• Significant underperformance in the DAX following losses in BMW and Bayer
• PM May to ask for a ‘short’ extension to A50, of up to 3 months. However, remainers are looking to derail her plans via an emergency debate
• In FX, Dollar steadies ahead of FOMC, aided by GBP declines
• Looking ahead, highlights include New Zealand GDP, FOMC Rate Decision & Press Conference

ASIA  

Asian equity markets lacked firm direction with the region cautious following a...

• Asian equity markets lacked firm direction with the region cautious following a lacklustre lead from Wall St
• US President Trump said talks with China are "going very well" and reports suggested that US-China talks are in final stages
• Separate reports noted that some US officials see China walking back on some trade offers but suggested this is a normal procedure in trade talks
• UK PM May requested to address the 1922 Committee at 1700GMT, while the PM’s office has indicated the Brexit extension...

• European indices are firmer [Euro Stoxx 50 +0.5%] shrugging off a indecisive lead from Asia
• Sterling respite on ONS data & Brexit updates, while the dollar remains subdued ahead of FOMC
• UK PM May to reportedly request a 9-12 month delay to Brexit, EU leaders are reportedly planning a contingent offer on Brexit extension to be finalised in days before March 29th
• Looking ahead, highlights include, US Durable Goods (Revised) & Factory Orders, New Zealand Current Account, Riksbanks'...

• Asian stock indices traded indecisively amid a lack of key drivers for the region and with participants cautious ahead of the upcoming risk events
• UK PM May is said to request a 9-12 months delay to Brexit, according to The Sun
• In FX markets, USD was subdued, whilst the greenback’s major counterparts struggled for direction
• Looking ahead, highlights include UK Employment Data, German ZEW Survey, US Durable Goods (Revised) & Factory Orders, New Zealand Current Account, ECB's Praet &...

• Mixed start to the week for Major European Indices [Stoxx 600 +0.1%] following a relatively optimistic lead from Asia
• A summit between US President Donald Trump and Chinese counterpart Xi Jinping could be delayed to June according to sources
• Antipodeans outperform as the dollar is generally subdued, GBP choppy ahead of another crucial week for Brexit
• Amidst conflicting reports, Iraqi Energy minister confirms next OPEC+ JMMC in June; although...

• Asian stocks began the week mostly higher after last Friday’s tech-led upside on Wall St, China outperformed
• A summit between US President Donald Trump and Chinese counterpart Xi Jinping could be delayed to June according to sources
• UK PM May received backing by some staunch Brexiteers after she personally lobbied MPs but still remained significantly short of the number she needs to win a vote this week
• In FX markets, price action was...

• Major European indices trade positively as US-China trade optimism continues from Asia.
• UK AG Cox is attempting to win over Brexiteers and DUP with new legal advice; however, Cox’s efforts have been rejected by Brexit supporting lawmakers.
• Dollar underperforms major counterparts, particularly NZD & GBP
• Looking ahead, highlights include US NY Fed Manufacturing, US Manufacturing Output & Industrial Production, and Quadruple Witching

ASIA  

Asian...

• Asian stocks traded mostly positive across the board as US-China trade optimism helped the region shake off the negative lead from the US
• BoJ kept monetary policy settings unchanged with NIRP held at -0.10% and 10yr JGB target at around 0% as expected
• US President Trump said we will have news on China trade deal in the next 3-4 weeks one way or the other
• UK lawmakers voted (412 vs 202) to accept the government's motion to extend the Article 50 process beyond 29th...

14th March 2019

·        Trade deal sentiment rocked after US & China said to delay Trump/Xi meeting until April

·        Major European indices [Euro Stoxx 50 +0.3%] are firmer, but off of bests after Trump/Xi delay

·        Dollar respite as G10 counterparts falter

·        EU Council President Tusk...

• Asian stocks were initially higher across the as the region took early impetus from the US. However, the risk tone was eventually clouded as participants digested Chinese data
• UK Government Brexit motion to rule out a no-deal in any scenario and Brexit Amendment A were both accepted by the HoC last night
• Focus now turns to today’s vote on potentially extending Article 50; Government extension motion proposes an extension until June 30th
• US...

• Major European indices are slightly firmer [Euro Stoxx 50 +0.2%] shrugging off poor performance overnight
• UK has announced temporary cuts to import tariffs and temporary moves to avoid a hard Irish-Northern Irish border in a no-deal Brexit scenario
• Sterling outperforms G10 counterparts, around the 1.3150 level
• Looking ahead, highlights include, US Durable Goods & PPI, Construction Spending, HoC Vote on no-deal, ECB's Coeure, Supply from the US

ASIA

Asian equity markets...

• UK PM May lost the Brexit deal vote by 391 against vs. 242 for (149 vote margin). Lawmakers will now vote on the possibility of accepting a no deal Brexit
• Asian equity markets traded mostly lower following the mixed lead from Wall St and after UK PM May’s Brexit defeat and soft data releases
• In FX, the DXY traded uneventfully overnight with price action stuck at the 97.00 level as EUR/USD flatlined
• Looking ahead, highlights include, EZ Industrial Production, US Durable Goods & PPI, Construction...

• UK PM May secured assurances from the EU regarding the Northern Irish Backstop
• Sterling loses some of its stride ahead of AG Cox’s verdict and the meaningful vote
• European equities are somewhat mixed having waned off opening highs [Euro Stoxx 50 U/C]
• Looking ahead, highlights include US inflation, API crude inventories, UK House of Commons to vote on PM May’s Brexit deal

ASIA

Asian equity...

