08 Oct 2021, 11:43 by Newsquawk Desk
- Marginally positive European equity open fizzled out as we await fresh catalysts pre-NFP but oil remains upbeat
- DXY remains above 94.00 but has come under modest pressure though safe-havens continue to lag and core debt remains downbeat
- Mainland China was bolstered on its return from Golden week; China's Caixin Services PMI topped forecasts
- US Senate voted 50-48 to pass the debt limit bill which sends it to the House, while House Majority...
08 Oct 2021, 06:55 by Newsquawk Desk
- APAC bourses were mostly higher on the broader upbeat-tone; Mainland China was bolstered on its return from Golden week
- China's Caixin Services PMI beat expectations and the Composite measure climbed into expansionary territory
- In FX, the DXY remains above 94.00 and safe-havens lag, while USTs are modestly subdued heading into NFP
- US National Security Adviser Sullivan said talks with China's Yang Jiechi were productive and noted there were...
07 Oct 2021, 11:57 by Newsquawk Desk
- Equities and US equity futures remain buoyed and in relatively contained ranges as we await tomorrow's NFP and the return of China; ES +0.7%
- Holders of Evergrande-linked Jumbo Fortune bonds are reportedly yet to receive payment, holders next step would be to request payment from Evergrande
- DXY remains above 94.00 but has given up gains with peers deriving some marginal benefit
- Core debt has been dictated by Central Bank speak with BoE...
07 Oct 2021, 06:52 by Newsquawk Desk
- Asia-Pac stocks traded in the green; Hang Seng outperformed while Mainland China observed the last day of Golden Week
- In FX, the DXY was steady above 94.00, EUR/USD hovered around 1.1550, Antipodeans outperformed
- US and China have an agreement in principle for a Biden-Xi virtual meeting before the end of the year
- US Senate Minority Leader McConnell offered a short-term debt ceiling extension to December
- ECB is to...
06 Oct 2021, 11:35 by Newsquawk Desk
- Equities are pressured with sentiment firmly risk-off after the positive US handover fizzled out in APAC hours; ES -1.3%, Euro Stoxx 50 -2.2%
- In FX, the DXY has continued to make ground with the YTD peak of 93.504 in-sight, while debt is subdued but off lows as some safe-haven premium emerges
- Global Times writes, citing analysts, that a possible summit between President's Biden and Xi may be on the Zurich meeting agenda
- US President Biden...
06 Oct 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded mostly lower after failing to sustain the initial momentum from Wall St
- Major US indices closed higher as buyers returned to tech and the higher yield environment provided support for financials
- The White House commented that President Biden has confidence in Fed Chair Powell "at this time"
- In FX, the DXY marginally extended above 94.00, EUR/USD sits sub-1.16, NZD lags after RBNZ support proved to be...
05 Oct 2021, 11:42 by Newsquawk Desk
- European bourses are firmer shrugging off the APAC handover while US futures post gains of a smaller magnitude; ES +0.3%
- President Biden reportedly stated to progressives that the spending package needs to be between USD 1.9tln-2.2tln
- In FX, the DXY remains near 94.00 with havens lagging as sentiment recovers while core debt diverges but remains contained
- RBA kept policy settings unchanged and reiterated its dovish guidance that suggests no...
05 Oct 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks were pressured following the tech sell-off in the US and several headwinds for global markets
- President Biden reportedly stated to progressives that the spending package needs to be between USD 1.9tln-2.2tln
- In FX, the DXY hovers around the 94.00 mark, EUR/USD and GBP/USD eye 1.16 and 1.36 respectively
- RBA kept policy settings unchanged and reiterated its dovish guidance that suggests no rate hike until 2024 at the...
04 Oct 2021, 11:49 by Newsquawk Desk
- Major bourses in Europe have adopted somewhat of a mixed picture following on from the broad-based downbeat cash open
- In FX, the DXY briefly dipped below 94.000, EUR/USD and USD/JPY were choppy around 1.1600 and 111.00 respectively
- A total of 39 Chinese military jets flew into Taiwan’s air defence zone on Saturday followed by another 16 on Sunday
- US House progressives are reportedly willing to compromise on the USD 3.5tln amount with limits...
