28 Jul 2021, 11:38 by Newsquawk Desk
- Equity indices are firmer but contained pre-Fed after the lacklustre APAC handover with movers dominated by earnings; Euro Stoxx 50 +0.7%, ES +0.2%
- Large cap US earnings sees Apple lower pre-market trade, Microsoft marginally firmer and Alphabet higher; all beat on top and bottom lines
- USD is choppy but rangebound with peers exhibiting similar performance and core debt is similar, US yield curve is modestly bear-steepening
- Looking ahead,...
28 Jul 2021, 06:59 by Newsquawk Desk
- Asian equity markets traded mostly lower following on from the subdued mood in global counterparts
- Large cap US earnings saw Apple lower in after-market trade, Microsoft marginally firmer and Alphabet higher; all beat on top and bottom lines
- DXY is lacklustre around 92.50 ahead of FOMC. EUR/USD and GBP/USD trade on 1.18 and 1.38 handles respectively
- Looking ahead, highlights include German GFK Consumer Sentiment, Canadian CPI, DoEs, FOMC...
27 Jul 2021, 11:35 by Newsquawk Desk
- Sentiment slipped around the European cash open given pressure in China's bourses, though we are currently off lows; Euro Stoxx 50 -0.4%, ES -0.3%
- USD is firmer with activity currencies pressured on the tone and safe-haven JPY outperforming; though, attention is on rising Tokyo COVID-19 cases amid the Olympics
- Senate Majority Leader Schumer noted that the Senate may stay in session through the weekend to finish the bill
- Tesla earnings...
27 Jul 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly positive as the region found inspiration from Wall St. where all major indices extended on record highs
- Senate Majority Leader Schumer noted that the Senate may stay in session through the weekend to finish the bill
- The DXY consolidated after its recent retreat towards 92.50, EUR/USD and GBP/USD sit on 1.18 and 1.38 handles respectively
- Tesla earnings exceeded expectations after reporting record deliveries;...
26 Jul 2021, 11:47 by Newsquawk Desk
- European bourses are softer but well off lows following a mixed APAC handover where China underperformed; Euro Stoxx 50 -0.4%
- Chinese Vice Foreign Minister Xie Feng said the relationship with the US is in a stalemate and now faces difficulties
- Modest further pressure was seen in sentiment after the downbeat Ifo release and supply-side commentary pushing core debt to session highs and US real yields (10yr TIPS) to record lows
- USD has been...
26 Jul 2021, 09:00 by Newsquawk Desk
- MON: US-China meeting; German Ifo Survey (Jul).
- TUE: MNB Policy Decision; South Korean GDP (Q2); US Durable Goods (Jun) and Richmond Fed (Jul).
- WED: FOMC Policy Decision, BoJ SOO (Jul), CBRT Minutes (Jul); Australian CPI (Q2); German GfK Consumer Sentiment (Aug); Canadian CPI (Jun).
- THU: German Unemployment Rate (Jul); EZ Sentiment Survey (Jul); German Prelim CPI (Jul); US GDP and PCE Advanced (Q2).
- FRI:...
23 Jul 2021, 11:56 by Newsquawk Desk
- Equities are firmer this morning as a modest risk-on bias is present amid quiet newsflow; Euro Stoxx 50 +0.8%, ES +0.5%
- The DXY is firmer but still capped by 93.00 with peers slightly softer overall and JPY lagging amid the absence of Japanese participants
- EZ Flash PMIs beat across the board though sparked little reaction while the UK release missed expectations and core retail sales disappointed; GBP edged lower after the latter...
23 Jul 2021, 06:54 by Newsquawk Desk
- Asian stocks traded mixed with the region indecisive following on from a choppy performance stateside
- The DXY consolidated beneath 93.00, EUR/USD and GBP/USD trade on 1.17 and 1.37 handles respectively
- ECB's Weidmann and Wunsch opposed the Bank's new rate guidance, according to sources
- GOP Senator Collins said the bipartisan infrastructure deal release is to be on Monday at the earliest
- Looking ahead, highlights...
