• 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

• Asian equities were higher across the board amid trade-optimism, Mainland China outperformed with Shanghai Comp. above 3000
• WSJ reported that US-China trade deal is at its final stages, whilst China said foreign investment laws will strengthen IP protection
• 1922 Committee Chairman Brady shifted his stance on PM May’s Brexit deal, EU’s Chief Negotiator Barnier said a Brexit delay is needed
• In FX markets, DXY opened weaker after President Trump said the USD is “too...

• Major European indicies are in the green [Euro Stoxx 50 +0.8%], following from the positive sentiment in Asia
• Dollar somewhat stronger, as safe havens suffer on risk sentiment
• China’s Caixin Manufacturing PMI beat expectations, but remains in contraction
• Looking ahead highlights include, US Core PCE, US ISM Manufacturing PMI, Canadian GDP, Fed’s Bostic

Asian stock kicked the month off on the front foot, Nikkei 225 outperformed, Chinese Caixin Manufacturing PMI beat forecast but remained in contraction

• US President Trump and North Korean Leader Kim Jong-Un failed to reach an agreement
• Major European equities [Euro Stoxx 50 U/C] trim opening losses ahead of US entrance to market
• Looking ahead, highlights include; US GDP & Chicago PMI, Fed’s Clarida, Bostic, Harker & Kaplan

• Asian stocks were mixed following a similar lead from Wall Street, China Manufacturing PMI contracted for a third-straight month
• PM May avoided a Parliamentary showdown yesterday by agreeing to hold a vote on March 14th on whether to delay Brexit, if Parliament has rejected her deal and leaving without a deal
• UK government is reportedly mulling bringing the Brexit meaningful vote forward to next week; according to rumours cited by BBC’s Chief Political Editor
• In FX markets, DXY...

• European equities are subdued as the risk tone deteriorates due to escalating tensions between Pakistan and India
• Sterling has been boosted, with cable having surpassed 1.33 ahead of today’s amendment votes
• Dollar has slipped somewhat ahead of Fed Powell testimony part 2; with yesterday’s testimony emphasising the patient stance
• Looking ahead, highlights include, Canadian CPI, US Factory Orders, Fed’s Powell testifying before the House, earnings from...

Asian equities posted firm gains following a subdued lead from Wall Street, energy stocks outperformed