18 Dec 2019, 11:58 by Newsquawk Desk
- European Equities have been choppy for much of the session, but haven’t drifted too far from the unchanged mark
- US Treasury Secretary Mnuchin said President Trump just wants a level playing field with China and the enforcement mechanism is very strong in the China deal
- US House had enough votes to impeach President Trump with the majority in favour and is expected to conduct a vote today
- FX space is little changed vs. USD, with EUR and GBP failing to derive much support from the sessions...
18 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed as the region lacked conviction in the absence of any fresh catalysts and following a relatively quiet session on Wall Street
- US Treasury Secretary Mnuchin said President Trump just wants a level playing field with China and the enforcement mechanism is very strong in the China deal
- S&P affirmed UK at AA; Outlook revised to Stable from Negative and Fitch affirmed the UK at AA; Outlook revised to Negative from Rating Watch Negative
- US House has enough votes to...
17 Dec 2019, 12:04 by Newsquawk Desk
- European equities are mostly lower as the region failed to follow a positive APAC lead, Boeing shares are down 2.0% after freezing 737 Max production
- UK PM Johnson is to bolster his Brexit legislation by outlawing a delay to the transition period with the EU beyond December 2020
- RBA meeting minutes saw the central bank reiterating it has the ability to add further stimulus if needed and is ready to ease again if required
- In FX, DXY hovers...
17 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mostly higher as the region took mild impetus from the gains on Wall St where all major indices notched fresh record highs
- UK PM Johnson is to bolster his Brexit legislation by outlawing a delay to the transition period with the EU beyond December 2020
- In FX, DXY edged marginal gains above 97.00, helped by strong NAHB data, a recent increase in yields and weakness across major counterparts
- RBA meeting minutes saw the central bank reiterating it has the ability to add...
16 Dec 2019, 12:00 by Newsquawk Desk
- European bourses are firmer this morning, though the FTSE 100 significantly outperforms on a second-wave of UK election optimism
- China State Council stated it will continue to suspend additional tariffs on US vehicles and auto parts due to the Phase One deal
- China sources cited by CNBC's Yoon note that the USD 40-50bln target on agricultural purchases is a "best case target"
- Boeing (BA) is mulling cutting or stopping its 737 MAX production, via WSJ – Co. shares are down 2% pre-market
- USD...
16 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed following relatively light newsflow over the weekend, ASX 200 outperformed
- USTR Lighthizer said China agreed to purchase USD 40bln of agriculture in the first year, added the deal will be signed by trade principals in Washington in the first week of January
- US is reportedly weighing 100% tariffs on more EU products including whiskies and cognac amid the fallout of its Airbus dispute
- In FX, the DXY was...
13 Dec 2019, 11:37 by Newsquawk Desk
- The result of the UK election exit poll overwhelmingly pointed towards a Conservative majority with a total of 368 seats vs. Labour 191 - Conservatives managed to cross the 326-seat threshold just before 0500GMT
- GBP immediately saw strength following the election exit poll with GBP/USD eclipsing 1.3500 to the upside from mid-1.3100 area
- China and the US have struck an agreement on some tariff reductions and a delay to the tariffs that were due to come into effect on...
13 Dec 2019, 06:55 by Newsquawk Desk
- The result of the UK election exit poll overwhelmingly pointed towards a Conservative majority with a total of 368 seats vs. Labour 191 - Conservatives managed to cross the 326-seat threshold just before 0500GMT
- GBP immediately saw strength following the election exit poll with GBP/USD eclipsing 1.3500 to the upside from mid-1.3100 area
- China and the US have struck an agreement on some tariff reductions and a delay to the tariffs that were due to come into effect on...
12 Dec 2019, 12:13 by Newsquawk Desk
- European equities are choppy and ultimately flat ahead of a deluge of risk events
- US President Trump is likely to meet with top trade advisers on Thursday regarding December 15th tariffs, according to sources
- Half of the latest UK Election Polls show a maintenance in the Tory/Labour spread and the other half show a slight narrowing
- SNB left Monetary Policy settings unchanged, whilst CBRT conducted a deeper-than-forecast cut and maintained their stance
- Looking ahead highlights include, UK...
12 Dec 2019, 06:55 by Newsquawk Desk
- FOMC left its Fed Fund Target Rate unchanged at 1.50%-1.75% as expected via unanimous decision while it maintained the IOER at 1.55%
- Fed dropped its language from the statement regarding uncertainties for the outlook remaining
- Fed Dot Plots show a median view for an unchanged rate throughout 2020 and a single hike in 2021 followed by another in 2022, although some see a 2020 hike as likely to be appropriate
- Fed Chair Powell also said that a...
11 Dec 2019, 11:53 by Newsquawk Desk
- European bourses are mixed/flat at present, as newsflow remains light ahead of the impending risk events
- White House Trade Advisor Navarro said China is trying to shape the narrative on trade talks and he believes the Dec 15th tariffs won’t come into effect
- YouGov’s MRP model showed Conservatives are on track for a 28-seat majority vs. Prev. forecast of 68-seat majority
- Looking ahead, highlights include US CPI, DoEs, US FOMC Rate Decision and Press Conference, OPEC Monthly Oil...
11 Dec 2019, 06:55 by Newsquawk Desk
- A non-committal tone persisted across Asia-Pac equity markets following conflicting US-China trade headlines
- White House Trade Adviser Navarro said he has no indication the December tariffs won't be put on
- YouGov MRP model showed Conservatives are on track for a 28-seat majority vs. Prev. forecast of 68-seat majority
- GBP lagged, USD eked mild gains ahead of the FOMC policy announcement, EUR/USD was contained just shy of 1.1100
- Looking ahead, highlights include Swedish and US CPI, DoEs, US...
