• US stocks finished mixed (S&P 500 -0.4%) following a choppy, catalyst-lite session with indices stumbling into the close
• Asian stocks were mixed after the choppy mood in the US with newsflow dominated by geopolitical headlines
• European futures are indicative of a softer open with the Eurostoxx 50 future down by 0.3% after the cash market closed higher by 0.3% yesterday
• DXY marginally gained above 95.50 but with price action contained....

• Core European bourses are choppy and mixed overall, Euro Stoxx 50 -0.1%, though the periphery is pressured on domestic debt downside; FTSE MIB -1.6%
• Stateside, US futures are pressured but have also been choppy/rangebound for the most part, RTY lags
• Dollar retains the bulk of its stellar BLS labour report gains, but eases from best levels; with peers mixed across the board
• BTPs drop as core-periphery spreads widen with Lagarde in focus,...

• MON: Biden/Scholz Meeting; Chinese Caixin Services PMI (Jan); Russia-Ukraine Berlin Meeting.
• TUE: NBP Announcement; EIA STEO.
• WED: RBI Announcement; New Zealand Inflation Forecasts (Q1).
• THU: Riksbank Announcement; Banxico Announcement; Bank of Indonesia Announcement; UK GDP (Q4); US CPI (Jan); OPEC MOMR.
• FRI: CBR Announcement; UK GDP Estimate (Dec); Swiss CPI (Jan); Uni of Michigan Prelim. (Feb); IEA OMR;...

• US stocks finished mostly positive on Friday in what was a choppy session as investors digested a blow-out NFP report
• Asian stocks were mixed with mainland Chinese participants returning from the Lunar New Year holiday
• European futures are indicative of a higher open with the Eurostoxx 50 future up by 0.5% after the cash market closed lower by 1.3% on Friday
• DXY climbed back above 95.50 post-NFP beat with participants eyeing this week's US...

• European equities have drifted from the positive cash open despite a lack of news flow; US equity futures have largely given up earlier gains, NQ remains the outperformer post-Amazon
• DXY is contained but with a negative bias as EUR extends further, GBP pullsback and antipodeans lag
• Core EGB benchmarks came under further pressure in early-European hours on further hawkish repricing; USTs remain relatively contained
• WTI and Brent continue to...

• Asian stocks eventually traded mostly positive following the tech-related turbulence in US
• After-market earnings saw Amazon (AMZN) rising 14% and Snap (SNAP) soaring almost 60%
• US equity futures rose overnight with the NQ (+2%) leading the gains; Amazon holds an ~8% weighting in the NDX
• In FX, DXY extended further below 96.00, EUR/USD climbed above 1.1450 and Cable briefly reclaimed a 1.3600 handle
• In fixed income,...

• European bourses are pressured, Stoxx 600 -0.7% given the US after-market read across, followed by numerous earnings releases in the pre-market dictating individual movers/sectors.
• US futures are subdued and the NQ underperforms on Meta (-20%) earnings while the ES/RTY fare marginally better going into risk events.
• DXY has seen a bounce as peers pull-back going into BoE/ECB with G10 peers pressured across the board.
• Core debt is contained/choppy while EGB periphery benchmarks lag marginally amid...

• US stocks finished mostly higher in which major indices gained for a 4th straight day, although futures were sold overnight as Meta shares slumped over 20% post-earnings
• Asian stocks were mostly negative and took their cues from the selling pressure in US equity futures and the Meta slump
• European futures are indicative of a slightly softer open with the Eurostoxx 50 future down by 0.2% after the cash market closed lower by 0.1%...

• European bourses are firmer benefitting from after-market US updates amid a number of European earnings; sectors are predominantly in the green with Tech outperforming post-Google
• US futures are bolstered across the board as the NQ outperforms given Google's +10.5% gains in the pre-market and its heavyweight status in the index; note, Meta and Amazon earnings are due Wednesday and Thursday respectively
• Greenback continues to soften on repositioning and hit on EUR...

• US stocks finished higher as buying late in the session helped stocks breakout from early tentativeness (S&P 500 +0.6%)
• Asian stocks were positive as the region took impetus from Wall St's best 3-day performance since 2020
• US equity futures traded mostly higher overnight led by the Nasdaq 100 futures after strong Alphabet and AMD earnings; E-mini S&P +0.5%
• European futures are indicative of a positive open with the Eurostoxx 50...

