18 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks followed suit to the tech rout stateside owing to the recent rotation play, concerns of China tech curbs and tariff fears.
- European equity futures indicate a slightly softer open with Euro Stoxx 50 futures down 0.1% after the cash market finished lower by 1.1% on Wednesday.
- DXY remains on a 103 handle, EUR/USD holds onto 1.09 status and Cable is testing support at 1.30.
- CNN quoted a senior adviser stating that US President...
17 Jul 2024, 11:44 by Newsquawk Desk
- European equities almost entirely in the red with sentiment hit following ASML earnings; results which has led to significant NQ weakness
- Dollar is weaker and slips to 103.70, carry trade unwinding seen with significant strength in JPY & CHF, GBP climbs past 1.30
- Fixed complex is rangebound, with Bunds underpinned but USTs capped near Tuesday’s best into supply
- Crude is incrementally firmer, initially catching a bid amid the weaker...
17 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks were mixed despite the positive handover from Wall St, while China trade frictions and tariff threats clouded over Asia-Pac sentiment.
- NZD/USD was ultimately boosted despite the softer-than-expected New Zealand CPI data for Q2 as the attention turned to the 5.4% surge in non-tradeable consumer inflation; DXY struggled for direction.
- Former President Trump said the Fed should abstain from cutting rates before the November election and wants to bring the...
16 Jul 2024, 11:05 by Newsquawk Desk
- European equities are entirely in the red; US futures gain, and with clear outperformance in the RTY
- USD gains vs NZD, AUD & JPY, EUR/USD reclaims 1.09 and USD/JPY holds around 158.40
- Bonds are higher following Fed Chair Powell's comments and with yields unwinding some of their Trump-induced steepening
- Crude resides at session lows, XAU gains and eyes its ATH and base metals are mostly lower
- Looking ahead, US...
16 Jul 2024, 06:33 by Newsquawk Desk
- APAC stocks were mixed amid a quiet calendar and after the choppy but positive performance stateside.
- Fed Chair Powell acknowledged more inflation progress and that recent inflation readings added confidence in inflation falling.
- European equity futures indicate a softer open with Euro Stoxx 50 future -0.3% after the cash market closed down by 1.2% on Monday.
- DXY is marginally higher with the USD mainly firmer vs. JPY, AUD and NZD, EUR/USD...
15 Jul 2024, 11:05 by Newsquawk Desk
- European bourses are mostly lower, but sentiment has improved in recent trade; Burberry -15% and Swatch -10% both warn on China weakness; US equity futures gain
- Dollar is subdued but still holds just above 104.00, EUR/USD at 1.09 & the Kiwi lags
- Bonds were initially subdued in reaction to the assassination attempt on former President Trump, pressure which has since pared
- Crude is choppy and modestly higher, XAU holds onto USD 2400/oz,...
15 Jul 2024, 06:30 by Newsquawk Desk
- APAC stocks traded mixed as participants reflected on the Trump assassination attempt over the weekend and a slew of Chinese data.
- Chinese GDP and Retail Sales missed forecasts, while House Prices further deteriorated but Industrial Production topped estimates.
- European equity futures indicate a negative open with Euro Stoxx 50 future -0.6% after the cash market closed up by 1.3% on Friday.
- Initial strength in DXY faded, EUR/USD sits on...
12 Jul 2024, 11:08 by Newsquawk Desk
- European bourses are entirely in the green, US futures are mixed with the ES and NQ flat whilst the RTY continues to outperform
- Dollar is flat having erased earlier gains, USD/JPY back below 160 after choppy trade overnight
- Bonds are pressured giving back some of the post-CPI strength
- Crude is firmer and resides near session highs, XAU lower and base metals are mixed
- Looking ahead, US PPI, Uni. of Michigan Prelim.,...
12 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks took their cues from the mixed performance stateside where softer-than-expected CPI data boosted Fed rate cut bets and spurred a stock rotation out of large-cap tech into small-cap cyclicals.
