30 Aug 2021, 09:00 by Newsquawk Desk
- MON: UK Holiday (Summer Bank Holiday); German Flash CPI (Aug); EZ Sentiment Survey (Aug)
- TUE: OPEC+ JTC Meeting; Chinese Official PMIs (Aug); EZ Flash CPI (Aug); Canadian GDP (Q2)
- WED: OPEC+ Meetings, Australian GDP (Q2); Chinese Caixin Manufacturing Final PMI (Aug); German Retail Sales (Jul); EZ, UK, US Manufacturing PMI Final (Aug); US ISM Manufacturing PMI (Aug)
- THU: EZ PPI (Aug); US Challenger Layoffs (Aug); US Durable Goods R...
30 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks were mostly positive with the region mildly taking impetus from last Friday's gains on Wall St
- The S&P 500 and Nasdaq extended on record highs post-Powell
- In FX, the DXY remains softer and sub-93.00, EUR/USD has reclaimed 1.18 status
- The SPD has continued to make further gains in the latest polling data with Scholz coming out on top in the latest debate
- Oil producers in the Gulf of Mexico shut in...
27 Aug 2021, 11:42 by Newsquawk Desk
- European bourses are little changed while US futures have a marginal upward bias in limited newsflow pre-Powell
- Fed speak via just Bostic thus far, who stuck to his familiar 'hawkish' language around a taper
- The DXY straddles 93.00 and is marginally softer with peers contained; core debt is slightly softer but well within proximity to the U/C mark
- Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard...
27 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses traded mixed although have shown an improvement compared to the losses in global counterparts
- Losses in the US came in the context of recent hawkish Fed rhetoric ahead of Powell and events in Afghanistan
- The DXY straddled 93.00 amid a non-committal tone and contained price action in the FX space
- Further reports note that Biden is expected to reappoint Powell as Fed Chair whilst Brainard could be appointed as...
26 Aug 2021, 11:48 by Newsquawk Desk
- European bourses are softer across the board with US futures also pressured albeit to a lesser extent, ES -0.1%
- DXY is firmer but capped by 93.00 with peers subdued across the board while debt continues to pullback but has stabilised slightly most recently
- Fresh newsflow has been sparse and largely on geopols/COVID-19 boosters and as such not moving the macro dial
- The BoK became the first major Asian central bank to hike rates since the...
26 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded cautiously amid a deluge of earnings releases and as markets await Jackson Hole
- US equity futures trickled lower overnight following another consecutive day of record highs on Wall St
- The BoK became the first major Asian central bank to hike rates since the pandemic began
- In FX, the DXY remains lacklustre beneath 93.00, EUR/USD and GBP/USD remain steady on 1.17 and 1.37 handles...
25 Aug 2021, 11:32 by Newsquawk Desk
- European equity bourses/US futures are essentially unchanged amid minimal newsflow in the European morning; ES +0.1%
- The DXY has been choppy within ranges and currently sub-93.00 with peers mixed but near-unchanged; debt is downbeat after earlier upside fizzled out in EGBs
- US VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullying
- The House voted to approve the USD 3.5tln budget blueprint and advance...
25 Aug 2021, 06:54 by Newsquawk Desk
- Asian stocks traded somewhat mixed and failed to fully sustain the early momentum from the US
- The S&P 500 and Nasdaq extended on record highs amid notable strength in cyclicals
- US VP Harris suggested that the US needs to increase pressure on Beijing and challenge its bullying
- The House voted to approve the USD 3.5tln budget blueprint and advance the USD 1tln infrastructure bill
- The DXY heads into the European...
24 Aug 2021, 11:46 by Newsquawk Desk
- US equity futures are firmer off-best levels, with NQ modestly outperforming while European bourses are mixed/lower after a firmer start
- In FX, the DXY trades above 93.000, EUR/USD encountered resistance ahead of 1.1750 while Cable briefly lost 1.37 and antipodeans outperform
- RBNZ's Hawkesby said the RBNZ considered raising the OCR by 50bps at the recent meeting; decided to hold rates due to a communications challenge not economic risks.
