14 Jul 2021, 11:57 by Newsquawk Desk
- European bourses hold a modest downside bias while US futures are mixed/flat; ES U/C & NQ +0.3%
- The RBNZ kept its OCR unchanged but tilted more hawkish than was expected; NZD outperforms
- USD is pressured with peers firmer but contained ex-NZD while core debt has bounced after strong German issuance
- US Senate Democrats reached a USD 3.5tln budget deal for spending and tax plans; Biden to meet with Democrats...
14 Jul 2021, 06:52 by Newsquawk Desk
- Asian equity markets traded mostly lower; US equity futures were also subdued
- In FX, the DXY held on to most of the CPI-induced gains following a soft 30yr auction
- US Senate Democrats reached a USD 3.5tln budget deal for spending and tax plans
- The RBNZ kept its OCR unchanged but tilted more hawkish than was expected; NZD outperformed
- Looking ahead, highlights include UK CPI, BoC & CBRT Policy Decisions, Fed's...
13 Jul 2021, 11:59 by Newsquawk Desk
- European bourses and US equity futures are contained with mild outperformance in the NQ (+0.4%) vs the ES (U/C)
- The DXY has been grinding higher with peers mixed/flat; USTs & EGBs are little changed
- Chinese trade data topped estimates but Customs warned of many uncertainties and instabilities in H2 due to the pandemic
- OPEC+ delegates believe the next ministerial meeting to discuss oil output policy won't occur until next month at the...
13 Jul 2021, 06:51 by Newsquawk Desk
- Asia-Pac stocks traded higher across the board; Hong Kong outperformed and US equity futures were flat
- In FX, the DXY was flat above 92.00, EUR/USD traded sideways and antipodeans outperformed
- Chinese trade data topped estimates but Customs warned of many uncertainties and instabilities in H2 due to the pandemic
- US President Biden's administration is said to be mulling a digital trade deal to counter China's digital presence in...
12 Jul 2021, 11:59 by Newsquawk Desk
- European bourses began the session indecisive but have since dipped as broad risk sentiment slips, Euro Stoxx 50 -0.3%, ES -0.3%, RTY -0.8%
- The DXY remains bid to the detriment of peers with high-betas suffering on COVID-19 concerns and crumbling commodities while USTs climb ahead of US supply
- ECB's Lagarde said she sees a July policy change and that there will be a forward guidance review at the July meeting, while she sees possible measures for 2022 and noted that...
12 Jul 2021, 09:00 by Newsquawk Desk
- MON: Riksbank Minutes (July), Eurogroup Meeting & Foreign Affairs Council
- TUE: US CPI (Jun); Chinese Trade Balance (Jun); IEA MOMR, EU Economic/Financial Affairs Council
- WED: BoC, RBNZ & CBRT Policy Decisions; UK Inflation (Jun); EZ Industrial Production (Jun); US PPI (Jun)
- THU: BoK Policy Decision, OPEC MOMR; Australian Labour Market Report (Jun); Chinese GDP (Q2); UK Claimant Count (Jun) and Unemployment Rate (May); US Philly Fed...
12 Jul 2021, 06:55 by Newsquawk Desk
- Asia-Pac stocks began the week on the front foot; Chinese markets conformed to the positive mood following the PBoC's surprise RRR cut on Friday
- In FX, DXY was lacklustre, EUR/USD held onto its 1.1800 handle, GBP/USD stalled at 1.3900 and USD/JPY found a base at 110.00
- ECB's Lagarde said she sees a July policy change and that there will be a forward guidance review at the July meeting, while she sees possible measures for 2022 and noted that PEPP may be followed by...
09 Jul 2021, 11:56 by Newsquawk Desk
- European bourses are firmer as risk-sentiment recovers from yesterday's pressure though US futures remain mixed and comparatively more contained
- The DXY is pressured at session lows with G10 peers supported across the board ex-JPY after yesterday's notable rally
- Core debt has pulled-back given the broader tone with yields elevated though significantly lower on the week as focus turns to Monday's US supply
- PBoC has cut the RRR by 50bps;...
