13 Apr 2021, 11:48 by Newsquawk Desk
- Equities meander in relative proximity to the unchanged mark with little conviction or fresh drivers present ahead of today's risk events; ES +0.1%, Euro Stoxx 50 +0.3%
- The USD is firmer but contained with peers mixed and rangebound while fixed falls with auction concession factoring and yields firmer and focused around the 5yr Stateside
- Crude remains underpinned given growing geopolitical tensions and the OPEC MOMR due at 13:00BST/08:00EDT...
13 Apr 2021, 06:54 by Newsquawk Desk
- Asian equity markets mostly shrugged off the subdued handover from Wall St peers but with gains capped ahead of this week’s risk events
- Chinese March trade figures saw exports and the trade balance miss expectations whilst imports topped estimates
- US Treasury Secretary Yellen will reportedly not label China as a currency manipulator in the Treasury's FX report due on Thursday
- In FX, the DXY recouped some of yesterday's losses, EUR/USD trades...
12 Apr 2021, 11:47 by Newsquawk Desk
- European bourses are mixed but range-bound for the morning, Euro Stoxx 50 U/C; Stateside, futures are slightly softer but contained
- USD is downbeat with lower yielding peers beginning to pick-up as the US yield curve bull-flattens slightly as EGBs pick back up from Friday's pressure
- Fed's Powell said the economic recovery is better than he expected and with vaccinations, there is a resumption of what seems to be a very strong expansion
- Crude...
12 Apr 2021, 06:54 by Newsquawk Desk
- Asian equity markets began the week subdued and US equity futures marginally pulled back from record levels
- Participants were tentative ahead of the start of US earnings season and this week’s key data releases
- In FX, the DXY consolidated above 92.00, EUR/USD trades in close proximity to 1.1900 and GBP/USD sits just north of 1.3700
- US President Biden aims to complete the infrastructure program by the summer, according to the US Energy...
09 Apr 2021, 11:55 by Newsquawk Desk
- European bourses are contained and in proximity to the unchanged mark amid a sparse European session; energy names in particular choppy given similar action in crude once again
- German Health Minister Spahn says nationwide measures are needed to break the COVID-19 infection wave, a lockdown is required
- The USD remains underpinned but shy of yesterday's peak in DXY terms with antipodeans and JPY the current laggards
- Core debt is pressured with...
09 Apr 2021, 06:54 by Newsquawk Desk
- Asia-Pac markets end the week with a cautious tone as regional bourses failed to sustain the early momentum from the tech-led gains in the US
- Sentiment in the US was underpinned as yields eased and Fed Chair Powell stuck to the dovish script
- Fed Chair Powell said there is a brighter outlook for the US economy but reiterated that the Fed needs to keep supporting the economy
- In FX, the DXY maintains 92.00 status, EUR/USD holds onto the 1.19...
08 Apr 2021, 12:01 by Newsquawk Desk
- European bourses are contained in relative proximity to the unchanged mark while US futures are faring better with Nasdaq and Russell 2000 the outperformers, +0.7%
- DXY is under pressure but has picked up from lows with antipodeans & JPY benefitting while other peers are essentially unchanged
- US government completed its intelligence review of the alleged misconduct by Russia related to the SolarWinds hack and election interference, while the US may announce...
08 Apr 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded mixed-to-positive after a relatively flat finish on Wall Street
- There was nothing new of particular note within the FOMC's March meeting minutes
- In FX, the DXY sits sub-92.50, EUR/USD slipped back below 1.19 and GBP/USD remains on the backfoot
- US President Biden said he is prepared to hear proposals for a corporate tax rate below 28%
- Looking ahead, highlights include ECB minutes, US IJC, BoE's...
07 Apr 2021, 11:56 by Newsquawk Desk
- European bourses & US futures are somewhat mixed but largely contained, Euro Stoxx 50 -0.1%/ES +0.1%, with fresh fundamental drivers sparse
- The USD has been choppy throughout the morning extending to both fresh session highs and lows; currently, major peers are mixed while antipodeans continue to underperform
- European Medicines Agency expects to hold its AstraZeneca (AZN LN) press briefing at 15:00BST/10:00EDT
- Crude has been volatile...
07 Apr 2021, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed following on from the flat performance on Wall St where most major indices consolidated
- A lack of incremental macro newsflow and looming FOMC minutes ensured a non-committal tone
- RBI kept rates unchanged with the Repurchase Rate kept at 4.00% and Reverse Repo Rate kept at 3.35%, as expected
- In FX, the DXY languished beneath 92.50, EUR/USD retained a firm hold of the 1.18 handle and GBP/USD maintains 1.38...
06 Apr 2021, 11:51 by Newsquawk Desk
- European bourses are firmer across the board, Euro Stoxx 50 +0.8%, as the region returns from the Easter break and reacts to US data; Stateside, futures are a touch softer
- US Senate Parliamentarian ruled in favour of Democrats efforts and stated that a revised budget resolution may contain budget reconciliation instructions
- DXY has been grinding higher throughout the session to the detriment of peers across the board with GBP also hindered via EUR/GBP action; RBA...
06 Apr 2021, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed as the regional bourses failed to fully sustain the momentum from their counterparts on Wall St
- The S&P 500 and the DJIA extended on fresh record highs in their first opportunity to react to last week’s NFP jobs report and yesterday's ISM print
- In FX, the DXY nursed some of yesterday’s losses after having dwindled towards 92.50, EUR/USD and GBP/USD sit on 1.18 and 1.39 handles respectively
- The RBA policy...
