Newsquawk

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  • Asian equity markets traded mostly lower following a mixed Wall Street handover, US equity and DAX futures trade with heavy losses heading into the European open
  • US President Trump said we are ready to adapt and do whatever to tackle the virus outbreak, VP Pence was put in charge of the virus task force
  • First US coronavirus case of unknown origin confirmed in North California; CDC said it could be the first instance of “community spread”
  • Microsoft (MSFT) became the latest company to cut guidance due...
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  • European bourses are negative at present, but well-off session lows which saw Dax March’20 future drop 400 points at worst
  • WTI and Brent tested USD 49/bbl and USD 54/bbl on the EU morning sell-off; though selling has stabilised somewhat ahead of the US’ entrance
  • First coronavirus related deaths have been reported in France, as well as the first cases in Poland, Greece and Brazil
  • EU's Chief Trade Negotiator Hogan said he hopes to broker with the US a "mini-deal" before US increases tariffs on the...
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  • Asian equities traded mostly lower after another bleak session on Wall Street, ASX 200 lagged and Mainland China outperformed
  • South Korea reported 169 more cases of new coronavirus thus far; total number of cases topped 1000
  • Source reports noted of some discussions in the White House about whether to declare a national emergency; San Francisco Mayor has declared a state of emergency
  • Hong Kong government unveiled measures worth HKD 120bln in...
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  • Sentiment remains subdued after a brief reprieve was insufficient to flip the narrative away from risk-off
  • South Korea total cases now at 977 and a 10th coronavirus-related death reported; cases in Italy have increased as well as cases now being reported in Spain
  • WHO spokesman says they do not have plans for a 'big announcement', many countries have pandemic plans ready and some may act depending on their situation
  • US Trump Administration is sending Congress a budget request for USD 2.5bln to tackle...
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  • Asian stocks traded mixed following a detrimental session on Wall Street; KOSPI outperformed, Nikkei 225 fell 4.5% on its return from its extended weekend
  • South Korea reported 60 more cases of new coronavirus thus far, total at 893 and death toll at 9; the country is to draft supplementary budget as soon as possible
  • US Trump Administration is sending Congress a budget request for USD 2.5bln to tackle the virus outbreak, House Speaker Pelosi deemed it inadequate
  • FX markets were quiet with DXY softer,...
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  • Mass FTQ as the coronavirus spreads substantially into Italy, South Korea and Iran
  • Italy reported that the total number of cases rose to 152, with a fifth confirmed death
  • South Korea reported over 200 new case which brings the current total to 833, with seven deaths also confirmed as of February 23
  • China has postponed its parliamentary annual meeting, according to CCTV
  • European bourses, and US futures are firmly into negative territory with Italian assets amongst those worst hit
  • USD...
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  • Major Asian indices traded lower across the board amid cases spikes outside China; KOSPI lagged, Shenzhen outperformed; Japan was closed – US equity, DAX and Eurostoxx 50 futures opened with steep losses
  • In FX, DXY traded on either side of 99.500, Antipodeans were pressured, EUR was weighed on, KRW saw further weakness
  • WTI and Brent futures posted losses of over 2.5% each, spot gold eclipsed 1680/oz at the open vs. Friday’s sub-1650/oz...
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  • Sentiment remains subdued after yesterday’s sell-off; USD softens as GBP and JPY strengthen
  • China's Politburo says the turning point of the virus outbreak in China has not arrived yet, State Media
  • South Korea has reported 48 more cases of novel coronavirus, total rises to 204, according to Yonhap
  • Libyan Commander Haftar has told Russian press he is ready for a Libyan ceasefire if some conditions are met
  • Saudi Air Defence has intercepted and destroyed several ballistic missiles fired at the...