- DXY found some slight reprieve following yesterday's selling, USD/JPY swung between gains and losses in volatile trade; Nikkei said the BoJ likely conducted rate checks in EUR/JPY today.
- Fed's Daly (voter) said it is likely some policy adjustments will be warranted...
11 Jul 2024, 11:14 by Newsquawk Desk
- European bourses are entirely in the green whilst US futures take a breather from the prior day’s advances
- Dollar is incrementally softer, GBP benefits from the region’s strong GDP metrics
- Bonds are flat/lower, with Treasuries standing pat as focus remains on US CPI, Gilts marginally underperform
- Crude is incrementally higher, having pared overnight gains; XAU at session highs and base metals are mixed
- Looking ahead,...
11 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks took impetus from Wall St where the S&P 500 and Nasdaq rose to fresh record highs once again.
- European equity futures indicate a mildly positive open with Euro Stoxx 50 future +0.2% after the cash market closed up by 1.1% on Wednesday.
- DXY sits just below the 105 mark, antipodeans lead, Cable has held onto recent gains and USD/JPY continues to edge higher.
- BoE's Mann said that wage growth is still far away from being...
10 Jul 2024, 11:15 by Newsquawk Desk
- Equities are entirely in the green and hold near session highs
- Dollar is flat and just above 105, NZD underperforms after the RBNZ kept rates unchanged but language struck a less hawkish tone
- Bonds are firmer ahead of US 10yr supply and another appearance from Chair Powell
- Crude was initially subdued following Chinese inflation data, but caught a bid on geopolitical headlines; XAU is incrementally firmer
- Looking...
10 Jul 2024, 06:25 by Newsquawk Desk
- APAC stocks were mixed following the indecisive performance stateside where the major indices finished rangebound after Fed Chair Powell largely stuck to the script.
- DXY traded rangebound, USD/JPY continued its gradual upward trend, NZD was pressured after RBNZ, and CNY did not react to softer-than-expected Chinese CPI.
- RBNZ unsurprisingly maintained the OCR at 5.50% although its language was less hawkish as it added that the extent of restraint will be tempered...
09 Jul 2024, 11:08 by Newsquawk Desk
- European equities are mostly lower, US futures are modestly in the green ahead of Fed Chair Powell’s testimony
- Dollar is flat and G10s are uneventful vs the Dollar, though the Kiwi lags
- Bonds are lower, with focus today on Fed Chair Powell and US 3yr supply
- Crude is subdued and near session lows, XAU nurses recent losses
- Looking ahead, NFIB Business Optimism Index, Comments from Fed’s Powell, Barr & Bowman,...
09 Jul 2024, 06:25 by Newsquawk Desk
- APAC stocks were mixed as the region only partially sustained the positive mood seen in the US where the S&P 500 and Nasdaq 100 extended on record highs.
- European equity futures indicate a lower open with Euro Stoxx 50 future -0.2% after the cash market closed down by 0.2% on Monday.
- DXY lingers around the 105 mark, USD/JPY eyes 161 to the upside with FX markets broadly contained.
- Hamas said Israel's PM Netanyahu is placing hurdles...
08 Jul 2024, 11:18 by Newsquawk Desk
- European bourses are entirely in the green, paring initial losses as markets digest the fallout from the French second-round parliamentary election
- French second-round election results pointed to a hung parliament in which the left-wing New Popular Front surprisingly won the most seats followed by Macron's centrists and with the far-right National Rally in third place
- DXY is incrementally softer & EUR scales back initial French-induced...
08 Jul 2024, 06:40 by Newsquawk Desk
- APAC stocks were mostly lower as the region failed to resume the momentum from last Friday's dovish post-NFP reaction, while the weekend macro news flow was light aside from the French election results.
