• Asian equity markets traded with a lacklustre tone following on from a weak lead from US where the major indices faltered in late trade
• US Senate Majority Leader McConnell dashed some stimulus hopes and saw the S&P 500 retrace its earlier gains
• In FX markets, the DXY heads into the EU open firmer as EUR/USD and GBP/USD sit above 1.17 and 1.30 respectively
• RBNZ kept rates unchanged as expected, widened its LSAP programme to NZD 100bln from NZD 60bln and agreed to continue preparing a package of...

• Sentiment strengthened after the European cash open whilst gold gave up USD 2000/oz with fundamental drivers at the time sparse; US futures firmer and towards session peaks, e-mini S&P hit record highs
• US President Trump said he is mulling a capital gains tax cut, as well as an income tax cut for middle-income families
• Russian-made COVID-19 vaccine has received regulatory approval, according to Russian President Putin via RIA
• New Zealand...

• Asian equities traded higher as risk appetite in the region improved on the tepid performance seen on Wall St where most major indices finished in the green but tech underperformed
• The DXY heads into the EU open just above 93.50, EUR/USD hovers around 1.1750 and GBP/USD just below 1.3100
• US President Trump said he is mulling a capital gains tax cut, as well as an income tax cut for middle-income families
• Treasury Secretary Mnuchin said stated he has not spoken to House Speaker Pelosi or Senate...

• European equities lost steam after China announced retaliatory sanctions on US officials
• Targets of the Chinese sanctions include Senators Rubio & Cruz, Freedom House President Abramowitz and Human Rights Watch Director Roth; effective as of today
• A lack of progress in Congressional stimulus talks prompted President Trump to go ahead with taking executive action
• Trump took action on enhanced unemployment benefits, evictions, payroll tax...

• Asian equity markets eventually traded mostly higher on what was an indecisive start to the week amid holiday-thinned conditions
• A lack of progress in Congressional stimulus talks prompted President Trump to go ahead with taking executive action
• Trump took action on enhanced unemployment benefits, evictions, payroll tax deferral and student loan relief
• Reports noted that the orders are likely to face some legal challenges, while the enhanced...

• European equities drift lower as the APAC sentiment reverberated into the region
• US President Trump signed executive orders to ban transactions with TikTok’s parent ByteDance, as well as Tencent-owned WeChat in 45 days
• US President Trump Working Group on Financial Markets recommended Chinese companies currently listed on US exchanges be compliant with US accounting standards or be delisted
• US Treasury Secretary Mnuchin said the sides are...

• Asian equity markets failed to sustain the positive handover from Wall St where all major indices notched gains as tech resumed its outperformance
• US State Department lifted advisory against all international travel and is returning to its previous system of country-specific levels of travel advice
• US President Trump signed executive orders to ban transactions with TikTok’s parent ByteDance, as well as Tencent-owned WeChat in 45 days
• US...

• European equities traded choppy but are ultimately lower; FTSE 100 underperforms
• Further US COVID-19 relief bill talks will take place today; goal is to conclude discussions this week
• BoE maintained policy settings; Gov Bailey said negative rates are in the toolbox but prefers QE; RBI unexpectedly stood pat on rates
• In FX, DXY is modestly firmer; GBP outperforms and TRY tumbles
• Looking ahead, highlights include US...

• Asian equity markets traded mixed amid a lack of fresh catalysts and with the region failing to take advantage of the mild tailwinds from Wall St
• In FX, the DXY remains sub-93.00, EUR/USD trades in the high 1.18’s and GBP/USD maintains 1.31 status ahead of the BoE
• US stimulus talks remain deadlocked with recent reports suggesting that President Trump is prepared to use executive orders if a deal is not reached
• Looking ahead, highlights...

• European stocks drift higher as earnings remain in focus; sectors retain a cyclical bias
• Chinese Ambassador to the US said China is prepared to negotiate with other countries for peaceful solution to South China Sea disputes
• Further US coronavirus relief bill talks will take place today; US Treasury Secretary Mnuchin said he wants to have an understanding by end of the week
• DXY dipped below 93.000, Antipodeans outperform, spot gold extends...

• Asian equity markets traded mixed after the marginally firmer handover from Wall St amid the toing and froing in US COVID-19 relief discussions
• Caixin Services PMI missed estimates and Caixin Composite PMI was lower than previous but both remained in firm expansionary territory
• The DXY continued to soften and sits just above the 93.00 level, EUR/USD reclaimed 1.18, GBP/USD sits just below 1.31
• Gold soared to unprecedented heights and broke...

• Initial optimism across stocks faded; sectors hold a cyclical bias
• US Senate could start the debate on the House-passed COVID-19 bill this afternoon, according to Fox
• House Speaker Pelosi said she hopes a deal could be made this week, although acknowledged that it will not probably occur until next week
• RBA kept rates unchanged at 0.25% as expected and reiterated its forward guidance, but will purchase AGS...

• European equity markets began the new trading month mixed following a similar lead from the APAC session
• White House Chief of Staff Meadows suggested there is still a long way to go in coronavirus relief negotiations and that he is not optimistic of reaching a long-term deal
• Trump administrations is reportedly mulling options for unilateral actions to address some of the economic fallout from the pandemic if no stimulus deal is reached;...

