29 Apr 2020, 11:51 by Newsquawk Desk
- European bourses are modestly firmer after a flat/mixed open, US futures are slightly firmer than EU peers ahead of large-cap earnings, US GDP/PCE & FOMC
- US Senate Majority Leader McConnell said he is certainly open to considering more aid for state and local governments
- Fitch downgraded Italy by one notch to BBB-; Outlook Stable – BTP’s lag but have pulled back somewhat; BTP-Bund yield spread within recent ranges
- FX sees the USD softer with most counterparts benefiting aside from GBP, hit via...
29 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mostly higher and US equity futures also recovered from the tech-led declines on Wall St
- Alphabet shares were seen higher by around 8% after hours post-earnings as revenues topped expectations
- Fitch downgraded Italy by one notch to BBB-; Outlook Stable. Italy says that economic fundamentals remain solid
- In FX markets, the DXY remained softer following the recent decline below the 100.00 level ahead of upcoming key risk events stateside
- Looking ahead, highlights...
28 Apr 2020, 12:04 by Newsquawk Desk
- European bourses initially opened unchanged but have strengthened significantly in what has been a relatively quiet session ahead of upcoming risk events
- Fed expanded scope and duration of municipal liquidity facility and increased the duration of eligible securities to 3 years from 2 years
- FX sees the USD softer to the benefit of counterparts particularly JPY with USD/JPY comfortably below 107.00; while SEK strengthened post Riksbank
- President Trump suggested the US is not happy with China and are...
28 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mixed as a deluge of earnings and continued oil rout offset the momentum from Wall St.
- The DXY was marginally firmer after support at the 100.00 level just about held but with price action limited
- President Trump suggested the US is not happy with China and is doing a serious investigation of China's actions in response to the coronavirus outbreak
- WTI crude futures extended on its rout with another double-digit percentage loss to briefly break below USD...
27 Apr 2020, 11:38 by Newsquawk Desk
- European bourses are stronger this morning following the APAC lead, US futures are firmer but to a lesser extent ahead of Fed and on the busiest week of earnings this quarter
- BoJ kept NIRP at -0.1% and long term JGB yield target at around 0% but pledged to buy unlimited JGBs and increased its purchases of corporate bonds and commercial paper
- New York Governor Cuomo said the state will follow the CDC’s recommendation to wait until hospitalization rates decline for 14 days before opening up
- FX sees...
27 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mostly positive with sentiment underpinned by optimism regarding the reopening of global economies
- US government trial of Gilead's (GILD) Remdesivir is running ahead of schedule and results from the trial could be possible by mid-May
- UK PM Johnson could announce plans for easing the lockdown as early as this week after returning to Downing Street
- Italy PM Conte announced the nation is to begin lifting the lockdown from May 4th with retailers set to open on May...
24 Apr 2020, 12:03 by Newsquawk Desk
- Sentiment is divergent: bourses subdued in Europe after EU leaders meeting while US futures firm up
- US House voted to pass the USD 484bln coronavirus package bill as expected; Trump to sign in a noon ceremony
- EUR weakness initially boosted the USD, but the DXY has yet to eclipse early April highs at 100.94 as weakness in peers has diminished with the DXY recently turning negative on the day
- US Treasury Secretary Mnuchin said they are mulling a lending facility for struggling oil...
24 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly negative following the lacklustre handover from US where major indices retraced their initial oil-inspired gains
- The DXY was firmer overnight and back above 100.50 as the soured risk tone helped the safe-haven claw back the lost ground
- Gilead's Remdesivir reportedly flopped in the first randomized clinical trial according to draft documents obtained by the FT
- EU leaders talks ended with no agreement on the recovery package
- EU Commission President Von Der...
