14 Sep 2020, 11:40 by Newsquawk Desk
- Early gains in European equities fizzled out whilst US equity futures hold onto gains
- US Ambassador to China abruptly stepped down, with a replacement unlikely before US elections according to sources
- AstraZeneca (AZN LN) and the University of Oxford have resumed their coronavirus vaccine trial
- ByteDance reportedly picked Oracle as the winning bidder for its TikTok operations in US; latest sources said ByteDance will not sell to either...
14 Sep 2020, 09:30 by Newsquawk Desk
- MON: EU/China Meeting; Japanese LDP Leadership Vote; EZ Industrial Production; Indian Trade Balance; OPEC MOMR
- TUE: RBA Minutes, Norges Bank Regional Network Report; Chinese Retail Sales; UK Labour Market Report; German ZEW Survey; US Industrial Production; IEA MOMR
- WED: FOMC Monetary Policy Decision; UK Inflation; US Retail Sales; Canadian CPI; New Zealand GDP
- THU: BoE, BoJ, SARB Monetary Policy Decision; RBA Bulletin; Australian Labour...
14 Sep 2020, 06:55 by Newsquawk Desk
- Asian equity markets were positive across the board and US equity futures also began the week on the front foot
- AstraZeneca (AZN LN) and the University of Oxford have resumed their coronavirus vaccine trial
- ByteDance reportedly picked Oracle as the winning bidder for its TikTok operations in US
- UK senior Tories are refusing to back down on their revolt against PM Johnson regarding the Internal Market Bill
- The DXY was marginally softer overnight, allowing EUR/USD to test 1.1850 to the upside...
11 Sep 2020, 11:30 by Newsquawk Desk
- European equities are modestly subdued unable to follow the largely positive APAC handover, while US futures are firmer but off highs
- UK PM Johnson is facing a revolt by as many as 30 Tory MPs over the Internal Markets bill; to address Party at 17:30BST/12:30ET
- President Trump refuted reports he is to extend the TikTok deadline
- FX sees the USD softer weighed on by antipodeans & EUR with the latter bolstered via EUR/GBP action
- Looking ahead, highlights include UK GDP, US CPI, ECB's...
11 Sep 2020, 06:54 by Newsquawk Desk
- Asian equity markets trade mixed as the region partially shrugged-off the weak performance stateside where all major indices declined amid selling in tech and energy
- UK PM Johnson is facing a revolt by as many as 30 Tory MPs over the Internal Markets bill
- ECB policymakers agreed to look through euro strength at the September meeting and judged the currency broadly in line with economic fundamentals, according to sources
- DXY is mildly softer following yesterday’s gains, EUR/USD stabilised on a...
10 Sep 2020, 11:45 by Newsquawk Desk
- Trade has been tepid with European equities roughly U/C at present as focus turns firmly to the ECB decision
- FX sees the DXY modestly softer but holding above 93.00 while the EUR is a touch firmer
- EU is reportedly mulling legal action against the UK for its attempt to override parts of the Withdrawal Agreement
- BoJ is expected to offer a more upbeat view on the economy, output and exports than that presented in July at its upcoming...
10 Sep 2020, 06:56 by Newsquawk Desk
- Asia-Pac bourses were mostly positive after taking advantage of the constructive handover from the US where tech staged a rebound
- The EU is reportedly mulling legal action against the UK for its attempt to override parts of the Withdrawal Agreement
- The DXY was lacklustre following the prior day’s weakness, EUR/USD trades above 1.18 on ECB day whilst GBP/USD remains sub-1.30
- Saudi Arabia reportedly plans to keep oil production steady despite a recent slump in prices, according to the...
09 Sep 2020, 11:45 by Newsquawk Desk
- Sentiment has stabilised and mounted a recovery as APAC/AstraZeneca pressure abated; Nasdaq future outperforms +2.0%
- AstraZeneca (AZN LN) vaccine trials with the University of Oxford have reportedly been placed on hold due to an adverse reaction in a UK participant
- NIH Fauci said Moderna and Pfizer/BioNTech COVID vaccine trials are expected to be enrolled by the end of September
- FX sees the USD firmer and GBP lagging once again ahead of the Internal Market Bill publication while CAD has pared losses...