22 Jul 2021, 11:47 by Newsquawk Desk
- Equity indices remain firmer with sectors/movers in Europe dictated by earnings updates with US futures firmer though magnitudes slimmer; Euro Stoxx 50 +1.1%, ES 0.2%
- The USD has been choppy but has recently dipped from highs though peers remain contained ex-AUD & GBP
- GBP was briefly pressured on dovish Broadbent commentary re. inflation with Gilts seeing more pronounced, but equally short-lived upside as debt retreats across the...
22 Jul 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded higher following the extended rebound across global counterparts
- In FX, the DXY remains sub-93.00, EUR/USD eyes 1.18 and GBP/USD sits on a 1.37 handle
- The US Senate voted to block the opening of the debate on the bipartisan infrastructure plan
- Democrat Senator Manchin stated that they made significant progress in bipartisan infrastructure negotiations and are close to an agreement
- Looking...
21 Jul 2021, 11:38 by Newsquawk Desk
- Equities are firmer this morning with a pro-cyclical bias in play; Euro Stoxx 50 +1.4%, ES +0.4% & RTY +0.9%
- DXY has been choppy around the 93.00 mark with peers rangebound and USD/JPY contained by OpEx
- Core debt is pressured given the risk tone and, unlike Tuesday, the Bund outing not offering any assistance to EGBs; US yield curve is bear-steepening, 10yr ~1.25%
- US Senator Manchin supports Senate Majority Leader Schumer's plan for a...
21 Jul 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded with a positive bias as the region partially took impetus from the rebound on Wall St
- In FX, the DXY held above 93.00, EUR/USD trades on a 1.17 handle and GBP/USD holds on to 1.36 status
- US Democrat Senator Manchin said they are getting close on the infrastructure deal
- UK ministers are to say that Brussels has three months to sort out the Northern Ireland Protocol or Britain will go it alone, according to The...
20 Jul 2021, 11:37 by Newsquawk Desk
- European bourses began the session firmer in a mild paring of yesterday's losses but have since retraced the bulk of this; Euro Stoxx 50 +0.3%
- Similarly, US futures pulled back but retain an underlying bid with the RTY, +0.9%, outperforming
- The DXY is firmer but sub-93.00 with peers only modestly pressured and activity currencies lagging once more while the JPY is flat
- Core debt received a boost from strong UK and German issuance, even given...
20 Jul 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded lower after the region inherited a negative mood from global peers
- US CDC raised UK to the highest risk level and warned Americans not to travel to Britain
- The DXY heads into the European open firmer, but sub-93.00, EUR/USD and GBP/USD trade on 1.17 and 1.36 handles respectively
- US Senate Majority Leader Schumer confirmed he will set a vote on the motion to proceed to debate on the bipartisan USD 1.2tln...
19 Jul 2021, 11:54 by Newsquawk Desk
- Risk-off sentiment is portrayed across markets as the downbeat APAC tone reverberates into Europe; Euro Stoxx 50 -2.1%, ES -0.9%
- US equity futures are lower across the board with the RTY (-1.7%) underperforming whilst losses in the NQ (-0.3%) are cushioned
- DXY eclipsed 93.00 with activity/crude currencies lagging and JPY outperforming while USTs are bid as the 10yr yields dips below 1.25%
- OPEC+ agreed to extend supply management until end of...
19 Jul 2021, 09:00 by Newsquawk Desk
- MON: UK Lockdown Easing (TBC)
- TUE: RBA Minutes (July); PBoC LPR (Jul); Japanese CPI (Jun)
- WED: BoJ Minutes (June); Australian Retail Sales (Jun)
- THU: ECB Policy Decision, SARB and Bank of Indonesia Policy Decisions, Japan Market Holiday (Marine Day)
- FRI: EZ, UK and US Flash PMIs (Jul); UK Retail Sales (Jun); CBR Policy Decision, EU Economic/Financial Affairs Council (Budget), Japan Market...
