18 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded cautiously after the rally from the Brexit deal breakthrough petered out and as participants mulled over mixed Chinese data
- Chinese economic growth slowed to the weakest pace since 1992, although Q/Q and YTD GDP figures matched analysts’ forecasts, while IP surpassed estimates
- UK rebel Labour MPs were said to be considering backing PM Johnson's Brexit deal if workers' and other rights are written into UK law
- Looking ahead, highlights US Baker Hughes rig count, Fed’s...
17 Oct 2019, 12:17 by Newsquawk Desk
- EU and UK have reached a Brexit deal, sources indicate DUP against it; no word from DUP Leader Foster yet
- Sterling is stronger with Cable reaching just shy of 1.30 at best; other G10 currencies are firmer vs. USD
- There will be no discussions on further Turkey sanctions during the European Commission summit, according to a senior EU officials
- Looking ahead highlights include, US Housing Permits & Starts, Philadelphia Fed, Industrial Production and EIA Weekly Stocks, EU Council Summit Begins,...
17 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed after the lacklustre tone rolled over from Wall St where all majors finished with marginal losses
- UK PM Johnson told the 1922 Committee that the UK will still leave deal or no deal on 31st October if a deal cannot be reached
- EU sources stated that a level playing field, customs arrangements and NI consent all have been agreed in the EU/UK talks, although VAT provisions are not done yet
- US President Trump suggested the Phase 1 of the US-China trade deal is moving...
16 Oct 2019, 12:17 by Newsquawk Desk
- European bourses are mixed but little changed overall as sentiment remains choppy, FTSE underperforms on ongoing GBP strength
- EU’s Barnier is optimistic a deal can be reached today, but EU sources state there is now not enough time to formally sign a deal at tomorrow’s summit; DUP remain the critical voice at present
- In FX, a volatile session for GBP thus far with the remaining G10 currencies mixed vs. USD; debt complex is bid across the board
- US House passed a bill aimed at supporting the Hong Kong...
16 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded higher after taking the impetus from the gains across global peers
- A large split reportedly opened up among Tory Eurosceptics whether to back PM Johnson's Brexit plan with some in the ERG supporting it, whilst others spoke out against it
- Reports are now talking about an effective deadline of 1300BST for a Brexit deal to be agreed in Brussels
- China urged US lawmakers to stop interfering and threatened to retaliate with strong measures after the US House passed a bill aimed...
15 Oct 2019, 11:59 by Newsquawk Desk
- European indices are firmer this morning, though sentiment has been impacted by US-China rhetoric
- Reports indicate China will struggle to purchase USD 50bln of US agri products annually, unless retaliatory tariffs are removed
- Mixed comments from EU’s Barnier stating that a Brexit deal is possible this week although sources note that the latest proposals are not enough
- DXY is mixed vs. G10 peers, with GBP and JPY outperforming and the debt complex is firmer thus far
- Looking ahead highlights...
15 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets traded mixed following the lacklustre lead from Wall St where the recent US-China trade optimism receded
- US-China talks are to resume next week and the Phase 1 deal could be wrapped up in November according to Chinese press
- Brexit deal hopes are reported to have increased as sources in both sides of the channel stated there was cautious optimism, according to the Telegraph
- US President Trump is to authorise sanctions against Turkish officials, immediately stop negotiations with...
14 Oct 2019, 11:45 by Newsquawk Desk
- Major European indices are subdued after Friday’s highs and following latest US-China rhetoric
- China reportedly want further discussion before the signing of the Phase One deal with US President Trump
- Brussels is demanding further Brexit concessions from UK which has prompted warnings that a deal based on additional compromise would be rejected by Parliament
- In FX, GBP underperforms a somewhat mixed USD as Friday’s Brexit euphoria fizzles out ahead of Thursday’s summit
- Looking ahead...
14 Oct 2019, 06:55 by Newsquawk Desk
- Asian equity markets began the week on the front-foot as the region reacted to last week’s announcement of a US-China Phase 1 dea
- The deal saw China agree to make between USD 40bln-50bln of agricultural purchases from the US and the US refrain from implementing the October 15th tariffs
- Brussels is demanding further Brexit concessions from UK which has prompted warnings that a deal based on additional compromise would be rejected by Parliament
- DXY slightly firmed as safe-havens recovered some of the...