09 Sep 2020, 06:54 by Newsquawk Desk
- Asian equity markets were lower across the board amid strong headwinds from Wall St where the tech rout intensified on return from the long weekend
- AstraZeneca’s COVID-19 vaccine trial with the University of Oxford has reportedly been placed on hold due to an adverse reaction in a UK participant
- Senior UK Sky News sources believe UK Chief Brexit Negotiator Frost has concluded that a deal with the EU is not achievable without fundamentally compromising UK red...
08 Sep 2020, 11:45 by Newsquawk Desk
- Sentiment has slipped as US participants return following a positive APAC handover; Nasdaq 100 future 2.5% lower and once again the laggard
- USD benefits from the deterioration in sentiment to the detriment of all major peers with GBP feeling the brunt after yesterday’s slide following further downbeat Brexit reports
- Indian and Chinese troops are in a stand-off at a location near North of Rezangla heights in Eastern Ladakh, 30-40 soldiers reportedly involved from the...
08 Sep 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly positive, following the upbeat performance in EU counterparts
- Gains in the region were moderated after US President Trump suggested the idea of decoupling the US economy from China
- UK PM Johnson is to reportedly tell the EU that the Brexit deal must be rewritten in order to protect the Union, according to The Telegraph
- In FX, the DXY held on to mild gains above 93.00, EUR/USD briefly slipped below 1.18 and GBP remains pressured by Brexit concerns
- Looking...
07 Sep 2020, 06:56 by Newsquawk Desk
- Asian equity markets began the week indecisively as the region reflected on Friday’s US jobs release and continued tech-related losses on Wall St
- Mixed Chinese trade data and ongoing tensions with the US added to the cautious approach
- The DXY heads into the EU open relatively flat below 93.00; GBP pressured by the latest Brexit updates
- UK PM Johnson has set a trade deal deadline for October 15th and is reportedly planning new legislation that would override key aspects of the withdrawal...
04 Sep 2020, 11:46 by Newsquawk Desk
- Sentiment has picked up since the European cash open; Banking sector outperforms
- US equity futures have mostly nursed losses, NQ remains the underperformer
- US Treasury Secretary Mnuchin and House Speaker Pelosi reportedly plan to keep stimulus additions out of the funding bill to make the bill easier to pass
- BoE's Saunders considers it likely that additional monetary easing will be appropriate to achieve a sustained return to the 2% inflation target
- US curve is bear steepening; DXY remains...
04 Sep 2020, 06:54 by Newsquawk Desk
- APAC stocks took the downbeat lead from Wall Street, which saw the Nasdaq shed over 5% amid the stock rout
- White House Chief of Staff Meadows said they are eyeing a number of other Chinese apps regarding threats
- UK Chancellor Sunak was warned that rebels in the UK Conservative Party will vote against the Autumn budget if the government proceeds with tax increases
- NATO Secretary General announced Greece and Turkey have agreed to enter talks...
03 Sep 2020, 11:42 by Newsquawk Desk
- European stocks remain in firm positive territory, but US equity futures diverge from counterparts across the pond
- US Senate Majority Leader McConnell suggested doubts on whether Congress can get an agreement of a COVID-19 relief bill when Congress returns to Washington from the recess
- Top ECB officials are said to be concerned of a strengthening EUR; a council member said the EUR rise will likely require the ECB to further cut inflation projections next week
- White House is reportedly to clarify the...
03 Sep 2020, 06:55 by Newsquawk Desk
- APAC stock markets traded mostly higher after a firm lead from Wall Street; but gains in China faded
- Top ECB officials are said to be concerned of a strengthening EUR; a council member said the EUR rise will likely require the ECB to further cut inflation projections next week
- European Centre for Disease Prevention and Control said COVID-19 infections in Europe are "almost back" to March levels
- NIH’s Dr Fauci said based on COVID-19 vaccine...
02 Sep 2020, 11:45 by Newsquawk Desk
- European bourses are elevated this morning shaking off the mixed APAC handover and taking direction from Wall St.
- US Secretary of State Pompeo said to expect an administration announcement in the coming days or weeks on China
- US House Speaker Pelosi’s office that there was no agreement on areas of funding Treasury Secretary Mnuchin testified about
- FX sees the USD firmer but within a relatively narrow range to the detriment of major peers with EUR downside exacerbated via EUR/GBP
- Looking...