10 Dec 2019, 12:02 by Newsquawk Desk
- European bourses are significantly subdued, as this morning’s stock sell-off accelerates and spreads across markets
- GBP outperforms ahead of tonight’s MRP, with the DXY continuing to print fresh session lows
- A US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expected according to Chinese press reports
- US House Speaker Pelosi stated that a USMCA trade deal is not agreed to, are close but not yet there
- Looking ahead, highlights include...
10 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets resumed the cautious global risk tone heading into this week’s plethora of risk events
- There were unconfirmed reports citing a trade source which noted the December 15th tariffs are going ahead and that China is preparing for them
- However, Chinese reports suggested a US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expected
- Looking ahead, highlights include Norges Bank Reginal Network Report, UK GDP, Production Trade,...
09 Dec 2019, 11:48 by Newsquawk Desk
- European bourses are tentative as newsflow is limited ahead of a key week
- China’s trade data was weaker than expected, with exports surprisingly contracting though imports did post surprise growth
- USTR Lighthizer and US Democrats are reportedly nearing a deal for Congress to pass USMCA, although hurdles remain
- UK Election polls have around an 8-14pp spread in the Conservative-Labour lead, YouGov MRP to be released tomorrow
- Looking ahead, highlights include US 3yr Supply, RBA’s...
09 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets were mixed as the tailwinds from Friday’s stellar US NFP report were offset by mostly weaker than expected Chinese trade data
- Hong Kong protesters conducted a large-scale march, with organizers claiming a turnout of 800k, protests were largely peaceful
- China ordered government offices and public institutions to remove all foreign computer equipment and software in 3 years
- Heading into election week, polls over the weekend have shown the Conservatives holding onto their lead over...
06 Dec 2019, 11:57 by Newsquawk Desk
- European equities reside in modestly positive territory, FTSE 100 outperforms on a softer Sterling
- China is reportedly to implement tariff waivers for some purchases of soybeans and pork from the US but has taken countermeasures against US limit on diplomats, sources state
- OPEC+ additional 500k BPD output cuts could be split roughly 2/3 for OPEC and 1/3 for Non-OPEC, according to sources
- In FX, GBP softened on potential...
06 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets were higher as the recent US-China trade optimism reverberated in the region, but with gains capped by uncertainty from OPEC and ahead of key US data
- US President Trump said something could happen with regards to tariffs on December 15th but we are not discussing that yet
- OPEC delegates suggested a 350k cut for OPEC and a 150k cut Russia and Non-OPEC
- OPEC official announced the press conference was cancelled for Thursday and sources noted the OPEC meeting was prolonged over...
05 Dec 2019, 12:10 by Newsquawk Desk
- European equities eke mild gains with sentiment somewhat supported by earlier China MOFCOM comments
- China's MOFCOM said US and China maintain close communication, reiterates if a Phase One deal is reached then tariffs should be reduced
- OPEC+ are to discuss deeper oil output cuts of more than 400k BPD as the main scenario, according to sources
- In FX, DXY meanders around 97.50, GBP remains the top gainer, NZD is supported by RBNZ hiking capital requirements, AUD trades lower on downbeat...
05 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets were mostly positive after yesterday’s positive US-China trade updates
- China Global Times tweeted an opinion that if US ignores China's warning and continues interfering in Hong Kong affairs, the Chinese government will certainly step up countermeasures
- DXY traded subdued and looked to retest the 97.50 level to the downside after yesterday’s soft data ahead of Friday’s NFP
- Looking ahead, highlights include OPEC Meeting,...
04 Dec 2019, 11:55 by Newsquawk Desk
- European bourses are firmer as risk sentiment has been lifted on US-China sources
- US and China are reportedly moving closer to a trade deal despite the heated rhetoric, according to sources
- US House voted in favour of passing the bill demanding sanctions on Chinese officals for the treatment of Uighurs
- FX complex is mixed vs. USD with Sterling underperforming above 1.30 mark and AUD subdued after GDP metrics missed
- Looking ahead, highlights include US ADP Employment, Markit Composite &...
04 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets extended on declines as global risk appetite remained sapped by the turbulent trade climate
- Strong Chinese Caixin Services and Composite PMI numbers added to the country’s recent flurry of strong activity data
- US House voted 407-1 in favour of passing the bill demanding sanctions on Chinese officials for treatment of Uighur Muslims.
- Looking ahead, highlights include Eurozone & UK Services & Composite PMIs, US ADP Employment, Markit Composite & Services PMI, ISM...
03 Dec 2019, 11:38 by Newsquawk Desk
- US President Trump said it is probably better to wait until after the 2020 presidential election for a China deal
- USTR office said France's digital services tax discriminates against US companies and that it will take action against regimes that discriminate against US companies
- US President Trump said the EU has to shape up or "things will get very tough", EU said it is prepared to react strongly
- European bourses wiped out earlier gains on...
03 Dec 2019, 06:55 by Newsquawk Desk
- Asian equity markets retreated amid headwinds from the US where the major indices all but wiped out last week’s gains due to fresh trade concerns
- China Global Times said China will soon release an unreliable entity list and noted that US House is expected to pass a Xinjiang-related bill that will harm the interests of Chinese firms
- USTR office said France's digital services tax discriminates against US companies and that it will take action against regimes that discriminate against US companies
- The...
02 Dec 2019, 11:45 by Newsquawk Desk
- European equities pared a bulk of the earlier upside seen from above-forecast major global PMIs
- Chinese markets welcomed the encouraging PMI data which aside from the headline beat, also showed Non-Manufacturing PMI and Caixin Manufacturing PMI topping estimates
- US-China deal was said to be stalled because of Hong Kong legislation according to Axios sources, China Global Times noted that the trade deal must include tariff rollbacks
- Global...