27 Nov 2024, 06:58 by Newsquawk Desk
- 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...
26 Nov 2024, 11:50 by Newsquawk Desk
- 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...
26 Nov 2024, 07:00 by Newsquawk Desk
- 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...
25 Nov 2024, 11:40 by Newsquawk Desk
- 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...
25 Nov 2024, 06:48 by Newsquawk Desk
- 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...
22 Nov 2024, 13:18 by Newsquawk Desk
- 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....
22 Nov 2024, 11:15 by Newsquawk Desk
- 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...
22 Nov 2024, 06:50 by Newsquawk Desk
- 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...
21 Nov 2024, 11:35 by Newsquawk Desk
- 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...
21 Nov 2024, 06:55 by Newsquawk Desk
- APAC stocks were mostly subdued after the indecisive lead from the US where geopolitics and Nvidia earnings were in the spotlight.
- NVIDIA was lower by 2.5% after hours despite top and bottom line beats; concerns cited over production levels and slowing growth rates.
- European equity futures are indicative of a slightly firmer cash open with the Euro Stoxx 50 future +0.3% after the cash market closed lower by 0.5% on Wednesday.
- DXY has...
20 Nov 2024, 11:30 by Newsquawk Desk
- Equities are entirely in the green as sentiment improves; NVDA earnings due after-hours.
- Dollar is back on a firmer footing, JPY underperforms and gives back the prior day’s haven-induced strength.
- Bonds are on the backfoot, and with clear underperformance in Gilts after the region’s hotter than expected CPI figures.
- Crude is incrementally firmer, XAU edges lower and base metals benefit from the risk tone.
- Looking...
20 Nov 2024, 06:50 by Newsquawk Desk
- APAC stocks traded mixed following the price swings seen across global markets on Tuesday in which the US indices staged a recovery.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 0.8% on Tuesday.
- USD is broadly firmer vs. peers, JPY lags across the majors, EUR/USD failed to sustain a move onto a 1.06 handle.
- President Biden approved the provision of...
19 Nov 2024, 11:30 by Newsquawk Desk
- Equities are entirely in the red with sentiment hit following remarks by Russia’s Kremlin, which said "Russia reserves the right to use nuclear weapons in an event of aggression".
- Dollar is firmer vs most peers, but weaker against the JPY which caught a bid owing to its safe-haven status.
- Bonds have soared to session highs following comments by the Russian Kremlin that it could respond to aggression in a nuclear manner.
- Crude is on the...
19 Nov 2024, 06:45 by Newsquawk Desk
- APAC stocks traded mostly in the green following the similar performance stateside although gains were capped amid relatively quiet newsflow.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.3% after the cash market closed lower by 0.1% on Friday.
- FX markets are broadly steady, DXY holds above 106, EUR/USD sits below 1.06, JPY is a touch firmer.
- Crude futures held on to the prior day's gains,...
18 Nov 2024, 11:15 by Newsquawk Desk
- European bourses are generally on the backfoot, US futures are mixed.
- Dollar is incrementally lower, JPY underperforms after BoJ Governor Ueda continued to signal a lack of urgency to hike rates.
- USTs are marginally lower whilst Bunds extend losses and slips below 132.00.
- WTI & Brent are firmer in what has been a choppy session, XAU eyes USD 2.6k to the upside.
- Looking ahead, ECB’s Lagarde, Lane & Fed’s...
18 Nov 2024, 06:45 by Newsquawk Desk
- APAC stocks began the week with a mildly positive following last Friday's tech-led declines on Wall St.
- European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.8% on Friday.
- FX markets are broadly contained with DXY, EUR/USD and USD/JPY on 106, 1.05 and 154 handles respectively.
- US President Biden’s administration lifted restrictions on Ukraine...
15 Nov 2024, 16:08 by Newsquawk Desk
- MON: G20 (Brazil)
- TUE: NBH Policy Announcement; RBA Minutes (Nov); EZ Indicator of Negotiated Wage Rates (Q3), EZ HICP (Final), US Building Permits/Housing Starts (Oct), Canadian CPI (Oct)
- WED: UK CPI (Oct), German PPI (Oct)
- THU: CBRT & SARB Policy Announcements; UK PSNB (Oct), US Initial Jobless Claims (w/e 16th Nov), Philadelphia Fed (Nov), Existing Home Sales (Oct), EZ Consumer Confidence Flash (Nov), Japanese CPI (Oct),...
