09 Jan 2024, 11:20 by Newsquawk Desk
- European equities and US futures are modestly weaker; Russell (-0.9%) underperforms giving back yesterday’s advances
- Dollar is incrementally firmer, Yen continues to make up ground
- Bonds are modestly pressured, Gilts got a slight boost after a strong Gilt auction
- Crude extends gains as it attempts to pare back the prior day's losses and amid geopolitical tailwinds
- Looking ahead, US International Trade, Canadian...
09 Jan 2024, 06:35 by Newsquawk Desk
- APAC stocks traded higher as the region took impetus from the gains on Wall Street where tech outperformed.
- Fed's Bowman said policy appears to be sufficiently restrictive, Bostic reiterated his call for 2 x 25bps rate cuts this year.
- European equity futures are indicative of a higher open with Euro Stoxx 50 futures +0.3% after the cash market closed up by 0.5% on Monday.
- DXY is a touch softer but maintaining 102 status, JPY is the marginal...
08 Jan 2024, 11:15 by Newsquawk Desk
- European and US Futures are modestly lower, amid the broader negative risk tone
- Boeing -8.5% pre-market after the FAA ordered a grounding/inspection of 737 Max 9 operated by US airlines
- Dollar holds within a tight range; Antipodeans lag & JPY bid in-fitting with the risk-averse environment
- Bonds divergent, with Treasuries holding around flat whilst Bunds dip lower
- Crude is markedly lower alongside base metals,...
08 Jan 2024, 06:35 by Newsquawk Desk
- APAC stocks gradually deteriorated following a muted start and last Friday’s post-data whipsawing stateside.
- US House Speaker Johnson said congressional leaders reached a spending level deal in which the topline figure for FY24 is USD 1.6tln.
- European equity futures are indicative of a slightly lower open with Euro Stoxx 50 futures -0.2% after the cash market closed down by 0.2% on Friday.
- DXY contained sub-102.50, JPY the marginal G10...
05 Jan 2024, 14:32 by Newsquawk Desk
- MON: Swiss CPI (Dec), EZ Retail Sales (Nov), Sentix (Jan), Japanese Tokyo CPI (Dec), Chinese Trade Balance (Dec).
- TUE: EIA STEO; German Industrial Output (Nov), US NFIB (Dec).
- WED: CNN Republican Debate; Norwegian CPI (Dec), Chinese CPI/PPI (Dec), Chinese M2 (Dec).
- THU: US CPI (Dec), IJC (w/e 5th Jan), Japanese Current Account (Nov).
- FRI: UK GDP (Nov), US PPI Final Demand (Dec), Canadian Housing Starts...
05 Jan 2024, 11:20 by Newsquawk Desk
- US Equities post losses but to a lesser magnitude than their European counterparts, as attention turns to US NFP
- Dollar is firmer and Yen continues its losing run; Antipodeans lower amid a subdued risk tone
- Bunds initially lifted on softer German Retail Sales, though entirely pared the move ahead of key US data; unreactive to Flash EZ HICP
- WTI and Brent are firmer on reports that the US is drafting plans to respond to Houthi...
05 Jan 2024, 06:34 by Newsquawk Desk
- APAC stocks eventually traded mixed as the earlier positivity gradually waned despite a lack of major newsflow.
- DXY traded in a tight range but briefly breached 102.50 to the upside, USD/JPY inched closer towards 145 before waning, and EUR/USD was subdued after falling under 1.0950.
- Crude futures were firmer whilst Politico sources suggested the US is drafting plans to hit back at Iran-backed Houthi militants.
- South Korea ordered an...
04 Jan 2024, 11:25 by Newsquawk Desk
- European bourses and US Futures extend modest gains, though the Russell outperforms paring back the prior day’s hefty losses
- Dollar is softer and the Pound gains post-final PMI revisions, EUR bid on PMIs with German inflation due; Yen continues its losing streak
- Bonds weaken as attention turns to US data; hawkish reaction after Final PMI revisions
- Crude benchmarks are firmer as Middle East tensions continue alongside USD downside, XAU also...
