01 Oct 2024, 11:24 by Newsquawk Desk
- Equities are mixed ahead of US ISM Manufacturing and JOLTS data; RTY marginally underperforms
- Dollar is firmer continuing the gains seen post-Powell on Monday, EUR was fairly unreactive to EZ Manufacturing PMIs/HICP
- USTs are firmer and back to pre-Powell levels, Bunds also gain but were unmoved by the EZ PMIs which were revised modestly higher but the overall growth narrative remains weak
- Crude continues to slip, XAU gains and base metals...
01 Oct 2024, 06:46 by Newsquawk Desk
- APAC stocks began the new quarter mixed amid a slew of data releases and several key market closures with Mainland China, Hong Kong and South Korea closed
- Fed Chair Powell hinted at a return to 25bp rate cuts and noted that the Fed is not in a rush to cut rates quickly.
- Israeli military said it began limited, localised and targeted raids against Hezbollah targets in the border area of southern Lebanon.
- European equity futures are...
30 Sep 2024, 11:13 by Newsquawk Desk
- European equities post losses to varying degrees, with autos hit after several guidance cuts; US equity futures are flat/subdued with the focus on Fed Chair Powell later.
- Dollar is slightly softer, Antipodeans benefit from the positivity surrounding China whilst the traditional havens CHF & JPY lag.
- Bonds are modestly softer to varying degrees; Bunds were not too reactive after the German Regional CPI metrics painted a picture of cooling Y/Y inflation ahead of...
30 Sep 2024, 06:56 by Newsquawk Desk
- APAC stocks were mixed heading into month-end amid the backdrop of recent geopolitical escalation and as participants digested a slew of data releases.
- Chinese PMI data was overall mixed but included a contraction in both official and Caixin Manufacturing PMIs.
- Reports suggest that Israeli forces are concentrated on the northern front and preparing for a ground invasion of Lebanon.
- European equity futures are indicative of a positive...
27 Sep 2024, 13:10 by Newsquawk Desk
- MON: Chinese NBS & Composite PMIs (Sep), Caixin PMIs (Sep), Japanese Retail Sales (Aug), German Retail Sales (Jun), UK GDP (Q2), Swiss KOF (Sep), German Flash CPI (Sep), UK Mortgage Approvals/Lending (Aug), US Dallas Fed Index (Sep), New Zealand NZIER (Q3) ; Canada Holiday.
- TUE: Riksbank Minutes, EZ/UK/US Final Manufacturing PMI (Sep), EZ Flash CPI (Sep), US ISM Manufacturing PMI (Sep), US JOLTS (Aug), Mainland China and Hong Kong market holiday.
- WED:...
27 Sep 2024, 11:03 by Newsquawk Desk
- European bourses are very modestly firmer, whilst US equity futures are mixed ahead of US PCE
- Dollar is stronger vs peers, but losing vs JPY after hawkish candidate Ishiba won the Japanese LDP leadership race to become the next Japanese PM
- Bunds outperform following softer-than-expected inflation metrics out of Spain & France; figures which led to further dovish repricing for the ECB’s October meeting
- Crude oil is modestly firmer with...
27 Sep 2024, 07:03 by Newsquawk Desk
- APAC stocks followed suit to the gains on Wall St; Chinese stimulus remained the main driving force overnight.
- Nikkei 225 and USD/JPY upside were seen as dovish LPD candidate Takaichi is said to face Ishiba in Japan's LDP runoff.
- Fed's Cook (voter) said upside risks to inflation have diminished and downside risks to employment have increased.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.3%...
26 Sep 2024, 11:22 by Newsquawk Desk
- Equities are entirely in the green, with optimism lifted amid Chinese stimulus efforts; MU +15% pre-market after strong earnings and solid guidance
- Dollar is softer, Antipodeans benefit from the risk-tone but weighs on the JPY
- USTs are flat, EGBs benefit on reports that ECB doves are pushing for an October cut and amid reports surrounding France’s fiscal situation
- Crude tumbles on constructive geopolitical updates, XAU and base metals...
26 Sep 2024, 06:57 by Newsquawk Desk
- APAC stocks shrugged off the subdued handover from Wall St and the recent geopolitical escalation, as some 'progress' was said to be made regarding a temporary ceasefire proposal and a 21-day ceasefire was proposed by US and France, while China benefitted again from stimulus.
- "Senior US officials have said that they expect a ceasefire deal to be implemented "in the coming hours" along Israel-Lebanon border", according to Walla News' Elster.
- China Politburo held...
25 Sep 2024, 11:31 by Newsquawk Desk
- Equity futures are generally modestly lower, giving back some of the prior day’s gains
- G10s are flat/lower against the Dollar to varying degrees, JPY underperforms with USD/JPY up to a 144.25 peak
- USTs are essentially flat, Gilts dip lower following a weak auction which also weighed on Bunds
- Crude is modestly lower, XAU is flat and base metals take a breather from the China stimulus-related gains on Tuesday
- Looking...
25 Sep 2024, 06:47 by Newsquawk Desk
- APAC stocks were mostly positive as Chinese markets continued to rally following the stimulus boost.
- Australian monthly CPI matched estimates and slowed to a 3-year low, although core inflation remained above the 2%-3% target.
- European equity futures are indicative of a lower cash open with the Euro Stoxx 50 future -0.3% after the cash market closed up by 1.1% on Tuesday.
- USD is broadly flat vs. peers, EUR/USD is eyeing 1.12 to the upside,...
24 Sep 2024, 11:17 by Newsquawk Desk
- European bourses are entirely in the green, with US futures also modestly firmer with sentiment lifted after China’s flurry of stimulus efforts
- PBoC Governor Pan announced to cut RRR by 50bps which will provide CNY 1tln worth of long-term capital and cut the 7-day reverse repo rate by 20bps to 1.50%, while he said they will guide LPRs lower and reduce the mortgage rate for existing mortgages
- Dollar is softer, EUR gains despite poor German Ifo data & JPY...
24 Sep 2024, 06:54 by Newsquawk Desk
- APAC stocks traded mostly higher following gains on Wall St. and China's various stimulus measures.
- PBoC cut the RRR and 7-day reverse repo rate, whilst also announcing measures for the property sector and stock market.
- RBA kept its Cash Rate Target unchanged at 4.35%, as expected, while it reiterated that it is not ruling anything in or out.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.5%...
23 Sep 2024, 11:10 by Newsquawk Desk
- European equities are mixed/modestly firmer, a theme which is also seen across US futures
- Dollar is firmer, benefiting from losses in the EUR after particularly poor French/German PMI metrics, AUD bid ahead of the RBA on Tuesday
- USTs remain steady ahead of its own PMI release, Bunds were lifted after poor EZ PMIs & Gilts gained after UK PMIs missed across the board, but still point towards a “soft landing” for the UK economy
- Crude is...
23 Sep 2024, 06:47 by Newsquawk Desk
- APAC stocks were mostly positive albeit with gains capped amid a lack of fresh macro drivers.
- Israel Defence Forces said during the weekend that it struck Hezbollah targets in Lebanon; added that strikes would continue and intensify.
- 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 1.5% on Friday.
- DXY is flat, AUD is the marginal outperformer, JPY the...
20 Sep 2024, 13:34 by Newsquawk Desk
- MON: Market Holiday: Japan (Autumnal Equinox); EZ, UK & US Flash PMIs (Sep), US National Activity Index (Aug)
- TUE: RBA Policy Announcement; German Ifo (Sep), US Consumer Confidence (Sep), Richmond Fed (Sep)
- WED: Riksbank & CNB Policy Announcements; Australian CPI (Aug), US Building Permits Revision (Aug), New Home Sales (Aug), UK CBI Trends (Sep)
- THU: SNB & Banxico Policy Announcements, BoJ Minutes (Jul), CBRT Minutes...
20 Sep 2024, 11:23 by Newsquawk Desk
- European bourses are entirely in the red, with the DAX 40 slightly underperforming as Mercedes Benz cuts guidance; US futures are modestly lower
- Dollar is flat, JPY underperforms after the BoJ kept rates unchanged (as expected), but with Ueda striking a dovish tone at his press conference
- Bonds are slightly bid, taking impetus from the BoJ announcement; Gilts initially underperformed vs peers after hotter-than-expected UK Retail Sales
- Crude...
20 Sep 2024, 06:55 by Newsquawk Desk
- APAC stocks mostly gained following the rally stateside where the S&P 500 and the Dow surged to fresh record highs as the dust settled after the Fed over-delivered in its first rate cut in four years and US data topped forecasts.
- BoJ kept its short-term policy rate unchanged at 0.25%, as expected with the decision made by unanimous vote, with no fireworks; USD/JPY was choppy before heading marginally lower, and 10-year JGBs were eventually subdued.
- PBoC...
19 Sep 2024, 11:32 by Newsquawk Desk
- European equities opened on a very strong footing and remain at elevated levels; US futures are bid, with the RTY outperforming post-Fed
- Dollar continues to sink, the typical haven currencies JPY & CHF lags, whilst Antipodeans outperform; the AUD also benefits from the region’s jobs report
- Bonds are incrementally lower (but off worst levels), Gilts remain steady ahead of the BoE policy announcement
- Crude benefits from the softer Dollar...
19 Sep 2024, 07:01 by Newsquawk Desk
- The Fed delivered a 50bps rate cut and the dot plot suggested a further 50bps of reductions this year.
- US indices finished marginally lower and yields higher with Powell stating that markets should not assume 50bps is the new pace.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +1.1% after the cash market closed lower by 0.5% on Wednesday.
- DXY was seen lower post-FOMC decision before...
18 Sep 2024, 11:34 by Newsquawk Desk
- European bourses are slightly lower whilst US futures see very modest gains ahead of the FOMC announcement
- Dollar is slightly softer, Kiwi outperforms, with JPY also stronger
- Bonds are at lows, Gilts underperform following the region’s UK inflation report which saw Services & Core Y/Y print above expectations
- Crude resides near lows and took another leg lower amid reports that Russia could hold off oil export cuts, XAU/base metals...
18 Sep 2024, 06:55 by Newsquawk Desk
- APAC stocks were mostly rangebound with participants lacking conviction heading into the crucial Fed policy decision.
- European equity futures are indicative of a softer cash open with the Euro Stoxx 50 future -0.2% after the cash market closed higher by 0.7% on Tuesday.
- DXY is lingering below the 101 mark, JPY is the clear outperformer across the majors with FX otherwise contained.
- Market pricing assigns a 65% chance of a 50bps Fed cut and a...
17 Sep 2024, 11:12 by Newsquawk Desk
- European equities are firmer across the board, with Retail outperforming; US futures gain, the NQ outperforms attempting to pare back the prior day’s losses
- Dollar is flat, EUR edged off best levels in reaction to poor ZEW data
- Bonds are firmer as markets digest another Timiraos piece, which further highlighted that the Fed has doubts regarding the magnitude of a cut
- Crude has given back early morning strength and is now slightly lower, XAU...
17 Sep 2024, 06:58 by Newsquawk Desk
- APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays.
- Money markets now price in a 67% probability of a 50bps Fed rate cut on Wednesday vs the 48% probability seen on Friday, via Reuters.
- US and Japan are nearing a deal to curb chip technology exports to China, according to...
16 Sep 2024, 11:25 by Newsquawk Desk
- European equities are mixed/flat, US equity futures edge slightly higher, though the RTY +0.8% outperforms
- Dollar continues to edge lower as markets weigh up the magnitude of the looming Fed cut, G10s gain vs the Dollar, USD/JPY slips below 140
- After last week's late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
- Bonds are incrementally firmer but with trade rangebound awaiting speak from ECB’s...