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  • European equities trade with no firm direction as bourses are dictated by a slew of large cap EU earnings
  • DXY is flat while EUR hovers above YTD lows awaiting the ECB (full preview available in the Research Suite)
  • Looking ahead, highlights include CBRT and ECB Rate Decisions, US Durable Goods and Initial Claims, Canadian Average Weekly Earnings, ECB President Draghi
  • Earnings: Amazon, Alphabet, Bristol-Myers Squibb, Hershey, Southwest...
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  • Asian equity markets mostly traded with cautious gains after a similar performance on Wall St and ahead of upcoming key risk events
  • UK PM Johnson launched a huge overhaul of his cabinet yesterday, appointing prominent Brexiteers to key roles
  • In FX markets, price action was predominantly uneventful across the major pairs amid a lack of tier-1 data and as the DXY continued its range-bound path
  • Looking ahead, highlights include CBRT and ECB Rate Decisions, German Ifo, US Durable Goods and Initial...
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  • European stocks are marginally lower, FTSE 100 lags as miners slide
  • EUR pressured and Bunds spiked amid downbeat EZ flash PMIs, DXY extends gains above 97.500
  • US DoJ is reportedly opening broad antitrust review on large tech firms
  • Looking ahead, highlights include US Flash PMIs, DoEs and US 5yr Note Auction
  • Earnings: Boeing, American Airlines, Allergan, Facebook, Ford, AT&T, Align Technology, Alexion...
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  • Asian equities were supported by reports that USTR Lighthizer will lead a small team of negotiators to China next Monday for trade discussions
  • US Commerce Secretary Ross said he will deal with Huawei waiver applications within the next few weeks
  • PM-elect Johnson will begin assembling a majority Brexiteer Cabinet today as he aims to get Britain ready to leave the EU by October 31st
  • Looking ahead, highlights include EZ and US Flash PMIs, DoEs and US 5yr Note Auction
  • Earnings: Boeing, American...
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  • European stocks are higher across the board [Eurostoxx 50 +1.0%], material and tech sectors outperform
  • DXY inches closer to July highs while GBP awaits the new PM announcement
  • Looking ahead, highlights include, US Existing Home Sales, US API Crude Stocks, NZ Trade Balance, Hungarian Rate Decision, BoE’s Haldane, supply from the US
  • Earnings: Lockheed Martin, AMD, Biogen, Chubb, Discover Financial, Hasbro, Harley-Davidson, Kimberly Clark,...
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  • Asian equity markets were mostly higher as the region took its cue from gains on Wall St, where all major indices closed higher
  • UK new PM announcement due between 1100-1200BST today, in which a win by hardliner Brexiteer Boris Johnson is seen as a forgone conclusion
  • White House confirmed US President Trump met with CEO's of large tech firms regarding Huawei and 5G technology
  • Looking ahead, highlights include, US Existing Home Sales, US API...
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  • WTI and Brent futures extend on gains as tensions rise in the Strait of Hormuz
  • Major European indices are relatively flat [Eurostoxx 50 +0.1%], energy sector outperforms on price action in crude markets
  • DXY has consolidated recovery gains above the 97.000 handle, NZD, CAD and AUD outperform
  • Looking ahead, highlights include US National Activity Index, BoJ’s Kuroda

ASIA-PAC

Asian equity...

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  • Asian equity markets traded mostly lower with the region cautious amid dampened hopes for a more aggressive Fed rate cut and geopolitical concerns
  • Fed officials reportedly could suggest potential for additional stimulus beyond July and signal a 25bp cut is likely at the July meeting
  • IRGC said it seized a UK tanker which has been taken to a coastal area and turned over to the maritime authorities to carry out the necessary legal steps
  • EU...
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  • European equities are mostly lower [Eurostoxx 50 -0.2%] as Fed fuelled momentum wanes
  • New York Fed stated that the comments made by Fed's Williams were academic, based on research and not about potential policy actions at the upcoming FOMC meeting
  • Italy underperforms on domestic political angst, FTSE MIB and BTPs lower
  • Looking ahead, highlights include, Canadian Retail Sales, University of Michigan Sentiment (Prelim), Baker Hughes Rig Count,...
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  • Asian equity markets were positive across the board as the region took its cue from the late gains in US following dovish comments from Fed's Williams
  • However, these were later clarified as academic comments and not about potential policy action this month
  • The US shot down an Iranian drone which was said to have approached to within a threatening distance of the USS Boxer
  • Looking ahead, highlights include UK PSNB, Canadian Retail Sales,...
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  • European stocks initially slipped as tech names succumbed to SAP’s decline, SMI buoyed by heavyweight pharma names
  • In FX markets, DXY weakens towards 97.00, GBP is bolstered by retail sales and AUD feels support from labour market data, EUR declined on ECB sources
  • Looking ahead, highlights include, SARB Rate Decision, Fed’s Williams & Bostic
  • Earnings: Microsoft, Union Pacific, Morgan Stanley, Phillip...
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  • Asian equity markets traded negatively as the risk-averse tone rolled over from Wall St where all major indices declined for a 2nd consecutive day
  • US-China trade talks reportedly stalled as the Trump administration determines how to address Beijing’s demands of easing restrictions on Huawei
  • BoK cut the 7-Day Repo Rate by 25bps to 1.50% vs. Exp. unchanged
  • UK House of Lords backed an attempt to prevent the next Prime Minister from shutting down Parliament in order to force a no-deal...
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  • European bourses have continued the largely lacklustre trend from the US session
  • China recently appointed hawkish Zhong Shan to the negotiations team, seen as an indication that China are in no rush to wrap up US-China discussions
  • US & Japan are reportedly considering a trade agreement by September; may involve auto’s and agriculture
  • Data: Canadian CPI, US Building Permits & Housing Starts
  • Earnings: Netflix, eBay, IBM, Abbott Laboratories, Bank of...
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  • Asian equity markets traded mostly lower as the region followed suit from the lacklustre performance on Wall St
  • US President Trump suggested there is a long way to go regarding trade with China and that the US can put tariffs on another USD 325bln of goods if it wants
  • US Secretary of State Pompeo stated that Iran has said it is prepared to negotiate about its missile program; Iran later refuted this
  • UK PM candidate Boris Johnson is...
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  • European indices are largely flat [Euro Stoxx 50 +0.1%] as US earnings season gets underway
  • China’s Foreign Ministry says it is misleading to suggest China requires a US trade deal as the economy is slowing
  • Looking ahead, highlights include, US Import/Export Prices, Retail Sales, Industrial Production, Manufacturing Output & Business Inventories, EC President Voting, Fed Discount Rate Minutes
  • Speakers: Fed’s Powell, Evans, Bowman, Bostic & Kaplan, BoE’s Carney
  • Earnings: JP Morgan,...
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  • Asian equity markets were mixed with the region indecisive following modest gains on Wall St
  • US Treasury Secretary Mnuchin has stated that he and USTR Lighthizer could visit China for further talks if progress is made
  • EU is reportedly mulling potential concessions it could offer to avoid a no-deal Brexit
  • Looking ahead, highlights include UK Jobs, German ZEW US Import/Export Prices, Retail Sales, Industrial Production, Manufacturing Output & Business Inventories, EC President Voting, Fed Discount...
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ASIA-PAC

