• Asian equities traded higher across the board, Chinese and Hong Kong markets were closed due to National Day holiday
• The RBA cut its cash rate by 25bps to 0.75% as expected, reaffirmed easing bias, but added that a gentle turning point appears to have been reached
• UK PM Johnson is said to release his final Brexit plan to EU leaders within 24 hours and will reportedly ask the EU to rule out further Brexit extensions as part of a new deal
• In FX, DXY printed fresh YTD highs, USD/JPY climbed above 108,...

• Major European indices are modestly firmer but little changed overall, on a relatively quiet session thus far
• USD is firmer vs. most G10 counterparts with NZD the laggard although Sterling does modestly outperform
• US Treasury official stated that there are no current plans to stop Chinese firms from listing on US exchanges.
• UK Opposition Leaders will be meeting today to find a way to force UK PM Johnson to ask for a Brexit extension as early as this weekend
• Looking ahead highlights include,...

• Asian equities showed a mixed performance, Hang Seng (+0.4%) outperformed as Budweiser APAC’s debut signalled favourable IPO conditions
• Chinese Caixin Manufacturing topped estimates but trade concerns weighed on the one-year outlook and new export business continued to decline
• Reports suggested that the White House is mulling limits on portfolio flows into China, however, a US Treasury official stated that there are no current plans to stop Chinese firms from listing on US exchanges
• UK Opposition...

27th September 2019 

·        Major European indices are firmer following on from a choppy Asia-Pac session

·        FTSE 100 outperforms as Sterling slips and Gilts gain on dovish BoE Saunders

·        Saudi Arabia have reportedly agreed to a partial ceasefire in Yemen, according to the WSJ

·       ...

• Asian equity markets were mostly subdued following the weak lead from Wall St, Australia outperformed
• Chinese Foreign Minister said China is willing to buy more US products needed by the Chinese market, ahead of principal-level talks on October 10-11th in Washington
• Pentagon is to send 200 troops, a missile system and radar equipment to Saudi Arabia following the attack on its oil facilities
• In FX markets, the DXY was firmer, EUR/USD edged...

·        Major European indices are firmer from a mixed Asia-Pac session on further positive US-China remarks

·        UK PM Johnson said he will not request a Brexit extension even if conditions of the Benn bill are met, while he also stated that changing the Irish backstop is under serious negotiation

·        Chinese Commerce Ministry says US and China are closely...

• Asian equity markets traded somewhat mixed as the region struggled to maintain the momentum from the US
• US President Trump said China is making large agricultural purchases and there is a good chance that we'll make a trade deal with China, getting closer and closer
• US President Trump announced the first stage of a new US-Japan trade deal
• UK PM Johnson said he will not request a Brexit extension even if conditions of the Benn bill are met
• ECB's Lautenschlaeger (Hawk) resigned from the ECB...

• European indices are subdued as sentiment is impacted by a number of risk factors ahead
• House Speaker Pelosi says the House is to open informal impeachment inquiry into President Trump
• Saudi Aramco have reportedly restored oil production capacity to 11.3mln bpd, according to sources
• Fixed is little changed, USD is bolstered by a softer Sterling and EUR while NZD is now unchanged following RBNZ leaving rates unchanged at 1.0%
• Looking ahead, highlights include US New Home Sales, SNB Quarterly...

• Asian equity markets tracked the losses seen across global peers amid headwinds from the US
• UK government source expects a quick push for an election again perhaps even as early as this week, Cabinet source sees this being tabled on Thursday
• China’s Foreign Minister says US-China relations have come to a crossroad, and trade negotiations cannot happen under threats
• US House Speaker Pelosi says the House is to open a formal impeachment...

• UK Supreme Court deem PM Johnson’s parliament suspension as unlawful, GBP and Gilt whipsawed
• EU Court rules that Alphabet's Google (GOOG) does not have to apply the right to be forgotten globally
• US President Trump said he will discuss Iran in his UN speech today at 10:15ET
• Looking ahead, highlights include US Consumer Confidence, New Zealand Trade, UN General Assembly begins, ECB’s de Guindos, Norges Bank’s Matsen and BoE’s Carney. Supply from the...

• Asian equity markets traded indecisively following a similar close on Wall St where the major indices spent the day steadily recouping the opening losses
• US Treasury Secretary Mnuchin stated Chinese VP Liu He will visit the US next week for discussions; however, later stated talks will resume in two weeks
• US President Trump said we will have to see what happens regarding a meeting with Iranian President Rouhani and that he will discuss Iran in his UN speech...

• Major European bourses are softer as risk sentiment slips on PMI prints
• China’s agricultural delegation cancelled their farm trip at the US’ request, not due to trade talk difficulty
• Saudi Arabia's Khuraris and Abqaiaq facilities are to fully restore oil production early next week; currently producing around 4.3mln BPD., according to sources
• However, WSJ reports indicate that some experts believe it could take 8-months to restore Saudi production
• EUR/USD is lower and core debt has been...

• Asian equity markets were mixed following the negative close last Friday on Wall St. amid temperamental US-China trade headlines
• Trump reiterated he does not need a deal before the 2020 election and is not interested in a limited China deal
• Reports suggest that repair work for Saudi to return to normal oil output levels could take much longer than expected
• US Secretary of State Pompeo said the US is still seeking to avoid war with Iran but added that additional troops being deployed to the region...