09 Jul 2021, 06:57 by Newsquawk Desk
- Asia-Pac bourses resumed the downtrend seen across global counterparts which dragged Wall Street back from record highs
- The US is to add additional Chinese entities to its economic blacklist over human rights abuses in Xinjiang
- In FX, the DXY remains sub-92.50, EUR/USD and GBP/USD sit on 1.18 and 1.37 handles respectively
- ECB sources said policymakers failed to agree on new policy guidance; will be revisited on July...
08 Jul 2021, 11:50 by Newsquawk Desk
- European bourses, US equity futures and the crude complex are pressured with safe-haven assets outperforming as the tone deteriorates pre ECB events & US data
- The DXY is pressured but holding just above yesterday's trough with peers mixed and safe-haven JPY & CHF the clear outperformers; USD/JPY convincingly sub-110.00
- USTs and EGBs are bid and the US yield curve is bull-flattening with focus on -0.35% for the Bund yield
- Japan has...
08 Jul 2021, 06:53 by Newsquawk Desk
- Asian equity markets were mostly subdued as tailwinds from the modest gains in the US were offset by virus concerns and lingering China-related frictions
- FOMC minutes noted that the Fed has not yet seen the standard of 'substantial further progress' as having been met yet
- Minutes also noted that data was providing a less clear signal about underlying momentum
- The ECB is set to allow for some overshoot of its new inflation goal which is...
07 Jul 2021, 11:47 by Newsquawk Desk
- European bourses are firmer though US futures are little changed, Euro Stoxx 50 +0.4%, ES +0.1%, amid relatively quiet newsflow pre-FOMC minutes
- Crude has continued to consolidate amid limited OPEC+ updates and attention turning to US base attacks in Syria and Iraq
- USD is off best levels and now little changed with peers mostly firmer though JPY lags after failing to convincingly surpass 110.50
- China has completed the release of 100k/T of...
07 Jul 2021, 06:53 by Newsquawk Desk
- Asian equities traded subdued with risk appetite dampened by China crackdown concerns and soft US ISM data
- US indices finished mostly in the red although growth and tech were underpinned and lifted the Nasdaq to fresh record highs
- In FX, the DXY remains above 92.50, EUR/USD and GBP/USD languish on 1.18 and 1.38 handles respectively
- In commodities, WTI crude has steadied on a USD 73.00/bbl handle, whilst spot gold lost 1,800/oz...
06 Jul 2021, 11:42 by Newsquawk Desk
- European bourses are mixed/lower, Euro Stoxx 50 -0.2%, in relatively quiet newsflow aside from mixed ZEW; ES U/C
- The OPEC+ meeting was cancelled with no new date set. As such, current quota levels will be maintained; benchmarks are underpinned but off highs
- DXY has picked up notably from initial pressure going into today's US data and before tomorrow's FOMC Minutes with peers now mixed
- RBA kept rates unchanged and extended bond purchases at...
06 Jul 2021, 06:53 by Newsquawk Desk
- Asian equity markets traded indecisively in the absence of a lead from Wall St
- RBA kept rates unchanged and extended bond purchases at a lower rate through to mid-November
- UK PM Johnson announced the removal of COVID-19 restrictions which will allow the reopening of all remaining businesses from July 19th
- In FX, DXY was subdued but maintained 92.00 status, EUR/USD and GBP/USD eye 1.19 and 1.39 respectively
- The OPEC+...
05 Jul 2021, 09:00 by Newsquawk Desk
- MON: Chinese Caixin Services Final PMI (Jun); EZ Sentix Index (Jul); EZ, UK and US Markit Services and Composite Final PMIs (Jun); US Market Holiday (Independence Day), BoC Business Outlook Survey, Israel Policy Decision
- TUE: RBA Policy Decision; German ZEW Survey (Jul); EZ Retail Sales (May); US ISM Services PMI (Jun)
- WED: FOMC Minutes (Jun), EIA STEO
- THU: ECB Minutes (Jun)
- FRI: Chinese Inflation (Jun); UK...
05 Jul 2021, 06:58 by Newsquawk Desk
- Asian equity markets traded tentatively ahead of this week's risk events and as participants digested a slowdown in Chinese Caixin PMI data
- In FX, the DXY has nursed post-NFP losses, EUR/USD trades north of 1.1850 and GBP/USD remains on a 1.38 handle
- UAE rejected a proposal to extend the deal and increase production as it seeks a review of baseline production levels
- Saudi has rejected calls by the UAE to take an immediate decision regarding...
