• EUR suffers post-poor flash EZ PMI’s as slowing global growth hurts European exports
• Crude continues its collapse in thin trade and set for 7th consecutive weekly fall
• Gibraltar remains a key issue ahead of Sunday’s Brexit summit
• Looking ahead, highlights include Canadian CPI, ECB’s de Guindos. US markets early close

ASIA

Asian stocks traded mostly lower with...

• Asian stocks traded mostly lower with sentiment in the region subdued by trade concerns and holiday-thinned conditions
• Tory Brexiteer Iain Duncan Smith stated that the Brexit deal will be killed off by him and his Brexiteer colleagues in Parliament
• In FX markets, the major pairs traded sideways with price volatility virtually non-existent due to the holiday closures and lack of data releases
• Looking ahead, highlights include...

• Asian equities were mixed as the region struggled to sustain the rebound seen on Wall St, where a recovery in the energy and tech sectors underpinned most major US indices
• UK PM May's spokesperson said PM May and EU's Juncker failed to finalise a deal on terms of Brexit but added that very good progress has been made in talks
• FX markets were uneventful with the USD subdued as US participants headed into the Thanksgiving holiday
...

• European equities are higher across the board (Eurostoxx 50 +0.8%) as the region stemmed the stock rout seen in Asia and Wall Street
• European commission has rejected the Italian budget, with the opening of EDP said to be warranted
• Looking ahead, highlights include US Durable Goods, Weekly Jobs, Existing Home Sales, Uni. of Michigan, DoEs, Japanese CPI, BoE’s Carney, UK PM May to meet with EC’s...

• Asian stocks mostly weakened as the global stock rout continued into the region following the losses in US
• US Trade Representative Lighthizer released a report regarding China intellectual property and tech transfers which stated that China has not altered its unfair practices
• UK PM May will discuss the text in Brussels today and will push for parts of her Chequers plan to be recognisable in the document, according to the BBC
• Looking ahead, highlights include US Durable Goods, Weekly...

• FAANG stocks down 1.3-2.0% premarket, while EU technology sector hits yearly lows
• DXY and broad Dollar saved from steeper declines as jitters over Brexit alongside the Italian budget are in focus
• Looking ahead, highlights include US building permits & housing starts, BoC’s Wilkins & Lane and weekly API crude inventory data

• Asian stock markets were lower across the board as the risk averse tone rolled over from Wall St, where the tech sector led the sell-off
• Brexiteers reportedly still lack the sufficient number of signatures required to trigger a no-confidence vote against UK PM May
• UK PM May is reportedly drawing up secret plans to drop the Irish border backstop and win support from angry Brexiteers
• Looking ahead, highlights include US building permits & housing starts, BoE’s Carney, Haldane,...

• APEC summit ended without an agreement on a joint communique for the first time in its history after China refused to sign amid US-China tensions
• Apple have reportedly cut production orders for their 3 new iPhone models and are down 1.9% pre-market
• DXY remains capped below a key Fib level (96.590) and the Dollar overall is mixed vs major counterparts
• Looking ahead, highlights include potential comments from Fed’s Williams....

• Asian equity markets began the week somewhat cautious on lingering trade concerns and after disunity at the APEC summit
• UK PM May stated over the weekend that there has not yet been enough number of letters required to trigger a no-confidence vote
• ERG sources are said to be confident of reaching the 48 letters required on Monday to trigger a no-confidence vote against UK PM May
• Looking ahead, highlights include potential comments from Fed’s Williams, UK PM May to speak at the CBI...

16th November 2018

• US-Chinese trade relations in focus again after conflicting reports suggesting the next round of Chinese tariffs are being placed on hold, which USTR Lighthizer later denied
• UK PM May said she will see this through and fight leadership challenge. UK PM May is yet to appoint a new Brexit Minister
• Looking ahead, highlights include EZ CPI, US Industrial Production, ECB’s Draghi, Weidmann and Lane, Fed’s Evans

• Sterling pounded amidst multiple cabinet resignations
• Gilts hit contract high, ahead of possible no-confidence vote as UK PM in Dis-May
• Looking ahead, highlights include US retail sales, US weekly jobs, NY Fed mfg, Philly Fed, DoEs, ECB’s Coeure, Praet and de Guindos, Fed’s Quarles, Powell and Bostic, earnings from Walmart

• Asian equity markets were eventually mostly higher after the region gradually shrugged off the cautious lead from the losses stateside
• UK PM May confirmed she has cabinet backing for her Brexit deal and stands ready to present the deal and a statement to Parliament
• There were reports that a PM May no confidence vote would be submitted today. However, questions remain over whether or not rebels would have enough votes to be successful
• Looking ahead, highlights include UK and US retail...

