24 Dec 2024, 06:45 by Newsquawk Desk
- APAC stocks traded mostly firmer in choppy trade following a similar session on Wall Street, where stocks experienced volatility with low volumes amid the Christmas period.
- China convened a national fiscal work conference in Beijing, according to the Ministry of Finance, and said they will step up fiscal spending and accelerate spending speed in 2025.
- Japanese Finance Minister Kato expressed concern about recent FX moves. USD/JPY gradually dipped under...
23 Dec 2024, 10:55 by Newsquawk Desk
- European bourses are mostly lower, US futures higher with modest outperformance in the NQ.
- Dollar is firmer and holding around 108.00, GBP little changed after UK shows no growth in Q3.
- Bunds & Gilts pressured in thin trade, USTs flat into data.
- Gas heats up on updates out of Qatar and Russia; Crude/XAU flat.
- Looking ahead, Canadian GDP (Oct), US Consumer Confidence & Durable Goods, supply from...
23 Dec 2024, 06:42 by Newsquawk Desk
- APAC stocks opened firmer across the board on a holiday-thinned week, following a similar performance from Wall Street on Friday.
- US government has enacted a budget to avert a shutdown, but the deal does not include President-elect Donald Trump's proposal to raise the federal borrowing limit.
- DXY was flat in a 107.68-84 range to start the holiday-thinned week, with quiet news flow; Crude futures showed an upward bias amid the positive risk...
20 Dec 2024, 11:05 by Newsquawk Desk
- Stocks continue to slide on Quad Witching.
- USD gives back some of its FOMC-induced gains, JPY gains after the region’s inflation data and overnight jawboning.
- USTs and Bunds are incrementally firmer but ultimately contained into PCE and Fed speak.
- Crude continues to falter while base metals attempt a recovery.
- Looking ahead, US PCE, Canadian Retail Sales, Quad Witching, Fed's Williams, Daly &...
20 Dec 2024, 06:45 by Newsquawk Desk
- APAC stocks eventually traded mixed following a mostly lower open as markets digested a slew of central bank decisions whilst still feeling some of the hangover from the Fed.
- US equity futures gradually trickled lower after reports the US House of Representatives defeated the bill to temporarily fund the federal government and avert agency shutdowns beginning on Saturday.
- USD/JPY was choppy overnight as traders reacted to the BoJ presser and then hot Japanese CPI...
19 Dec 2024, 11:00 by Newsquawk Desk
- European stocks tumble post-FOMC, MU -15% pre-market weighing on chip peers in Europe; US futures attempting to recoup yesterday’s losses.
- USD gives back some of yesterday's post-FOMC gains, JPY hit after BoJ Governor Ueda’s press conference.
- US yield curve steepens, JGBs outperform post-Ueda, Gilts lag pre-BoE.
- Crude lifts incrementally off Wednesday's lows, XAU fares better as the USD pauses for breath.
- Looking...
19 Dec 2024, 06:30 by Newsquawk Desk
- The Fed cut rates by 25bps, as expected, to 4.25-4.5% in an 11-1 split, with Hammack voting to leave rates unchanged; the median dot plot for 2025 and 2026 FFR forecasts were lifted above expectations.
- Fed Chair Powell said the decision was a "closer call", but the "right call", suggesting there was a discussion surrounding holding rates at this meeting, and that "extent and timing language" shows Fed is at or near the point of slowing rate cuts, and the slower pace of cuts reflects...
18 Dec 2024, 10:50 by Newsquawk Desk
- European bourses are modestly on the front foot; US futures follow suit ahead of the FOMC decision.
- USD broadly firmer vs. peers ahead of FOMC, GBP lower post-inflation.
- USTs are contained, Bunds dip lower and reside at session lows.
- Crude recovers from Tuesday's pressure, metals contained.
- Looking ahead, US Building Permits, FOMC Announcement and Chair Powell's Press Conference, Earnings from General Mills, Jabil,...
18 Dec 2024, 06:40 by Newsquawk Desk
- APAC stocks eventually traded mixed with sentiment somewhat cautious following the negative lead from Wall Street.
- US assets traded sideways overnight as the focus turns to the FOMC announcement and Chair Powell's press conference.
- Bitcoin saw hefty losses overnight as prices retreated to under USD 104,000 despite a lack of newsflow.
- Honda Motor (7267 JT/HMC) and Nissan (7201 JT/NSANY) to begin merger talks amid EV competition, according to...
17 Dec 2024, 10:57 by Newsquawk Desk
- European bourses are mostly in the red, but sentiment has improved a touch since the cash open; US futures modestly lower.
- DXY back above 107.00, GBP posted early gains after hot wages data.
- Gilts lag as UK wage data essentially removes any chance of a Dec. BoE cut ahead of CPI; USTs a little lower ahead of US Retail Sales.
- Commodities succumb to the tepid risk tone and ongoing USD strength.
- Looking ahead, US Retail...