Newsquawk

Blog

  • MON: Eurogroup Meeting; Chinese CPI & PPI (Nov), EZ Sentix (Dec), US Employment Trends (Nov)
  • TUE: RBA Policy Announcement, EIA STEO; German Final CPI (Nov), Norwegian CPI (Nov), US NFIB (Nov), Chinese Trade Balance (Nov), Chinese Central Economic Work Conference
  • WED: BoC & BCB Policy Announcement, OPEC MOMR; South African CPI (Nov), US CPI (Nov)
  • THU: ECB & SNB Policy Announcements, Norges Bank Regional Network, IEA OMR;...
Categories:
  • European stocks are mixed and US futures trade sideways amidst a lack of fresh pertinent catalysts in the run-up to the US jobs report.
  • USD is a touch firmer vs. most peers in the run-up to today's NFP print, EUR's rally vs. the USD has paused for breath, JPY and Antipodeans are softer.
  • USTs are a touch lower following yesterday's flattening of the curve. Fresh macro drivers for the US are on the light side in the run-up to today's NFP...
Categories:
  • APAC stocks were mixed with some cautiousness in the region after the weak lead from Wall St and ahead of the key US jobs data.
  • European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.3% after the cash market closed higher by 0.7% on Thursday.
  • DXY is a touch firmer but still on a 105 handle, antipodeans marginally lag, USD/JPY lingers around 150.
  • Bunds have nursed some of the prior day's declines,...
Categories:
  • European bourses opened flat but started grinding higher shortly after the open despite relatively quiet newsflow; France's CAC 40 shrugged off the vote of no confidence which played out as expected.
  • USD remains on the backfoot vs. peers following yesterday's ISM-induced move in yields; EUR on a firmer footing vs. the USD with not much in the way of follow-through selling from the collapse of the French government.
  • Crude futures holding a modest upward bias after...
Categories:
  • APAC stocks traded mixed and partially sustained the momentum from the fresh record levels on Wall St where tech led the advances; European equity futures are indicative of a flat/subdued cash open.
  • Fed Chair Powell said they are on a path to more neutral rates over time and though downside risks are less than thought, the Fed can afford to be cautious in finding neutral.
  • French government lost a no-confidence motion as lawmakers voted 331 out of 574 current members...
Categories:
  • European bourses are mostly trading in positive territory; US futures tilt higher ahead of Powell and a busy data slate.
  • USD is broadly firmer vs. peers, AUD lags post-GDP, and GBP was weighed on by commentary from BoE’s Bailey who said he sees four 25bps cuts in 2025; a move which has since pared.
  • European paper awaits French no confidence vote at 15:00 GMT.
  • Crude holds an upward bias, WSJ reports that Saudi aims to keep oil prices elevated...
Categories:
  • APAC stocks were mostly subdued with underperformance in South Korea following the martial law declaration and backtrack.
  • South Korean President Yoon announced on Tuesday the lifting of martial law after parliament voted to block it.
  • European equity futures are indicative of a quiet cash open with the Euro Stoxx 50 future flat after the cash market closed higher by 0.7% on Tuesday.
  • USD is mixed vs. peers, AUD lags post-Australian GDP data,...
Categories:

