• European equities are softer across the board, with Tech lagging following poor Siltronic guidance, weighing on heavyweight ASML (-2.7%)
• US equity futures mirror price action in Europe, though the NQ slightly underperforms.
• Dollar is flat and awaiting US CPI; GBP is bid post-UK jobs data and CHF suffers after significantly cooler CPI
• Bonds are divergent, with USTs in a holding pattern ahead of US inflation, whilst Gilts were pressured on the...

• APAC stocks traded mixed albeit with a positive bias as several markets reopened from the extended weekend.
• European equity futures indicate a lower open with Euro Stoxx 50 future -0.3% after the cash market closed up 0.7% on Monday.
• DXY is steady above the 104 mark, USD/JPY lingers around 149.50, NZD lags post-inflation expectation survey.
• US President Biden said the US is working on a hostage deal that would lead to a period of calm...

• European equities are generally firmer, though the FTSE 100 lags, hampered by AstraZeneca; US equity futures are around flat, with slight outperformance in the RTY
• Dollar is marginally firmer, the Kiwi underperforms despite hawkish-leaning speak from RBNZ officials overnight
• Bonds are little changed amid catalyst thin trade and will likely take impetus from upcoming central bank speak
• Crude is softer on the session despite geopolitical...

• APAC stocks were subdued amid quiet weekend newsflow and mass holiday closures in the region.
• ECB Panetta said the time for a reversal of the ECB’s monetary policy stance is fast approaching.
• European equity futures indicate a mildly positive open with Euro Stoxx 50 future +0.3% after the cash market closed up 0.1% on Friday.
• DXY is steady around the 104 mark, EUR/USD is eyeing 1.08, USD/JPY sits on a 149...

Week Ahead 12th-16th February

• MON: BoC SLOS, Indian CPI (Jan), Export/Imports (Jan), Holiday: China (New Year), Hong Kong, Tokyo
• TUE: OPEC MOMR, Swedish Unemployment (Jan), UK Unemployment/Wages (Dec), Swiss CPI (Jan), EZ/German ZEW (Feb), US CPI (Jan), NFIB (Jan). Holiday: China (New Year), Hong Kong
• WED: Indonesian Presidential Election, UK CPI (Jan), Norwegian GDP (Dec), EZ Employment (Q4), Japanese GDP (Q4), Holiday: China (Spring...

• European bourses are mixed and trading around the unchanged mark, with slight underperformance in the CAC 40, hampered by losses in L’Oreal; US equity futures mirror European peers
• Dollar is incrementally firmer; Kiwi outperforms after ANZ lifts its RBNZ rate forecast
• Bonds are around flat awaiting US CPI Revisions, German & UK 10yr yields notched fresh YTD peaks
• Crude is holding near yesterday's high after soaring more than 3% in the...

• APAC stocks traded mixed and were mostly subdued in holiday-thinned conditions ahead of the Lunar New Year.
• European equity futures indicate a slightly softer open with Euro Stoxx 50 future -0.2% after the cash market closed up 0.7% on Thursday.
• DXY is a touch firmer in contained trade for the FX space, NZD outperforms following a hawkish ANZ call on the RBNZ.
• Crude futures took a breather after rallying by over 3% yesterday, whilst Bunds...

• European equities are firmer, with outperformance in the AEX; US equity futures meander around the unchanged mark, though the RTY continues to underperform
• Dollar is flat and pivots 104.00, JPY is softer after BoJ speak; Chinese CPI softer than expected
• Bonds are modestly weaker with specifics light into a US 30yr auction
• Crude is firmer in what has been a choppy session for the complex; XAU edging higher, albeit with gains...

• APAC stocks were ultimately mixed after the fresh record levels on Wall St where the S&P 500 touched just shy of the 5k level
• Participants also digested recent earnings releases and soft Chinese inflation data ahead of the Lunar New Year holiday
• RBI kept the Repurchase Rate unchanged at 6.50%, as expected and maintained its stance of remaining focused on the withdrawal of accommodation
• European equity futures indicate a slightly higher...

• European equities are mixed whilst US futures meander around the unchanged mark; the Russell underperforms as Moody’s downgrades NYCB’s rating
• Dollar is flat and holds just above 104.00, GBP the G10 outperformer
• Bonds are divergent, though the overall trend is bearish ahead of US supply
• Crude benchmarks are firmer and XAU holds around flat alongside base metals as we await updates on the ceasefire proposal
• Looking...

• APAC stocks were mostly positive after a decline in global yields and further Chinese support efforts; Hang Seng and Shanghai Comp were mixed despite early momentum.
• Moody's downgraded New York Community Bancorp's (NYCB) long-term issuer rating to junk status of Ba2 and said most ratings remain on review for a further downgrade.
• Fed's Mester (voter) said the Fed can lower rates later this year if the economy performs as expected and when the Fed cuts rates, it will...

• European equities are mixed with outperformance in the FTSE 100, post-BP earning; US equity futures in-fitting, NQ bid
• Dollar is marginally firmer and AUD the G10 outperformer following a “hawkish hold” at the RBA
• Bonds modestly firmer, though have been edging lower throughout the European morning
• Crude and XAU hold around the unchanged mark; base metals are propped up on Chinese stabilisation efforts
• Looking ahead,...