15 Nov 2024, 11:15 by Newsquawk Desk
- European bourses are mixed vs initially opening entirely in the red; US futures sit in negative territory.
- DXY is on the backfoot and holds around 106.50, JPY outperforms.
- USTs are under pressure in a continuation of the price action seen following a hawkish-leaning Powell; Gilts bid after the UK’s downbeat GDP metrics.
- Crude is in the red, XAU is flat, whilst base metals hold a positive bias alongside the pullback in the...
15 Nov 2024, 06:45 by Newsquawk Desk
- APAC stocks traded with a predominantly positive bias albeit with gains capped following the uninspiring handover from Wall Street and as participants digested recent earnings releases and mixed Chinese activity data.
- Fed Chair Powell struck a hawkish tone as he stated that the economy is not sending signals that the Fed needs to be in a hurry to lower interest rates; money markets now price in around a 60% chance of a 25bps cut in December versus 80%...
14 Nov 2024, 11:15 by Newsquawk Desk
- European bourses gain with clear outperformance in the Euro Stoxx 50, lifted by gains in ASML +5.2% after it reiterated its 2030 sales outlook; US futures are modestly firmer whilst the RTY outperforms.
- Dollar continues to extend gains having surpassed 107.00, USD/JPY tops 156.00.
- Bonds are subdued with slight underperformance in Gilts ahead of Fed Chair Powell and BoE Governor Bailey.
- Metals succumb to the Dollar strength while crude trades...
14 Nov 2024, 07:03 by Newsquawk Desk
- APAC stocks were mostly subdued following the indecisive lead from Wall Street. DXY extended above 106.50 and 10yr UST futures were lacklustre, while there was a lack of fresh major catalysts.
- Fed's Musalem (2025 voter) noted recent information suggests that the risk of inflation moving higher has risen and risks to the job market remain unchanged or have fallen.
- Fed's Schmid (2025 voter) said "it remains to be seen" how much more the Fed will cut rates and where...
13 Nov 2024, 11:20 by Newsquawk Desk
- European bourses are mostly on a modestly firmer footing; US futures are incrementally lower ahead of US CPI.
- Dollar is flat, JPY marginally underperforms with USD/JPY briefly topping 155.00.
- USTs are incrementally firmer and ultimately in stasis ahead of US CPI; Gilts continued to underperform.
- Crude and precious metals gain but base metals remain subdued.
- Looking ahead, US CPI, EIA STEO, Speakers including Fed’s...
13 Nov 2024, 06:50 by Newsquawk Desk
- APAC stocks were mostly subdued following the negative lead from the US alongside higher yields.
- European equity futures are indicative of a lower cash open with the Euro Stoxx 50 future -0.4% after the cash market closed lower by 2.3% on Tuesday.
- DXY remains above the 106 mark, USD/JPY has just crossed above the 155 level, EUR/USD sits just above 1.06.
- Bunds are lower, crude is marginally firmer, BTC has pulled back from its record...
12 Nov 2024, 11:35 by Newsquawk Desk
- Equities are on the backfoot; the RTY underperforms, paring some of the Trump-induced strength in the prior session.
- Dollar continues to advance higher, GBP on the backfoot following mixed jobs data which saw an uptick in unemployment but wages remain sticky.
- Bonds are mixed, USTs are flat ahead of several Fed speakers whilst Bunds are bid after poor German ZEW figures.
- Crude holds an upward bias, XAU/base metals are pressured by the...
12 Nov 2024, 06:50 by Newsquawk Desk
- APAC stocks were ultimately mixed and failed to sustain the momentum from Wall St.
- 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 1.1% on Monday.
- DXY remains on the front foot, EUR/USD is stuck on a 1.06 handle, USD/JPY briefly moved above the 154 mark.
- Bitcoin was choppy overnight after the prior day's surge which lifted prices above the USD 89k level...