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  • Asia-Pac bourses traded choppy after the mild positive bias from Wall Street wore thin as month-end looms
  • In FX, the DXY consolidated at 90.00, EUR/USD failed to reclaim 1.2200, whilst USD/CNH and USD/CNY remained below 6.4000
  • 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 President Biden's administration and other Democrats close to the...
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  • European bourses are marginally pressured while US futures tread water in quiet newsflow ahead of month-end; ES +0.2%
  • ECB's Panetta says that current conditions do not justify reducing the pace of purchases, and a discussion about phasing out PEPP is premature
  • Antipodeans remain the clear outperformers post-RBNZ while the USD has remained bid after EUR slipped on Panetta and JPY errs lower
  • RBNZ stood pat on the OCR and LSAP as expected, but...
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  • Asia-Pac stocks were mostly positive in what was a modest improvement from the subdued performance on Wall Street
  • Most major US indices posted marginal losses, although the Nasdaq 100 bucked the trend amid resilience in tech
  • Fed Vice Chair Clarida agreed with the FOMC minutes that there will be a time at upcoming meetings where the Fed could start to discuss tapering
  • The DXY remains firmly below 90.00, EUR/USD trades above 1.2250 and GBP/USD...
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  • European bourses are contained but experiencing some slight divergence and have waned off initial best levels though the NQ remains the narrow outperformer
  • US Republican Senator Wicker said the GOP could support a total USD 1tln infrastructure package
  • Reports note speculation of intervention by China state banks in USD/CNY and USD/CNH around the 6.4000 level
  • DXY remains depressed and sub last week's trough to the benefit of peers across the...
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  • Asia-Pac stocks traded higher after taking the impetus from the encouraging performance in the US
  • Major US indices gained, led by outperformance in tech amid a decline in yields and alongside a rebound in crypto
  • The DXY remained subdued beneath 90.00, EUR/USD extended on advances above 1.22 and GBP/USD above 1.4150
  • EU leaders have agreed on a set of sanctions to be imposed on Belarus
  • US Republican Senator Wicker said...
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  • European bourses are modestly firmer though there are a number of closures given Whit Monday while US futures outperform modestly in quiet trade
  • The USD has been downbeat for much of the morning to the benefit of EUR in particular though the DXY did stage a short-lived resurgence
  • China's NDRC reportedly held discussions with major commodity firms and pledged to have zero tolerance on commodity futures violations
  • US Secretary of State Blinken...
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  • MON: Canadian Holiday (Victoria Day); EZ Holiday (Whit Monday); US-China meeting (TBC).
  • TUE: NBH Policy Decision; Indonesian Rate Decision; Special European Council Meeting; German Ifo Survey (May) and GDP Detailed (Q1); New Zealand Trade Balance (Apr).
  • WED: RBNZ Policy Decision; Riksbank Financial Stability Report (H1-2021).
  • THU: BoK Policy Decision; German GfK Consumer Sentiment (Jun); US GDP 2nd (Q1) and Durable Goods...
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  • Asia-Pac equities began the week choppy following on from last Friday’s mixed performance on Wall Street, light weekend newsflow and heading into month-end
  • China's NDRC reportedly held discussions with major commodity firms and pledged to have zero tolerance on commodity futures violations
  • DXY trades sub-90.0, EUR/USD and GBP/USD sit on 1.21 and 1.41 handles respectively, USD/JPY was capped by 109.00
  • US Secretary of State Blinken stated...
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  • Major bourses in Europe are mostly higher but off best levels; US equity futures trade sideways
  • The DXY has extends losses below 90.00, EUR/USD maintains 1.22 and Cable reclaimed 1.42 after PMIs
  • US Republicans and Democrats have privately admitted there hasn’t been much progress so far on the infrastructure bill
  • Israel and Hamas have agreed to a cease-fire on the Gaza Strip, commencing today
  • Germany and France have...
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  • Asian equity markets were mixed after failing to sustain the early momentum from the constructive mood on Wall Street
  • All major US indices finished higher amid a tech-led rebound. EU equity futures head into the open slightly firmer
  • The DXY remains subdued beneath 90.00, EUR/USD and GBP/USD maintain 1.22 and 1.41 status respectively
  • Israel and Hamas have agreed to a cease-fire on the Gaza Strip, commencing today
  • US...
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  • European bourses trade mixed as the earlier mild optimism faded; US equity futures have been erring lower
  • The White House is planning to submit its rebuttal to the Senate GOP infrastructure offer by Friday; Republicans are concerned that a deal may not be possible
  • Iranian President Rouhani said main agreement has been reached in Vienna including the removal of major sanctions; other issues are still being discussed
  • In FX, the DXY has been...
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  • Asian equity markets traded mixed with the region cautious following the mostly negative lead from the US
  • April FOMC Minutes gave a nod to potential taper discussions in the approaching meetings
  • In FX, the DXY is relatively steady above 90.00, EUR/USD remains sub-1.22 and GBP/USD sits on a 1.41 handle
  • WTI crude futures have stabilised around USD 63.50bbl, spot gold prices remain elevated
  • Looking ahead, highlights...
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  • Stocks in Europe have continued drifting lower; US equity futures are also lower across the board with the NQ lagging
  • German bund yield topped -10bps in early trade whilst US 10yr cash yield remains above 1.65%
  • There has been progress in JCPOA talks but the sides have not yet achieved a breakthrough, according to European sources
  • In FX, the DXY rebounded but remains sub-90.00, EUR/USD holds on to 1.22 status and GBP/USD hovers around...
