• 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...

• 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...

• 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...

• Major bourses in Europe have drifted off best levels; US equity futures traded sideways with the NQ narrowly outperforming
• In FX, the DXY lost its 90.00 handle whilst EUR/USD and GBP/USD topped 1.2200 and 1.4200 respectively and USD/JPY dipped below 109.00
• Bent July futures rose above USD 70/bbl for the first time since March while WTI July tested USD 67/bbl to the upside
• US Senator Capito said the Republican infrastructure proposal is on...

• Asian equities traded mostly positive as the region shrugged off the negative lead from Wall Street
• In FX, the DXY remains subdued, EUR/USD extended gains above 1.2150 and GBP/USD trades at its best level in over two months
• WTI crude futures eked marginal gains to trade around the USD 66.50/bbl level
• US Senator Capito said the Republican infrastructure proposal is on track to be sent to President Biden on...

• Major bourses in Europe trade with little conviction whilst US equity futures remain contained with a downside bias
• Chinese industrial production printed inline with estimates and retail sales disappointed but still showed respectable growth
• China will extend tariff exemption for some US imported products from May 19th, according to the Finance Ministry
• In FX markets, DXY remains soft under Friday's lows; EUR/USD reclaimed 1.2150, GBP/USD...

• MON: Eurogroup Meeting; Chinese Retail Sales and Industrial Production (Apr)
• TUE: RBA Minutes (April); EU Economic & Financial Affairs Council; Japanese GDP (Q1); UK Jobs Report (Mar); EZ Employment (Q1) and GDP (Q1)
• WED: FOMC Minutes (April); UK Inflation (Apr); EZ CPI (Apr) Canadian CPI (Apr); Hong Kong Holiday
• THU: PBoC LPR, SARB Rate Decision, BoC Financial System Review presser; EU Foreign Affairs Council Meeting (Trade);...

• Asian equities traded somewhat mixed and only partially benefitted from last Friday’s rebound on Wall St.
• Chinese industrial production printed inline with estimates and retail sales disappointed but still showed respectable growth
• In FX markets, the DXY heads into the European open firmer, EUR/USD pulled back from 1.2150 and GBP/USD sits on a 1.40 handle
• WTI crude futures were uneventful overnight, whilst gold prices remained firm above USD...

• European bourses are firmer following the positive APAC performance with US futures following suit ahead of data, ES +0.6%
• USTs have been climbing all morning recovering recently lost ground with yields suppressed and the USD downbeat as such to the modest benefit of peers
• President Biden told Republicans that he wants to see real progress on a possible bipartisan deal by Memorial Day
• Israeli PM Netanyahu is reportedly showing signs of...

• Asia-Pac stocks were mostly higher as the region took impetus from the firm performance in the US
• Major US indices recovered from the recent inflation-triggered sell-off and snapped a 3-day losing streak
• In FX, the DXY traded within a narrow range overnight, EUR/USD remains sub-1.21 and GBP/USD sits on a 1.40 handle
• President Biden told Republicans that he wants to see real progress on a possible bipartisan deal by Memorial...

• European bourses are pressured following overnight losses though US futures are comparatively less pressured; Euro Stoxx 50 -1.5%, ES -0.3%
• DXY remains bid at fresh session highs but still sub-91.00 with peers modestly pressured overall as GBP and Antipodeans lag
• USTs have been oscillating the U/C mark for much of the morning though the 10yr yield retains 1.70% with EGB action more pronounced and yields extending to key levels
• Colonial...

• Asian equity markets were pressured following on from the losses in the US post-CPI
• The S&P 500 and DJIA posted their worst 3-day performance in over 6 months
• USD held on to most of yesterday's gains, EUR/USD is subdued beneath 1.21 and GBP/USD remains on a 1.40 handle
• Colonial Pipeline has announced that it is to restart operations; could take several days for operations to return to normal
• The Bipartisan Policy...

• European equities are firmer and earnings focused but US futures are softer and tentative overall going into US CPI
• USD is modestly firmer but contained with peers only marginally weaker ex-antipodeans and GBP unreactive to the latest EU-UK updates
• Core debt has consolidated somewhat going into CPI and Fed speak after which the 10yr outing will draw attention particularly if concession begins exerting influence once more
• Top Republican...

• Asian equity markets were subdued following the lacklustre performance in the US where the DJIA suffered its worst day in over two months
• Losses in the Nasdaq were only marginal after the tech sector spent most of the session nursing its recent underperformance
• In FX, the DXY is firmer, EUR/USD retreated further below 1.2150 and GBP/USD maintains 1.41 status
• WTI crude futures were flat after finding support at the USD 65.00/bbl level. Focus...