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  • Asian equities traded with downside bias after a weak handover from Wall Street, Hang Seng and KOSPI lagged
  • China reported an additional 889 (Prev. 394) coronavirus cases and 118 (Prev. 114) additional deaths as of February 20
  • South Korea’s virus case count rose to 156; two evacuees from the Diamond Princess cruise have tested positive for coronavirus since landing
  • Chinese Commerce Ministry is speeding up the study of new measures to provide further support for companies
  • In FX, DXY was flat,...
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  • USD remains king as 100 comes into focus for the DXY as it outperforms G10 peers, particularly JPY/AUD/NZD
  • European bourses have traded largely directionless for the session, as focus remains on geopolitics/virus headline risk
  • Concerns mount over the spread of coronavirus outside of China, namely Japan and South Korea
  • Chinese PBoC LPR Rate 1yr 4.05% vs Exp. 4.05% (Prev. 4.15%); 5yr 4.75% (Prev. 4.80%)
  • Turkey and Russia are in talks regarding joint patrols around Idlib, Syria
  • Looking...
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  • European bourses are modestly firmer, with gains roughly in-line with their APAC peers
  • Turkish President Erdogan says he is presenting his final warning to the Syrian government regarding Idlib and says that a military operation is a "matter of time”
  • GBP was briefly bolstered on strong UK CPI, with the DXY modestly firmer overall largely on a soft JPY
  • Boeing are to inspect undelivered 737 Max craft for foreign objects after debris found in undelivered craft
  • Looking ahead, highlights include...
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  • China’s Mainland reported total cases 74185 vs. Prev. 72436, total deaths 2004 vs. Prev. 1789
  • Asian equities traded with cautious gains; Nikkei 225 outperformed, Mainland China was supported by stimulus hopes
  • In FX, DXY remained near recent highs, USD/JPY reclaimed 110.00, EUR and GBP traded sideways
  • Yuan saw weakness as PBoC set USD/CNY mid-point above 7.000, the weakest fix since Dec 25th, 2019
  • Libya’s government...
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  • European bourses are softer this morning in-line with the knock to risk-tone post AAPL revenue warning
  • Apple (AAPL) issued a revenue warning in which it does not expect to meet revenue guidance for the March quarter citing the coronavirus outbreak
  • China's President Xi says that China is still able to meet the 2020 economic targets, in-spite of the impact of the coronavirus
  • EZ Finance Minister, including German Finance Minister Scholz, have adopted a recommendation for a fiscal boost in the event of...
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  • China reported an additional 1868 coronavirus cases and 98 additional deaths, 1701 patients were discharged
  • Apple (AAPL) issued a profit warning and does not expect to meet revenue guidance for Q1 amid the coronavirus outbreak
  • RBA Minutes largely echoed the statement but also highlighted that Coronavirus is a “material” risk to the Chinese economy and hence Australia
  • Asian equities traded lower across the board whilst US equity futures gapped lower at the open
  • In FX, DXY and JPY remained...
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  • APAC stocks traded mixed: China was buoyed by the PBoC, Nikkei 225 lagged on dismal domestic GDP
  • Total Mainland coronavirus cases are now at 70548 and death toll at 1770, whilst 1425 were discharged from hospital on Sunday
  • China cuts its 1yr MLF by 10bps to 3.15%, 1ppts below the 1yr LPR which is to be announced on Thursday
  • The Trump Administration said it would increase tariffs on EU aircrafts to 15% from 10% beginning March...
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  • European bourses are little changed in largely directionless trade
  • Crude futures are bolstered somewhat heading into a long US weekend
  • G10 FX complex is flat, with the DXY little changed as a result
  • EZ GDP printed as expected after flat QQ German numbers, while EZ employment surprised to the upside
  • Looking ahead, highlights include US Import & Export Prices, Retail Sales, Industrial Production and Manufacturing Output, Business Inventories, University of Michigan Sentiment (Prelim),...
