• European bourses are mixed as the initial positive bias faded amid downward PMI revisions and increasing geopolitical tensions
  • US futures similarly contained and less reactive to the above factors pre-FOMC
  • DXY under modest pressure to the benefit of G10 peers with antipodeans and JPY outpacing, EGBs/USTs contained with a slight negative bias
  • Crude benchmarks have given up their USD and China induced APAC upside amid downbeat commentary from...
  • APAC stocks were mixed with the region cautious after the lacklustre handover from the US ahead of the FOMC
  • DXY slightly softened after the choppy performance yesterday, EUR/USD traded marginally higher, USD/JPY retreated overnight
  • North Korea reportedly fired at least 10 missiles from the east and west coasts; South Korea launched air-to-ground missiles which were fired towards the north of the maritime border
  • China locked down the area...
  • European bourses are firmer across the board with commodity stocks leading the way on the overnight China COVID rumours.
  • Stateside, futures are similarly supported though magnitudes a touch more contained ES +0.8%; NQ outperforms as global yields pullback.
  • Unconfirmed reports that a Chinese committee is being formed to assess how to exit COVID Zero; however, this was subject to push back
  • USD pressured as risk rebounds and yields retreat,...
  • APAC stocks traded firmer as risk appetite improved following a decline on Wall Street; ES +0.6%
  • DXY softened amid the improved risk appetite and as yields took a breather from recent gains, G10s were firmer across the board
  • AUD/USD pared some of its gains after the RBA stuck to a 25bps hike and refrained from any major hawkish surprises
  • China’s Zhengzhou region said that the city will lift the temporary control for COVID-19 low-risk regions...
  • European bourses began the week modestly firmer, though this proved shortlived and the complex has pivoted to being mixed overall in-fitting with the APAC handover
  • Stateside, futures are under more pressure, ES -0.5% as yields pickup a touch, NQ -0.7% lags slightly as such
  • USD is bolstered by the general risk tone, Yuan pressure post-PMIs and the latest piece from WSJ's Timiraos; DXY to a 111.20+ peak
  • Core fixed benchmarks pressured with...
  • APAC stocks traded mostly positively following last Friday’s rally on Wall St although gains were capped by Chinese PMIs and COVID woes ahead of FOMC and US NFP this week
  • DXY was rangebound below 111.00, USD/JPY advanced at the Tokyo open and briefly reclaimed the 148.00 handle, Antipodeans were kept afloat amid the mostly positive risk tone
  • Russia announced it is suspending the UN-brokered grain agreement with Ukraine; wheat futures rallied over 5% in the early...
  • MON: Chinese Official PMI (Oct), German Retail Sales (Sep), EZ Flash CPI (Oct) and Flash GDP (Q3), US Chicago PMI (Oct).
  • TUE: RBA Policy Announcement, RBNZ Financial Stability Report; Japanese JibunBK Manufacturing PMI Final (Oct), Chinese Caixin Manufacturing PMI Final (Oct), UK & US Manufacturing PMI Final (Oct), US ISM Manufacturing PMI (Oct), JOLTS (Sep), New Zealand Unemployment (Q3).
  • WED: FOMC Policy Announcement, BoJ Minutes (Sep); German...
  • European bourses are pressured across the board, Euro Stoxx 50 -0.9%, deriving direction from downbeat APAC and US after-market trade.
  • Stateside, the NQ -1.3% is the clear underperformer amid pressure from after-market earnings; AMZN -13%
  • DXY extends recovery gains to probe 111.000 and this time thanks in large part to the Yen; EUR cushioned by inflation prints
  • EGBs are under broad pressure as ECB speakers come out in full hawkish force...
  • APAC stocks traded mostly lower but off worst levels following a mixed lead from the US
  • Amazon shares initially slumped around 20% following disappointing earnings, Apple earnings were ultimately better-received
  • ECB rate hike was not unanimous, three officials wanted only a 50bp move, and the ECB did not mean to imply slower hiking with the "progress" remark, according to Bloomberg sources.
  • BoJ maintained its policy settings and reiterated...
  • European bourses are under modest pressure, Euro Stoxx 50 -0.5%, with the region digesting earnings and largely just awaiting the ECB
  • FTSE 100 is the relative outperformer post-Shell while US futures are mixed & META is hampered after earnings, -20% pre-market
  • DXY tops 110.00 vs bottom near 109.500 with EUR and GBP both fading from initial peaks in turn
  • Core debt has slipped from a brief mid-week recovery with yields elevated as such,...
  • APAC stocks traded mixed following a similar lead from Wall Street and amid a lack of fresh fundamental drivers overnight
  • DXY edged high, USD/JPY tested 146 to the downside, and the Yuan pared back some recent gains
  • UK PM Sunak is reconsidering tax rises as an improving economic picture means the PM is examining whether some of the sweeping measures can be watered down, according to The Telegraph
  • European equity futures saw modest losses...
  • European bourses are mixed and yet to make much ground either side of the unchanged mark, amid numerous European updates and the US tech headwind.
  • Stateside, the NQ -1.7% is weighed on by GOOGL and MSFT post-earnings and ahead of further large-cap updates including META after-hours.
  • DXY is under pressure and back below the 110.00 mark as Cable reclaims 1.16 and EUR/USD finds a foothold above parity.
  • Commodities are buoyed across the board...