• European bourses are firmer taking impetus from the holiday-thinned APAC handover and Monday's US close; albeit, benchmarks are off best levels, Euro Stoxx 50 +1.0%
• Stateside, US futures are relatively contained but have moved directionally with European peers, the NQ remains the current modest outperformer
• DXY sheds more Fed rate hike premium and month-end rebalancing momentum; with peers firmer across the board
• Core debt regrouping after month-end rout, with data on the horizon amid a limited...

• US stocks rallied amid month-end rebalancing and in the aftermath of recent heavy selling. S&P 500 (+1.9%), Nasdaq (+3.4%). 
• Asian stocks were positive but with upside limited amid mass holiday closures for the Lunar New Year.
• European futures are indicative of a positive open with the Eurostoxx 50 future up by 1.0% after the cash market closed higher by 0.9% yesterday.
• DXY lacklustre ahead of the European open, EUR/USD capped...

31st January 2022

• European equities kicked off the week with gains across the board before momentum waned
• US equity futures have eased off best levels to conform to a mostly downward bias; NQ outperforms
• In FX, Dollar drifts along into month-end whilst traditional havens lag; Aussie outperforms pre-RBA
• Fed’s Bostic (2024 voter) suggested that a rate increase of 50bps is possible if inflation remains stubbornly...

• MON: Chinese New Year; Chinese NBS PMIs (Jan), Composite PMI (Jan), Japanese Consumer Confidence (Jan) and Unemployment (Dec), German GDP Flash (Q4), EZ GDP Flash (Q4), Canadian Producer Prices (Dec), US Chicago PMI (Jan).
• TUE: RBA Announcement; German Unemployment (Jan); EZ, UK and US Final Manufacturing PMI (Jan); US ISM Manufacturing PMI (Jan); New Zealand Jobs Report (Q4).
• WED: EZ Flash CPI (Jan); US ADP National...

• US stocks finished higher on Friday after they shrugged off an initial choppy start; Apple surged 7%
• Asian stocks were mostly positive but with conditions thinned due to closures on Chinese New Year's Eve
• US equities futures were marginally higher overnight but with gains contained heading into month-end
• Fed’s Bostic (2024 voter) suggested that a rate increase of 50bps is possible if inflation remains stubbornly...

• European bourses have conformed to the downbeat APAC handover with losses in the region extending following the cash open, Euro Stoxx 50 -1.7%.
• US futures are moving in tandem with European-peers; however, magnitudes are more contained as the ES is only modestly negative and NQ continues to cling onto positive territory following Apple earnings
• Buck bull run continues as DXY takes out another July 2020 high; peers pressured across the board as such
• Bonds back off as curves realign in wake of heavy...

• All major US indices were subdued with initial gains reversed as selling re-emerged into the NY afternoon
• Asian stocks eventually traded mixed although China lagged ahead of holiday closures next week
• US equities benefitted overnight as Apple shares rose 5% following its earnings beat
• In FX, DXY held on to most its recent gains above 97.00, EUR/USD remained firmly beneath 1.1200, GBP/USD reclaimed 1.3400...

• Major bourses in Europe are nursing the post-Fed pressure with the complex now mixed.
• US futures saw an initial recovery but have since dipped back into modest negative territory, though they remain off overnight troughs.
• USD bid post-Fed with the DXY eyeing 97.00, to the detriment of peers across the board.
• Debt is pressured but off-lows, while BTPs outperform as we await the 4th round of Italian voting.
• WTI and Brent have trimmed APAC losses, while focus remains very much on geopolitics as...

• FOMC expects it will soon be appropriate to raise the target range with bond-buying to end in March
• Fed Chair Powell did not rule out raising interest rates at every FOMC meeting
• All major US indices finished lower and APAC equity markets sold off following the FOMC and hawkish Fed Chair Powell comments
• European futures are indicative of a weaker open with the Eurostoxx 50 future lower by 2.4%
• DXY printed YTD highs with G10 peers all softer against the greenback ahead of the...

• European bourses are firmer in an extension of yesterday's upside, with the Stoxx 600 +2.0% on the session but still lower on the week.
• US futures are firmer across the board with the NQ, +2.0%, outpacing and benefitting from MSFT post earnings, +4.0% in pre-market.
• Greenback stands firm awaiting something hawkish from the Fed; newsquawk preview