02 Jul 2021, 11:32 by Newsquawk Desk
- Equities are firmer but contained in a quiet session pre NFP & OPEC+, Euro Stoxx 50 +0.2% and ES +0.1%
- The DXY remains bid and is forging fresh highs to the modest detriment of peers ahead of significant EUR & JPY opex at today's NY cut
- WTI and Brent are holding steady ahead of the resumption/start to the JMMC/OPEC+ events at 09:00EDT & 10:30EDT respectively
- Core debt is bolstered going into the long-weekend and data with the US...
02 Jul 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mixed as the initial tailwinds from the mild gains on Wall St were offset by weakness in China
- The S&P 500 eked a fresh record high and the energy sector led the gains as focus centred on OPEC deliberations
- In FX, the DXY has held above 92.50, EUR/USD and GBP/USD remain lacklustre on 1.18 and 1.37 handles respectively
- Yesterday's OPEC+ meeting has been postponed until today amid frictions over the proposed...
01 Jul 2021, 12:00 by Newsquawk Desk
- European bourses/US futures have pared back essentially all of the mornings initial upside, Euro Stoxx 50 +0.1%, ES +0.1%; ahead of key US data
- OPEC+ deal likely to include a monthly oil output increase less than 0.5mln BPD until December-2021, sources; bolstering crude futures to session highs
- FX has been very choppy though the USD remains bid and USD/JPY surpassed 111.50 while Cable lost 1.38
- The BoJ Tankan survey missed expectations and...
01 Jul 2021, 06:54 by Newsquawk Desk
- Asian equity markets began H2 subdued following the mixed performance of Wall St counterparts
- The BoJ Tankan survey missed expectations and Chinese Caixin Manufacturing PMI printed short of estimates
- The DXY remains on a firm footing above 92.00, EUR/USD trades sub-1.1850 and GBP/USD holds on to 1.38 status
- Looking ahead, highlights include Riksbank Policy Announcement, Final EZ, UK & US Manufacturing PMIs, OPEC+ Meeting, US IJC, ISM...
30 Jun 2021, 11:42 by Newsquawk Desk
- European indices and US futures have come under pressure as the session progressed going into June, Q2 & H1 end; Euro Stoxx 50 -0.80%, ES -0.1%
- DXY remains bid above 92.00 with peers contained and Sterling the lone G10 outperformer while fixed is firmer & USTs yields flatter
- Chinese Manufacturing PMI topped estimates but showed slower growth in tandem with the softer Non-Manufacturing and Composite readings; capping APAC...
30 Jun 2021, 06:54 by Newsquawk Desk
- Asian equity markets head into month-end mostly positive but with gains capped as participants digested the latest Chinese PMIs
- Manufacturing PMI topped estimates but showed slower growth in tandem with the softer Non-Manufacturing and Composite readings
- In FX, the DXY consolidated after reclaiming 92.00, EUR/USD hovers around 1.19 and GBP/USD remains on a 1.38 handle
- The JMMC meeting was postponed to Thursday and will now be conducted in...
29 Jun 2021, 11:34 by Newsquawk Desk
- European bourses are firmer while US futures are more contained and sub yesterday's record levels after a subdued APAC handover; Euro Stoxx 50 +0.4%, ES U/C
- Crude remains pressured pre-OPEC with the JTC commencing from 12:00BST/07:00EDT today; though, benchmarks have recovered off lows which saw WTI test USD 72.00/bbl
- USD is supported in-spite of some rebalancing signals to the detriment of peers particularly high beta/crude sensitive FX
- US...
29 Jun 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded subdued with the regional bourses mostly lower after the mixed performance on Wall Street
- In the US, tech outperformed amid a decline in yields to lift both the S&P 500 and Nasdaq to fresh all-time highs
- In FX, the DXY was rangebound below 92.00, EUR/USD held onto 1.19 status, GBP/USD lost 1.39
- Commodities were pressured overnight in which WTI crude futures extended on the prior day's declines to test USD...