• Equities are depressed across the board in a continuation of the US & APAC spillover with tech among the underperformers as inflationary concerns remain at the forefront
• US Senate Republicans reportedly signalled that they could increase the infrastructure counterproposal to President Biden, Politico
• Chinese CPI printed below forecast while PPI rose at its fastest pace since 2017
• DXY is off lows but remains pressured in-spite of yields...

• Asia-Pac bourses traded with firm losses amid spillover selling from the tech-led declines on Wall St
• All major US indices were dragged into the red with underperformance in the Nasdaq as tech names sold off
• Chinese CPI printed below forecast while PPI rose at its fastest pace since 2017
• The DXY heads into the European session relatively flat, EUR/USD rests just below 1.2150 and GBP/USD maintains 1.41 status
• US...

• Equities are contained with the initial modest European strength dissipating while the ES is unchanged and NQ/YM are mixed
• DXY is off-lows and holding 90.00 but pressured with Cable eclipsing 1.40 amid Scottish election results
• US Colonial Pipeline shut down its entire network as prelim. reports indicate the cyber attack could have Russian links, no time-line for a restart at present
• LME copper hit record highs as did Dalian iron ore futures...

• MON: Riksbank Minutes; Norwegian CPI; EZ Sentix Index.
• TUE: BoJ SOO, CBRT Minutes, EIA STEO & OPEC MOMR; Chinese Inflation; German ZEW Survey, Australian Budget. 
• WED: IEA MOMR; UK GDP; US CPI. 
• THU: Banxico Rate Decision; India Holiday, Swiss Holiday. 
• FRI: ECB Minutes, BoC Senior Loan Officer Survey; US Retail Sales; University of Michigan Survey.

NOTE: Previews...

• Asian equities traded mostly positive as the region reacted to last Friday's disappointing US jobs data, which saw US majors hit record highs
• In FX, the DXY remains below 90.50, EUR/USD holds on to 1.2150 and GBP/USD trades on a 1.40 handle
• The SNP won 64 seats in the Scottish Parliamentary election, falling one short of the number required for an absolute majority
• A ransomware attack forced the shutdown of the Colonial Pipeline, which is...

• European bourses are firmer extending on APAC performance with miners leading the way; US futures are also firmer though closer to the unchanged mark pre-NFP
• The Biden administration is likely to go ahead with former President Trump's China investment ban and Blinken is to keep the pressure up in his UN speech
• EUR and GBP are the outperformers with the single currency seeing upside around Kazak remarks and GBP as local election results filter...

• Asian equity markets traded mostly higher following the late ramp up on Wall St. and encouraging data from China
• Gains were capped ahead of US NFP data and as increased US-China hawkish rhetoric contributed to the tentativeness
• The Biden administration is likely to go ahead with former President Trump's China investment ban
• In FX, the DXY languished beneath 91.00, EUR/USD held on to gains above 1.2050 and GBP/USD reclaimed...

• European bourses gave up opening gains but have recovered from lows to largely mixed/unchanged performance; US futures are marginally firmer
• China was mixed on its return with pressure in bio stocks as the US administration is in favour of waiving IP rights, with the EU announcing a similar stance
• China NDRC announced it is to suspend indefinitely all activities under the China-Australia Strategic Economic Dialogue mechanism, citing Australia's disruption of...

• A mixed picture was observed in Asia-Pac stocks as the region took its cue from the indecision stateside
• The Nasdaq was dragged lower by weakness in tech and growth, although S&P 500 and DJIA remained afloat
• In FX markets, the DXY was relatively contained overnight, EUR/USD oscillated around 1.20 and GBP/USD clings on to 1.39 status
• Brent crude printed a fresh COVID-era high just shy of the USD 70/bbl...

• European bourses are firmer at present with mining, oil and tech names the outperformers; US futures are also supported though magnitudes are more contained
• US Treasury Secretary Yellen clarified her remarks stating she was not predicting or recommending a rate increase
• DXY largely recovered from initial pressure, briefly surpassing yesterday's peak though it is now pivoting the unchanged mark with peers contained and rangebound ex-NZD
• Core...

• Asian equity markets traded cautiously as the region battled to shrug off the tech-led declines in the US
• US Treasury Secretary Yellen stated that interest rates will have to rise somewhat to ensure the economy does not overheat
• Yellen later clarified that she is not predicting nor recommending a rate increase
• In FX, the DXY retraced some of yesterday's gains, EUR/USD held on to 1.20 status and GBP/USD reclaimed...