• European bourses are firmer this morning in largely tentative trade as markets pause after a hectic week
• NY Fed announced a fourth consecutive overnight repo operation of USD 75bln at a minimum bid rate of 1.8% for Friday at 0815-0830 ET
• Fed’s Bullard says he dissented as a large cut is more appropriate, cites soft PCE & signs the economy is to slow soon
• The FX space is similarly tentative with the USD little changed vs. G10 counterparts
• Looking ahead, highlights include Canadian Retail...

• Asian equity markets traded mostly positively as risk appetite picked up from the indecision seen on Wall St
• US President Trump advisor Michael Pillsbury said the President is ready to escalate the trade war if a deal is not agreed soon and that tariffs could go to 50% or 100%
• EU Commission President Juncker said he thinks there can be a Brexit deal and that Brexit will happen
• Saudi-led coalition conducted a military operation in Yemen in which it destroyed 4 locations used for assembling...

• European indices are modestly firner post-Fed and as most G10 central banks have met, with BoE ahead
• In Central Bank activity, BoJ & SNB unchanged, SNB did not alter their CHF assessment while Norges Bank hiked but likely the last hike in the near term
• Iranian Foreign Minister Zarif threatened ‘all out war’ in the event of an Iranian military strike
• In FX, CHF is outperforming post SNB while AUD is the laggard vs. USD after poor overnight data
• Looking ahead, highlights include US Philly...

• Fed cut rates by 25bps for a 2nd consecutive meeting as expected with three dissenters; Rosengren and George voted for no change again, Bullard voted for a 50bps cut
• Dot plots showed a median view for a pause through to next year which left a hawkish aftertaste amongst US asset classes
• BoJ maintained all policy settings as expected and forward guidance to keep current extremely low rates for extended period at least through Spring 2020
• Brazil Central Bank cut the Selic Rate by 50bps to 5.50% as...

• Major European bourses are trading tentatively ahead of today’s key risk events with the FOMC ahead
• Saudi Arabia’s Defence Ministry are to update on evidence of Iranian weapon usage today (15:30BST) and IEA’s Birol is to speak on recent developments at 14:00BST
• In FX, the USD is King thus far, mainly on the underperformance of G10 counterparts with Sterling subdued on EU comments and soft CPI
• Looking ahead, highlights include US Building Permits, Housing Starts, Canadian CPI, New Zealand GDP, FOMC...

• Asian equity markets traded tentatively following the cautious gains on Wall St amid positioning heading into a flurry of central bank activity
• NY Fed are to to conduct another USD 75bln overnight repo today between 1315-1330BST at a minimum bid rate of 2.10% (unchanged from Tuesday
• Saudi Energy Minister Abdulaziz said oil supply is fully back online and that it will keep full oil supply to its customers this month
• Saudi Arabia’s Defence Ministry will conduct a press conference today which will...

• Asian equity markets traded tentatively following the cautious gains on Wall St amid positioning heading into a flurry of central bank activity
• NY Fed are to to conduct another USD 75bln overnight repo today between 1315-1330BST at a minimum bid rate of 2.10% (unchanged from Tuesday
• Saudi Energy Minister Abdulaziz said oil supply is fully back online and that it will keep full oil supply to its customers this month
• Saudi Arabia’s Defence Ministry will conduct a press conference today which will...

• European bourses are tentative awaiting updates to the Saudi situation as Saudi Energy Minister is to speak at 18:00/18:15BST and tomorrow’s FOMC
• WTI and Brent have slipped somewhat but hold onto a significant amount of their recent gains, US Energy Secretary Perry says they will take a wait and see stance to SPR
• In FX, the SEK and AUD underperform post minutes with the DXY little changed overall but firmer than most G10 counterparts
• Looking ahead, highlights include US Industrial Production,...

• Asian equity markets were mostly lower following a subdued lead from Wall St where the S&P 500 slipped back below the 3k milestone and the DJIA snapped an 8-day win streak
• US Trade Representative Robert Lighthizer said the US is determined to reach a real agreement with China but also noted there is still plenty of work to be done
• UK PM Johnson will unveil his new plan for the Irish backstop next week to EU leaders on the sidelines of the UN general assembly
• US President Trump said that he is in...

• European bourses are softer given the deterioration in risk tone, Brent and WTI are significantly stronger and safe havens are benefiting as well
• Two Saudi refineries were hit by drone attacks which cut as much as 5.7mln bbls of output or about half of Saudi's daily production, reports indicate this may have been the Iranian Revolutionary Guard
• On the attacks, US President Trump tweeted there is reason to believe that we know the culprit, are locked and loaded depending on verification from Saudi...

• Asian equity markets began the week cautiously as oil prices surged and geopolitical concerns heightened following drone attacks on Saudi refineries
• Disappointing Chinese Industrial Production and Retail Sales data, as well as this week’s heavy slate of central bank activity added to the tentative tone
• WTI crude futures surged briefly towards USD 64.00/bbl and Brent crude rallied by as much as 20% following the attack on the Saudi facilities
• US pointed the blame on Iran in which US President Trump...

• European equities are firmer this morning on positive US-China updates, though gains are relatively marginal
• China State Council will exclude some agricultural products including soybeans and pork from additional tariffs on US goods
• US President Trump said he would rather get a whole deal with China than an interim deal but suggested that he would consider an interim trade deal with China
• In FX, Sterling shines on DUP comments while EUR continues to strengthen post-ECB, albeit off of best...