23 Apr 2020, 12:01 by Newsquawk Desk
- European bourses are marginally softer at present, dented on abysmal PMI numbers and ahead of the EU Leaders meeting
- EU recovery plan could trigger EUR 2tln of spending and investment, recovery find would allow Commission to raise EUR 320bln on the market
- EU is looking to launch the recovery fund on 1st January 2021; however, Italy state they cannot wait until even June for the approval
- Iran's Guards Chief says US ships will be destroyed if they threaten Iranian ships; crude is bolstered on the...
23 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets mostly benefitted from the more constructive handover from Wall St where sentiment rebounded in tandem with oil prices
- In FX, the DXY remains above 100.00, EUR/USD flat, Cable sits above 1.2350
- The ECB announced that it will accept some junk-rated debt as collateral in a move to insulate some economies in the face of potential credit downgrades
- Oil prices continued to nurse recent losses in which Brent and WTI crude futures reclaimed USD 22.00/bbl and USD 15.00/bbl...
22 Apr 2020, 11:42 by Newsquawk Desk
- European bourses are firmer by around 1% and overall little moved from opening levels; stateside, futures show a similar pattern
- Crude futures are currently subdued but have been choppy throughout the session with WTI alternating between positive & negative territory
- US Senate approved the new USD 480bln coronavirus relief bill as expected by unanimous consent, which the House is set to vote on this Thursday
- US Treasury Secretary Mnuchin said he think this will be last tranche of money for small...
22 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets extended on losses as the subdued tone rolled over once again from Wall St where sentiment was pressured by the continued oil market rout
- Oil prices remained jittery overnight following the prior day’s losses which saw June WTI crude prices briefly slip into single digit territory
- The DXY was rangebound above the 100.00 level, EUR/USD was flat around 1.0850 and GBP/USD languished below 1.2300
- US Senate approved the new USD 480bln coronavirus relief bill as expected by unanimous...
21 Apr 2020, 12:07 by Newsquawk Desk
- Crude remains under substantial pressure, the scale of which was enough to trigger circuit breakers in the June WTI future at USD 11.79/bbl
- European bourses have extended on opening losses, following the crude complex’s decline; US futures are equally subdued
- EU Commission's Thursday summit will not take a final decision on financing a coronvairus recovery fund, according to Diplomats and Officials
- North Korea leader Kim is said to be in grave danger following surgery; however, this has received...
21 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets were negative across the board following the weak handover from Wall St where sentiment was subdued
- In crude markets, the soon-to-expire May WTI contract hit lows of USD -40/bbl, whilst the active June contract remained above USD 20/bbl
- The DXY was firmer and rose above 100.00 amid the broad risk-averse tone
- US President Trump hopes to have an agreement on the small business program soon with maybe a vote in the Senate on Tuesday
- Reports suggested that North Korean...
20 Apr 2020, 11:48 by Newsquawk Desk
- European bourses are subdued after spending much of the session relatively mixed/flat, e-mini S&P just below Friday’s lows
- US President Trump’s administration and Democrats in Congress were said to be near a USD 450bln economic relief package for small businesses
- Trump said they are getting closer to a deal with Democrats regarding stimulus and could have an answer on Monday
- PBoC cut the 1-year & 5-year LPR rates, as expected by 20bp and 10bp respectively
- FX sees the USD softer, and...
20 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed amid the ongoing fallout from the coronavirus pandemic and extended rout in oil prices
- The DXY is relatively flat with upside capped ahead of the 100.00 level. EUR/USD and GBP/USD remain below 1.0900 and 1.2500 respectively
- The PBoC cut the 1-year and 5-year Loan Prime Rates by 20bps and 10bps respectively as expected
- US President Trump’s administration and Democrats in Congress were said to be near a USD...
17 Apr 2020, 11:45 by Newsquawk Desk
- Sentiment remains strong following APAC hours on upbeat, albeit caveated, Gilead virus updates
- US President Trump noted that experts say the curve has flattened and we have passed the peak of new cases; unveiled the 3-phase approach to re-opening
- German Health Minister Spahn said that "as of today, the outbreak has become manageable again"
- China's Parliament Standing Committee is to meet from April 26-29th, according to Xinhua
- FX sees the DXY once again eclipsing 100.00 to the upside, to the...
