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  • European equities and US equity futures trade lower following a mixed APAC lead
  • In FX, the DXY probes 90.00 after briefly topping the level, EUR/USD and GBP/USD trade on either side of 1.2200 and 1.4200 respectively
  • Russian National Wealth Fund is to exit USD assets with the new structure expected to come into force within a month
  • US Senate Republicans and the White House are said to remain hundreds of billions of dollars apart on the...
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  • Asian equity markets eventually traded mostly positive as the region gradually broke free from the mundane tone from Wall Street
  • President Biden is to amend former President Trump's China blacklist to target key industries
  • Fed announced plans to offload its corporate bond and ETF holdings that were purchased last year
  • In FX, the DXY remains sub-90.00, EUR/USD hovers around 1.22 and GBP/USD sits just above...
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  • European bourses remain caged amid a lack of catalysts; US equity futures are similarly flat
  • DXY reclaimed 90.00, EUR/USD lost 1.22 status and GBP/USD sits sub-1.4150
  • Brent crude futures reclaimed USD 71/bbl whilst Iranian nuclear parties talks are adjourned for at least a week
  • Looking ahead, highlights include US Private Inventories, ECB’s Lagarde, Weidmann, Fed’s Harker, Evans, Bostic, Kaplan, Kashkari

CORONAVIRUS...

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  • Asian equity markets traded mixed following a similar indecisive performance in the US where the mood was tentative
  • DXY remains below 90.0, EUR/USD maintains 1.22 status and GBP/USD sits sub-1.42
  • Brent crude futures settled above USD 70/bbl yesterday for the first time since May 2019
  • Looking ahead, highlights include German Retail Sales, US Private Inventories, RBA’s Debelle, Bullock, ECB’s Elderson, Lagarde, Fed’s Harker, Evans, Bostic,...
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  • European equities opened on a firmer footing and extended gains; US equity futures also see broad-based gains but to a lesser extent
  • In FX, the DXY remained subdued beneath 90.00, EUR/USD reclaimed 1.22 and GBP/USD reached its highest level since early 2018 before losing 1.4200 status
  • US President Biden will meet with Sen. Capito on Wednesday; Senate Republicans have downplayed chances of an infrastructure deal this week
  • The RBA maintained...
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  • Asian equity markets traded mixed after lacking direction from the US and ahead of upcoming key risk events
  • In FX, the DXY remained subdued beneath 90.00, EUR/USD reclaimed 1.22 and GBP/USD reached its highest level since early 2018
  • RBA maintained rates as expected, reiterated its guidance that suggests conditions will not be met for a rate hike until 2024 at the earliest
  • OPEC+ is not expected to discuss output beyond July and wants to wait...
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  • MON: Israel Rate Decision; Chinese Official PMI (May); German Prelim. CPI (May); UK and US market holidays.
  • TUE: RBA Policy Decision; JMMC Meeting; Chinese Caixin Manufacturing PMI Final (May); German Retail Sales (Apr) and Unemployment; EZ and UK Manufacturing PMI Final (May); EZ Flash CPI (May); Canadian GDP (Q1); US ISM Manufacturing PMI (May) and Markit Manufacturing Final PMI (May).
  • WED: Israeli Presidential Election; EU Commission Fiscal Proposals/Guidance; Australian Real GDP (Q1).
  • THU:...
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  • Asian equity markets began the week subdued with risk appetite sapped amid holiday closures for key global markets
  • Headline Chinese Manufacturing PMI slightly missed expectations whilst Non-Manufacturing topped forecasts
  • DXY heads into the EU session around 90.00, EUR/USD trades circa 1.22 and GBP/USD eyes 1.42
  • Key GOP Senators in infrastructure discussions with the White House suggested over the weekend that they were still looking for a...
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  • Equities are mildly positive this morning in a contained/apprehensive move ahead of data and into month-end
  • FX has for the most part been contained with the DXY holding 90.00 and JPY sub-110.00 with OpEx in focus but attention on the Yuan after a strong PBoC fix
  • ECB's Schnabel says a premature removal of ECB support would be a great mistake though financing conditions remain favourable; welcomed the recent yield increase
  • Salesforce beat on...
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  • Asian equity markets traded mostly higher; Nikkei 225 outperformed on the back of the weaker JPY
  • In FX, the DXY consolidated around 90.00, USD/JPY hovered close to 110.00; and the Yuan continued to strengthen
  • US bipartisan bill to counter China received enough support to advance in the US Senate
  • BoJ is reportedly to consider a 6-month extension to the September deadline for the pandemic-relief program
  • OPEC+ is...
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  • European bourses have been choppy but generally directionless and rangebound while US futures see a marginal negative bias
  • DXY is oscillating the 90.00 mark with little conviction in moves either way and peers essentially unchanged across the board and similar action seen across debt thus far
  • The call between China's Vice Premier Liu He and USTR Tai was said to be candid and constructive, while both sides agreed to maintain communication
  • US...
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  • Asia-Pac bourses traded choppy after the mild positive bias from Wall Street wore thin as month-end looms
  • In FX, the DXY consolidated at 90.00, EUR/USD failed to reclaim 1.2200, whilst USD/CNH and USD/CNY remained below 6.4000
  • The call between China's Vice Premier Liu He and USTR Tai was said to be candid and constructive, while both sides agreed to maintain communication
  • US President Biden's administration and other Democrats close to the...
