09 Feb 2021, 06:54 by Newsquawk Desk
- Asian equities were mostly positive after the stimulus-driven momentum on Wall St. which lifted all major US indices to fresh unprecedented levels
- In FX, the DXY extended its move below 91.00, EUR/USD ventured further above 1.2000 and GBP/USD traded at its best levels since 2018
- Details of the US COVID stimulus plan revealed an extension of unemployment insurance to August 29th, as well as provide USD 1,400 checks at the same income level as prior...
08 Feb 2021, 11:57 by Newsquawk Desk
- Equity futures remain in positive-territory, ES +0.3%, but off highs after a mixed/firmer APAC handover with focus on COVID-19 developments and the reflation narrative
- According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
- Treasury Secretary Yellen leaned back against concerns about stoking inflation pressures, arguing that the benefits...
08 Feb 2021, 09:00 by Newsquawk Desk
- MON: EZ Sentix Index (Feb)
- TUE: EIA STEO
- WED: Riksbank Policy Announcement; Banxico Policy Announcement; Chinese Inflation (Jan); US CPI (Jan); Norwegian CPI (Jan); US CPI (Jan)
- THU: CBR Policy Announcement; US University of Sentiment Prelim (Feb); OPEC Oil Market Report; Japanese National Day Holiday, Chinese Spring Festival, South Korea's New Year's Day
- FRI: UK GDP Estimate (Dec) and Prelim GDP (Q4); Hong...
08 Feb 2021, 09:00 by Newsquawk Desk
- SUN: Japanese GDP
- MON: Eurogroup meeting; US Holiday Washington's Birthday
- TUE: RBA Minutes (Feb); German ZEW Sentiment (Feb); EZ GDP Flash Estimate (Q4) and Employment Flash (Q4); Japanese Trade Balance (Jan)
- WED: FOMC Minutes (Jan); UK Inflation (Jan); US Retail Sales (Jan) and Industrial Production (Jan); Canadian CPI (Jan)
- THU: ECB Minutes (Jan); CBRT Policy Announcement; Australian Labour Market Report (Jan); EZ...
08 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mostly higher and US equity futures resumed last Friday’s advances on Wall St
- According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
- In FX, the DXY held on to 91.00 status, EUR/USD and GBP/USD trade on 1.20 and 1.37 handles respectively
- Senate voted to pass budget measures and fast-track...
05 Feb 2021, 11:50 by Newsquawk Desk
- European bourses have largely consolidated since the cash open (Euro Stoxx 50 +0.4%) with US futures posting similar gains aside from the outperforming Russell 2000 +0.4%
- US Senate has now formally passed the budget measures to adopt the fast-track Biden stimulus plan; VP Harris cast the tie-break vote
- USD remains under pressure but is off-lows with broader peers only eeking modest gains against the Buck
- Looking ahead, highlights include US...
05 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall St
- RBI kept rates unchanged as expected and retained an accommodative stance, which it will keep for as long as necessary
- In FX, the DXY has maintained yesterday's gains around 91.50, EUR/USD remains sub-1.20 and GBP held onto BoE gains
- Italy's PD Senate Chief expects Draghi has an 80-90% chance of forming a...
04 Feb 2021, 11:45 by Newsquawk Desk
- European equities trade mostly firmer (Eurostoxx 50 +0.3%) in what has been a busy morning of corporate updates across the region
- In FX, the DXY is once again firmer vs. peers as EUR/USD loses 1.20 status for the first time this year. GBP eyes BoE
- Fixed income remains rangebound with Gilts focused on NIRP developments from the BoE and the Periphery on Draghi's deliberations
- Looking ahead, highlights include BoE rate decision & MPR, US...
04 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mostly lower following a flat lead from the US where focus centred on earnings and stimulus plans
- 5SM's Di Maio said Italy needs an alternative to a Draghi government, while the Brothers of Italy party Chief favours abstaining
- In FX, the DXY extended on gains above 91.00, EUR/USD remains in the low 1.20's and GBP/USD hovers around 1.36
- President Biden is open to having the discussion on the income level of Americans...