• APAC stocks were somewhat mixed as Chinese market stabilisation efforts offset the early headwinds from Wall Street.
• Fed SLOOS (Q4) noted that tighter standards and weaker demand were reported.
• RBA kept rates unchanged at 4.35% as expected, while it reiterated that a further increase in interest rates cannot be ruled out.
• European equity futures indicate a higher open with Euro Stoxx 50 future +0.4% after the cash market closed flat on...

• European equities are mixed, with clear outperformance in the FTSE MIB, propped up by UniCredit (+8.7%) post-earnings; US equity futures are modestly softer, though the RTY underperforms
• Dollar is firmer continuing Friday’s advances, which has been leading the EUR towards December lows.
• Bonds are softer post-NFP and Chair Powell’s weekend commentary as attention turns to US ISM & other Fed speak
• Crude futures are pressured by the firmer...

• APAC stocks were mostly subdued after last Friday's red-hot jobs report; Chinese regulators pledged to stabilise the market.
• Fed Chair Powell repeated his expectation that the March meeting is likely too soon to have confidence to start rate cuts.
• European equity futures indicate a contained open with Euro Stoxx 50 future flat after the cash market closed up 0.3% on Friday.
• DXY is contained around the 104 mark, EUR/USD is sub 1.08, USD/JPY...

Week Ahead 5th-9th February

• MON: Japanese Jibun Final Composite/Services PMI (Jan), Chinese Caixin Final Services PMI (Jan), German TradeBalance (Dec), EZ/UK/US Final Composite/Services PMI (Jan), US ISM Services PMI (Jan)
• TUE: RBA Policy Announcement, EIA STEO, US Democratic Primary - Nevada, German Industrial Orders (Dec), EZ Construction PMI (Jan), EZ Retail Sales (Dec), New Zealand Unemployment (Q4)
• WED: NBP Policy Announcement,...

• European equities are firmer taking impetus from gains on Wall Street; US equity futures are in the green, outperformance in the NQ post-earnings from Amazon (+6%) and Meta (+16.7%).
• Dollar is around flat awaiting impetus from US NFP; Aussie outperforms recouping the prior day’s downside.
• Bonds are softer giving back recent advances as attention turns to key US data
• Crude is firmer and finds some reprieve after hefty losses in the prior...

• APAC stocks mostly took impetus from the gains on Wall St where stocks were underpinned amid a softer yield environment.
• US equity futures were boosted after-hours following the big tech earnings (META +15%, AMZN +7%, AAPL -3%).
• European equity futures indicate a higher open with Euro Stoxx 50 future +0.8% after the cash market closed down 0.2% on Thursday.
• DXY sits around the 103 mark, AUD is attempting to recoup lost ground,...

• European equities are mixed, whilst US equity futures are firmer to varying degrees
• Dollar is marginally bid though off post-Powell highs; Aussie lags after weak building approvals data
• Bonds are mixed; USTs modestly higher whilst Bunds pare yesterday’s dovish data
• Crude is in the green pre-JMMC whilst base metals are lower across the board, in-fitting with the broader risk tone
• Looking ahead, US IJC & ISM...

• The Fed kept rates unchanged and removed the reference to possible additional rate hikes but also downplayed near-term cuts.
• APAC stocks were mixed after the losses on Wall St owing to banking sector fears and Fed Chair Powell's pushback against a March rate cut.
• Chinese Caixin Manufacturing PMI data topped forecasts, China's Finance Ministry said it will implement structural tax cuts in 2024.
• European equity futures indicate a steady...

• European bourses are lower with underperformance in the SMI post-Novartis earnings; US equity futures are mixed, though with clear underperformance in the NQ after MSFT, AMD & GOOG earnings
• Dollar continues its contained trade, AUD underperforms amid softer CPI data
• Bonds modestly firmer; Bunds off best levels post-German data
• Crude is weaker amid the downbeat risk tone; XAU in a holding pattern awaiting impetus from the...

• APAC stocks were mostly subdued amid a deluge of earnings releases and key data releases at month-end.
• Alphabet (GOOG) slumped 5.8% after advertising revenue missed, while Microsoft (MSFT) fell by 0.3% after Q3 More Personal Computing was guided below forecasts. 
• Hang Seng and Shanghai Comp underperformed following the latest Chinese PMI data in which Manufacturing PMI remained in contraction territory for a 4th consecutive...

• European equities are generally firmer, whilst US equity futures meander around the unchanged mark ahead of key earnings
• Dollar is around flat whilst the Pound lags with specifics light
• Bonds are firmer, though Bunds have been edging lower following hawkish EZ data
• Crude benchmarks are marginally firmer alongside Gold, awaiting geopolitical updates
• Looking ahead, US JOLTs, Consumer Confidence, Japanese Retail Sales,...

• APAC stocks traded mixed as weakness in China offset the momentum from Wall St's record highs.
• US Treasury expects to borrow USD 760bln in net marketable debt for the January-March period which is down USD 55bln from the October 2023 estimate.
• European equity futures indicate a higher open with Euro Stoxx 50 future +0.4% after the cash market closed up 0.1% on Monday.
• DXY is contained and continued to pivot around 103.50, EUR/USD remains on...

• European bourses are trading on a mixed footing and lack clear direction; US equity futures follow suit ahead of a busy week of risk events
• Dollar continues to firm, EUR a touch softer and Antipodeans bid despite a flimsy risk tone
• Bonds are bid amid dovish ECB speak as attention turns to US Treasury Financing Estimates
• Crude is modestly firmer as geopols remain in focus; US said three troops were killed by an Iran-linked drone attack near...