10 Sep 2021, 11:23 by Newsquawk Desk
- European equities (Stoxx 600 +0.3%) trade on a marginally firmer footing with the Stoxx 600 attempting to recoup some of the week's losses
- US equity futures are modestly firmer across the board with mild outperformance in the RTY
- US President Biden and Chinese President Xi had a broad and strategic discussion
- Senate Democrats are floating plans to impose taxes on share buybacks and tightening rules around business partnerships, according to...
10 Sep 2021, 06:55 by Newsquawk Desk
- Asian stocks approached the weekend with a brightened mood as the region nursed recent losses
- Gains overnight were in contrast to a soft US close with the S&P 500 down just shy of 1% for the week
- US President Biden and Chinese President Xi spoke for the first time in seven months
- The White House stated that the leaders "discussed the responsibility of both nations to ensure competition does not veer into...
09 Sep 2021, 11:50 by Newsquawk Desk
- Eurozone bourses have rebounded off worst levels but remain softer overall; US equity futures have recouped most of the earlier losses
- Fed's Bostic noted that recent data and the resurgence of COVID call for more time before a decision on reducing stimulus for the economy
- Chinese inflation data showed softer than expected consumer prices but firmer factory gate prices
- China is to allow Evergrande (3333 HK) to reset debt terms to ease its...
09 Sep 2021, 06:55 by Newsquawk Desk
- Asia-Pac stock markets were mostly negative as the downbeat mood rolled over from the US and Europe
- Chinese inflation data showed softer than expected consumer prices but firmer factory gate prices
- BoE Governor Bailey stated that the MPC was split as to whether minimum necessary conditions were met to raise interest rates
- In FX, the DXY heads into the European session with modest gains, EUR/USD holds on to 1.18 ahead of...
08 Sep 2021, 11:53 by Newsquawk Desk
- Bourses in Europe saw losses intensify shortly after the cash open; US equity futures followed suit but have since regained composure
- In FX, the DXY sits further above 92.50, EUR/USD and GBP/USD trade on 1.18 and 1.37 handles respectively
- Fed's Bullard (2022 voter) said the Fed should proceed with tapering despite the weak US jobs data
- US Democrat Senator Manchin privately warned he would only support as little as USD 1.0tln of Biden's...
08 Sep 2021, 06:55 by Newsquawk Desk
- Asia-Pac equity markets followed suit from the lacklustre performance in the US
- Sentiment stateside was subdued on return from Labor Day with weakness seen in cyclicals
- In FX, the DXY sits above 92.50, EUR/USD and GBP/USD trade on 1.18 and 1.37 handles respectively
- US Democrat Senator Manchin privately warned he would only support as little as USD 1.0tln of Biden's spending plans
- Looking ahead, highlights include EIA...
07 Sep 2021, 11:46 by Newsquawk Desk
- Bourses in Europe have retained the uninspiring price action seen at the cash open (Euro Stoxx 50 -0.1%; Stoxx 600 -0.1%)
- In FX, DXY remains on the front foot to the detriment of G10 peers; USD/JPY eyes 110.00 to the upside while GBP/USD probes 1.3800
- Crude prices have extended their declines as US player enter the fray from the long weekend; WTI futures did not settle yesterday
- The RBA announced it is to proceed with tapering whilst also...
07 Sep 2021, 06:55 by Newsquawk Desk
- Asia-Pac stocks traded cautiously as the region struggled for direction post-US market closures
- The RBA announced it is to proceed with tapering whilst also extending the period to at least February from mid-November
- Chinese trade data topped estimates in USD terms with a 25.6% Y/Y jump in exports
- The Nikkei 225 briefly reclaimed 30k to the upside amid the upcoming leadership transition
- The DXY is contained in the...
06 Sep 2021, 09:00 by Newsquawk Desk
- MON: EZ Sentix Index (Sep), US Labour Day, US Unemployment Benefits end
- TUE: RBA Policy Decision; German ZEW Survey (Sep); EZ GDP R (Q2); Chinese Trade Balance (Aug)
- WED: BoC Policy Decision; Japanese GDP R (Q2); EIA STEO
- THU: ECB Policy Decision; Chinese Inflation (Aug); German Trade Balance (Jul)
- FRI: CBR Policy Decision; German CPI Final (Aug); UK GDP Estimate (Jul); US PPI (Aug); Canadian Labour Market...
06 Sep 2021, 06:55 by Newsquawk Desk
- Asia-Pac stocks were mostly positive but with gains somewhat limited post-NFP
- Nikkei 225 (+1.8%) continued the outperformance that was spurred by the approaching leadership change in Japan
- US equity futures were contained amid the Labor Day holiday
- In FX, the DXY has attempted to claw back recent losses. EUR/USD has been unable to hold onto 1.19 status
- UK PM Johnson is facing a tough battle to persuade the...
03 Sep 2021, 11:53 by Newsquawk Desk
- European bourses are contained but with a negative bias while US futures have a slight positive bias, ES +0.2%
- Both Caixin Services and Composite PMIs fell into contractionary territory
- FX space is very contained with antipodeans modestly outperforming once again while USD/JPY rose above 110.00 briefly amid political updates
- Japanese PM Suga will not run in the LDP leadership race and is set to step down as...
03 Sep 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses showed a positive bias after further disappointing PMIs from China only partially offset the tailwinds from the US
- Yesterday, the S&P 500 and Nasdaq Comp registered fresh all-time highs
- Both Caixin Services and Composite PMIs fell into contractionary territory
- Japanese PM Suga will not run in the LDP leadership race and is set to step down as PM
- In FX, the DXY remains subdued, Antipodeans...