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  • Asian equity markets were mostly higher following the near recovery seen on Wall St
  • China's Hubei province reported 4823 new coronavirus cases and 116 additional deaths as of February 13th
  • China is reportedly considering postponing its annual parliamentary meeting (scheduled for March 5th)
  • US filed a superseding indictment on Huawei which includes a new racketeering conspiracy count and accused the company of trade theft
  • NY Fed Cut O/N Repo Operations limit to USD 100bln (prev. 120bln); cuts...
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  • China's Hubei province reported 14840 new coronavirus cases under revised standards – the methodology has not changed outside Hubei
  • European stocks trade with losses across the board [Eurostoxx 50 -1.4%], FTSE 100 underperforms
  • Risk aversion sees safe-haven FX bid, DXY is softer below 99.000 and energy futures decline
  • Looking ahead, highlights include US CPI & Initial Jobless Claims, Banxico Rate Decision, Fed’s Williams, ECB’s Lane...
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  • China's Hubei province reported 14840 new coronavirus cases under revised standards and 242 additional deaths as of February 12th
  • Asian equity markets traded cautiously as the euphoria from the record highs on Wall St were soured by the latest updates from Hubei
  • DXY stalled after printing fresh 3-month highs above the 99.00 level where it met resistance to provide some much-needed reprieve for EUR/USD
  • US Treasury Secretary Mnuchin stated that the implementation of the mini-trade deal with China has...
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  • European bourses are firmer on little direction-changing newsflow for risk sentiment thus far
  • New Hampshire Democratic Primary results projected Bernie Sanders to win as expected with 26.0%, Buttigieg 24.4%, Klobuchar 19.8%, Warren 9.3% and Biden 8.4%
  • RBNZ left rates unchanged at 1.0% and lifted their rate path, as such the NZD significantly outperforms
  • Riksbank left rates unchanged at 0.0% and cut 2020 CPIF projections; albeit, Governor...
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  • Asian equity markets were mostly higher but with gains limited as coronavirus fears lingered
  • China reported an additional 2015 coronavirus cases and 97 deaths as of February 11th to bring total confirmed cases to 44653 and death toll at 1113
  • RBNZ stood pat on rates as expected, whilst adopting an overall neutral tone
  • EIA lowered its forecast for world oil demand growth for this year but increased its estimate for 2021 and reduced its forecast for US crude output growth
  • Looking ahead,...
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  • European bourses are firmer as sentiment remains risk-on following the APAC handover
  • Coronavirus outbreak may peak later this month and then plateau, China Advisor Nanshan
  • Russian Energy Minister Novak says they will hold a meeting tomorrow with domestic oil producers to discuss the OPEC+ deal
  • The ECB could make a decision on whether to change its inflation goal by the Summer, in what is being described as a “rushed agenda”
  • In FX, the DXY is softer this morning weighed on by activity...
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  • Asian equity markets were higher across the board after taking the cue from US peers
  • China reported 2478 new coronavirus cases and 108 new deaths as of Feb. 10th
  • The ECB could announce a decision on whether to change its inflation goal by the Summer
  • Fed's Daly said inflation a bit above target is 'far better' than a bit below
  • Looking ahead, highlights include UK GDP (Q4 Prelim & Dec), Industrial and Manufacturing Output, US New Hampshire Democratic Primary, Fed’s Powell, Quarles,...
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  • European bourses are subdued but have been bolstered, alongside sentiment in general, by comments out of China regarding coronavirus medicine provisions
  • Chinese President Xi says China will adopt more decisive measures to contain the spread of the virus in the Hubei province, and will be speeding up development of clinically effective drugs
  • Chinese Commerce Ministry says there is no reason to adopt intervention polices on international trade amid the coronavirus...
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  • Asia-Pac stocks began the week with a sombre tone as the death toll for the Coronavirus has now surpassed that of SARS
  • China’s total confirmed cases now stands at 40171 and total deaths at 908 as of February 9th
  • Russian Energy Minister Novak stated that Russia is not yet prepared to announce its position on OPEC+ actions
  • UK Foreign Minister Raab said a Singapore deal will be one of the first wave of free trade agreements and wants a deal...
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