19 Jul 2021, 06:55 by Newsquawk Desk
- Asia-Pac stocks and US equity futures began the week on the back foot; Hong Kong underperformed
- In FX, DXY held on to Friday's mild gains, EUR/USD tested 1.1800 to the downside and USD/JPY dipped below 110.00
- ECB reportedly disagreed on stimulus guidance drafts for the 22nd July meeting, while talks on bond buying will reportedly not happen until the September meeting, according to sources
- Oil prices are softer after OPEC+ reached an...
16 Jul 2021, 11:53 by Newsquawk Desk
- European bourses are mixed/lower following an indecisive open; US equity futures are flat intraday
- DXY has been choppy with G10 peers trading similarly though the NZD outperforms on further RBNZ hawkish calls while USD/JPY trades above 110.00
- US President Biden's Administration has issued an advisory warning US businesses on the risks of operating in Hong Kong, as expected
- China denied the request for US Deputy Secretary of State Sherman to...
16 Jul 2021, 06:56 by Newsquawk Desk
- Asian stocks were subdued as the region took its cue from the lacklustre performance across global peers; US equity futures were flat overnight
- In FX, DXY remained above 92.50, USD/JPY probed 110.00 and the NZD outperformed and Westpac now expects three RBNZ hikes this year
- US is preparing to impose sanctions on several Chinese officials over Hong Kong (in line with prior sources)
- China denied the request for US Deputy Secretary of State...
15 Jul 2021, 12:10 by Newsquawk Desk
- European bourses are lower across the board following a mixed-APAC handover where China outperformed
- US equity futures vary with the NQ (+0.3%) the outperformer while the RTY (-0.8%) lags
- BoE's Saunders said it may become appropriate fairly soon to withdraw some of the current monetary stimulus; sparking a hawkish reaction across UK assets
- DXY is subdued losing initial upside as GBP climbs on Saunders while core debt is dragged down by...
15 Jul 2021, 06:54 by Newsquawk Desk
- APAC equities lacked firm direction, Hong Kong outpaced peers; US equity futures were mixed, NQ outperformed
- In FX, the DXY tested but failed to breach 92.50 to the upside, USD/JPY fell under 110.00 and EUR/USD remained above 1.1800
- Fed Chair Powell stated it is still appropriate that monetary policy remains highly accommodative and that the jobs market is still a ways off from progress needed to begin tapering
- Chinese GDP Q/Q beat...
14 Jul 2021, 11:57 by Newsquawk Desk
- European bourses hold a modest downside bias while US futures are mixed/flat; ES U/C & NQ +0.3%
- The RBNZ kept its OCR unchanged but tilted more hawkish than was expected; NZD outperforms
- USD is pressured with peers firmer but contained ex-NZD while core debt has bounced after strong German issuance
- US Senate Democrats reached a USD 3.5tln budget deal for spending and tax plans; Biden to meet with Democrats...
14 Jul 2021, 06:52 by Newsquawk Desk
- Asian equity markets traded mostly lower; US equity futures were also subdued
- In FX, the DXY held on to most of the CPI-induced gains following a soft 30yr auction
- US Senate Democrats reached a USD 3.5tln budget deal for spending and tax plans
- The RBNZ kept its OCR unchanged but tilted more hawkish than was expected; NZD outperformed
- Looking ahead, highlights include UK CPI, BoC & CBRT Policy Decisions, Fed's...
13 Jul 2021, 11:59 by Newsquawk Desk
- European bourses and US equity futures are contained with mild outperformance in the NQ (+0.4%) vs the ES (U/C)
- The DXY has been grinding higher with peers mixed/flat; USTs & EGBs are little changed
- Chinese trade data topped estimates but Customs warned of many uncertainties and instabilities in H2 due to the pandemic
- OPEC+ delegates believe the next ministerial meeting to discuss oil output policy won't occur until next month at the...
13 Jul 2021, 06:51 by Newsquawk Desk
- Asia-Pac stocks traded higher across the board; Hong Kong outperformed and US equity futures were flat
- In FX, the DXY was flat above 92.00, EUR/USD traded sideways and antipodeans outperformed
- Chinese trade data topped estimates but Customs warned of many uncertainties and instabilities in H2 due to the pandemic
- US President Biden's administration is said to be mulling a digital trade deal to counter China's digital presence in...