02 Sep 2021, 11:40 by Newsquawk Desk
- European bourses/US futures are modestly firmer in quiet and rangebound trade before today's US data; ES +0.2%
- FX sees the DXY lower but still above Wednesday's trough with peers, ex-CHF/JPY, firmer
- WTI & Brent have recovered from yesterday's downside and the benchmarks are modestly firmer post-OPEC
- Looking ahead, highlights include US Challenger Layoffs, IJC, Canadian Trade Balance, Factory Orders, Fed's...
02 Sep 2021, 06:54 by Newsquawk Desk
- Asian equity markets took their cues from a similar indecisive performance stateside
- Price action in the FX space is contained as DXY oscillates around the 92.50 mark
- Post-tropical storm Ida continued to cause havoc stateside with NYC declaring a state of emergency
- WTI crude futures are slightly lower after OPEC+ agreed to stick to the existing policy of gradual oil output hikes
- Looking ahead, highlights include...
01 Sep 2021, 11:42 by Newsquawk Desk
- European bourses/US futures are firmer but off highs after a cautious APAC handover following Chinese PMIs and before Tier 1 US data; ES +0.3%
- Chinese Caixin PMI slipped into contractionary territory for the first time since April last year
- The morning's OPEC related sources indicate that they will continue with current policy i.e. +400k BPD
- DXY is downbeat with peers mixed as USD/JPY rises with UST yields, though these are off best...
01 Sep 2021, 06:54 by Newsquawk Desk
- Asian stocks traded cautiously after further disappointing Chinese PMI data and a soft handover from the US
- That said, losses on Wall Street were marginal and all major indices registered a seventh consecutive monthly gain for August
- Chinese Caixin PMI slipped into contractionary territory for the first time since April last year
- In FX, the DXY has pared some of its recent losses, EUR/USD has lost 1.18 status, havens...
31 Aug 2021, 11:47 by Newsquawk Desk
- European bourses are firmer though are off post-EZ CPI highs, Euro Stoxx 50 +0.4%; US futures have pared overnight gains, ES +0.1%
- Chinese Manufacturing PMI missed estimates, while Non-Manufacturing and Composite PMI both showed a contraction for the first time in 16 months
- The DXY remains downbeat with peers bid across the board but NZD the main beneficiary taking impetus from AUD/NZD action
- Core debt is depressed with pressure exacerbated...
31 Aug 2021, 06:54 by Newsquawk Desk
- The S&P 500 and Nasdaq extended on record highs led by growth and tech
- Asian equity markets traded cautiously as participants digested disappointing Chinese PMI data
- Chinese Manufacturing PMI missed estimates, while Non-Manufacturing and Composite PMI both showed a contraction for the first time in 16 months
- The DXY remains subdued just above 92.50, EUR/USD has traded on either side of 1.18, NZD outperforms after reclaiming...
30 Aug 2021, 11:33 by Newsquawk Desk
- European equity bourses and US futures are modestly firmer but near unchanged levels in minimal newsflow; ES +0.1%, RTY +0.3%
- USD is bid but the index remains sub-93.00 as antipodeans and CHF take the brunt of the downside while core debt is marginally firmer
- China has unveiled new restrictions on young people playing online games, Xinhua; separately, China is said to ask brokers to increase supervision of margin trading
- Oil producers in the...
30 Aug 2021, 09:00 by Newsquawk Desk
- MON: UK Holiday (Summer Bank Holiday); German Flash CPI (Aug); EZ Sentiment Survey (Aug)
- TUE: OPEC+ JTC Meeting; Chinese Official PMIs (Aug); EZ Flash CPI (Aug); Canadian GDP (Q2)
- WED: OPEC+ Meetings, Australian GDP (Q2); Chinese Caixin Manufacturing Final PMI (Aug); German Retail Sales (Jul); EZ, UK, US Manufacturing PMI Final (Aug); US ISM Manufacturing PMI (Aug)
- THU: EZ PPI (Aug); US Challenger Layoffs (Aug); US Durable Goods R...
30 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks were mostly positive with the region mildly taking impetus from last Friday's gains on Wall St
- The S&P 500 and Nasdaq extended on record highs post-Powell
- In FX, the DXY remains softer and sub-93.00, EUR/USD has reclaimed 1.18 status
- The SPD has continued to make further gains in the latest polling data with Scholz coming out on top in the latest debate
- Oil producers in the Gulf of Mexico shut in...
27 Aug 2021, 11:42 by Newsquawk Desk
- European bourses are little changed while US futures have a marginal upward bias in limited newsflow pre-Powell
- Fed speak via just Bostic thus far, who stuck to his familiar 'hawkish' language around a taper
- The DXY straddles 93.00 and is marginally softer with peers contained; core debt is slightly softer but well within proximity to the U/C mark
- Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard...
27 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded mixed although have shown an improvement compared to the losses in global counterparts
- Losses in the US came in the context of recent hawkish Fed rhetoric ahead of Powell and events in Afghanistan
- The DXY straddled 93.00 amid a non-committal tone and contained price action in the FX space
- Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard could be appointed as...
26 Aug 2021, 11:48 by Newsquawk Desk
- European bourses are softer across the board with US futures also pressured albeit to a lesser extent, ES -0.1%
- DXY is firmer but capped by 93.00 with peers subdued across the board while debt continues to pullback but has stabilised slightly most recently
- Fresh newsflow has been sparse and largely on geopols/COVID-19 boosters and as such not moving the macro dial
- The BoK became the first major Asian central bank to hike rates since the...
26 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded cautiously amid a deluge of earnings releases and as markets await Jackson Hole
- US equity futures trickled lower overnight following another consecutive day of record highs on Wall St
- The BoK became the first major Asian central bank to hike rates since the pandemic began
- In FX, the DXY remains lacklustre beneath 93.00, EUR/USD and GBP/USD remain steady on 1.17 and 1.37 handles...