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  • Asian equity markets were mostly negative, US equity futures extended on the losses seen during the prior session
  • Russia's envoy to JCPOA talks said important news is likely to be released by this Wednesday, although he later backtracked
  • In FX, the DXY remains sub-90.00, EUR/USD holds on to 1.22 status and GBP/USD met resistance at 1.42
  • Biden administration was said to be encouraged by the bipartisan infrastructure...
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  • Major bourses in Europe have drifted off best levels; US equity futures traded sideways with the NQ narrowly outperforming
  • In FX, the DXY lost its 90.00 handle whilst EUR/USD and GBP/USD topped 1.2200 and 1.4200 respectively and USD/JPY dipped below 109.00
  • Bent July futures rose above USD 70/bbl for the first time since March while WTI July tested USD 67/bbl to the upside
  • US Senator Capito said the Republican infrastructure proposal is on...
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  • Asian equities traded mostly positive as the region shrugged off the negative lead from Wall Street
  • In FX, the DXY remains subdued, EUR/USD extended gains above 1.2150 and GBP/USD trades at its best level in over two months
  • WTI crude futures eked marginal gains to trade around the USD 66.50/bbl level
  • US Senator Capito said the Republican infrastructure proposal is on track to be sent to President Biden on...
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  • Major bourses in Europe trade with little conviction whilst US equity futures remain contained with a downside bias
  • Chinese industrial production printed inline with estimates and retail sales disappointed but still showed respectable growth
  • China will extend tariff exemption for some US imported products from May 19th, according to the Finance Ministry
  • In FX markets, DXY remains soft under Friday's lows; EUR/USD reclaimed 1.2150, GBP/USD...
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  • MON: Eurogroup Meeting; Chinese Retail Sales and Industrial Production (Apr)
  • TUE: RBA Minutes (April); EU Economic & Financial Affairs Council; Japanese GDP (Q1); UK Jobs Report (Mar); EZ Employment (Q1) and GDP (Q1)
  • WED: FOMC Minutes (April); UK Inflation (Apr); EZ CPI (Apr) Canadian CPI (Apr); Hong Kong Holiday
  • THU: PBoC LPR, SARB Rate Decision, BoC Financial System Review presser; EU Foreign Affairs Council Meeting (Trade);...
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  • Asian equities traded somewhat mixed and only partially benefitted from last Friday’s rebound on Wall St.
  • Chinese industrial production printed inline with estimates and retail sales disappointed but still showed respectable growth
  • In FX markets, the DXY heads into the European open firmer, EUR/USD pulled back from 1.2150 and GBP/USD sits on a 1.40 handle
  • WTI crude futures were uneventful overnight, whilst gold prices remained firm above USD...
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  • European bourses are firmer following the positive APAC performance with US futures following suit ahead of data, ES +0.6%
  • USTs have been climbing all morning recovering recently lost ground with yields suppressed and the USD downbeat as such to the modest benefit of peers
  • President Biden told Republicans that he wants to see real progress on a possible bipartisan deal by Memorial Day
  • Israeli PM Netanyahu is reportedly showing signs of...
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  • Asia-Pac stocks were mostly higher as the region took impetus from the firm performance in the US
  • Major US indices recovered from the recent inflation-triggered sell-off and snapped a 3-day losing streak
  • In FX, the DXY traded within a narrow range overnight, EUR/USD remains sub-1.21 and GBP/USD sits on a 1.40 handle
  • President Biden told Republicans that he wants to see real progress on a possible bipartisan deal by Memorial...
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  • European bourses are pressured following overnight losses though US futures are comparatively less pressured; Euro Stoxx 50 -1.5%, ES -0.3%
  • DXY remains bid at fresh session highs but still sub-91.00 with peers modestly pressured overall as GBP and Antipodeans lag
  • USTs have been oscillating the U/C mark for much of the morning though the 10yr yield retains 1.70% with EGB action more pronounced and yields extending to key levels
  • Colonial...
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  • Asian equity markets were pressured following on from the losses in the US post-CPI
  • The S&P 500 and DJIA posted their worst 3-day performance in over 6 months
  • USD held on to most of yesterday's gains, EUR/USD is subdued beneath 1.21 and GBP/USD remains on a 1.40 handle
  • Colonial Pipeline has announced that it is to restart operations; could take several days for operations to return to normal
  • The Bipartisan Policy...
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  • European equities are firmer and earnings focused but US futures are softer and tentative overall going into US CPI
  • USD is modestly firmer but contained with peers only marginally weaker ex-antipodeans and GBP unreactive to the latest EU-UK updates
  • Core debt has consolidated somewhat going into CPI and Fed speak after which the 10yr outing will draw attention particularly if concession begins exerting influence once more
  • Top Republican...
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  • Asian equity markets were subdued following the lacklustre performance in the US where the DJIA suffered its worst day in over two months
  • Losses in the Nasdaq were only marginal after the tech sector spent most of the session nursing its recent underperformance
  • In FX, the DXY is firmer, EUR/USD retreated further below 1.2150 and GBP/USD maintains 1.41 status
  • WTI crude futures were flat after finding support at the USD 65.00/bbl level. Focus...
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