11 Oct 2019, 12:03 by Newsquawk Desk
- European bourses are firmer this morning as US-China flow has been light following yesterday’s positivity from US President Trump; is to meet China VP He at 19:45BST
- EU’s Tusk says UK PM Johnson is yet to bring forward suitable proposals, have received positivity signals from the Irish PM
- Reports that a Iranian tanker has been hit by missiles near a Saudi port, currently unclear as to where these originated from
- Crude is buoyed on the tanker flow while Sterling is the notable G10 FX outperformer...
11 Oct 2019, 06:50 by Newsquawk Desk
- US President Trump said US-China talks went very well today ahead of his meeting with Chinese Vice Premier Liu He at 14:45EDT/19:45BST
- Asian equities took its cue from the rally on Wall Street, HK outperformed whilst Mainland remained cautious
- UK Brexit negotiators are proposing a "pared-down" free trade agreement to end the Brexit impasse, Irish PM noted that he had good discussions about a future relationship after Brexit
- DXY held onto losses, Cable kept a 1.24+ status, USD/JPY traded on either...
10 Oct 2019, 12:13 by Newsquawk Desk
- European bourses are mixed/little changed overall, as focus remains firmly on US-China updates
- SCMP reports that Chinese delegation is cutting their trip short due to a lack of progress
- FBN’s Lawrence highlights that the China team have been debating leading early, may hinge on today’s talks
- US is reportedly considering some concession on a currency pact, next week’s tariffs and Huawei
- USD is softer vs. G10 peers, while the debt complex remains slightly firmer Stateside though the 10yr is...
10 Oct 2019, 06:50 by Newsquawk Desk
- Asian equities traded with cautious gains in what was a volatile session amid a slew of contradicting trade headlines
- SCMP reported that Chinese delegation is cutting the trade trip short amid no progress on trade issues
- US is reportedly mulling some concessions regarding the currency pact, next week’s scheduled tariffs and Huawei but is to tighten inspections on parcels from China
- FOMC Minutes stated a few members said markets see more accommodation in the future than they see as...
09 Oct 2019, 11:58 by Newsquawk Desk
- Risk sentiment is buoyed on reports that China are open to a partial trade deal in-spite of the technology blacklist, subsequent reports indicate China offer to purchase USD 10bln of goods per year
- Initial reports noted that the EU were prepared to make a significant concession on the Brexit deal; however, this has subsequently been rebuffed from every angle
- Reports that Turkish troops had crossed the Syrian border, since clarified that this has not happened thought they are at the border
- Debt...
09 Oct 2019, 06:49 by Newsquawk Desk
- Asian stocks tracked losses on Wall Street but drifted off lows, South Korea was closed due to a public holiday
- US imposed Visa bans against Chinese individuals related to abuse of China's Uighur community, China said the move interferes in China's internal affairs and undermines China's interests
- US and Kurdish officials expect Turkey to launch an attack on Northeast Syria within the next 24 hours, Turkish attack appears coordinated with Russians according to sources
- Fed Chair Powell said Fed is to...
08 Oct 2019, 11:53 by Newsquawk Desk
- China is toning down exp. ahead of trade talks, delegation are planning to cut the visit short and Liu He has not been given the designation of Special Envoy., SCMP
- China’s Commerce Ministry say to stay tuned for retaliation to the US naming 28 Co’s to be placed on their entity list
- German Chancellor Merkel reportedly told PM Johnson that a deal can only occur if NI remains in the customs union, if this is the EU’s position than a UK source notes that a deal is essentially impossible at any...
08 Oct 2019, 06:49 by Newsquawk Desk
- Asian equities traded higher across the board despite a lacklustre handover from Wall Street, HKEX dropped its bid for LSE and Samsung Electronics released its Q3 guidance
- China is ready to do a deal on the parts of the negotiations both sides agree upon and are prepared to set out a timetable for the harder issues to be worked out next year, according to Fox
- US Commerce Department confirmed it has blacklisted 28 Chinese firms over treatment of the Muslim Uighur community
- In FX, DXY remained within...