• Asian equity markets began the new trading month mixed after last Friday’s positive close on Wall St where the tech sector rallied
• US President Trump said he may ban TikTok and is looking at a lot of alternatives for TikTok
• Source reports later stated that President Trump is to allow 45 days for ByteDance to negotiate the sale of TikTok to Microsoft
• The DXY was firmer around the 93.50 level as it extended on its rebound from fresh 2-year...

• European bourses trade modestly firmer with US futures posting similar performance as fundamental newsflow is light going into month-end
• Apple, Alphabet, Amazon and Facebook all beat on top and bottom lines in after-market releases
• US Treasury Secretary Mnuchin said we are going back to the negotiating table and that the best-case scenario is that a deal is made in the next few days
• Hong Kong Gov't announce the September legislative council elections are to be postponed
• USD has firmed up...

• Asian equity markets traded lacklustre heading into month-end after somewhat mixed Chinese PMI data with the region failing to take advantage of the momentum from US
• US futures were boosted after-hours following big tech earnings in which Apple, Alphabet, Amazon and Facebook all beat on top and bottom lines
• DXY continued to weaken and extended its decline below the 93.00, EUR/USD briefly breached 1.1900 and GBP/USD remains above 1.3100
• US President Trump said he does not want a delay of 2020...

• Sentiment has deteriorated throughout the morning with focus very much on the busiest day of earnings season for Europe & US
• White House Chief of Staff Meadows said we are nowhere close to a deal; talks expected to resume today
• Johnson & Johnson (JNJ) - Single dose of the COVID-19 vaccine candidate demonstrates robust protection in pre-clinical studies
• Several Hong Kong opposition candidates say they have been disqualified from running in legislative council elections
• China's...

• Asian equity markets were mostly kept afloat as the region took advantage of the post-FOMC tailwinds from Wall Street and a busy earnings slate
• The FOMC refrained from any policy adjustments as expected with Fed Chair Powell reiterating the Fed’s commitment to supporting the economy
• The DXY heads into the EU open modestly firmer (sub 93.50), EUR/USD and GBP/USD pulled back from resistance around 1.1800 and 1.3000 respectively
• White House Chief of Staff Meadows said we are nowhere close to a deal...

• Price action is tentative and largely directionless for European bourses after similar APAC session while US futures are marginally positive
• DXY has slipped further after yesterday’s initial late-door pullback, with major peers firmer as such while UST yield curve is slightly steeper
• US President Trump said there are some parts of the Republican coronavirus relief bill he does not support but didn’t specify which parts
• US Senate Democratic Minority Leader Schumer said the business liability...

• Asian equity markets traded somewhat indecisively following a lacklustre handover from Wall St
• Moderna has stated that its COVID-19 vaccine is able to induce a robust immune response and protect against infection in non-human primates
• The DXY just about snapped a 7-day losing streak yesterday although has since given back some gains
• US President Trump said there are some parts of the Republican coronavirus relief bill he does not support but didn’t specify which parts
• It was also reported...

• Equities have slipped ahead of US’ entrance following mixed APAC trade and a largely directionless European session
• XAU lost some of its shine dropping some USD 70/oz through the session with a number of factors cited as plausible drivers
• Senate Republicans unveiled their stimulus plan in which enhanced unemployment insurance will continue at a reduced amount of USD 200/week
• Senate Minority Leader Schumer said the GOP COVID-19 plan is...

• Asia-Pac stocks traded mostly higher but initial optimism abated; Nikkei 225 lagged
• Senate Republicans unveiled their stimulus plan which was met with Democratic resistance
• New Zealand is suspending the extradition treaty with Hong Kong following the imposition of the National Security Law
• UK PM Johnson has warned of the risk of a second wave of COVID-19 this autumn, but stressed the government will seek to avoid a national lockdown
• In FX, DXY gained traction towards the end of the session...

• European bourses are indecisive as travel names suffer as UK implements a quarantine for Spain while heavyweight SAP supports tech post-earnings
• UK government announced a 14-day quarantine rule for anyone arriving from Spain; France & Germany also on the radar
• White House Chief of Staff Meadows said the WH and Senate Republicans have reached a deal "in principle" on the next COVID-19 relief package, likely to be released today
• Chinese military began live-fire drills in the South China Sea on...

• Asia-Pac traded choppy as initial optimism petered out, Nikkei underperformed on catch-up play
• The US flag was lowered at its Chengdu consulate in China shortly after the closure deadline; Chinese military began live-fire drills in the South China Sea on Saturday
• White House Chief of Staff Meadows said the WH and Senate Republicans have reached a deal "in principle" on the next COVID-19 relief package, likely to be released today
• UK government announced a 14-day quarantine rule for anyone arriving...

Sentiment in Europe remains subdued but has picked up a touch following positive flash PMIs

China has confirmed it will be asking the US to close the Chengdu consulate in response to the closure of the Chinese consulate in US

EU Commission says the Airbus agreement to modify subsidy scheme achieves full compliance with WTO rulings, removing any grounds for the US to maintain countermeasures on EU exports

EU Commission states it is urgent that EU countries mitigate the risk of dependency on high-risk 5G...