• European stocks drift lower despite a lack of fresh catalysts ahead of Fed Chair Powell
• US Republicans are reportedly refining the new 'skinny' stimulus proposal which would not include stimulus checks and would be valued at USD 500bln
• US Defense Secretary Esper said Beijing has repeatedly failed to keep promises to adhere to international laws
• In FX, DXY remains propped up around 93.00, antipodeans outperform; UST curve is fractionally flatter
• Looking ahead, highlights include US GDP (2nd...

• Asian equity markets traded mixed after failing to take full impetus from the fresh record highs stateside
• US Defense Secretary Esper said Beijing has repeatedly failed to keep promises to adhere to international laws, whilst a US official stated that US actions regarding the South China Sea are a mere start
• EU Trade Chief Hogan confirmed reports that he is to resign as EU Trade Commissioner
• UK officials have warned that negotiations with...

• European bourses modestly strengthened from a soft open after a weak APAC handover amidst quiet newsflow
• NHC says Laura is set to rapidly strengthen to a Category 4 hurricane
• Salesforce (CRM) beat on top and bottom lines and are some 12% higher in the pre-market
• DXY holds 93.00 with major peers mixed but overall little changed
• UST yields are continuing yesterday’s bear-steepening with USD 51bln 5yr supply in focus before tomorrow’s Jackson Hole
• Looking ahead, highlights include US...

• Asian equity markets traded cautiously amid a lack of fresh macro drivers and following on from the somewhat choppy performance of US counterparts
• In FX, the DXY rebounded from support around 93.00, dragging EUR/USD towards 1.18 and GBP/USD below 1.3150
• WTI crude futures plateaued just south of the USD 43.50/bbl level following the prior day’s advances; output disruptions remain in focus
• US President Trump's Administration is reportedly...

• European bourses remain positive after a mixed APAC lead with US futures modestly positive as well
• USTR Lighthizer and Treasury Secretary Mnuchin spoke with China Vice Premier Liu He on Monday regarding implementation of the Phase 1 trade agreement
• Officials from both sides see progress and are committed to taking next steps required to ensure success of the deal
• DJIA Reshuffle: Salesforce.com (CRM), Amgen (AMGN) and Honeywell (HON) are to replace ExxonMobil (XOM), Pfizer (PFE) and Raytheon (RTX) as...

• Asian equity markets traded mostly higher as the region took impetus from the fresh record highs on Wall St
• USTR Lighthizer and Treasury Secretary Mnuchin spoke with China Vice Premier Liu He on Monday regarding implementation of the Phase 1 trade agreement
• Officials from both sides see progress and are committed to taking next steps required to ensure success of the deal
• The DXY was softer but remained above 93.00, EUR/USD reclaimed 1.18...

• Equities build on a firm APAC handover as newsflow slows this morning
• FDA authorized the emergency use of convalescent plasma as treatment for hospitalized COVID-19 patients
• President Trump is considering fast tracking the UK vaccine which is currently being developed by AstraZeneca before the election, although AstraZeneca later denied this
• US President Trump raised the prospect of decoupling from China in which he suggested the US doesn’t have to do business with China
• Crude is supported...

Highlights include Fed’s Jackson Hole conference; RNC; US personal spending/consumption, consumer confidence; Aus capex; NZ retail sales; Canada GDP, BOK rate decision

• Asian equity markets traded mostly positive and E-mini S&P topped 3,400
• US FDA authorized the emergency use of convalescent plasma as treatment for hospitalized COVID-19 patients
• China launched the emergency use of COVID-19 vaccines which are going through clinical trials
• Australia's Victoria State Premier is to allow the extension of the state of emergency for a year & New Zealand extended the Auckland Level 3 lockdown restrictions;...

• Sentiment largely undeterred on EZ flash PMIs but currently bourses are mid-range and modestly firmer in quiet newsflow
• EZ PMIs were softer than expected, with French Manufacturing dropping into contractionary territory
• UK Retail Sales & PMIs were strong; however, DXY remains firm above 93.00 as Cable gave up 1.32 but EUR/USD just retains 1.18 – Brexit updates have been downbeat, but nothing fundamentally new
• US House Speaker Pelosi says...

• Asian equity markets traded mostly positive as the region benefitted from the tech-led gains on Wall St
• Brexit talks are set to end without a breakthrough this week, albeit the UK has reportedly submitted a draft FTA
• In FX markets, the DXY gave back some gains, providing mild reprieve for EUR/USD and GBP/USD
• US House Speaker Pelosi says the timing is not right for a smaller coronavirus relief bill
• Looking ahead, highlights include UK retail sales, EZ, UK & US flash PMIs, Canadian retail...

• Sentiment remains soft after less accommodative FOMC minutes and US-China tensions remain in focus
• China's Foreign Ministry have decided Hong Kong will be suspending agreements with the US on some areas of legal cooperation
• Australia is reportedly to block China's Mengniu Dairy's proposed AUD 600mln takeover of a number of Australian dairy brands, FT
• FX sees the DXY modestly firmer but meandering around 93.00 with major peers subdued as such and antipodeans taking the brunt; NOK was unfazed by an...

• Asian equity markets traded lower across the board amid headwinds from Wall St where stocks faltered in the aftermath of the less accommodative than expected FOMC Minutes
• FOMC minutes mentioned the ongoing framework review but lacked any timing of its release and there also appeared to be no clear consensus regarding forward guidance
• There was also opposition to YCC as most members judged yield caps and targets would likely provide only modest benefits in the current environment
• US and Chinese trade...