  • APAC stocks traded higher across the board following the positive lead from Wall Street; China outperformed
  • US equity futures were mixed overnight with the NQ underperforming after Microsoft and Alphabet both fell 6.7% after-market following earnings
  • Major Chinese state-owned banks sold USD in both onshore and offshore markets in late trade on Tuesday to prop up the weakening yuan, according to Reuters sources
  • UK PM Sunak is reportedly...
  • European bourses are on the backfoot despite a firmer open as participants digest numerous heavyweight earnings and the latest Ifo ahead of key US prints
  • US futures in-fitting directionally ahead of numerous key releases, including Alphabet & Microsoft
  • DXY remains in proximity to 112.00, though off best, as Cable reclaims 1.13 while EUR shrugs off the Ifo
  • Yuan saw pronounced action amid the weakest fix since 2008 and the regulator...
  • APAC stocks eventually traded mostly higher following a firm lead from Wall Street; Chinese stocks experienced a choppy session
  • DXY traded under 112.00, USD/JPY was relatively stable, CNH weakened on the PBoC fixing
  • South Korean President Yoon said North Korea has completed preparations for a seventh nuclear test
  • Sky News sources suggest Jeremy Hunt is to remain UK Chancellor, while Penny Mordaunt wants the Foreign Secretary...
  • Equities are firmer in Europe and back to flat for US futures, as mixed APAC trade and PMI pressure eases a touch
  • USD has regrouped from Friday's dovish-downside though GBP outperforms while JPY has eased from best following pronounced APAC action
  • Bonds back off after early EU buying frenzy; with Gilts leading the way as the prospect of Sunak becoming the UK PM increases significantly
  • Commodities clipped, but off worst, as the USD regains...
  • APAC stocks traded mixed, Hong Kong underperformed and its tech stocks slumped
  • Chinese President Xi secured a third term as CCP leader as expected; the delayed Chinese economic data was released
  • In FX, DXY reclaimed a 112.00 handle, Japan is touted to have intervened in FX markets on Monday, GBP outperformed
  • UK former PM Boris Johnson has pulled out of the Conservative Party leadership contest
  • North Korea and South...
  • MON: EZ/UK/US Flash PMIs (Oct)
  • TUE: NBH Announcement, German Ifo Survey (Oct), US CaseShiller (Oct)
  • WED: BoC Announcement, BCB Announcement, Australian CPI (Q3), US Adv Goods Trade Balance
  • THU: ECB Announcement, South Korean GDP (Q3), German GfK Consumer Sentiment (Oct), German Flash CPI (Oct), US GDP Adv (Q3) and PCE (Q3)
  • FRI: CBR Announcement, BoJ Announcement, Japanese Jobs Report (Q3), Australian PPI...
  • Equities began the session on the backfoot and have extended to the downside, with the NQ lagging stateside post-SNAP.
  • SNAP -25% in the pre-market; TWTR -8%, with the US reportedly to review Musk's deal
  • USD continues to climb with the index above 113.50 at best while USD/JPY tests 151.00 and Cable near 1.11
  • Debt has extended on initial downbeat performance amid Germany approving the debt brakes suspension; UK 10yr back above...
  • APAC stocks traded cautiously with the region lacking firm direction following the weak lead from Wall Street (S&P -0.8%).
  • European equity futures are indicative of a lower open with the Euro Stoxx 50 future -1.0% after the cash market closed with gains of 0.6% yesterday.
  • DXY reclaimed 113, cable is back below 1.12, USD/JPY remains on a 150 handle, NZD lags.
  • US government is reportedly mulling a security review regarding Elon Musk's deal...
  • European cash bourses trade mixed with the breadth of the market narrow, US futures softer though off lows and varied
  • TSLA -5.0% in the pre-market post-earnings; in Europe, Ericsson and Nokia hit on margins
  • Pound pressured alongside PM Truss and after BoE's Broadbent, USD/JPY through 150.00 while DXY slips from 113.00
  • Debt remains depressed though notably off worst levels after dovish remarks from BoE's Broadbent, yields bid but have...
  • APAC stocks were pressured following the weak handover from Wall Street (S&P 500 -0.7%). Tesla was lower by 6.3% post-earnings after-hours. 
  • China is reportedly mulling cutting inbound quarantine to 7 days from 10 days, according to Bloomberg.
  • European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.3% after the cash market closed with gains of 0.2% yesterday.
  • DXY has pulled back below 113,...
  • Equities in Europe are mostly lower despite initial positive performance; US futures bid, but shy of best.
  • European earnings include ASML & Nestle; NFLX +13% in pre-market following their after-hours update
  • Franc flounders as Dollar rebounds alongside bear-steepening in US Treasuries, USD/CHF probes parity as DXY tops 112.500.
  • Gilts dented post-CPI which topped 10%, though clawed back losses to mid-97.00; broader complex pressured,...
  • APAC stocks were mixed following the choppy performance stateside where major indices wobbled on news that Apple cut iPhone 14 Plus production.
  • US futures were supported after Netflix beat on top and bottom lines and more than doubled expected quarterly net subscriber additions.
  • European equity futures are indicative of a higher open with the Euro Stoxx 50 future +0.8% after the cash market closed with gains of 0.6% yesterday.
  • DXY...
  • Equity bourses in Europe trade with gains across the board but are off best levels; US futures are faring better
  • NZD leads after strong CPI while GBP lags as the BoE pushes back on QT delay reports, DXY firmer but off best
  • Yen pares some losses from under 149.00 against the Dollar amidst some unsubstantiated talk of intervention
  • Overall fixed complex is pressured, with Gilts lagging though Bunds are in close proximity and below 136.00 post...