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Newsquawk

Blog

Original insights into market moving news

[PODCAST] US Open Rundown 6th December 2018

06 Dec 2018, 12:04 by Newsquawk Desk

  • Crude collapses as OPEC+ and Saudi assert that there is no rush to cut, and 1.3mln BPD is “excessive
  • Huawei CFO arrested on Iranian sanction violations hints at further trade tensions as the bearish market sentiment takes hold
  • Looking ahead, highlights include ADP Employment, Initial Jobless Claims, ISM Non-Manufacturing Data, Durable Goods (R), Factory Orders and DoEs, Canadian Trade Balance, BoJ's Kuroda, Fed's Powell, Quarles, Bostic,...
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[PODCAST] EU Open Rundown 6th December 2018

06 Dec 2018, 06:51 by Newsquawk Desk

  • Asian stocks were lower across the board for a 3rd consecutive day with sentiment dampened after the US market closure and reports that Canada arrested Huawei’s CFO at the request of US authorities
  • The potential ramifications for US-China trade discussions weighed heavily on US equity futures and forced the CME to intervene to prevent a harder drop
  • UK PM May is being pushed by cabinet members to postpone next week's Parliament vote on Brexit amid...
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[PODCAST] US Open Rundown 5th December 2018

05 Dec 2018, 12:27 by Newsquawk Desk

  • European bourses (Eurostoxx -0.9%) have followed suit from their US and Asia-Pac counterparts as trade-inspired optimism continues to fade
  • Brexit legal advice states "backstop could mean the UK is subject to protracted and repeating rounds of negotiations"
  • Broad dollar and DXY have handed back some of Tuesday’s pronounced gains made amidst yesterday’s Wall St. selloff
  • Looking ahead, highlights include, BoC...
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[PODCAST] EU Open Rundown 5th December 2018

05 Dec 2018, 06:51 by Newsquawk Desk

  • Asian stock markets were pressured following the sell off on Wall St where doubts regarding a US-China trade deal saw all US majors drop over 3%
  • China’s Mofcom declared the US-China trade meeting as successful, although were said to be puzzled and irritated by the Trump administration's triumphant rhetoric
  • UK Government was defeated in the Commons after being found in contempt of Parliament, with MPs also granted more power over the next Brexit...
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[PODCAST] US Open Rundown 4th December 2018

04 Dec 2018, 12:20 by Newsquawk Desk

  • European equities have kicked the session off with modest losses (Eurostoxx 50 -0.5%) as markets take a breather from yesterday’s “trade truce” inspired gains
  • DXY pulling back further from 97.000 to register a fresh post-G20 low of 96.372
  • Oil surged on source reports of a 1.3mln BPD minimum cut, before pairing gains after KSA Energy Minister watered down cut expectations
  • Looking ahead, highlights include weekly...
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[PODCAST] EU Open Rundown 4th December 2018

04 Dec 2018, 06:54 by Newsquawk Desk

  • Asian stocks traded mostly negative as the relief rally fizzled out in the region with investors quick to book their recent profits.
  • In FX markets, USD softened against its major counterparts with the DXY back below the 97.00 level amid a decline in US yields, which benefitted both EUR/USD and GBP/USD
  • Italy's Deputy PMs Di Maio and Salvini are said to be open to a possible 2% deficit. However, Italian press noted that a budget deficit at 2% is not low...
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[PODCAST] US Open Rundown 3rd December 2018

03 Dec 2018, 12:07 by Newsquawk Desk

  • US President Trump and Chinese President Xi Jinping announced a truce at the G20 in which the US agreed to delay hiking tariffs on USD 200bln of Chinese goods to 25% for 90 days
  • Russia President Putin spoke with Saudi Arabia’s Crown Prince in which they agreed to extend the OPEC+ agreement, although haven’t decided on the precise volume of production cuts
  • Looking ahead, highlights include US Markit Manufacturing PMIs, Fed’s Quarles,...
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[PODCAST] EU Open Rundown 3rd December 2018

03 Dec 2018, 06:58 by Newsquawk Desk

  • US President Trump and Chinese President Xi Jinping announced a truce at the G20 in which the US agreed to delay hiking tariffs on USD 200bln of Chinese goods to 25% for 90 days
  • Russia President Putin spoke with Saudi Arabia’s Crown Prince in which they agreed to extend the OPEC+ agreement, although haven’t decided on the precise volume of production cuts
  • Italian PM Conte is reportedly preparing for a deficit of 1.9%-2.0%, while Italian Deputy...
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[PODCAST] US Open Rundown 30th November 2018

30 Nov 2018, 11:59 by Newsquawk Desk

  • Italian QQ GDP contraction weighs on BTP’s as Bund-BTP spread retests 300bps
  • Double trouble for Deutsche bank as MS downgrades EU banking stocks and probe enters second day
  • EU equity indices largely in the red and core EU bonds in the green in skittish trade ahead of G20
  • Looking ahead, highlights include, Canadian GDP, Chicago PMI, ECB's Draghi, Mersch & Coeure, Fed's Williams...
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[PODCAST] EU Open Rundown 30th November 2018

30 Nov 2018, 06:57 by Newsquawk Desk

  • Asian stocks traded mixed amid a cautious global risk tone ahead of the US-China showdown at the G20 and as participants digested disappointing Chinese PMI data
  • FOMC Minutes stated almost all policy makers said rate hikes likely warranted "fairly soon" and it could be appropriate at future meetings to emphasise more greatly on data
  • UK PM May is turning to Eurosceptics in her cabinet to launch a last gasp effort to sell her compromise Brexit deal,...
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[PODCAST] US Open Rundown 29th November 2018