- US...
24 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks sustained the momentum from Wall St; US equity futures traded sideways overnight
- In FX, the DXY traded on either side of 93.000, EUR/USD encountered resistance ahead of 1.1750, and antipodeans outperformed
- Chinese President Xi Jinping may not attend the G20 summit in Rome at the end of October which would delay a potential meeting with President Biden
- US VP Harris said China's actions in the South China Sea continue to...
23 Aug 2021, 11:42 by Newsquawk Desk
- European bourses are firmer but off-highs, Euro Stoxx 50 +0.3%; US futures have been steady and contained with the RTY outperforming
- DXY is pressured as activity-FX rebounds from last week's declines, whilst havens lag
- Flash PMIs were mixed but overall below forecasts - reactions were minimal
- The Fed’s Jackson Hole Symposium is shifting to a virtual event from the initial in-person format; schedule release August 26th at...
23 Aug 2021, 09:00 by Newsquawk Desk
- MON: Bank of Israel Policy Decision; UK, EZ and US Flash PMIs (Aug); New Zealand Retail Sales (Jul)
- TUE: NBH Policy Decision; New Zealand Trade Balance (Jul)
- WED: German Ifo Survey (Aug); US Durable Goods (Jul)
- THU: Fed Jackson Hole Symposium (26th - 28th), Australian Retail Sales (Aug), BoK Policy Decision; German GfK Consumer Sentiment (Sep); US GDP 2nd (Q2).
- FRI: Fed Jackson Hole Symposium (26th - 28th),...
23 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses were firmer throughout the night; US equity futures also drifted higher
- In FX, the DXY marginally pulled back from recent gains, high-betas outperformed, and havens lagged
- The Fed’s Jackson Hole Symposium is shifting to a virtual event from the initial in-person format
- Fed's Kaplan (2023 voter) stated if they saw that the Delta variant would be persistent or start to affect demand, they would have to adjust...
20 Aug 2021, 11:21 by Newsquawk Desk
- Risk sentiment is slightly softer but performance overall is contained, ES -0.2%, amid limited newsflow
- DXY is firmer and remains above 93.50, with activity currencies lagging and safe-havens marginally positive once again
- China's legislature passed the Personal Information Protection Law
- Fed Chair Powell is to speak on 'The Economic Outlook' at the Jackson Hole Symposium on August 27th at 15:00BST/10:00EDT
- Looking...
20 Aug 2021, 06:54 by Newsquawk Desk
- The mood in Asia was mostly subdued following on from the losses in European bourses and indecision stateside
- Energy was the worst-performing US sector once again as oil retreated for a 6th consecutive day and cyclicals lagged
- China's legislature passed the Personal Information Protection Law
- In FX, the DXY remains firm above 93.50, EUR/USD and GBP/USD remain on 1.16 and 1.36 handles respectively
- Looking ahead,...
19 Aug 2021, 11:40 by Newsquawk Desk
- Sentiment is firmly risk-off with European equity bourses and US futures pressured ES -0.6%, with USD, safe-haven FX and debt bid
- Fresh newsflow has been minimal and action a continuation of APAC weakness post-FOMC Minutes after a downbeat US close
- DXY is firmer but off 93.502 highs as activity/petro-FX slumps but JPY and CHF hold onto marginal gains; USTs outpace EGBs both both are bid
- Base metals are significantly hampered, LME Copper sub...
19 Aug 2021, 06:54 by Newsquawk Desk
- FOMC minutes suggested that participants generally judge that the standard of "substantial further progress" had not yet been met
- Most judged that it could be appropriate to start reducing the pace of asset purchases this year
- Stocks across Asia succumbed to the weakness seen across US peers with global risk sentiment pressured post-FOMC minutes
- Hang Seng Tech Index declined to its lowest since its launch last year. Alibaba’s Hong Kong...