04 Jan 2024, 06:35 by Newsquawk Desk
- US stocks again saw losses on Wednesday with the Russell 2k heavily underperforming, with two-way action seen on the release of an overall balanced FOMC minutes.
- FOMC Minutes stated that participants viewed the policy rate as likely at or near its peak. Several participants observed that circumstances might warrant keeping the policy rate at the current level longer than they currently anticipate.
- APAC stocks traded lower across the board as the risk aversion...
03 Jan 2024, 11:15 by Newsquawk Desk
- European bourses post significant losses despite limited fresh newsflow, whilst US Futures are negative albeit to a lower magnitude awaiting key US data
- Dollar is firmer and JPY continues to underperform; Antipodeans diverge as the AUD/NZD cross dips below 1.08.
- Bonds are pressured with overall specifics light as markets await key US events
- Crude continues to pullback along with Gold, suffering from recent strength in the Dollar and the...
03 Jan 2024, 06:29 by Newsquawk Desk
- APAC stocks were mostly lower as sentiment reverberated from Wall Street's downbeat performance, while Japanese markets were away on a market holiday.
- DXY held a softer bias overnight but maintained 102+ status after taking a breather from yesterday's surge from a 101.33 low to a 102.25 peak. EUR/USD rose back above 1.0950 while USD/JPY traded on either side of 142.00.
- European equity futures are indicative of a slightly lower open, with the Euro Stoxx 50 future...
02 Jan 2024, 11:20 by Newsquawk Desk
- European equities are firmer, though have significantly pared much of their initial gains; US equity futures are mixed and generally more contained.
- DXY holds onto modest gains above 101.50, JPY lags
- Fixed benchmarks hold onto a negative bias ahead of a busy slate throughout the week
- Crude soars amid geopolitical tensions; Gold also gains whilst base metals are mixed
- Israel says it will pull out thousands of troops...
22 Dec 2023, 10:55 by Newsquawk Desk
- European bourses are mixed whilst US futures are entirely in the red; Nike (-12.2%) shares slump in the pre-market
- Dollar remains sub-102, GBP firmer post Retail Sales and Antipodeans softer
- Fixed benchmarks are around unchanged and Gilts are muted as Retail Sales strength is offset by GDP revisions
- Crude and Spot Gold benefit from broader weakness in the Dollar whilst Base Metals are mixed
- Looking ahead, US Personal...
22 Dec 2023, 06:30 by Newsquawk Desk
- APAC stocks traded with a modest positive bias following the gains on Wall Street but with gains capped ahead of the US PCE and the Christmas break.
- Nike (NKE) shares slumped over 11% after-market after guiding Q3 revenue slightly negative Y/Y, cutting FY24 revenue growth guidance, and warning of cautious consumers.
- DXY took a breather after dipping to multi-month lows overnight. The Dollar was sold on Thursday in quiet US trade with desks pointing to month-end...
21 Dec 2023, 11:15 by Newsquawk Desk
- European bourses are weaker whilst US Futures are firmer, attempting to pare back the prior day's losses
- Dollar is lacklustre in holiday-thinned trade, Yen outperforms
- Fixed benchmarks are incrementally firmer with outperformance in Gilts continuing Wednesday’s CPI-driven dovish move
- Crude futures are tilting lower though within recent ranges; Spot gold remains unchanged amid similar USD action
- Looking ahead, US GDP...
21 Dec 2023, 06:30 by Newsquawk Desk
- US stocks sold off in the NY afternoon with desks pointing to technical factors, hefty 0DTE put options volume, and positioning in "holiday-thinned trade".
- APAC stocks traded mostly lower as the downbeat sentiment from Wall Street reverberated despite a lack of major catalysts, although Mainland Chinese markets eventually eked out gains.
- The Biden administration is reportedly mulling raising tariffs on some Chinese goods, including EVs, WSJ sources said, in an...
20 Dec 2023, 11:25 by Newsquawk Desk
- European bourses and US Futures are weaker though the FTSE 100 (+0.8%) outperforms post-CPI
- Dollar remains propped up; Pound lags after softer-than-expected CPI; Yen outperforms
- Fixed is higher led by outperformance in Gilts as attention turns to US 20yr supply
- Crude is firmer with overall specifics light; Spot Gold gives back some of yesterday's gains whilst base metals are generally in the green
- Looking ahead, EZ...