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  • European bourses are marginally pressured while US futures tread water in quiet newsflow ahead of month-end; ES +0.2%
  • ECB's Panetta says that current conditions do not justify reducing the pace of purchases, and a discussion about phasing out PEPP is premature
  • Antipodeans remain the clear outperformers post-RBNZ while the USD has remained bid after EUR slipped on Panetta and JPY errs lower
  • RBNZ stood pat on the OCR and LSAP as expected, but...
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  • Asia-Pac stocks were mostly positive in what was a modest improvement from the subdued performance on Wall Street
  • Most major US indices posted marginal losses, although the Nasdaq 100 bucked the trend amid resilience in tech
  • Fed Vice Chair Clarida agreed with the FOMC minutes that there will be a time at upcoming meetings where the Fed could start to discuss tapering
  • The DXY remains firmly below 90.00, EUR/USD trades above 1.2250 and GBP/USD...
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  • European bourses are contained but experiencing some slight divergence and have waned off initial best levels though the NQ remains the narrow outperformer
  • US Republican Senator Wicker said the GOP could support a total USD 1tln infrastructure package
  • Reports note speculation of intervention by China state banks in USD/CNY and USD/CNH around the 6.4000 level
  • DXY remains depressed and sub last week's trough to the benefit of peers across the...
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  • Asia-Pac stocks traded higher after taking the impetus from the encouraging performance in the US
  • Major US indices gained, led by outperformance in tech amid a decline in yields and alongside a rebound in crypto
  • The DXY remained subdued beneath 90.00, EUR/USD extended on advances above 1.22 and GBP/USD above 1.4150
  • EU leaders have agreed on a set of sanctions to be imposed on Belarus
  • US Republican Senator Wicker said...
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  • European bourses are modestly firmer though there are a number of closures given Whit Monday while US futures outperform modestly in quiet trade
  • The USD has been downbeat for much of the morning to the benefit of EUR in particular though the DXY did stage a short-lived resurgence
  • China's NDRC reportedly held discussions with major commodity firms and pledged to have zero tolerance on commodity futures violations
  • US Secretary of State Blinken...
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  • MON: Canadian Holiday (Victoria Day); EZ Holiday (Whit Monday); US-China meeting (TBC).
  • TUE: NBH Policy Decision; Indonesian Rate Decision; Special European Council Meeting; German Ifo Survey (May) and GDP Detailed (Q1); New Zealand Trade Balance (Apr).
  • WED: RBNZ Policy Decision; Riksbank Financial Stability Report (H1-2021).
  • THU: BoK Policy Decision; German GfK Consumer Sentiment (Jun); US GDP 2nd (Q1) and Durable Goods...
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  • Asia-Pac equities began the week choppy following on from last Friday’s mixed performance on Wall Street, light weekend newsflow and heading into month-end
  • China's NDRC reportedly held discussions with major commodity firms and pledged to have zero tolerance on commodity futures violations
  • DXY trades sub-90.0, EUR/USD and GBP/USD sit on 1.21 and 1.41 handles respectively, USD/JPY was capped by 109.00
  • US Secretary of State Blinken stated...
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  • Major bourses in Europe are mostly higher but off best levels; US equity futures trade sideways
  • The DXY has extends losses below 90.00, EUR/USD maintains 1.22 and Cable reclaimed 1.42 after PMIs
  • US Republicans and Democrats have privately admitted there hasn’t been much progress so far on the infrastructure bill
  • Israel and Hamas have agreed to a cease-fire on the Gaza Strip, commencing today
  • Germany and France have...
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  • Asian equity markets were mixed after failing to sustain the early momentum from the constructive mood on Wall Street
  • All major US indices finished higher amid a tech-led rebound. EU equity futures head into the open slightly firmer
  • The DXY remains subdued beneath 90.00, EUR/USD and GBP/USD maintain 1.22 and 1.41 status respectively
  • Israel and Hamas have agreed to a cease-fire on the Gaza Strip, commencing today
  • US...
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  • European bourses trade mixed as the earlier mild optimism faded; US equity futures have been erring lower
  • The White House is planning to submit its rebuttal to the Senate GOP infrastructure offer by Friday; Republicans are concerned that a deal may not be possible
  • Iranian President Rouhani said main agreement has been reached in Vienna including the removal of major sanctions; other issues are still being discussed
  • In FX, the DXY has been...
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  • Asian equity markets traded mixed with the region cautious following the mostly negative lead from the US
  • April FOMC Minutes gave a nod to potential taper discussions in the approaching meetings
  • In FX, the DXY is relatively steady above 90.00, EUR/USD remains sub-1.22 and GBP/USD sits on a 1.41 handle
  • WTI crude futures have stabilised around USD 63.50bbl, spot gold prices remain elevated
  • Looking ahead, highlights...
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  • Stocks in Europe have continued drifting lower; US equity futures are also lower across the board with the NQ lagging
  • German bund yield topped -10bps in early trade whilst US 10yr cash yield remains above 1.65%
  • There has been progress in JCPOA talks but the sides have not yet achieved a breakthrough, according to European sources
  • In FX, the DXY rebounded but remains sub-90.00, EUR/USD holds on to 1.22 status and GBP/USD hovers around...
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  • Asian equity markets were mostly negative, US equity futures extended on the losses seen during the prior session
  • Russia's envoy to JCPOA talks said important news is likely to be released by this Wednesday, although he later backtracked
  • In FX, the DXY remains sub-90.00, EUR/USD holds on to 1.22 status and GBP/USD met resistance at 1.42
  • Biden administration was said to be encouraged by the bipartisan infrastructure...
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