- EUR/USD was mildly pressured after the French second-round election results pointed to a hung parliament in which the left-wing New Popular Front surprisingly won the most seats followed by Macron's centrists and with the far-right National Rally in third...
05 Jul 2024, 11:20 by Newsquawk Desk
- European bourses have been tilting higher with the region benefitting from the removal of some political risk in the UK, Germany & France
- Stateside, futures pivoting the unchanged mark into Payrolls
- FX has seen a slightly softer start for the USD, weighed on by EUR & GBP; USD/JPY slips to near 160.50
- Fixed benchmarks generally firmer but only modestly so, EGBs unreactive to data and German fiscal...
05 Jul 2024, 06:50 by Jay Woods
- APAC stocks traded somewhat mixed in the absence of a lead from the US owing to the Independence Day holiday.
- There was also a lack of fireworks from the UK election exit polls, with the latest results showing that the Labour Party has won a majority as expected.
- DXY briefly dipped under 105 with quiet macro newsflow ahead of NFP, GBP/USD traded flat within a tight 1.2755-72 range, and USD/JPY slid beneath the 161.00 level with early pressure seen...
04 Jul 2024, 06:50 by Newsquawk Desk
- APAC stocks traded mostly higher as the region followed suit to the gains on Wall Street where the S&P 500 and the Nasdaq notched fresh record closes once again heading into US Independence Day.
- Fed Minutes stated that most saw the current policy stance as restrictive and several participants said if inflation were to persist at an elevated level or rise further, the Fed Funds Rate might need to be raised, while a number of participants said that policy should stand ready to respond to...
03 Jul 2024, 11:20 by Newsquawk Desk
- European bourses are higher across the board as the region catches up to the Wall St. handover and continues generally strong APAC performance
- DXY under pressure and holding near the 105.59 low with peers generally firmer as the USD continues to feel the weight of Powell's remarks and looks to the mentioned data deluge
- OAT-Bund 10yr yield spread has narrowed to below 68bps at best, though is still circa. 20bps above pre-election levels; largely unreactive to...
03 Jul 2024, 06:25 by Newsquawk Desk
- APAC stocks mostly took impetus from the gains on Wall St where the S&P 500 and Nasdaq posted record closes.
- European equity futures indicate a firmer open with Euro Stoxx 50 future +0.5% after the cash market closed lower by 0.5% on Tuesday.
- DXY remains sub-106, EUR/USD has pivoted around the 1.0750 mark, USD/JPY is in close proximity to its multi-decade high.
- Bunds have edged mild gains, oil futures were supported by a large draw in...
02 Jul 2024, 11:40 by Newsquawk Desk
- European bourses pressured despite a lack of fresh drivers with US futures softer ahead of Chair Powell
- DXY firmer and above 106.00, USD/JPY hit another peak of 161.75, EUR unreactive to HICP
- EGBs slipped incrementally on sticky super-core EZ HICP but remain near the unchanged mark overall, USTs slightly firmer
- Crude continues to climb while XAU pivots its 21-DMA and base metals lift marginally
- ECB's Lane said...
02 Jul 2024, 06:35 by Aaron Saunders
- APAC stocks were ultimately mixed amid the backdrop of rising global yields and recent soft US data.
- European equity futures indicate a slightly lower open with Euro Stoxx 50 future -0.2% after the cash market closed higher by 0.7% on Monday.
- DXY is steady and just below the 106 mark, USD/JPY printed another multi-decade high, antipodeans lag.
- Crude futures marginally extended on their best levels in more than two month, Bunds...
01 Jul 2024, 11:20 by Aaron Saunders
- French Election 1st round saw National Rally make significant gains but the odds of another hung parliament have likely increased
- Sparking outperformance in French-related assets with OATs, CAC 40 & EUR all supported, though the magnitude of this has trimmed into another week of political uncertainty and a still challenging fiscal backdrop
- US futures generally firmer but with some slight pressure in chip names led by Nvidia
- EUR the FX...