17 Apr 2020, 06:54 by Newsquawk Desk
- Sentiment was supported overnight following the announcement of reopening guidelines in the US and hopes of a vaccine breakthrough
- In FX markets, the DXY softened overnight and pulled back below the 100.00 level amid the heightened risk appetite
- US President Trump noted that experts say the curve has flattened and we have passed the peak of new cases
- President Trump unveiled a 3-phase approach to re-opening the economy, while he noted that some states can reopen sooner than others
- There were...
16 Apr 2020, 11:58 by Newsquawk Desk
- Sentiment recovered from APAC lulls prior to European open; currently, remain modestly firmer ahead of US data deluge
- President Trump added administration will be announcing new guidelines on reopening the economy on Thursday
- ECB President Lagarde is fully prepared to increase the size of asset purchase programmes and adjust their composition, by as much as necessary and for as long as needed
- DXY is firmer once again, but yet to breach the 100.00 mark to the upside with major peers subdued as...
16 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets remained subdued amid the headwinds from Wall St which saw the S&P 500 close lower by 2.2%
- DXY remains firmer in the FX space as the index sits just below the 100.00 threshold, weighing on major counterparts
- President Trump said the administration will be announcing new guidelines on reopening the economy on Thursday
- WTI crude futures fluctuated around the USD 20/bbl level as prices remained subdued by the ongoing demand concerns
- Looking ahead, highlights include...
15 Apr 2020, 12:03 by Newsquawk Desk
- Sentiment is negative this morning following the downbeat APAC lead as Wall St. optimism dissipated
- US President Trump said plans to reopen the country are nearing completion and he will speak to all Governors shortly; additionally, he instructed administration to halt funding to the WHO as a review is conducted
- IEA Monthly Oil Market Report: Global oil demand is set to fall by a record 9.3mln BPD in 2020, SPR purchases can reach 200mln BPD in the next three months
- DXY is firmer thus far to the...
15 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded cautiously as the region failed to follow through on the optimism seen on Wall St
- DXY remained lacklustre after having recently slipped below the 99.00 level amid easing funding pressures and declining yields
- Brexit negotiators are to conduct a video call today to finalize next week's large-scale trade negotiations
- US President Trump stated that he instructed the administration to halt funding to the WHO as a review is conducted
- US President Trump said plans to...
14 Apr 2020, 11:58 by Newsquawk Desk
- European bourses are firmer this morning with US futures stronger in excess of 1% at present; note, Eurex has been experiencing operational difficulties
- US President Trump said we're very close to completing a plan to re-open the country and hopefully ahead of schedule
- US NIH's Fauci said even though we had a bad week last week, we are starting to see flattening including in hot spots such as New York
- FX sees the DXY modestly softer this morning, while the ZAR underperforms after SARB cut rates to...
14 Apr 2020, 06:54 by Newsquawk Desk
- Asian equity markets were positive across the board as sentiment picked up from the holiday lull and as the region digested mostly better than expected Chinese trade data
- Chinese trade figures showed a much narrower than expected contraction in exports and a surprise expansion to CNY-denominated imports
- DXY was softer overnight as the constructive risk appetite sapped demand for the greenback
- US President Trump says the administration is very close to completing a plan to re-open the country and is...
09 Apr 2020, 11:50 by Newsquawk Desk
- Sentiment started strong but has waned on the approach to today’s plethora of risk events
- Kuwait Oil Minister says intention is moving towards reaching an agreement to lower output by a large amount between 10mln-15mln bpd.
- Kremlin declined to comment on reports their maximum cut would be 2mln BPD
- Russia and Saudi Arabia still need to settle differences regarding plans for a global oil production cut according to sources, regarding baseline and quantity
- President Trump suggested the...