18 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded indecisively as the region took its cue from a similarly uninspiring lead from the US
- FOMC minutes proved to be uneventful in which the account noted that the Fed is still far from its inflation and employment goals
- The DXY held firm after its brief incursion above 91.00, EUR/USD capped by 1.2050, GBP/USD stuck on a 1.38 handle
- Italian PM Draghi's government won a vote of confidence at the...
17 Feb 2021, 12:00 by Newsquawk Desk
- European indices are modestly softer while US futures are essentially flat ahead of a number of US risk events, including FOMC minutes
- USTs are a touch firmer with yields flattening as such and off of yesterday's cycle highs of 1.33% in the 10-year
- Crude remains bolstered amid US oil production reportedly decreasing by a third and Texas warning of fuel shortages
- DXY is firmer and extending on initially contained ranges to the modest...
17 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac equity markets traded mostly lower after the lacklustre handover from Wall Street
- US Treasury yields printed fresh cyclical highs with the 10yr currently circa 1.3%
- US President Biden said every American who wants a vaccine will receive it by the end of July
- In FX, the DXY was choppy overnight, EUR/USD and GBP/USD remain sub-1.21 and 1.39 respectively
- WTI crude futures hovered around the USD 60/bbl level....
16 Feb 2021, 11:55 by Newsquawk Desk
- US futures are firmer, ES +0.4%, but off earlier highs with European equities softer, Euro Stoxx 50 -0.1%, and the reflation trade resuming; Russell 200 +0.8%, US 10yr-yield surpassing 1.25%
- Crude was initially firmer given refiners shutting facilities due to the US weather; however, benchmarks came under pressure as WTI dropped below USD 60/bbl
- APAC trade was hindered late-doors following FT reports that China is mulling curbs on rare earth metals exports targeting...
16 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded higher across the board as markets picked up from the holiday lull
- Some gains for regional bourses and US equity futures were later reversed after reports that China is mulling curbs on rare earth metals exports, targeting the US defense sector
- BoJ's Kuroda stated that the Bank will not end nor seek an exit from ETF purchases for the time being
- In FX, the USD remained subdued, EUR/USD was capped by 1.2150 and...
15 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac equity markets began the week positively with sentiment underpinned as US equity futures extended to fresh record levels
- The UK reached its 15mln vaccination milestone while the 7-day average new infection cases in the US recently declined below 100k for the first time in more than 3 months
- In FX, the DXY languished beneath 90.50, to the benefit of major peers, GBP/USD eyes 1.39
- Former ECB President Draghi was sworn in as Italy’s...
12 Feb 2021, 11:46 by Newsquawk Desk
- European bourses are mixed but have recovered off earlier lows with US futures directionally similar but with magnitudes more modest; ES -0.2%
- DXY remains elevated but shy of recent levels as EUR/USD breaches 1.2100 and USD/JPY through 105.00 where hefty expiries lie
- Italy 5SM members voted to support a Draghi government; potentially to be sworn in this weekend
- Russian Foreign Minister Lavrov says they are ready to break ties with the...
12 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were subdued in holiday-thinned trade and following a mixed lead from Wall Street
- In FX, the DXY attempted to recoup some lost ground, EUR/USD maintains 1.21 status, GBP/USD retreated below 1.38
- WTI crude futures retreated beneath USD 58.00/bbl and snapped an 8-day winning streak. Gold flat
- Italy 5SM members voted to support a Draghi government
- Looking ahead, highlights include UK GDP, Uni. of...
11 Feb 2021, 12:00 by Newsquawk Desk
- European bourses trade mixed as earnings take focus in the absence of fresh catalysts post-Powell
- US President Biden and Chinese President Xi spoke for the first time since Biden came into office
- US senior administration official said the US will examine new targeted restrictions on sensitive tech exports to China and will not act hastily to remove China tariffs
- European Commission forecasts the EU economy to reach the pre-crisis level of...
11 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac lacked firm direction as risk appetite was sapped by holiday closures for many key markets in the region and following an uninspired handover from the US
- Fed Chair Powell reiterated recent rhetoric and highlighted the labour market is a long-way from 'strong'; emphasising that we will probably see an increase in inflation readings that won't mean much
- President Biden and China's Xi spoke for the first time since Biden came into...
10 Feb 2021, 12:00 by Newsquawk Desk
- European bourses are contained with a slight positive bias while US futures post gains of circa 0.3%; earnings remain in focus but US CPI and Chair Powell dominate the schedule ahead
- The session has been devoid of fresh macro drivers with mass APAC closures commencing from tomorrow
- Chinese CPI and PPI missed estimates although still showed the first increase to producer prices in a year
- The DXY remains under pressure but saw some brief...
10 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity indices mostly traded with cautious gains as participants digested a heavy slate of corporate earnings
- Overnight saw a lack of fresh macro drivers ahead of mass holiday closures beginning tomorrow
- Chinese CPI and PPI missed estimates although still showed the first increase to producer prices in a year
- In FX, the DXY remained subdued below 90.50, EUR/USD maintains 1.21 status and GBP/USD trades on a 1.38...
09 Feb 2021, 11:50 by Newsquawk Desk
- European indices remain subdued (Euro Stoxx 50 -0.3%) differing somewhat from the APAC handover; energy was the initial outperformer given updates from Total and the broader crude complex, albeit this has experienced a recent pull-back
- Details of the US COVID stimulus plan revealed an extension of unemployment insurance to August 29th, as well as provide USD 1,400 checks at the same income level as prior rounds
- However, payments will start shrinking when income...
