• US futures are lower across the board though the magnitude is less extreme vs Europe, ES -0.6%, Euro Stoxx 50 -2.5%
• DXY has climbed to a fresh YTD peak, amid broad FX pressure ex-JPY which is supported on haven premium
• As such, core debt has continued to lift with accompanying yields retreating further; US curve flattening pre-supply
• Crude is pressured but off lows following the Russian Kremlin on Finland's NATO bid and N. Korea firing a...

• APAC stocks were pressured after the losses on Wall St where the major indices whipsawed in the aftermath of the firmer than expected US CPI data.
• European equity futures are indicative of a softer open with Eurostoxx 50 -2.3% after the cash market closed with gains of 2.6% yesterday.
• DXY traded indecisively around 104.00, antipodeans lag, USD/JPY is back below 130.00.
• The crypto collapse persisted with Bitcoin breaching the 27,000 level to...

• Stateside, futures are bolstered though with gains marginally more contained vs European-peers going into today's inflation data, ES +1.0%
• Greenback grounded in advance of US CPI as Treasury yields recede and curve re-flattens, DXY slips further below 104.00 and sub-103.50 vs fresh 2022 peak at 104.190 on Monday.
• As such, peers across the board are making gains vs USD; antipodeans leading on base-metals and CHF a relative outperformer after Tuesday's...

• APAC stocks traded mixed following the choppy performance on Wall Street.
• Ukrainian gas transit system operator chief said Russian occupying forces started taking transit gas and sending it to pro-Russian separatist regions.
• European equity futures are indicative of a higher open with Eurostoxx 50 +0.9% after the cash market closed with gains of 0.8% yesterday.
• DXY trades a touch softer after stalling ahead of 104.00, antipodeans lead in the...

• European equities feel some reprieve following the prior session’s selloff; Euro Stoxx 50 +1.2%; US futures similarly bolstered.
• USD retains a firm bid with peers mixed across the board; JPY outpaces while USD/CHF nears parity.
• Core debt continues to bounce after an early breather, action was intensified post-Bobl/Gilt supply.
• Crude benchmarks are pressured, but yet to approach overnight lows, with fundamentals focused on familiar...

• APAC stocks were mostly negative after the resumed sell-off on Wall St where the S&P 500 slipped beneath 4,000 for the first time since March 2021
• EU's Von Der Leyen tweeted that progress was made with Hungary but further work is needed.
• European equity futures are indicative of a marginally higher open with Eurostoxx 50 +0.2% after the cash market closed lower by 2.8% yesterday.
• DXY pulled back from YTD highs and the 104 level,...

• European bourses are lower across the board, Euro Stoxx 50 -1.4%, in a continuation of the APAC handover amid multiple fundamental narratives.
• Stateside, US futures are similarly hindered, ES -1.7%, with the NQ marginally lagging given renewed yield upside.
• Russian President Putin, in his Victory Day speech, says you are fighting for the security of Russia now; says NATO was creating threats at our borders.
• USD remains bid but is marginally...

• APAC stocks declined amid recent upside in yields and as participants digested a slowdown in Chinese trade data
• US equity futures remained weak; European equity futures are indicative of a softer open
• EU ambassadors met on Sunday and failed to agree on a Russian oil ban deal. Ambassadors will meet again on Monday or Tuesday
• In FX, DXY remained firm against G10s across the board; Antipodeans underperformed
• UK...

• MON: Chinese Trade Balance (Apr); EZ Sentix Index (May).
• TUE: Australian Retail Sales (Q1); German ZEW Survey (May); UK Prelim GDP (Q1); EIA STEO.
• WED: Chinese Inflation (Apr); UK GDP Estimate (Mar); US CPI (Apr).
• THU: Banxico; New Zealand Inflation Forecast (Q2); IEA OMR; OPEC MOMR.
• FRI: US Uni of Michigan Prelim Survey (May).

NOTE: Previews are listed in...

• European bourses are subdued across the board, Euro Stoxx 50 -1.1%, reacting to the late-doors pressure in Wall St.
• Currently, US futures are modestly softer but relatively tentative overall going into the NFP release and subsequent Fed speak.
• EUR bid post hawkish commentary from ECB's Villeroy amid multiple other Central Bank speakers
• As such, EGBs have dropped dragging USTs down with them sending respective 10yr yields to 1.08% and 3.07%...

• US stocks took a beating and gave back post-FOMC gains in which the DJIA slumped by more than 1000 points
• APAC stocks were mostly lower amid spillover selling from the sharp declines on Wall Street
• DXY held firm amid recent gains in yields and after the stock rout in the US spurred a flight to safety 
• EU's Borrell said EU members are almost there on an agreement on a new package of sanctions against...

• European bourses are firmer across the board, Euro Stoxx 50 +1.3%, benefitting from the perceived less-hawkish Fed and associated Wall St./APAC performance.
• Stateside, futures are softer across the board though the likes of the ES remain in relative proximity to overnight best levels, ES -0.5%.
• DXY finds its feet post-FOMC, to the detriment of G10 peers incl. GBP lagging pre-BoE.
• Core debt has been choppy though Bunds and Gilts have resumed...