04 Oct 2021, 09:00 by Newsquawk Desk
- MON: USTR US/China remarks, OPEC+ Meeting; Swiss CPI (Sep); EZ Sentix Index (Oct); US Durable Goods R (Aug)
- TUE: RBA Policy Decision; Australian Trade Balance (Aug); EZ, UK and US Markit Services and Composite Final PMIs (Sep); US ISM Services PMI (Sep)
- WED: RBNZ Policy Decision; NBP Policy Decision; EZ Retail Sales (Aug); US ADP National Employment (Sep)
- THU: ECB Minutes; Bank of Israel Policy Decision; US Challenger Layoffs...
04 Oct 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed amid the ongoing Evergrande default concerns; mainland China was away
- In FX, the DXY briefly dipped below 94.000, EUR/USD and USD/JPY were choppy around 1.1600 and 111.00 respectively
- A total of 39 Chinese military jets flew into Taiwan’s air defence zone on Saturday followed by another 16 on Sunday
- US House progressives are reportedly willing to compromise on the USD 3.5tln amount with limits but rejected...
01 Oct 2021, 12:10 by Newsquawk Desk
- Bourses in Europe kicked off the first trading day of Q4 on the back foot, although the selling has somewhat stabilised
- US equity futures have also succumbed to the risk aversion; Chinese markets commenced the Golden Week holiday
- In FX, the DXY maintains 94.00 status, EUR/USD trades sub-1.16 and GBP/USD attempts to reclaw losses
- The House refrained from voting on the USD 1tln bipartisan infrastructure framework on Thursday...
01 Oct 2021, 06:55 by Newsquawk Desk
- Asia-Pac stocks began Q4 on the backfoot following the negative handover from Wall St.
- The S&P 500 closed the month and quarter out with its worst performance since the start of the pandemic
- In FX, the DXY maintains 94.00 status, EUR/USD trades sub-1.16 and GBP/USD remains pressured
- Congress passed the stopgap funding bill to avert a government shutdown
- The House refrained from voting on the USD 1tln bipartisan...
30 Sep 2021, 12:06 by Newsquawk Desk
- The upside momentum seen across US and European equity futures overnight stalled, with equities losing ground heading into the US session
- In FX, DXY eclipsed 94.500, EUR/USD hit a 14-month low, USD/JPY trades on either side of 112.00
- Chinese official Manufacturing PMI disappointed, whilst the Non-Manufacturing and Composite returned to expansionary territory
- The House passed the bill to suspend the debt ceiling to December 2022; unlikely to...
30 Sep 2021, 06:56 by Newsquawk Desk
- Asia-Pac stocks traded somewhat varied with the region indecisive at quarter-end and as participants digested a slew of data releases
- Chinese official Manufacturing PMI disappointed, whilst the Non-Manufacturing and Composite returned to expansionary territory
- In FX, the DXY remains on a 94.00 handle, whilst EUR/USD recouped 1.16 status and GBP/USD trades on a 1.34 handle
- The House passed the bill to suspend the debt ceiling to December...
29 Sep 2021, 12:02 by Newsquawk Desk
- Bourses in Europe are attempting to claw back some ground lost yesterday; the Oil & Gas sector lags while Tech recovers
- In FX, DXY printed a new YTD high sub-94.00, EUR/USD hit fresh 2021 lows and the NZD underperforms
- Evergrande sold CNY 10bln of shares in Shengjing Bank that will be used to pay the developer’s debt owed to the company
- Japan's Kishida has been elected as the leader of the LDP Party and as the new Japanese...
