchanged as expected and refrained from any fresh policy clues.
- European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.5% after the cash market closed lower by 1.3% on Wednesday.
- US equity futures (ES -0.5%, NQ -0.7%) were hampered by after-market earnings from...
30 Oct 2024, 11:14 by Newsquawk Desk
- European bourses opened in negative territory and continued to trundle lower as the morning progressed, Tech lags post-AMD
- Stateside, futures are firmer but only modestly so with Alphabet supporting as AI bolstered cloud performance
- DXY briefly dipped below the 104.00 mark, EUR aided by hawkish-data while GBP awaits the budget
- USTs continue to gain after Tuesday's 7yr into Refunding, Bunds weighed on by...
30 Oct 2024, 06:55 by Newsquawk Desk
- APAC stocks were mostly lower after the mixed performance stateside and as participants braced for this week's key risk events.
- Alphabet Inc (GOOGL) Q3 2024 (USD): Adj. EPS 2.12 (exp. 1.84), Revenue 88.27bln (exp. 86.31bln). Co. shares were higher by 5.9% after-hours.
- European equity futures are indicative of a weaker cash open with the Euro Stoxx 50 future -0.4% after the cash market closed lower by 0.4% on Tuesday.
- DXY is steady on a 104...