02 Sep 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mixed as the region partially sustained the momentum from the fresh record highs on Wall St.
- In FX markets, the DXY has reclaimed 92.00, EUR/USD sits just above 1.19 and GBP/USD trades just below 1.34
- ECB’s Lane says the ECB does not target the FX rate but the EUR/USD rate does matter
- Fed's Brainard suggested the importance is for Fed policy to pivot to accommodation from stabilisation in the coming months
- Looking ahead, highlights include US ADP Employment, Factory...
01 Sep 2020, 11:50 by Newsquawk Desk
- Stocks have been modestly choppy but generally rangebound throughout the morning; currently, US futures are firmer with Nasdaq outperformance
- China’s Caixin Manufacturing PMI beat & EZ CPI dropped into negative territory
- US Treasury Secretary Mnuchin said House Speaker Pelosi and Senate Minority Leader Schumer do not want to negotiate in good faith regarding COVID-19 relief legislation
- RBA left policy U/C overnight and reiterated forward...
01 Sep 2020, 06:54 by Newsquawk Desk
- Asian equities traded cautiously as the region took its cue from the losses seen across most global counterparts
- Chinese Caixin Manufacturing PMI (Aug) 53.1 vs. Exp. 52.6 (Prev. 52.8); highest since January 2011
- USD-selling persisted in Asia trade in which the DXY retreated below 92.00 to extend on 2-year lows
- RBA left the Cash Rate Target unchanged at 0.25% and the 3yr yield target at 25bps as expected
- EU Chief Brexit Negotiator Barnier is unwilling to open discussions on Britain’s latest...
31 Aug 2020, 12:03 by Newsquawk Desk
- European bourses are modestly firmer but off highs as month-end approaches
- DXY is attempting to stage a recovery as FX peers remain mixed amidst the UK Summer Bank Holiday
- US FDA Commissioner Hahn commented that he is willing to fast track a vaccine for COVID-19
- Chinese PLA troops reportedly violated previous consensus achieved between China & India and undertook a provocative military movement
- Chinese PMIs were mixed but all remained in expansionary territory for August
- Looking...
31 Aug 2020, 09:30 by Newsquawk Desk
- MON: UK Holiday; Japanese Industrial Operating Profit (Prelim/July), Chinese NBS Manufacturing & Non-Manufacturing PMI (Aug), Japanese Consumer Confidence Index (Aug), German CPI (Prelim/Aug), Import Prices (July), Canadian Producer Prices (July), US Dallas Fed Manufacturing Business Index (Aug), New Zealand Import/Export Prices (Q2)
- TUE: RBA Monetary Policy Decision; South Korea GDP (Q2/R); Chinese Caixin Manufacturing PMI (Aug/F); EZ, UK and US Markit Manufacturing PMI...
31 Aug 2020, 06:53 by Newsquawk Desk
- Asian equity markets were mostly higher amid tailwinds from last Friday’s gains on Wall St; Japan outperformed
- ByteDance will need the Chinese government’s approval to sell TikTok’s US operations
- US is to declassify documents today which will provide detail regarding security assurances to Taiwan
- UK is reportedly prepared to walk away from Brexit trade discussions if the EU does not back down on its demand for UK to align with EU state aid...
28 Aug 2020, 11:58 by Newsquawk Desk
- Japanese PM Abe announced a surprise resignation due to ill health; will remain as PM until successor is announced
- European equities see mixed trade, with futures modestly softer, whilst E-mini S&P briefly topped 3,500
- USD/JPY fell in wake of news of PM Abe’s resignation; DXY losses accelerated amid JPY strength bolstering major peers
- Bytedance instructed TikTok engineers to draw up US shutdown contingencies and that it is making separate plans to compensate TikTok's US employees and vendors...
28 Aug 2020, 06:56 by Newsquawk Desk
- Japanese PM Abe is reportedly planning to resign due to health reasons, according to NHK; press conference scheduled for 09:00BST
- Asian bourses eventually traded mixed; E-mini S&P rose above 3,500, Nikkei 225 briefly fell as much as 2.5%
- USD/JPY fell in wake of news of PM Abe’s resignation; DXY losses accelerated amid JPY strength
- China’s military said a US warship has been expelled near the Paracel Islands in the South China...