• A non-committal European session thus far with bourses within ranges and modestly firmer at present
• President Trump stated that he postponed talks with China and does not want to talk with China right now
• Brexit trade discussions are reportedly set to stall again after Brussels dismissed UK demands for continued wide-ranging EU access for British truckers
• Lowes (LOW) beat on EPS & revenue and highlights that sales momentum continues into August
• US Oil Fund (USO) has received a Wells...

• Asian equity markets sustained the mixed lead from their counterparts on Wall St where the S&P 500 and Nasdaq notched fresh record intraday highs
• President Trump stated that he postponed talks with China and does not want to talk with China right now
• Brexit trade discussions are reportedly set to stall again after Brussels dismissed UK demands for continued wide-ranging EU access for British truckers, according to the FT
• In FX, the DXY was granted some reprieve overnight with EUR/USD capped...

• European bourses have been erring marginally higher throughout the session, with similar performance for US futures; amidst quiet newsflow
• DXY remains pressured and dropped briefly to a new YTD trough, as such major FX peers are largely firmer this morning
• Senate Republicans are planning to propose a slimmed down relief bill which is expected to include USD 10bln for the USPS and USD 300 in boosted unemployment benefits till December 27th
• Oracle (ORCL) has reportedly joined the pursuit to purchase...

• Asian equity markets traded mixed following a similar indecisive performance for stocks on Wall St
• Oracle (ORCL) has reportedly joined the pursuit to purchase TikTok's US operations
• In FX, the DXY further retreated below 93.00, broadly providing support to its major counterparts
• White House Chief of Staff Meadows said he has not spoken with House Speaker Pelosi in over a week regarding COVID...

• European stocks are choppy amidst minimal news-flow, Spain’s IBEX underperforms; US futures modestly firmer
• US President Trump issued a new order on ByteDance to divest itself of any assets used to support the TikTok app in the US within 90 days.
• One source suggested the US-China meeting was delayed as US wanted more time to allow China to increase US import; another referenced a conference of senior Communist Party leaders
• US House Democrats are to hold a caucus-wide conference call this morning...

• Asian equity markets began the week somewhat mixed following the indefinite postponement of the US-China trade agreement review talks
• The US-China six-month review of the trade agreement was delayed due to scheduling issues and a new date was not yet set, according to sources
• US President Trump increased pressure on ByteDance and is said to be looking at pressuring other Chinese companies including Alibaba
• In FX, DXY was subdued around 93.00, EUR/USD breached 1.1850 and GBP/USD briefly reclaimed...

• Sentiment has slipped as COVID updates and soft China data dented an otherwise quiet session as DXY and USTs see modest upside
• Chinese Industrial Production & Retail Sales for July both missed expectations
• New Zealand PM Arden says the Auckland restrictions are to be extended for an extra 12 days; settings will be reviewed on August 21st
• RBA Governor Lowe noted that the conditions for a rate increase are not likely to be met for at least 3-years
• Looking ahead, highlights include US...

• Asian equity markets head into the weekend mixed as the region took its cue from the lackadaisical performance in global peers
• Chinese Industrial Production and Retail Sales missed expectations
• In FX, the DXY has consolidated after a brief dip below 93.00, EUR/USD and GBP/USD maintain 1.1800 and 1.3050 respectively
• RBA Governor Lowe who noted the likely conditions for a rate increase will not be met for at least 3...

• European bourses are softer after a mixed-APAC handover while US futures are little changed overall as newsflow remains relatively quiet
• USTR maintained import tariffs at 15% and 25% respectively for EU aircraft and other goods, with minor tweaks to the 25% tariff basket
• US Treasury Secretary Mnuchin said Trump’s administration is willing to move ahead with legislation but Democrats have no interest in negotiating; no COVID bills scheduled in the Senate today
• Apple (AAPL), Ford (F), Walmart (WMT)...

• Asian equity markets began mostly higher as the region took impetus from the tech-led gains on Wall St
• The S&P 500 and Nasdaq moved to within close proximity of record highs, fuelled by strength across the big tech names
• US Trade Representative said the US is removing certain products from the UK and Greece from its tariff list and adding an equal amount of trade from France and Germany
• Additionally, the amount of products subject to...

• European stocks trade flat/firmer amid a lack of fresh catalysts; DAX is pressured by its IT exposure whilst FTSE 100 outperforms
• US President Trump said the government reached an agreement with Moderna (MRNA) for delivery of 100mln doses of its vaccine candidate
• US Senator Kamala Harris has been chosen as former VP Joe Biden’s running mate
• RBNZ kept rates unchanged as expected, widened its LSAP and agreed that the package of additional monetary tools must remain in active preparation which includes...

• Asian equity markets traded with a lacklustre tone following on from a weak lead from US where the major indices faltered in late trade
• US Senate Majority Leader McConnell dashed some stimulus hopes and saw the S&P 500 retrace its earlier gains
• In FX markets, the DXY heads into the EU open firmer as EUR/USD and GBP/USD sit above 1.17 and 1.30 respectively
• RBNZ kept rates unchanged as expected, widened its LSAP programme to NZD 100bln from NZD 60bln and agreed to continue preparing a package of...