09 Feb 2021, 06:54 by Newsquawk Desk
- Asian equities were mostly positive after the stimulus-driven momentum on Wall St. which lifted all major US indices to fresh unprecedented levels
- In FX, the DXY extended its move below 91.00, EUR/USD ventured further above 1.2000 and GBP/USD traded at its best levels since 2018
- Details of the US COVID stimulus plan revealed an extension of unemployment insurance to August 29th, as well as provide USD 1,400 checks at the same income level as prior...
08 Feb 2021, 11:57 by Newsquawk Desk
- Equity futures remain in positive-territory, ES +0.3%, but off highs after a mixed/firmer APAC handover with focus on COVID-19 developments and the reflation narrative
- According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
- Treasury Secretary Yellen leaned back against concerns about stoking inflation pressures, arguing that the benefits...
08 Feb 2021, 09:00 by Newsquawk Desk
- MON: EZ Sentix Index (Feb)
- TUE: EIA STEO
- WED: Riksbank Policy Announcement; Banxico Policy Announcement; Chinese Inflation (Jan); US CPI (Jan); Norwegian CPI (Jan); US CPI (Jan)
- THU: CBR Policy Announcement; US University of Sentiment Prelim (Feb); OPEC Oil Market Report; Japanese National Day Holiday, Chinese Spring Festival, South Korea's New Year's Day
- FRI: UK GDP Estimate (Dec) and Prelim GDP (Q4); Hong...
08 Feb 2021, 09:00 by Newsquawk Desk
- SUN: Japanese GDP
- MON: Eurogroup meeting; US Holiday Washington's Birthday
- TUE: RBA Minutes (Feb); German ZEW Sentiment (Feb); EZ GDP Flash Estimate (Q4) and Employment Flash (Q4); Japanese Trade Balance (Jan)
- WED: FOMC Minutes (Jan); UK Inflation (Jan); US Retail Sales (Jan) and Industrial Production (Jan); Canadian CPI (Jan)
- THU: ECB Minutes (Jan); CBRT Policy Announcement; Australian Labour Market Report (Jan); EZ...
08 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mostly higher and US equity futures resumed last Friday’s advances on Wall St
- According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
- In FX, the DXY held on to 91.00 status, EUR/USD and GBP/USD trade on 1.20 and 1.37 handles respectively
- Senate voted to pass budget measures and fast-track...
05 Feb 2021, 11:50 by Newsquawk Desk
- European bourses have largely consolidated since the cash open (Euro Stoxx 50 +0.4%) with US futures posting similar gains aside from the outperforming Russell 2000 +0.4%
- US Senate has now formally passed the budget measures to adopt the fast-track Biden stimulus plan; VP Harris cast the tie-break vote
- USD remains under pressure but is off-lows with broader peers only eeking modest gains against the Buck
- Looking ahead, highlights include US...
05 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall St
- RBI kept rates unchanged as expected and retained an accommodative stance, which it will keep for as long as necessary
- In FX, the DXY has maintained yesterday's gains around 91.50, EUR/USD remains sub-1.20 and GBP held onto BoE gains
- Italy's PD Senate Chief expects Draghi has an 80-90% chance of forming a...
04 Feb 2021, 11:45 by Newsquawk Desk
- European equities trade mostly firmer (Eurostoxx 50 +0.3%) in what has been a busy morning of corporate updates across the region
- In FX, the DXY is once again firmer vs. peers as EUR/USD loses 1.20 status for the first time this year. GBP eyes BoE
- Fixed income remains rangebound with Gilts focused on NIRP developments from the BoE and the Periphery on Draghi's deliberations
- Looking ahead, highlights include BoE rate decision & MPR, US...
04 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mostly lower following a flat lead from the US where focus centred on earnings and stimulus plans
- 5SM's Di Maio said Italy needs an alternative to a Draghi government, while the Brothers of Italy party Chief favours abstaining
- In FX, the DXY extended on gains above 91.00, EUR/USD remains in the low 1.20's and GBP/USD hovers around 1.36
- President Biden is open to having the discussion on the income level of Americans...
03 Feb 2021, 12:18 by Newsquawk Desk
- European indices began the session on the front-foot, before consolidating off highs, Euro Stoxx 50 +0.7%, ES +0.4%; while the FTSE MIB & BTPs outperform on Draghi's potential Italian mandate
- Tech giants Google and Amazon saw earnings beat on top and bottom lines; with Google outperforming in the pre-market +7.0%
- President Biden Advisor speculates the final stimulus size could be USD 1.3trln, Politico
- The mornings UK/EZ PMIs saw modest...
03 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly higher as the region took impetus from global peers including the advances on Wall St
- Tech giants Google and Amazon saw earnings beat on top and bottom lines
- Oxford/AstraZeneca vaccine shows sustained protection of 76% during 3m interval until 2nd dose
- Talks over forming a new coalition in Italy have broken down, former ECB President Draghi could be appointed as a replacement PM
- In...
02 Feb 2021, 12:11 by Newsquawk Desk
- European indices are firmer following the positive APAC handover; sectors are broadly in the green though oil & gas is among the laggards as BP's update offsets much of the positivity from crude benchmarks themselves
- China top diplomat Yang said they are prepared to work with the US; separately, US Treasury Secretary Yellen is to meet with Democrats today on aid
- The DXY continues to make ground above 91.00 this morning pressuring major counterparts but...