The Newsquawk Europe Market Open, available on Capital.com  

Categories:
  • European bourses are entirely in the green; US futures are essentially flat ahead of US JOLTS and Fed speak.
  • USD is broadly softer vs. peers, EUR/USD reclaims 1.05.
  • US yield curve steepens ahead of JOLTS, OATs await Wednesday's confidence vote
  • Crude climbs higher, base metals benefit from the risk tone and softer USD.
  • Looking ahead, US JOLTS, Speakers including Fed’s Goolsbee, Daly, Kugler.
Categories:
  • APAC stocks were mostly positive as the region took impetus from the fresh record highs in the S&P 500 and the Nasdaq.
  • Fed's Waller said he leans toward supporting a cut in December, Bostic said December decision is not preordained.
  • European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed higher by 0.9% on Monday.
  • DXY is net higher with the USD showing differing...
Categories:
  • European bourses began the session in negative territory, but sentiment quickly improved to show a mostly positive picture in Europe; US futures modestly lower.
  • Dollar is propped up by further Trump tariff threats, EUR dragged by political uncertainty and tests 1.05 to the downside.
  • OATs in focus as the French gov't awaits Le Pen's decision; USTs are slightly lower ahead of US ISM Manufacturing PMIs.
  • WTI & Brent are on a firmer footing...
Categories:
  • SAT: Chinese NBS PMIS
  • MON: Chinese Caixin Final Manufacturing PMI (Nov), EZ, UK & US Final Manufacturing PMI (Nov), US ISM Manufacturing PMI (Nov), Construction Spending (Oct)
  • TUE: Swiss CPI (Nov), US JOLTS (Oct)
  • WED: NBP Policy Announcement; Australian Real GDP (Q3), China Caixin Services PMI (Nov), ES, UK & US Final Composite & Services PMIs (Nov), EZ PPI (Oct), US ADP (Nov), US ISM Services PMI, Factory Orders...
Categories:
  • European bourses near unchanged while US futures are modestly firmer post-Thanksgiving
  • USD knocked by a stronger JPY. EUR unreactive to Flash HICP
  • Fixed benchmarks in the green, OATs in focus awaiting a Le Pen decision
  • Crude diverges given the lack of settlement but benchmarks are at the lower-end of c. USD 1/bbl parameters
  • Metals in the green, gold gleans support from the USD and punchy language around...
Categories:
  • APAC stocks traded mixed albeit with a slightly positive bias in the absence of a lead from Wall Street.
  • Tokyo CPI data, seen as a leading indicator of nationwide price trends, supports the case for the BoJ to resume rate hikes next month.
  • USD is softer vs. peers with JPY  leading on account of Tokyo inflation data; USD/JPY briefly broke below 150.
  • European equity futures are indicative of a contained cash open with the Euro Stoxx 50...
Categories:
  • APAC stocks traded mixed after the subdued lead from Wall St where stocks retreated heading into Thanksgiving and month-end.
  • European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.6% after the cash market closed lower by 0.6% on Wednesday.
  • USD is broadly firmer vs. peers following yesterday's broad-based selling.
  • Bunds are a touch higher heading into the European open, crude futures are...
Categories:
  • European equities on the back foot with hawkish remarks from Schnabel weighing, US futures mixed into a packed data docket
  • JPY outperforms with the NZD a close second after the RBNZ, EUR lifted by Schnabel; DXY pressured as such
  • Fixed benchmarks in the green and towards highs though Bunds were dented by ECB speak, OAT-Bund yield spread at its highest since 2012
  • Crude benchmarks are modestly firmer but in narrow ranges awaiting updates around...
Categories:
  • APAC stocks were mixed after the S&P 500 and DJIA posted fresh record highs but the small-cap Russell 2000 underperformed.
  • FOMC Minutes noted uncertainty over the neutral rate level makes it appropriate to reduce restraint gradually; some said the Fed could pause easing.
  • Israel’s cabinet approved the ceasefire deal with Lebanon; ceasefire has since gone into effect.
  • European equity futures are indicative of a negative cash open with...
Categories:
  • Trump announced he is to charge Mexico and Canada a 25% tariff on all products and will charge China 'an additional 10% Tariff, above any additional Tariffs'.
  • European bourses in the red on the above, US futures initially pressured but have since made their way back to unchanged/marginally firmer
  • USD began on the back foot but has since retreated markedly, JPY outperforms while CAD is the G10 laggard
  • Fixed benchmarks in the red pulling back...
Categories:
  • APAC stocks were ultimately mixed but with early jitters seen following Trump's tariff remarks.
  • Trump announced he is to charge Mexico and Canada a 25% tariff on all products and will charge China 'an additional 10% Tariff, above any additional Tariffs'.
  • European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.9% after the cash market closed higher by 0.2% on Monday.
  • Israeli official said the Security...
Categories:
  • European bourses & US futures begin the week on the front-foot, as markets welcome the nomination of Scott Bessent as Trump's Treasury Secretary.
  • USD pressured and USTs bid following this, with the DXY sub-107.00 and the US yield curve bull-flattening
  • FX peers generally benefit from the USD pressure, JPY outperformed overnight on favourable yield action and approval of Japanese stimulus
  • Crude in the red on Bessent, Israel-Lebanon and...
Categories:
  • APAC stocks began the week mostly higher following last Friday's gains stateside; Nikkei 225 boosted by stimulus approval
  • President-elect Trump picked hedge-fund manager Scott Bessent as Treasury Secretary; seen as a more market-friendly option
  • European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.7% after the cash market closed higher by 0.7% on Friday
  • USD is softer vs. all major peers, DXY sits...
Categories:
  • MON: German Ifo (Nov), US National Activity Index (Oct)
  • TUE: FOMC Minutes (Nov); US New Home Sales (Oct), Richmond Fed (Nov)
  • WED: RBNZ Policy Announcement; Australian CPI (Oct), German GfK (Dec), US GDP 2nd (Q3), PCE Prices Prelim. (Q3), PCE Price Index (Oct), Initial Jobless Claims (23rd Nov), Durable Goods (Oct)
  • THU: US Holiday: Thanksgiving. CBRT Minutes (Nov); EZ M3 (Oct), EZ Consumer Confidence Final (Nov), German CPI Prelim....
Categories:
  • Equities began the session on a firmer footing but now reside in negative territory after dismal EZ PMI metrics.
  • USD firmer and ultimately benefiting from poor EZ PMIs which forced EUR/USD briefly onto a 1.03 handle. Sterling hit on its own data and Retail Sales beforehand.
  • Bonds soar in reaction to dire EZ PMIs which have boosted the odds of a 50bps ECB cut.
  • Crude is slightly firmer, XAU bid and base metals hit by...
Categories:
  • US stocks ultimately finished higher with APAC mostly sustaining this momentum though China lagged
  • DXY contained but remains above 107.00, EUR below 1.05 and Cable near 1.2550
  • Fixed benchmarks are firmer but only modestly so as we await Flash PMIs
  • Crude underpinned by ongoing geopolitical tensions as Russia fired a new medium-range ballistic missile
  • US President-elect Trump considers Kevin Warsh to serve as Treasury...
Categories:
  • Equities generally modestly lower; NVDA -3% pre-market despite headline beats as Q4 guidance disappoints.
  • Ukraine’s airforce announced that Russia launched an ICBM, Ukrainian media specified it was a RS-26 missile; however, CNN reports that ICBM usage has not been confirmed.
  • Dollar is slightly firmer, JPY outperforms benefiting from the risk-aversion triggered by tensions between Russia and Ukraine.
  • Bonds are benefiting from the geopolitical...
Categories: