06 Apr 2023, 11:28 by Newsquawk Desk
- European bourses are incrementally firmer while US futures are slightly softer in tentative pre-Easter/NFP trade.
- APAC handover was softer though Chinese Caixin data stemmed the downside.
- DXY is firmer though off the 102.05 peak with antipodeans/petro-FX softer while CHF leads with peers otherwise contained.
- EGBs have continued the week's trend and spiked to fresh highs post-Construction PMIs, USTs little changed by...
06 Apr 2023, 06:50 by Newsquawk Desk
- APAC stocks were mostly subdued amid the soft Wall St handover, albeit with the downside stemmed by Chinese Caixin Services PMI.
- RBI kept the Repurchase Rate unchanged at 6.50% (exp. 25bps hike) via unanimous decision.
- European equity futures are indicative of a flat open with the Euro Stoxx 50 unchanged after the cash market closed down 0.4% on Wednesday.
- DXY sits just above 102, EUR/USD is back on a 1.08 handle, antipodeans lags across the...
05 Apr 2023, 11:25 by Newsquawk Desk
- European bourses are mixed but with a negative skew while US futures reside just below the neutral mark.
- DXY trades either side of 101.50 with NZD initially outperforming after hawkish-RBNZ action, AUD lags.
- Fixed benchmarks are comparably contained, though pressured, with concession & RBNZ perhaps factoring.
- Crude futures have eased off of APAC highs, given the above, with focus on geopolitics/high-level...
05 Apr 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mixed after the negative lead from Wall St with trade also hampered by the closures in the Greater China region.
- RBNZ delivered a more aggressive than expected rate hike of 50bps and signalled a further rate increase to return inflation to its target.
- European equity futures are indicative of a marginally lower open with the Euro Stoxx 50 -0.2% after the cash market closed up 0.1% on Tuesday.
- FX markets were...
04 Apr 2023, 11:27 by Newsquawk Desk
- Equities have picked-up most recently after a relatively contained European morning with fresh drivers light
- GBP leads the G10-FX space to the USD's detriment, while AUD lags post-RBA despite downside being initially capped
- Fixed income is pressured with concession perhaps factoring while the 2.30% and 3.50% yield levels proving sticky
- Crude remains underpinned by the weekend's OPEC adjustment; focus otherwise on Iraq exports and...
04 Apr 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mostly positive but with gains limited following the indecisive mood stateside.
- RBA kept rates unchanged at 3.60%, as expected; board expects some further tightening may well be needed.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.1% on Monday.
- DXY is a touch firmer and holding above 102, EUR/USD lingers below 1.09, AUD marginally lags...
03 Apr 2023, 11:22 by Newsquawk Desk
- Crude outperforms after the weekend announcement of a surprise voluntary OPEC+ output cut until end-2023.
- Equities are broadly mixed/tentative as markets digest elevated oil prices against the potential inflation/Central Bank implications.
- Amidst this, the FTSE 100 outperforms while the NQ lags; APAC trade was firmer but capped by soft data release.
- USD derived initial support from the above and yield moves, though the DXY is well off best...
03 Apr 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive amid strength in the energy sector although gains in the broader market were capped as participants digested disappointing Chinese Caixin Manufacturing PMI.
- Crude rose following the surprise voluntary output cuts by OPEC+ members totalling over 1mln bpd from May through to year-end.
- Fed’s Waller (Voter) said the recent data is consistent with the idea that inflation can be brought down quickly with relatively little harm to the jobs...
31 Mar 2023, 14:44 by Newsquawk Desk
- MON: Japanese Tankan Survey (Q1), Caixin Manufacturing PMI Final (Mar), EZ/UK/US Final Manufacturing PMI (Mar), US ISM Manufacturing PMI (Mar).
- TUE: RBA Announcement, South Korean CPI (Mar), US Durable Goods R (Feb).
- WED: RBNZ Announcement; Hong Kong Market Holiday, EZ/UK/US Final Services and Composite PMI (Mar), US ADP Employment (Mar), US ISM Services PMI (Mar).
- THU: Chinese Caixin Services PMI (Mar), Canadian Ivey PMI (Mar),...
31 Mar 2023, 11:17 by Newsquawk Desk
- European bourses are slightly firmer following APAC/post-HICP; US more tentative pre-PCE.
- EZ HICP YY cooled more than expected while the core measures were in-line causing EGB upside.
- Specifically, Bunds spiked to a 135.64 peak with ECB pricing easing slightly for May.
- EUR saw fleeting movement while USD remains bid with JPY pressured into month-end.
- Commodities fairly contained amid numerous geopolitical updates...
31 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly firmer after taking impetus from the tech-led gains on Wall Street and better-than-expected Chinese PMI figures.
- Chinese Manufacturing PMI topped forecasts and Non-Manufacturing PMI rose to its highest since 2011.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 1.3% on Thursday.
- DXY is holding above the 102 mark, FX markets are...
30 Mar 2023, 11:10 by Newsquawk Desk
- European bourses are higher following cooler German-state/Spanish inflation metrics
- US futures hang onto Wednesday's upside with current gains more contained vs European peers
- USD softer with Fed speak ahead to the modest benefit of G10 peers, GBP leads with Cable above 1.2350
- Bunds led an initial rally on the inflation figures, though this has since dissipated with benchmarks now near unchanged
- Commodities benefit...
30 Mar 2023, 06:49 by Newsquawk Desk
- Nasdaq 100 entered a technical bull market after gaining 20% from its December low and the SPX closed above its 50dma for the first time in over three weeks.
- APAC stocks traded mixed as the region only partially sustained the momentum from the US.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 1.5% on Wednesday.
- FX markets are contained with the DXY steady above 102.50,...
29 Mar 2023, 11:10 by Newsquawk Desk
- European bourses/US futures are firmer as banking concerns continue to dissipate while tech outperforms.
- Upside in tech names follows updates from Infineon and Micron, MU +2.5% pre-market.
- DXY is erring lower and is sub-102.50 despite marked AUD & JPY pressure as EUR & GBP remain resilient.
- ECB's Lane says to ensure that inflation falls to 2%, further interest rate hikes are required under the scenario expected by the...
29 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive albeit with most major indices rangebound amid a lack of fresh macro drivers.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.1% on Tuesday.
- DXY is contained just above the 102.50 mark, JPY is the standout laggard in G10 FX, AUD a touch lower post-CPI.
- Softer-than-expected Australian CPI data supported the case for the RBA to pause at next...
28 Mar 2023, 11:25 by Newsquawk Desk
- European bourses were initially firmer in a continuation of the APAC tone; however, benchmarks have tilted slightly red as Banking names pare gains
- Stateside, futures are similarly softer ahead of the Senate Banking Committee hearing on the recent banking turmoil
- DXY is softer in relatively modest parameters with Antipodeans and JPY leading while CHF lags
- EGBs and USTs remain lower given the stronger APAC handover/European start, but as...
28 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mixed with a mild positive bias as global banking sector fears continued to dissipate.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.3% on Monday.
- In FX, DXY extended declines below 103, JPY leads G10 FX, EUR/USD and Cable linger just above 1.08 and 1.23 respectively.
- 10yr USTs attempted to nurse recent losses, crude futures plateaued and...
27 Mar 2023, 11:20 by Newsquawk Desk
- European bourses are in the green across the board, Euro Stoxx 50 +0.9%, with banking names outperforming initially after the concerns at the tail-end of last week.
- Stateside, futures are more tentative though the ES +0.4% is firmer and back above 4k after incrementally losing the figure in the European morning.
- FRC is bolstered in the pre-market amid reports the US is considering given the name more time & providing further support to...
27 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mixed in mostly rangebound trade as markets took a breather from recent banking sector jitters.
- FDIC confirms that First Citizens (FCNCA) is to assume all deposits and loans of Silicon Valley Bridge Bank.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +1.0% after the cash market closed down 1.8% on Friday.
- DXY lingers just above the 103 mark, EUR/USD languished beneath 1.08, USD/JPY capped by...
24 Mar 2023, 14:35 by Newsquawk Desk
- MON: German Ifo Survey (Mar).
- TUE: NBH Policy Announcement, US Advanced Goods Trade Balance (Feb), US Richmond Fed (Mar).
- WED: CNB Policy Announcement, Australian CPI (Feb).
- THU: SARB Policy Announcement, CBRT Minutes, Banxico Policy Announcement, Spanish Flash CPI (Mar), EZ Business Climate (Mar), German Prelim CPI (Mar), US GDP (Q4) & PCE Prices (Q4).
- FRI: Japanese Tokyo CPI (Feb), Chinese Official...
24 Mar 2023, 10:58 by Newsquawk Desk
- Equities are back under marked pressure as banking sector concern re-intensifies within Europe, Euro Stoxx 50 -2.3% & ES -0.8%.
- Specifically, the European banking index SX7P -5.0% is the standout laggard as CDS' for the stocks continue to rise & focus on the redemption of notes by Deutsche Bank and Lloyds; DBK -12%.
- USD and JPY benefit from the risk move with other G10 peers all succumbing to the USD's upside, DXY above 103.25 at...
24 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly subdued after the recent bout of central bank rate hikes.
- US Treasury Secretary Yellen said they are prepared for additional deposit actions if warranted.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.8% after the cash market closed up 0.3% on Thursday.
- DXY is contained around the 102.50 mark, JPY leads G10 FX, NZD lags, other majors are steady.
- Looking...
23 Mar 2023, 10:49 by Newsquawk Desk
- European bourses are softer while US futures are firmer, but still shy of Wednesday's best levels.
- USD remains on the backfoot after Wednesday's FOMC, Antipodeans lead and GBP rises pre-BoE.
- CHF and NOK benefitted from 50bp and 25bp hikes respectively; EGBs remain underpinned but off best following the hawkish action.
- USTs remain firmer with yields lower across the curve but slightly above the mid-week...
23 Mar 2023, 06:49 by Newsquawk Desk
- The Fed delivered a widely expected 25bps rate hike but dropped its reference regarding ‘ongoing’ rate hikes.
- Fed kept its terminal rate view at 5.10%, while the median view for rates in 2024 was raised to 4.3% from 4.1%.
- US Treasury Secretary Yellen told lawmakers that the Treasury is not considering insuring all uninsured bank deposits.
- APAC stocks traded mixed with price action choppy as markets digested the FOMC. US equity futures nursed...
22 Mar 2023, 10:55 by Newsquawk Desk
- Equities are firmer, ex-FTSE 100, as the constructive APAC tone continues
- Though, action is contained in pre-FOMC action while the FTSE 100 lags post UK CPI
- A release that was unexpectedly hot and sparked a marked hawkish reaction, with Cable outperforming and Gilts lagging as such
- DXY pressured on this with antipodeans also firmer while the safe-havens are little changed pre-Fed
- Commodities are diverging slightly;...