• Asian stock markets were lower across the board as the risk averse tone rolled over from Wall St, where the tech sector led the sell-off
• Brexiteers reportedly still lack the sufficient number of signatures required to trigger a no-confidence vote against UK PM May
• UK PM May is reportedly drawing up secret plans to drop the Irish border backstop and win support from angry Brexiteers
• Looking ahead, highlights include US building permits & housing starts, BoE’s Carney, Haldane,...

• APEC summit ended without an agreement on a joint communique for the first time in its history after China refused to sign amid US-China tensions
• Apple have reportedly cut production orders for their 3 new iPhone models and are down 1.9% pre-market
• DXY remains capped below a key Fib level (96.590) and the Dollar overall is mixed vs major counterparts
• Looking ahead, highlights include potential comments from Fed’s Williams....

• Asian equity markets began the week somewhat cautious on lingering trade concerns and after disunity at the APEC summit
• UK PM May stated over the weekend that there has not yet been enough number of letters required to trigger a no-confidence vote
• ERG sources are said to be confident of reaching the 48 letters required on Monday to trigger a no-confidence vote against UK PM May
• Looking ahead, highlights include potential comments from Fed’s Williams, UK PM May to speak at the CBI...

16th November 2018

• US-Chinese trade relations in focus again after conflicting reports suggesting the next round of Chinese tariffs are being placed on hold, which USTR Lighthizer later denied
• UK PM May said she will see this through and fight leadership challenge. UK PM May is yet to appoint a new Brexit Minister
• Looking ahead, highlights include EZ CPI, US Industrial Production, ECB’s Draghi, Weidmann and Lane, Fed’s Evans

• Sterling pounded amidst multiple cabinet resignations
• Gilts hit contract high, ahead of possible no-confidence vote as UK PM in Dis-May
• Looking ahead, highlights include US retail sales, US weekly jobs, NY Fed mfg, Philly Fed, DoEs, ECB’s Coeure, Praet and de Guindos, Fed’s Quarles, Powell and Bostic, earnings from Walmart

• Asian equity markets were eventually mostly higher after the region gradually shrugged off the cautious lead from the losses stateside
• UK PM May confirmed she has cabinet backing for her Brexit deal and stands ready to present the deal and a statement to Parliament
• There were reports that a PM May no confidence vote would be submitted today. However, questions remain over whether or not rebels would have enough votes to be successful
• Looking ahead, highlights include UK and US retail...

• Cable wings clipped by customs concerns ahead of 14:00GMT Cabinet meeting
• Source reports of a possible 1.4mln BPD oil supply cut by OPEC fails to stop the rot
• Looking ahead, highlights include, UK Brexit Cabinet meeting, US CPI, Fed’s Quarles, Powell, Supply from Germany and UK cabinet to meet to discuss Brexit deal

• Asian equities traded lacklustre following a similar performance on Wall St where the energy sector was hit by a further aggressive slide in oil prices
• All eyes are now on events at 10 Downing Street as UK PM May’s cabinet meets to discuss her Brexit deal
• Tensions between Italy and the European Commission remain after the nation left growth and deficit targets unchanged in its budget draft
• Looking ahead, highlights include German and Eurozone flash GDP, Swedish, UK and US CPI,...

• Brexit "endgame" talk lifts Cable to a 1.29 handle as a deal hangs in the balance; Italian assets underperform ahead of budget re-submission deadline
• Positive US-China trade rumblings lifting equities but oil extending losses as Presidential jawboning fails
• Looking ahead, highlights include Italian Budget Resubmission Deadline, ECB’s Stournaras, de Guindos, Fed’s Brainard, Harker, Daly

• Major Asian equity markets mostly followed suit to the sell-off on Wall St where tech led the declines
• UK PM May said Brexit talks are now reaching their "endgame" and that both sides are working hard to reach an agreement but added that significant issues still remain
• Senior ministers led by UK Brexit Secretary Raab told UK PM May no deal is preferable to the current offer from the EU, according to Buzzfeed
• Looking ahead, highlights include German CPI (F), UK jobs report,...

• European equities are mixed after having initially opening higher across the board, DAX underperforms while FTSE 100 is buoyed by a weaker GBP
• DXY has extended recovery gains beyond 97.000 and through its previous ytd peak to top out just shy of 97.600
• Looking ahead, the calendar includes a lack of tier 1 data, ECB’s Lautenschlaeger, Fed’s Daly. US Veteran’s Day – no market closures

• Asian equity markets eventually traded mostly positive but with gains limited as some cautiousness lingered from the uninspiring performance on Wall St last Friday
• GBP/USD gapped lower towards 1.2900 after reports that UK PM May cancelled an emergency cabinet meeting which severely lessens the likelihood of an EU summit later this month
• Sources suggested EU and UK negotiators had agreed it would be impossible for the UK to unilaterally exit its backstop on Northern Ireland
• Looking ahead,...