• Fed hiked rates by 50bps as expected and will begin trimming its balance sheet on June 1st.
• Powell said 50bps increases should be on the table at the next couple of meetings and that a 75bps increase is not something they are actively considering.
• APAC stocks traded positively following the strong handover from Wall St.; SPX +2.97%.
• European equity futures are indicative of a stronger open with Eurostoxx 50 +2.4% after the cash market...

• European bourses, Euro Stoxx 50 -0.3%, are modestly softer after another subdued but limited APAC handover amid ongoing regional closures.
• US futures remain in tight pre-FOMC ranges, with participants also awaiting ISM Services and ADP.
• WTI and Brent are bid amid the EU's 6th round of Russian sanctions, a complete ban on Russian oil.
• However, sources indicate that Hungary and Slovakia will receive an extended phase-out...

• APAC stocks were cautious amid holiday closures and as markets braced for the incoming FOMC announcement.
• European equity futures are indicative of a marginally positive open with Eurostoxx 50 +0.1% after the cash market closed higher by 0.8% yesterday.
• DXY is contained around the 103.50 mark with FX markets largely uneventful overnight. 
• US Secretary of State Blinken is to outline his China policy on Thursday at...

• European bourses are firmer across the board, Euro Stoxx 50 +0.6%, following late-door Wall St. upside; though, the FTSE 100 -0.5% lags as it catches up from Monday's holiday.
• Stateside, futures are modestly firmer/flat on the session but have been rangebound throughout the European morning
• DXY struggles to gain firm direction as global yields err higher with EUR & GBP bolstered on their yield movements
• AUD outperforms following an...

• APAC stocks were unable to benefit from the late rally on Wall St. and traded mixed amid key market closures.
• RBA hiked rates by 25bps to 0.35% (exp. 15bps hike). RBA said it will require a further lift in interest rates during the period ahead.
• European equity futures are indicative of a firmer open with Eurostoxx 50 +1.2% after the cash market closed lower by 1.8% yesterday.
• DXY is relatively flat vs. peers, AUD the clear...

• European bourses are lower across the board, Euro Stoxx 50 -1.60%, following a subdued APAC handover amid holiday-thinned conditions, soft data and COVID concerns.
• German Final Manufacturing PMI; "The survey's output index is now in contraction territory for the first time since the initial COVID shutdowns in the first half of 2020, with a similar situation for new orders".
• USD remains bid but has slipped from best levels and is yet to test last week's best for the...

• APAC stocks declined amid mass holiday closures, weak Chinese PMIs and upcoming key risk events.
• Germany could end its dependence on Russian oil by the end of summer, according to reports.
• European equity futures are indicative of a weaker open with Eurostoxx 50 -1.3% after the cash market closed higher by 0.7% on Friday.
• DXY heads into the EU open on a firmer footing with NZD and JPY leading losses vs. the...

• SUN: Chinese Labour Day Holiday (May 1-4).
• MON: German Industrial Orders (Mar) and Retail Sales (Mar); EZ, and US Final Manufacturing PMIs (Apr); US ISM Manufacturing PMI (Apr); UK Bank Holiday; Japanese Holiday.
• TUE: RBA Announcement; South Korean CPI; German Unemployment (Apr); EZ Producer Prices (Mar); US Durable Goods (Mar); UK Final Manufacturing PMI (Apr); New Zealand Jobs Report; Eurogroup Meeting; Japanese Holiday.
• WED: FOMC...

• European equities remain on the front foot on the last trading day of the month
• State-side futures were dented overnight amid after-hours losses in Amazon and Apple
• Dollar bulls book profits into month end and DXY pulls back further from near 104.000 peak
• CBR opted for a bigger-than-forecast 300bp rate cut, and Kremlin said it is mulling Gold peg
• Looking ahead, highlights include US March PCE, US Chicago PMI,...

• APAC stocks gained after the firm lead from the US but with advances in the region capped by disappointing earnings from Amazon and Apple.
• European equity futures are indicative of a higher open with Eurostoxx 50 +1.5% after the cash market closed higher by 1.1% yesterday.
• DXY has pulled back from recent advances but retains 103 status, activity currencies outperform G10 peers.
• Crude futures held on to yesterday's gains after Germany...

• Equities in Europe continue to gain heading into month-end, with overall sentiment across stocks bolstered
• US equity futures are firmer across the board, with the NQ clearly outpacing its peers; Meta +17% pre-market
• BoJ maintained policy settings and forward guidance, will conduct fixed-rate JGB buying operations on every working day
• EU energy groups are reportedly preparing to meet Russian President Putin's terms for gas, according to...

• APAC stocks were higher across the board amid a slew of earnings updates and a dovish BoJ; US futs were supported by Meta (+18.3% after-hours).
• BoJ maintained policy settings and forward guidance, will conduct fixed-rate JGB buying operations on every working day.
• Russia is planning referendums on the official accession of the Donbas region in mid-May.
• European equity futures are indicative of a higher open with Eurostoxx 50 +0.6% after...

• European bourses recovered from the losses seen at the cash open, with the region currently posting board-based gains
• US equity futures see slightly more pronounced gains vs Europe following yesterday’s hefty losses
• Greenback continues to grind higher in its guise of global reserve and prime safe haven with DXY inching closer to 103.000
• Russia's Gazprom has halted gas supplies to Bulgaria and Poland due to lack of payment in...