18 Aug 2021, 11:49 by Newsquawk Desk
- European equities (Eurostoxx 50 -0.3%) trade with a mild negative bias with sectors mixed; US futures essentially flat
- The RBNZ kept rates unchanged at 0.25%; cited lockdown and uncertainty
- DXY is contained holding above 93.00 with peers equally contained ex-NZD post RBNZ; USTs are flat after APAC pressure pre-20yr supply & Fed events
- Fed's Rosengren supports a taper announcement next month for a start this fall and get on track to halt...
18 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac bourses gradually improved and managed to shrug off the early cautiousness stemming from the weak Wall St. handover
- The RBNZ kept rates unchanged at 0.25%; cited lockdown and uncertainty
- NZD recovered from initial losses with the RBNZ projecting a hike by year-end and another 100bps of increases in 2022
- The DXY, remains above 93.00, EUR/USD eyes 1.17 to the downside, JPY & CHF modestly lags vs. the...
17 Aug 2021, 11:33 by Newsquawk Desk
- European equities/US futures are hindered as sentiment slips on China updates and NZ returning to lockdown; ES -0.5%
- DXY is firmer but within ranges as safe-haven's remain little changed but antipodeans lag, particularly NZD pre-RBNZ on updated calls; core debt is bid but off best
- China's market regulator issued draft regulations on banning unfair competition in the internet sector
- Fed's Rosengren would be supportive of announcing a taper...
17 Aug 2021, 06:54 by Newsquawk Desk
- Asian equity markets were subdued following the mixed performance on Wall St; S&P 500 and DJIA posted a 5th consecutive session of record closes
- China's market regulator issued draft regulations on banning unfair competition in the internet sector
- Fed's Rosengren would be supportive of announcing a taper program in September if there is another strong jobs report
- In FX, the DXY is firmer above 92.50, antipodeans lag with NZD hampered by...
16 Aug 2021, 11:15 by Newsquawk Desk
- European bourses/US futures are softer with FX-havens bid but core debt pulling back after initial upside on weekend/overnight updates; ES -0.2%
- Focus has been on disappointing activity data from China, while weekend newsflow was dominated by events in Afghanistan
- The Taliban effectively took control of Kabul which prompted a mass exodus of foreigners and embassy personnel from the city
- DXY benefits from pressure in activity currencies and...
16 Aug 2021, 09:00 by Newsquawk Desk
- MON: Japanese GDP (Q2); Chinese Retail Sales and Industrial Production (Jul).
- TUE: RBA Minutes (Aug); UK Jobs Report (Jun/Jul); EZ Flash GDP (Q2) and Flash Employment (Q2); US Retail Sales (Jul).
- WED: RBNZ Policy Decision, FOMC Minutes (Jul); UK Inflation (Jul); EZ Final CPI (Jul); US Building Permits (Jul); Canadian CPI (Jul).
- THU: Norges Bank Policy Decision, CBRT Minutes (Aug); Australian Labour Market Report (Jul); US Philly Fed...
16 Aug 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded mostly subdued and US equity futures pulled back from record levels
- Participants digested disappointing activity data from China, while weekend newsflow was dominated by events in Afghanistan
- The Taliban effectively took control of Kabul which prompted a mass exodus of foreigners and embassy personnel from the city
- In FX, the DXY was choppy around 92.50, EUR/USD eyes 1.18 ahead of the European...
13 Aug 2021, 11:37 by Newsquawk Desk
- European bourses and US futures have a minimal positive bias but ultimately haven't deviated much from unchanged levels
- USD is downbeat but remains within reach of 93.00 with peers firmer but ultimately rangebound; debt sees USTs firmer while EGBs lost impetus after an initial flurry higher
- Tokyo daily COVID cases set a new record high and Japan's total exceed 20k for the first time while Australia's New South Wales reported record new...