29 Sep 2021, 06:55 by Newsquawk Desk
- Asian equity markets were pressured on spillover selling from global peers which saw the S&P 500 suffer its worst day since May
- Tech losses were magnified as yields climbed and with sentiment also dampened by weak data
- Evergrande sold CNY 10bln of shares in Shengjing Bank that will be used to pay the developer’s debt owed to the company
- In FX markets, the USD held on to most of the prior day’s gains, EUR/USD and GBP/USD remain on 1.16...
28 Sep 2021, 12:04 by Newsquawk Desk
- Bourses in Europe extended on the losses seen at the cash open and trade lower across the board
- US equity futures have also been hit in tandem with the surge in global yields; NQ underperforms
- US 10yr yield rose further above 1.50%, the 20yr topped 2.00% and the UK 10yr hit 1.00% for the first time since March 2020
- Advances in the crude complex saw Brent Nov contract reach USD 80/bbl, although volume and open interest has migrated to...
28 Sep 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed following on from a Wall Street lead where value outperformed growth
- The DXY heads into the European open marginally softer with EUR/USD and GBP/USD on 1.17 and 1.37 handles respectively
- Advances in the crude complex saw Brent reach USD 80/bbl for the first time since October 2018
- The Senate voted along party lines to block the bill to suspend the debt limit and avoid a government...
27 Sep 2021, 11:55 by Newsquawk Desk
- Bourses in Europe have trimmed the gains seen at the open, albeit the region remains mostly in positive territory
- US equity futures vary, with the NQ (-0.3%) lagging as yields tick higher, whilst the RTY (+0.4%) outperforms
- In FX, the DXY eyes 93.500, EUR/USD fell below 1.1700 whilst USD/JPY inches closer to 111.00
- The German election results saw a narrow victory for the SPD, with the Greens and FDP set to play a key role in the...
27 Sep 2021, 06:57 by Newsquawk Desk
- Asian equity markets traded somewhat mixed with the region finding encouragement from reopening headlines
- That said, gains were capped heading towards month-end, while German election results remained tight and Evergrande uncertainty continued to linger
- The German election results saw a narrow victory for the SPD, with the Greens and FDP set to play a key role in the coalition-building process
- EUR was relatively unfazed by the inconclusive...
24 Sep 2021, 11:54 by Newsquawk Desk
- European bourses and US futures are subdued with Evergrande updates sparse and participants looking to Fed speak, ES -0.3%
- Silence from Evergrande and lack of coupon payments for its offshore bonds, stirred uncertainty for the company & APAC sentiment
- The DXY holds on to 93.00 but peers are generally contained aside from antipodeans while core debt remains depressed as the Gilt yield inches to 1.00%
- Chinese State Planner has issued a...
24 Sep 2021, 06:53 by Newsquawk Desk
- Asian equity markets traded mixed with the region failing to fully sustain the impetus from the positive performance across global counterparts
- Silence from Evergrande and lack of coupon payments for its offshore bonds, stirred uncertainty for the company
- The DXY holds on to 93.00 status with FX markets relatively contained ahead of the European session
- White House Budget Office will reportedly tell federal agencies to begin preparations for...
23 Sep 2021, 11:52 by Newsquawk Desk
- Risk sentiment remains positive after the APAC-lead; however, latest Evergrande sources have tarnished sentiment somewhat, ES +0.6%
- Chinese authorities are asking local governments to begin preparations for the potential downfall of Evergrande, WSJ citing sources
- On the subject, China has told Evergrande to avoid a near-term USD bond default; we await details of today's payment
- DXY is subdued with peers firmer across the board ex-JPY on the...
23 Sep 2021, 06:52 by Newsquawk Desk
- The FOMC gave notice that a reduction in the pace of asset purchases may soon be warranted
- Fed Median dot plot sees 1 hike in 2022 (prev. 0); 3 hikes in 2023 (prev. 2); 7 hikes through 2024; long run 9 (prev. 9)
- Asian equity markets traded mostly positively as the region took its cue from the gains in the US
- DXY has pulled back a touch from advances above 93.50 and EUR/USD has reclaimed 1.17 to the upside
- Looking...