• Cable wings clipped by customs concerns ahead of 14:00GMT Cabinet meeting
• Source reports of a possible 1.4mln BPD oil supply cut by OPEC fails to stop the rot
• Looking ahead, highlights include, UK Brexit Cabinet meeting, US CPI, Fed’s Quarles, Powell, Supply from Germany and UK cabinet to meet to discuss Brexit deal

• Asian equities traded lacklustre following a similar performance on Wall St where the energy sector was hit by a further aggressive slide in oil prices
• All eyes are now on events at 10 Downing Street as UK PM May’s cabinet meets to discuss her Brexit deal
• Tensions between Italy and the European Commission remain after the nation left growth and deficit targets unchanged in its budget draft
• Looking ahead, highlights include German and Eurozone flash GDP, Swedish, UK and US CPI,...

• Brexit "endgame" talk lifts Cable to a 1.29 handle as a deal hangs in the balance; Italian assets underperform ahead of budget re-submission deadline
• Positive US-China trade rumblings lifting equities but oil extending losses as Presidential jawboning fails
• Looking ahead, highlights include Italian Budget Resubmission Deadline, ECB’s Stournaras, de Guindos, Fed’s Brainard, Harker, Daly

• Major Asian equity markets mostly followed suit to the sell-off on Wall St where tech led the declines
• UK PM May said Brexit talks are now reaching their "endgame" and that both sides are working hard to reach an agreement but added that significant issues still remain
• Senior ministers led by UK Brexit Secretary Raab told UK PM May no deal is preferable to the current offer from the EU, according to Buzzfeed
• Looking ahead, highlights include German CPI (F), UK jobs report,...

• European equities are mixed after having initially opening higher across the board, DAX underperforms while FTSE 100 is buoyed by a weaker GBP
• DXY has extended recovery gains beyond 97.000 and through its previous ytd peak to top out just shy of 97.600
• Looking ahead, the calendar includes a lack of tier 1 data, ECB’s Lautenschlaeger, Fed’s Daly. US Veteran’s Day – no market closures

• Asian equity markets eventually traded mostly positive but with gains limited as some cautiousness lingered from the uninspiring performance on Wall St last Friday
• GBP/USD gapped lower towards 1.2900 after reports that UK PM May cancelled an emergency cabinet meeting which severely lessens the likelihood of an EU summit later this month
• Sources suggested EU and UK negotiators had agreed it would be impossible for the UK to unilaterally exit its backstop on Northern Ireland
• Looking ahead,...

• Major European equities are lower across the board (Eurostoxx 50 -0.8%) as the sentiment seen in Asia spills over onto the region
• WTI and Brent lost the USD 60/bbl and USD 70/bbl handles respectively, after the complex entered into bear market territory
• GBP has lost momentum and is underperforming alongside the NOK within the G10 ranks
• Looking ahead, highlights include US PPI, Baker Hughes, Fed’s Williams, Harker, Quarles, BoE’s Haldane, Tria to meet with...

• Fed kept Federal Funds Rate target unchanged at 2.00-2.25% as expected and continued to point to “further gradual increases” in rates
• Asian equity markets traded lower following a lacklustre lead from Wall St where the mid-term stock rally stalled
• EU is said to want a customs border in the Irish Sea in the event of a no-deal Brexit. However, the report noted that PM May said she would never allow this to occur
• Looking ahead, highlights include UK GDP, industrial and...

• Major European indices are mixed (Eurostoxx 50 -0.2%) after starting the session in positive territory, financials outperform while consumer discretionary names la
• The dollar index is holding relatively firm above the 96.000 handle within a fairly confined range awaiting the Fed, while GBPUSD is choppy amid conflicting Brexit reports
• Looking ahead, highlights include US weekly jobs, FOMC rate decision, ECB’s Coeure, Draghi and...

• Asian stocks were mostly higher as they took impetus from the post-election rally seen on Wall St where all majors gained at least 2%
• EU Commission see Italian budget measures leading to a deficit/GDP ratio of 2.9% vs. the Italian government's view of 2.4%, according to sources
• FX markets calmed overnight in which the greenback consolidated at session highs above the 96.00 level after the prior day’s post-election rebound
• Looking ahead, highlights include German trade, US...

• Democrats have taken control of the House, while the Republicans retain control of the Senate, as expected
• European equities are positive across the board as investors digest the consequences of a split Congress, with US equity futures edging higher
• DXY lost the 96.00 handle as currency markets factor in the prospect of policy protraction and a more difficult passage for President Trump’s fiscal agenda through a divided Congress
• Looking ahead, highlights include weekly DoE crude...

• Democrats are projected to take control of the House after having gained an estimated 26 seats, while the Republicans are projected to have picked up a net 4 seats at the Senate
• A strong start for the Democrats initially weighed on US equity futures, although stock futures then recovered after further results and projections trickled in which suggested the unlikelihood of a Blue Tsunami
• EUR/USD and GBP/USD whipsawed overnight but head into the European session with mild gains at the expense of a...