• Asian equity markets traded mostly higher as the region took impetus from the M&A inspired tech-led rally on Wall St
• UK PM May has secured “legally binding” changes to her Withdrawal Agreement, however, she did not get the power to unilaterally exit the backstop, nor did she get a time limit placed on it
• European Commission President Juncker said that the legal add-on to the Brexit deal stresses the temporary nature of the backstop and he warned if the deal is voted down, there was “no third...

• Major European equity indices are essentially unchanged, while Dow futures underperform due to heavyweight Boeing
• Brexit deadlock continues, recent reports suggest that PM May may change tomorrows vote from meaningful to provisional
• Looking ahead, highlights include US retail sales (Jan), BoE’s Haskel, US supply. Note: US clocks have changed (London-NY gap is now 4 hours)

ASIA

Asian equity markets traded somewhat...

• Asian equity markets traded somewhat indecisive as the region digested Friday’s mixed US jobs data, China outperformed on PBoC pledge to further support the slowing economy
• China reportedly removed the trip to Mar-a-Lago from Chinese President Xi's calendar, US and China are still negotiating over the phone
• Brexit talks between the UK and the EU remain at an impasse, Downing Street has said, talks are to resume today
• UK PM May has reportedly been warned by MPs that the Brexit vote must be put on...

• Chinese trade surplus shrinks, as exports sink to 3 year lows
•  European indices [Euro Stoxx 50 -0.6%] extend losses amidst global growth concerns
• Dxy drifts from YTD peaks awaiting US payrolls
•  Looking ahead, highlights include US & Canadian Jobs Report, ECB's Mersch Speaking

ASIA

Asian equity markets were negative across board on spill-over selling from their global peers after...

• Asian equity markets were negative across board on spill-over selling from their global peers after the ECB's latest policy announcement and disappointing Chinese trade data
• UK PM May will urge the EU to help get her Brexit deal through House of Commons by agreeing to legally binding changes to the backstop
• Sources reported that the ECB is said to doubt 2019 outlook was cut by enough and that President Draghi is said to have pushed for ECB stimulus package
• Looking ahead, highlights include German...

• Major European equities are marginally lower [Euro Stoxx 50 -0.4%] ahead of today’s ECB policy announcement
• EU Brexit negotiators have told UK Attorney General Cox to rework his backstop proposals and return for further talks on Friday
• Huawei has filed a lawsuit against the US for banning equipment from certain networks
• Looking ahead, highlights include ECB Rate Decision & Press Conference, Fed's Brainard, ECB's Praet,
• Earnings: Costco

ASIA

Asian...

• Asian stocks were mostly lower following the negative lead from Wall Street, China wobbled after Huawei filed a lawsuit against the US government
• EU officials are reportedly pessimistic about reaching a Brexit breakthrough. Negotiators suspect that whatever they offer will not be enough to get Parliament to back PM May's Brexit deal
• UK PM May's Cabinet believes her Brexit deal 'will be defeated by 100 votes', Chief Whip Smith recently warned that Parliament will force a soft Brexit if deal is...

• European indices are moving towards unchanged [Euro Stoxx 50 -0.1%] after a somewhat weaker start
• AUD underperforms, weighed on by; GDP miss, banks now expecting two rate cuts and RBA’s Lowe stating it is hard to imagine a rate hike this year
• EU official states that talks did not go well, as EU/UK talks continue, after ending without agreement yesterday
• Looking ahead, highlights include US ADP National Employment & International Trade, Canadian Trade Balance, BoC Rate Decision, BoE's Cunliffe,...

• Asian stocks were relatively mostly higher following a muted lead from Wall Street, Nikkei 225 underperformed
• AUD was dealt a triple-whammy from Aussie GDP, Governor Lowe and JPM downgrading RBA rate forecasts
• UK and EU negotiators reached no agreement yesterday, an EU official said the talks did not go well, dialogue will continue today
• Looking ahead, highlights include US ADP National Employment & International Trade, Canadian Trade Balance, BoC Rate Decision, BoE's Cunliffe, Haldane &...

• Major European indices are moving towards negative territory, after starting the session somewhat firmer [Euro Stoxx 50 U/C]
• China lowered their 2019 GDP growth target range to 6.0-6.5% vs. Prev. around 6.5%
• DXY is off of its best levels, but continues to move higher and as such is outperforming its G10 counterparts
• Looking ahead, highlights US Composite and Services PMI, US ISM Non-Manufacturing PMI, Fed’s Rosengren, Kashkari, Barkin, BoE’s Carney, RBA’s...

Asian stocks traded lacklustre following a disappointing lead from Wall Street. Mainland China maintained composure following the Chinese NPC announcement

China lowered its 2019 GDP growth target to the range of 6.0-6.5% from “around 6.5%” and maintained CPI target at 3.0%, both as expected, budget deficit for 2019 was set at 2.8% vs. 2.6% in 2018

The RBA left its Cash Rate unchanged at 1.50% as expected. The statement was relatively mixed but the last paragraph (often seen as the most important) remained...

• US and China are reportedly closing in on the final stages of a deal, according to WSJ
• Major European indices are higher, continuing from a strong Asia session, albeit off of best levels
• Dollar is mixed, but has recovered from US President Trump’s dollar strength comments
• Looking ahead, highlights include US Construction Spending & earnings from Salesforce