03 Feb 2021, 12:18 by Newsquawk Desk
- European indices began the session on the front-foot, before consolidating off highs, Euro Stoxx 50 +0.7%, ES +0.4%; while the FTSE MIB & BTPs outperform on Draghi's potential Italian mandate
- Tech giants Google and Amazon saw earnings beat on top and bottom lines; with Google outperforming in the pre-market +7.0%
- President Biden Advisor speculates the final stimulus size could be USD 1.3trln, Politico
- The mornings UK/EZ PMIs saw modest...
03 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly higher as the region took impetus from global peers including the advances on Wall St
- Tech giants Google and Amazon saw earnings beat on top and bottom lines
- Oxford/AstraZeneca vaccine shows sustained protection of 76% during 3m interval until 2nd dose
- Talks over forming a new coalition in Italy have broken down, former ECB President Draghi could be appointed as a replacement PM
- In...
02 Feb 2021, 12:11 by Newsquawk Desk
- European indices are firmer following the positive APAC handover; sectors are broadly in the green though oil & gas is among the laggards as BP's update offsets much of the positivity from crude benchmarks themselves
- China top diplomat Yang said they are prepared to work with the US; separately, US Treasury Secretary Yellen is to meet with Democrats today on aid
- The DXY continues to make ground above 91.00 this morning pressuring major counterparts but...
02 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets advanced after the firm handover from Wall St with the resurgence led by the tech sector
- In FX markets, the DXY marginally pulled back after advancing above 91.00, EUR/USD and GBP/USD remain below 1.21 and 1.37 respectively
- Talks aimed at reviving Italy's collapsed ruling coalition were blocked on Monday over policy issues
- RBA maintained its key rate at 0.10% as expected but unexpectedly announced it is to extend its QE...
01 Feb 2021, 12:01 by Newsquawk Desk
- European indices began the session on the front-foot, Euro Stoxx 50 +1.3%, ES +1.0%, with sectors predominantly positive and basic resources shining following silver's outperformance
- Chinese official manufacturing, non-manufacturing and Caixin manufacturing PMI data all fell short of estimates but remained in expansion territory; somewhat hindered mainland performance
- A group of 10 Republican senators called for President Biden to consider a smaller COVID-19 relief...
01 Feb 2021, 09:00 by Newsquawk Desk
- SUN: Chinese Official PMIs (Jan)
- MON: Chinese Caixin Manufacturing PMI Final (Jan); EZ, UK and US Manufacturing PMI Final (Jan); US ISM Manufacturing PMI (Jan).
- TUE: RBA Policy Announcement; EZ Flash GDP (Q4); US ISM New York (Jan); New Zealand Labour Market Data (Q4).
- WED: Chinese Caixin Services PMI Final (Jan); EZ, UK and US Services/Composite PMI Final (Jan); EZ Flash CPI (Jan) US ISM Services PMI (Jan); ADP National Employment (Jan);...
01 Feb 2021, 06:54 by Newsquawk Desk
- A positive tone was observed in the Asia-Pac region and US equity futures recovered from the early stumble seen at the reopen
- Chinese official manufacturing, non-manufacturing and Caixin manufacturing PMI data all fell short of estimates but remained in expansion territory
- In FX markets, the DXY heads into the EU open softer, EUR/USD rangebound on a 1.21 handle, GBP/USD extended gains above 1.3700
- Gold gapped higher in tandem with the 7%...
29 Jan 2021, 12:00 by Newsquawk Desk
- Indices have been under pressure in a continuation of the APAC deterioration; however, both European bourses and US futures are well off lows, Euro Stoxx 50 -0.7% & ES -0.5%
- Novavax (NVAX) vaccine was 89% effective against COVID-19, according to a UK study; however, efficacy was 60% in a South African Trial
- ECB rate reduction discussion has been marginal in policy talks, according to sources; benefits seen as limited; downplayed Euro...