29 Nov 2018, 12:09 by Newsquawk Desk

  • European equities (Eurostoxx 50 +0.1%) initially piggybacked on the optimism seen on Wall St and during the Asia-Pac session as perceived dovish rhetoric by Fed Chair Powell continues to guide markets.
  • Chinese President Xi is expected to offer greater market access and fewer subsidies to state firms when he meets with US President Trump at the G20
  • Looking ahead the highlights are, German National CPI, US PCE Price Index and Jobless data, FOMC Minutes,...
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[PODCAST] EU Open Rundown 29th November 2018

29 Nov 2018, 07:05 by Newsquawk Desk

  • Asian stocks traded mostly positive after risk appetite was ignited by Fed Chair Powell’s dovish comments which spurred hopes the Fed may begin to slow down on its hiking cycle
  • In FX markets, the USD was pressured post-Powell with the DXY back below 97.00 which led EUR/USD and GBP/USD to reclaim the 1.1300 and 1.2800 handles respectively
  • EU could give Italy more time before triggering the Excessive Deficit Procedure (EDP); according to La Repubblica
  • Looking ahead, highlights...
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[PODCAST] US Open Rundown 28th November 2018

28 Nov 2018, 12:02 by Newsquawk Desk

  • European equities (Eurostoxx 50 +0.3%) have held on to opening gains seen in the wake of the upbeat US and Asia-Pac sessions, despite lingering trade concerns.
  • EU Commission will begin disciplinary action on Italy regarding its debt before Christmas; but Italy remain optimistic that a deal can be struck with the EC
  • Saudi Energy Minister Al Falih said that Saudi cannot and will not reduce output on their own.
  • Looking ahead,...
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[PODCAST] EU Open Rundown 28th November 2018

28 Nov 2018, 07:03 by Newsquawk Desk

  • Asian equity markets traded mostly positive following a similar lead from Wall St. but with the session initially mired by lingering trade uncertainty
  • White House Economic Advisor Kudlow said President Trump could hike tariffs if no constructive talks occur at G20, however, Trump remains open to a deal
  • UK PM May is said to have backed down regarding attempts to stop lawmakers from making changes to her Brexit plan
  • EU Commission...
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[PODCAST] US Open Rundown 27th November 2018

27 Nov 2018, 11:46 by Newsquawk Desk

  • US President Trump said he still intends to go ahead with raising tariffs on China imports from 10% to 25% and that it was highly unlikely he would accept China’s request to refrain from the increase.
  • Italy's League economic advisor Siri says Italy are considering reducing the budget deficit to 2.2-2.3%
  • Senior UK lawmaker Fallon says it may be possible to delay the date the UK leaves the EU to negotiate a better deal.
    • ...
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[PODCAST] EU Open Rundown 27th November 2018

27 Nov 2018, 06:56 by Newsquawk Desk

  • Asian equity markets were mostly positive as the region took impetus from the performance on Wall St, where all majors finished with firm gains
  • US President Trump suggested an intention to proceed with raising tariffs on China imports from 10% to 25% and warned over tariffs on the remaining USD 267bln of Chinese imports if talks fail
  • US President Trump said it sounds like the Brexit deal is a good deal for the EU and that the UK may not be able to trade with...
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[PODCAST] US Open Rundown 26th November 2018

26 Nov 2018, 11:59 by Newsquawk Desk

  • European equities started the week on the front foot (Eurostoxx 50 +1.1%) following the upbeat performance experienced over in Asia
  • The Italian government are discussing reducing the 2019 deficit target to 2.0-2.1% from 2.4%; according to a government source
  • The European Council released its statement that endorsed UK PM May’s Brexit deal, as expected
  • Looking ahead, highlights include ECB’s Coeure, BoE Governor Carney...
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[PODCAST] EU Open Rundown 26th November 2018

26 Nov 2018, 07:01 by Newsquawk Desk

  • Asian equities and US index futures began the week mostly positive as stock markets picked themselves up from the Thanksgiving holiday lull
  • The European Council released its statement that endorsed UK PM May’s Brexit deal, as expected
  • EU officials were quick to warn that there is no plan B on offer for the UK and that voters are mistaken if they think that voting ‘no’ to the deal will get them a better offer
    • ...
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[PODCAST] US Open Rundown 23rd November 2018

23 Nov 2018, 11:55 by Newsquawk Desk

  • 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...

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[PODCAST] EU Open Rundown 23rd November 2018

23 Nov 2018, 07:00 by Newsquawk Desk

  • 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...
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[PODCAST] EU Open Rundown 22nd November 2018

22 Nov 2018, 06:57 by Newsquawk Desk

  • 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
    • ...
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[PODCAST] US Open Rundown 21st November 2018

21 Nov 2018, 12:08 by Newsquawk Desk

  • 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...
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[PODCAST] EU Open Rundown 21st November 2018

21 Nov 2018, 07:03 by Newsquawk Desk

  • 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...
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[PODCAST] US Open Rundown 20th November 2018

20 Nov 2018, 12:02 by Newsquawk Desk

  • 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

ASIA

Asian stock markets were lower across the board as the risk...

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[PODCAST] EU Open Rundown 20th November 2018

20 Nov 2018, 07:08 by Newsquawk Desk

  • 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,...
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