20 Feb 2020, 11:55 by Newsquawk Desk
- 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...
19 Feb 2020, 11:57 by Newsquawk Desk
- 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...
19 Feb 2020, 06:55 by Newsquawk Desk
- 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...
18 Feb 2020, 12:00 by Newsquawk Desk
- 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...
18 Feb 2020, 06:54 by Newsquawk Desk
- 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...
17 Feb 2020, 06:55 by Newsquawk Desk
- 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...
14 Feb 2020, 11:42 by Newsquawk Desk
- 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),...
14 Feb 2020, 06:54 by Newsquawk Desk
- 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...
13 Feb 2020, 11:39 by Newsquawk Desk
- 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...
13 Feb 2020, 06:54 by Newsquawk Desk
- 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...
12 Feb 2020, 12:03 by Newsquawk Desk
- 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...
12 Feb 2020, 06:54 by Newsquawk Desk
- 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,...
11 Feb 2020, 11:55 by Newsquawk Desk
- 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...
11 Feb 2020, 06:54 by Newsquawk Desk
- 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,...
10 Feb 2020, 11:50 by Newsquawk Desk
- 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...
10 Feb 2020, 06:54 by Newsquawk Desk
- 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...
07 Feb 2020, 11:47 by Newsquawk Desk
- Risk-off returns as sentiment dips on Coronavirus concerns and China postponing trade data
- European bourses/US futures suffer as safe havens rise after USD/CNH re-claimed 7.00 briefly
- China Customs Office says that they are to combine the months of January and February for reporting of trade data
- RBA Statement on Monetary Policy stated that policy is expected to remain accommodative for some time, cut GDP and forecasts assume a mid-2020 25bp...
07 Feb 2020, 06:55 by Newsquawk Desk
- Asian equity markets were mostly subdued after failing to benefit from the tailwinds on Wall St.
- China National Health Commission reported coronavirus cases now at 31161 and death toll at 636
- RBA Statement on Monetary Policy noted the Bank are discussing rate cuts but were wary of the risks associated with lower rates
- OPEC+ proposed a 600k supply cut through to June but are still awaiting Russia to sign off on it
- Looking ahead, highlights include German Industrial Output and Trade Balance,...
06 Feb 2020, 11:33 by Newsquawk Desk
- European equity markets have faded off highs [Eurostoxx 50 +0.4%] seen since the cash open as sentiment turned more cautious
- China reported total coronavirus cases were now at 28018 and total death toll at 563 as of Feb. 5th
- China is to cut tariffs by as much as 50% on USD 75bln of US goods effective February 14th
- Russia is reportedly not supporting a deeper oil cut and prefers an extension of the current OPEC+ pact, according to...
06 Feb 2020, 06:55 by Newsquawk Desk
- Asia-Pac equity markets got a lift from the tailwinds from Wall St. where S&P 500 and Nasdaq posted record closes
- China reported total coronavirus cases were now at 28018 and total death toll at 563 as of Feb. 5th
- China is to cut tariffs by as much as 50% on USD 75bln of US goods effective February 14th
- Russia is reportedly not supporting a deeper oil cut and prefers an extension of the current OPEC+ pact, according to...
05 Feb 2020, 06:55 by Newsquawk Desk
- Asian equity markets were positive across the board as the global rebound filtered through to the region
- China reported total coronavirus cases in the mainland are now at 24324 and total number of deaths was now at 490
- US President Trump’s administration is planning to meet later this month to discuss efforts to further limit exports to China and Huawei, according to WSJ
- RBA Governor Lowe says the board continues to discuss merits of further stimulus but also noted the economy is still passing...
04 Feb 2020, 11:58 by Newsquawk Desk
- Risk-on dominates this morning as little has occurred to changed yesterday’s positive narrative
- Iowa results have been delayed, expected to be released later tonight
- US Trump administration it to proceed with new rules that would enable the nation to impose punitive tariffs on goods from countries believed to have undervalued currencies
- China says they have suspended all activities for their Canton fair due to the coronavirus
- Looking ahead, highlights include US Factory Orders, New Zealand...
04 Feb 2020, 06:55 by Newsquawk Desk
- Asia-Pac equity markets traded higher after following suit to Wall St peers; Shanghai Comp +1.3%
- China’s National Health Commission said total confirmed cases of coronavirus is now at 20438 and death toll at 425
- RBA kept rates unchanged as expected and reiterated the main aspects of its statement which disappointed those anticipating a more dovish tone
- Democratic Iowa caucuses results were delayed due to quality checks amid inconsistencies
- USTR said there was no formal request from China on...
03 Feb 2020, 12:02 by Newsquawk Desk
- European bourses are largely little changed after China’s profoundly negative return, US futures indicate a firmer open
- EU unveiled a relatively unsurprising draft mandate for EU-UK negotiations which, as expected, emphasised the importance of a level-playing-field
- PM Johnson’s comments have been largely in-line with leaked remarks, taking a modestly hardline stance
- Conflicting source reports around potential Saudi Arabia/OPEC cuts to...
03 Feb 2020, 06:55 by Newsquawk Desk
- Shanghai Comp. played catch up to the global market rout despite supportive measures by Chinese authorities
- Shanghai copper, crude oil and Dalian iron ore futures all hit limit down on pent up selling from the Lunar New Year holiday
- China’s daily briefing confirmed 17205 coronavirus cases and the death toll at 361 as of February 2nd
- UK PM Johnson will set out a hardline stance on post-Brexit trade talks during a major speech today
- OPEC+ joint committee is reportedly to meet on Feb 4th-5th in...