• Major European equities are lower across the board (Eurostoxx 50 -0.8%) as the sentiment seen in Asia spills over onto the region
• WTI and Brent lost the USD 60/bbl and USD 70/bbl handles respectively, after the complex entered into bear market territory
• GBP has lost momentum and is underperforming alongside the NOK within the G10 ranks
• Looking ahead, highlights include US PPI, Baker Hughes, Fed’s Williams, Harker, Quarles, BoE’s Haldane, Tria to meet with...

• Fed kept Federal Funds Rate target unchanged at 2.00-2.25% as expected and continued to point to “further gradual increases” in rates
• Asian equity markets traded lower following a lacklustre lead from Wall St where the mid-term stock rally stalled
• EU is said to want a customs border in the Irish Sea in the event of a no-deal Brexit. However, the report noted that PM May said she would never allow this to occur
• Looking ahead, highlights include UK GDP, industrial and...

• Major European indices are mixed (Eurostoxx 50 -0.2%) after starting the session in positive territory, financials outperform while consumer discretionary names la
• The dollar index is holding relatively firm above the 96.000 handle within a fairly confined range awaiting the Fed, while GBPUSD is choppy amid conflicting Brexit reports
• Looking ahead, highlights include US weekly jobs, FOMC rate decision, ECB’s Coeure, Draghi and...

• Asian stocks were mostly higher as they took impetus from the post-election rally seen on Wall St where all majors gained at least 2%
• EU Commission see Italian budget measures leading to a deficit/GDP ratio of 2.9% vs. the Italian government's view of 2.4%, according to sources
• FX markets calmed overnight in which the greenback consolidated at session highs above the 96.00 level after the prior day’s post-election rebound
• Looking ahead, highlights include German trade, US...

• Democrats have taken control of the House, while the Republicans retain control of the Senate, as expected
• European equities are positive across the board as investors digest the consequences of a split Congress, with US equity futures edging higher
• DXY lost the 96.00 handle as currency markets factor in the prospect of policy protraction and a more difficult passage for President Trump’s fiscal agenda through a divided Congress
• Looking ahead, highlights include weekly DoE crude...

• Democrats are projected to take control of the House after having gained an estimated 26 seats, while the Republicans are projected to have picked up a net 4 seats at the Senate
• A strong start for the Democrats initially weighed on US equity futures, although stock futures then recovered after further results and projections trickled in which suggested the unlikelihood of a Blue Tsunami
• EUR/USD and GBP/USD whipsawed overnight but head into the European session with mild gains at the expense of a...

• Major European indices are mostly in the red (Eurostoxx 50 -0.4%) with outperformance in Switzerland’s benchmark
• The greenback is trading cautiously ahead of today’s US mid-term elections, with the DXY hovering just above 96.200
• Looking ahead, highlights include US JOLTS, APIs, ECB’s Lautenschlaeger, de Guindos, US mid-term elections

• Asian equity markets were mixed as weakness in China clouded over the mostly positive lead from US where the DJIA and S&P 500 closed higher
• EU is reportedly to offer a compromise regarding the Irish border in which Britain could end the temporary customs arrangement
• However, reports also suggest that UK PM May reportedly faces a Cabinet showdown with Brexit Secretary Raab who is said to have been undermined on the Irish backstop plan
• Italy Finance Minister Tria signalled to euro zone...

• European equities kick start the week mixed with the FTSE MIB weighed on by banks amid stress test results
• The Times reported UK PM May secured private concessions from Brussels that will keep Britain in a customs union and avoid a hard border, this was later dismissed as speculation by Downing Street
• Dollar has lost some of Friday’s post-NFP recovery momentum ahead of the US mid-term elections and FOMC, but the index is holding relatively firm around 96.500
• Looking ahead,...

• Asian equity markets began the week with a negative tone following last Friday’s losses on Wall St after US-China trade hopes were tempered by pessimism from NEC’s Kudlow
• UK PM May secured private concessions from Brussels that will keep Britain in a customs union and avoid a hard border, according to reports; later denied
• In FX markets, the DXY was relatively flat and held on to most of Friday’s NFP-inspired rebound with EUR/USD contained below the 1.1400 handle
...

• Main European indices are in the green, continuing the trend from Asia with material names outperforming due to trade progression between the US and China
• The Greenback is weaker vs all G10 counterparts, bar the JPY, which is still bucking the trend as an even safer currency haven
• Looking ahead, highlights include US and Canadian jobs reports, Baker Hughes rig count

• Asian stocks are mostly higher and US equity futures recover Apple-inspired losses after reports that Trump has asked the cabinet to draft a potential China trade deal
• FT reports that the EU is floating a compromise with London on the Irish border backstop that would give the UK stronger guarantees of no need for a customs border
• Looking ahead, highlights include EZ Mfg PMIs, UK construction PMI, US and Canadian jobs reports, Baker Hughes rig count