20 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly positively following the tailwinds from Wall Street, although newsflow overnight was on the quieter side amid the pre-Christmas lull.
- Nikkei 225 and JGB futures surged as APAC traders reacted to BoJ Governor Ueda's dovish press conference.
- European equity futures are indicative of a firmer cash open, with Euro Stoxx 50 future +0.2% after cash markets closed +0.3% on Tuesday.
- The US reportedly weighs whether to...
19 Dec 2023, 11:35 by Newsquawk Desk
- BoJ maintained policy settings & forward guidance, Ueda said little chance for BoJ to say policy will change in January
- Dovish reaction in fixed income with JGBs leading and global yields lower, USD/JPY testing 145.00 at best
- European bourses & US futures are firmer, ES remains sub-4800 and Monday’s 4802.25 best
- DXY pivoting 102.50 with Antipodeans once again outperforming with strength also in EUR &...
19 Dec 2023, 06:37 by Newsquawk Desk
- APAC stocks eventually traded mixed after a subdued start to the session with news flow light and the BoJ failing to induce any macro price action.
- JPY was hit after the BoJ unanimously left its rate and YCC unchanged, whilst forward guidance was also maintained and the Bank acknowledged the recent cooling in inflation.
- Fed's Daly (2024 voter) said it is appropriate for the Fed to begin looking ahead to lowering interest rates in 2024 because of how inflation has...
18 Dec 2023, 11:45 by Newsquawk Desk
- Modest pressure in European/US equities after a similar APAC handover given some Fed pushback
- Fed's Mester (2024) says markets are a bit ahead of the Fed on rate cuts; Goolsbee (2023 voter) may need to shift focus to jobs
- DXY pressured around 102.50, EUR above 1.09 with limited reaction to Ifo; JPY lags into BoJ
- EGBs printed session highs after German Ifo with USTs contained & 30yr yield eyeing 4.00% to...
18 Dec 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mostly negatively following a weekend heavy with geopolitical headlines and as markets look to wind down for the Christmas break.
- DXY held a downward bias and traded on either side of 102.50 within a 102.44-63 range amid light macro newsflow and ahead of this week's BoJ confab and US PCE data.
- North Korea fired a long-ranged ICBM overnight, which landed outside of Japan's EEZ. The North Korean ICBM ballistic missile test could have a range...
15 Dec 2023, 15:43 by Newsquawk Desk
- MON: German Ifo (Dec), New Zealand Trade Balance (Nov).
- TUE: BoJ & NBH Policy Announcements, RBA Minutes (Dec); EZ HICP Final (Nov), Canadian CPI (Nov), Japanese Trade Balance (Nov).
- WED: PBoC LPR, BoC Minutes (Dec); UK CPI (Nov), EZ Current Account (Oct), EZ Consumer Confidence Flash (Dec), US Existing Home Sales (Nov).
- THU: CBRT & CNB Policy Announcements; UK PSNB (Nov), US Final GDP (Q3), IJC (w/e 15th),...
15 Dec 2023, 11:10 by Newsquawk Desk
- European equities and US Futures are firmer; the RTY (+0.9%) outperforms
- Dollar meanders around the 102 level; Antipodeans benefit from the risk tone whilst EUR lags post PMI
- EGB’s are bid following EZ Flash PMI data whilst USTs are contained pre-Williams; Gilts remain firmer but off highs after their own PMIs
- Crude holds a modest bias in line with a broader positive risk tone post Chinese Industrial Output...
15 Dec 2023, 06:30 by Newsquawk Desk
- APAC stocks traded mostly higher after the positive handover from Wall St as yields continued to decline.
- Chinese Industrial Production topped estimates but Retail Sales disappointed despite showing double-digit percentage growth.
- European equity futures are indicative of a higher open with Euro Stoxx 50 future +0.2% after the cash market closed up 0.2% yesterday.
- DXY hovers around the 102 mark, EUR/USD lingers just below 1.10 and...