Asian equity markets traded mixed as the region digested a slew of tier-1 Chinese data and with the absence of Japanese participants adding to the initial lull. ASX 200 (-0.6%)was negative with the downside led by underperformance in tech and telecoms, while financials also weighed on the index with AMP Capital shares down around 15% after it noted the unlikelihood it will proceed with its life insurance unit sale due to opposition by the RBNZ. Conversely, Hang Seng...

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  • Asian equity markets traded mixed as the region digested a slew of tier-1 Chinese data and with the absence of Japanese participants adding to the initial lull
  • Chinese data proved to be mostly better than forecast, although showed China’s economic growth slipped to 6.2% Y/Y as expected
  • DXY was relatively stable with marginal gains seen as it briefly attempted to nurse some of last week’s losses, while price action for its major counterparts was...
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  • European indices [Euro Stoxx 50 +0.2%] are little changed from their opening levels, with Stoxx price action initially dictated by Daimler’s profit warning
  • Dollar is still somewhat softer to the benefit of G10 counterparts and bonds continue to slump
  • US decided not to impose sanctions on Iran Foreign Minister Zarif for now, according to sources.
  • US President Trump has declared a state of emergency in Louisiana and the NHC believe Barry may become a hurricane tonight/Saturday morning
  • Looking...
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  • Asian equity markets were somewhat cautious as the region awaited the latest Chinese trade data and following a mixed performance on Wall St
  • Senior US administration officials agreed that China violated sanctions by importing Iranian oil last month and are now mulling secondary sanctions
  • The greenback was slightly softer overnight as the momentum from the prior day’s firmer than expected US CPI petered out
  • US Gulf of Mexico crude oil production has been cut by 53% (1mln BPD) due to Storm Barry...
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  • European Indices opened in positive territory this morning though have recently drifted into negative territory [Euro Stoxx 50 U/C]
  • In FX, the USD is somewhat softer as pricing for a 50bp FOMC move has continued to rise
  • ECB’s Coeure says the protracted period of low inflation has caused concerns among financial market participants that current subdued underlying price pressures will persist in the medium term
  • Looking ahead, highlights include US CPI, weekly jobs, OPEC monthly report (12:10 BST), Fed...
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  • Asian equity markets traded positively as the region took advantage of the tailwind from the US, post-Powell
  • FOMC Minutes stated that many participants saw a rate cut as warranted in the "near term" if trade and other global risks continued to weigh on the outlook
  • In FX, DXY remained pressured and slipped below 97.00 with EUR/USD and GBP/USD holding above 1.1200 and 1.2500 handles respectively
  • Looking ahead, highlights include, ECB minutes, US CPI, weekly jobs, OPEC monthly report, Fed Chair...
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  • Major European indices are tentative [Euro Stoxx 50 -0.1%] as participants await the today’s key event in the form of Fed Chair testimony & FOMC Minutes
  • Core bonds reverse further following strong EZ data, better than expected GDP prints and a poor Bund auction
  • NHC see a 90% chance of cyclone formation in the Gulf of Mexico within 48 hours, as such production platforms have begun stopping production and evacuating workers
  • Looking ahead, highlights include BoC rate decision & press...
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  • Asian equity markets traded somewhat mixed following a similar lead from Wall St. as participants await fresh clues on Fed policy
  • USTR Lighthizer and Treasury Secretary Mnuchin conducted a phone call yesterday with China Vice Premier Liu He which was said to have gone well and was constructive
  • UK lawmakers voted in favour of a plan which might hinder government from suspending Parliament if it pursues a no deal Brexit
  • Looking ahead, highlights include UK GDP, output & trade data, BoC rate...
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  • European Indices are subdued [Euro Stoxx 50 -0.5%] as a profit warning from BASF weighs heavily on the Dax (-1.1%)
  • China’s Vice Foreign Minister Le Yucheng warned of ‘disastrous consequences’ if the US treats China as an enemy
  • US is set to impose duties on fabricated structural steel imports from China and Mexico but will not impose duties on structural steel from Canada; Mexico state this should not impact the USMCA ratification
  • Looking ahead, highlights include US JOLTS, EIA Short Term Energy...
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Have a great weekend, you beautiful people! Live long and prosper! https://t.co/ZRJ7GyqhnJ