01 Apr 2021, 11:34 by Newsquawk Desk
- European equity indices and US equity futures are firmer across the board, with the tech-heavy NQ the outperformer, +0.9%
- DXY has been somewhat choppy but within contained ranges for the session with major peers largely flat/mixed at present
- US President Biden proposed a USD 2trln plan with spending spread over 8 years, and noted that the corporation tax rate will increase to 28%
- OPEC+ will reportedly discuss options that include a rollover...
01 Apr 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded positively amid a busy slate of data releases and US President Biden’s announcement of his two-part spending proposal
- Measures include capital investment of around USD 2tln with spending spread over 8 years, while he also suggested increasing the corporate tax rate to 28%
- French President Macron announced new measures including a national lockdown which will take place from Saturday and last for at least one...
31 Mar 2021, 11:35 by Newsquawk Desk
- European equity indices are mixed whilst US equity futures are largely unchanged but with the NQ outperforming, +0.4%
- DXY is softer on the session to the benefit of its major peers, with GBP/USD seeing further upside but yet to breach 1.38
- In President Biden’s speech at 21:20BST/16:20EDT he is expected to unveil USD 2.25tln of infrastructure spending, and to comment on increasing corporate tax to 28%
- Chinese Manufacturing and...
31 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded cautiously during the quarter- and fiscal year-end with sentiment not helped by the uninspiring lead from the US
- Participants were tentative ahead of President Biden’s speech later today where he is to unveil USD 2.25tln of infrastructure spending
- Biden is also expected to comment on increasing the corporate tax rate to 28%
- Chinese Manufacturing and Non-Manufacturing PMI data exceeded...
30 Mar 2021, 11:35 by Newsquawk Desk
- European equity indices are firmer across the board, but US equity futures are mixed with NQ the underperformer, -0.4%
- DXY has continued to strengthen as yields rise, residing on the 93.00 handle but off highs with JPY and EUR hindered given relative-yield effects
- Saudi Arabia is reportedly ready to support an OPEC+ oil cut extension into May and June and is prepared to extend voluntary cuts
- Wall Street banks were summoned by US regulators...
30 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks just about shrugged off the early indecision following the negative bias stateside
- Most US indices declined as sentiment was dampened amid the fallout from the USD 20bln Archegos liquidation and rising yields
- Additionally, the White House warned that infections are increasing again and President Biden has even called on states to pause re-opening efforts
- In FX, the DXY consolidated near yesterday's highs, EUR/USD was...
29 Mar 2021, 11:27 by Newsquawk Desk
- European equity indices have opened mixed but with a slight positive bias whilst US equity futures are negative and the RTY is the underperformer, -0.8%
- The Dollar has strengthened and surpassed last week’s highs; exerting further pressure on the EUR as EUR/GBP has hit YTD lows of 0.8510
- German Chancellor Merkel threatened the use of federal law to toughen pandemic restrictions
- The stuck tanker in the Suez Canal has reportedly been refloated...
29 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac equity markets eventually traded mostly higher as the region picked up the baton from last week's late surge on Wall St
- In FX, the DXY consolidated overnight, EUR/USD was rangebound beneath 1.18, GBP/USD sits on a 1.37 handle
- German Chancellor Merkel threatened the use of federal law to toughen pandemic restrictions
- The stuck tanker in the Suez Canal has reportedly been refloated with engineers partially freeing the...
26 Mar 2021, 11:00 by Newsquawk Desk
- European equity indices and US futures are firmer on the session with RTY the mild US outperformer, +0.9%
- The Dollar has been choppy to the benefit of its major counterparts, EUR/USD testing 1.18
- In Europe, officials suggest that Germany is beginning a third COVID wave and there are clear signals that the current wave could be worse than the first
- North Korea confirmed that it test-fired a new tactical guided missile on Thursday without...
26 Mar 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded mostly higher following the rebound in the US where small caps atoned for the prior day's underperformance
- In FX, the DXY slightly eased off 4-month highs, EUR/USD remained sub-1.18, antipodeans outperformed
- WTI crude futures nursed some of the prior day's losses and reclaimed the USD 59.00/bbl level
- The US 7-year note sale went down miserably, again, but not quite as bad as February's
- European...
25 Mar 2021, 11:00 by Newsquawk Desk
- European equity indices have recovered off worst levels while US futures consolidate, with the NQ narrowly outperforming
- Dollar has traded choppy; JPY has been trailing behind and is only just above the 109.00 handle; FX eyes sizeable OpEx
- SNB kept policy rate unchanged at 0.75%; CHF classification reaffirmed as “highly valued” and reiterates the willingness to intervene in FX if necessary, but removes 'more strongly' phrasing
- AstraZeneca...
25 Mar 2021, 06:54 by Newsquawk Desk
- Asian equity markets were choppy as the region attempted to shrug-off the weak handover from Wall St
- US Treasury Secretary Yellen and Democratic Senator Manchin voiced their support for corporate tax increases
- In FX, the DXY reversed course after breaching its 200DMA to the upside, EUR/USD found a base at 1.18, GBP/USD trades sub-1.37
- The UK and EU are working on specific steps they can take to create a win-win situation, according to a...
24 Mar 2021, 11:00 by Newsquawk Desk
- European equity indices are softer on the session but US futures are firmer with the tech heavy NQ the modest outperformer, +0.9%
- Dollar has seen early morning gains to the detriment of major counterparts, though action has been slightly choppy at YTD DXY highs
- South Korean Military confirmed reports that North Korea fired two cruise missiles off its west coast on Sunday
- Oil is firmer on the day and attempting to reclaim yesterdays losses...