07 Oct 2019, 11:12 by Newsquawk Desk
- Major European indices are little changed as markets await further US-China updates
- China is reportedly narrowing the scope for a trade deal with the US, officials expected to present an offer which omits industrial policy or subsidies
- North Korea has terminated working talks with the US and US forces are to pull out of Northern Syria, and not stand in the way of Turkey’s long-standing plan
- USD is firmer vs. G10 counterparts excluding safe havens
- Looking ahead highlights include US Consumer...
07 Oct 2019, 06:56 by Newsquawk Desk
- Asian equities traded mixed after initially opening higher, Mainland China and Hong Kong were closed
- China is narrowing scope for a trade deal with the US ahead of principle-level talks in Washington this week, according to reports
- North Korea has terminated working level nuclear talks with the US due to US’ “old viewpoints and attitude”, according to NK
- UK PM Johnson is reportedly willing to go to the Supreme Court to avoid having to write a letter asking for a delay to Brexit
- Looking...
04 Oct 2019, 11:36 by Newsquawk Desk
- European equities are indecisive and overall little changed ahead of US jobs report
- White House Trade Adviser Navarro reiterated that there will be no small deal with China
- Beijing is in no hurry to forge a deal, and cites the one secured between US and Japan as a reason for not rushing., SCMP
- Fed’s Clarida was optimistic on the economy, noted Fed is not on a pre-set course and a standing repo facility will be discussed in future meetings
- USD is marginally softer thus far, fixed is firmer;...
04 Oct 2019, 06:49 by Newsquawk Desk
- Asian equities traded with no firm direction after an upbeat performance on Wall Street, ahead of NFP
- SCMP Editorial piece stated, "Beijing is in no hurry to forge a deal” with the US
- EU’s Brexit Negotiator Barnier told a private meeting of EU diplomats that UK PM Johnson’s proposals fell far short of his conditions for a deal, sources stated
- In FX, the DXY is flat, EUR and GBP moved in-step with the Dollar, Antipodeans outperformed
- Looking ahead, highlights include US NFP and Trade, Baker...
03 Oct 2019, 12:16 by Newsquawk Desk
- US equity futures are modestly firmer, in a bounce-back from the WTO announcement; note, Germany is closed
- USTR are to impose 10% tariffs on EU aircraft and 25% on agricultural and industrial goods
- Fed’s Evans says the ISM-Manufacturing print confirmed the FOMC’s view and is open-minded for the next meeting
- ·Fixed is firmer as growth concerns grow while DXY remains around 99.0 and somewhat mixed vs. G10 counterparts
- Looking ahead highlights include US Services and Composite PMIs, US Initial...
03 Oct 2019, 06:50 by Newsquawk Desk
- Asian equities joined the global stock rout, Mainland China and South Korean markets were closed due to public holidays
- Hong Kong is reportedly studying a curfew to contain protest violence, according to local press
- US will impose retaliatory tariffs of 10% on EU aircrafts, 25% on EU agriculture and industrial goods, effective October 18th
- EU is ready to grant another Article 50 extension even if the letter is not signed by UK PM Johnson, diplomats stated that no European leader has reached the...
02 Oct 2019, 11:58 by Newsquawk Desk
- European equities are lower as sentiment remains subdued from yesterdays events and ahead of today’s risk catalysts
- WTO are to announce the decision on the US' right to retaliate to against the EU over their Airbus (AIR FP) subsidies at 15.00 BST
- EU Sources note UK proposals on Brexit as reported by the media "won't fly" and seem "fundamentally floored"
- In FX, DXY has regained ground against most G10 peers while the debt complex has been...
02 Oct 2019, 07:00 by Newsquawk Desk
- Asian equity markets were negative and followed the lead from Wall Street, ASX 200 underperformed, Mainland China and Indian markets were shut
- North Korea fired short-ranged projectiles towards the East Sea, one missile reportedly landed inside Japan’s Exclusive Economic Zone (EEZ)
- UK PM Johnson will today unveil a new ‘two borders for four years’ Brexit plan which will leave Northern Ireland in a special relationship with Europe until 2025
- Irish Foreign Minister Coveney said the UK PM’s Brexit plan...