29 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets steadily deteriorated as the initial emboldenment from the rebound on Wall St gradually faded
- Novavax vaccine was 89% effective against COVID-19, according to a UK study. However, efficacy was 60% in a South African Trial
- In FX, the DXY recouped some lost ground overnight, EUR/USD hovers around 1.21, GBP/USD trades near the 1.37 mark
- US Senate panel is to hold a hearing on the current state of the stock market in wake of...
28 Jan 2021, 12:10 by Newsquawk Desk
- Equity indices were pressured from the European cash open in a continuation of APAC performance; subsequently, this downside intensified though we are currently well off lows - Euro Stoxx 50 -0.3%, ES -0.1%
- Apple -3%, Facebook -1% & Tesla -6% all reported after the close with pressure attributed to the lack of/vague guidance from Apple; as such, the NQ -0.7% is the morning's underperformer
- ECB’s Rehn says policy tools can be adjusted if required; inflation...
28 Jan 2021, 06:54 by Newsquawk Desk
- FOMC left rates unchanged and maintained the size of its asset purchase programme, as expected
- FOMC noted that the pace of US economic activity and employment moderated in recent months
- Asia-Pac indices were negative on spillover selling from the US where stocks had their worst day since October
- Better-than-expected earnings from tech giants Apple and Facebook failed to provide any meaningful reprieve
- In FX, the DXY...
27 Jan 2021, 12:09 by Newsquawk Desk
- European bourses began the session indecisive following a mixed APAC handover but subsequently selling pressure has intensified; Euro Stoxx 50 -1.4%, ES -0.6% though NQ (U/C) outerperforms somewhat post-MSFT
- MSFT beat on top and bottom lines and are +2.8% in the pre-market while chip names have been pressured post AMD & TXN; in Europe, LVMH initially bolstered luxuries but has succumbed to the general sentiment
- ECB's Knot says we have the tools...
27 Jan 2021, 06:54 by Newsquawk Desk
- Asian equities traded mixed and attempted to shrug off the weak handover from the US where there was a slight negative bias
- A late boost was seen in Nasdaq 100 futures after-hours due to strong results from Microsoft which beat on top and bottom lines
- ECB will reportedly query dollar weakness and is to monitor the impact on FX from ECB vs Fed policies
- Italy's Conte said he wants backing for a government of "national rescue" and is seeking a...
26 Jan 2021, 11:50 by Newsquawk Desk
- European bourses were initially mixed following the subdued APAC lead but have since experienced notable upside amid a lack of fresh catalysts; Euro Stoxx 50 +1.4%, ES U/C
- Italian PM Conte has reportedly informed his cabinet of his intention to resign and is to meet with President Mattarella on the matter today
- US Senate Democrat Leader Schumer said they will attempt to pass President Biden's COVID-19 bill through the budget reconciliation process if the GOP block...
26 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets declined across the board with sentiment subdued after the flimsy risk appetite amongst global peers
- Italian PM Conte has convened a cabinet meeting for Tuesday to inform ministers he is resigning; will likely seek to form a new government
- In FX, the USD is broadly firmer against major peers with activity currencies lagging against the greenback
- US Senate Democrat Leader Schumer said they will attempt to pass President...
25 Jan 2021, 11:56 by Newsquawk Desk
- European indices faded opening gains in-light of a subdued German Ifo print and in contrast to the firmer APAC handover; Euro Stoxx 50 -0.1%, ES +0.2%
- German Ifo (Jan) readings missed expectations and dropped from the prior with the institute noting services continues to represent the majority of the decline
- EUR was hampered post-Ifo lifting the DXY into positive territory and applying pressure on major counterparts though magnitudes are slim at...