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Newsquawk

Blog

Original insights into market moving news

Europe Market Open: APAC mostly higher amid tech strength, EZ HICP & US ISM Services ahead

07 Jan 2025, 06:40 by Newsquawk Desk

  • APAC stocks were mostly higher following the tech strength stateside where Nvidia briefly reclaimed the largest market cap title and closed at a fresh record.
  • DXY felt some slight reprieve from the prior day's selling pressure, EUR/USD held on to most of yesterday's gains, USD/JPY briefly breached the 158.00 level to the upside.
  • Canada reportedly considers an early release of retaliatory tariffs against the US, according to The Globe and...
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US Market Open: European tech lifted after Foxconn posts record Q4 revenue, USD dips lower

06 Jan 2025, 11:05 by Newsquawk Desk

  • European bourses are generally in the green; the NQ outperforms, with Tech lifted after Foxconn reported record Q4 revenue.
  • USD is on the backfoot which has helped to lift G10 peers, JPY underperforms.
  • USTs are pressured ahead of 3yr supply; Gilts underperform after a survey showed that 55% of UK businesses intend to lift prices in the next three months (prev. 39%).
  • Crude and gold are on the backfoot despite the softer...
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Europe Market Open: APAC Stocks mostly subdued amid mixed Caixin PMI, German CPI ahead

06 Jan 2025, 06:49 by Newsquawk Desk

  • APAC stocks traded mostly subdued following the lack of macro catalysts over the weekend and as participants digested the mixed signals from Chinese Caixin PMI data, while Japanese markets underperformed in their first trading session of 2025.
  • Hang Seng and Shanghai Comp were choppy following the somewhat mixed PMI data in which Chinese Caixin Services PMI data beat expectations, but the Caixin Composite PMI figure slowed.
  • US Republican Mike Johnson was re-elected...
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US Market Open: US equity futures gain, USD is a little lower ahead of US ISM Manufacturing

03 Jan 2025, 10:55 by Newsquawk Desk

  • European bourses are generally lower whilst US futures gain modestly.
  • USD is a little lower, holding around the 109.00 mark.
  • Mild divergence in fixed income, USTs a little higher whilst EGBs are pressured
  • Commodities fail to benefit from a softer Dollar as crude gives back recent strength.
  • Looking ahead, US ISM Manufacturing PMI, US House Speaker Vote, Fed’s Barkin & ECB's Lane.
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Europe Market Open: APAC stocks mixed & PBoC reportedly plans policy overhaul

03 Jan 2025, 06:50 by Newsquawk Desk

  • APAC stocks were ultimately mixed with most major indices higher although the gains were capped following the negative handover from the US.
  • PBoC is reportedly to plan a policy overhaul as pressure mounts on the economy; likely it would cut interest rates at an appropriate time.
  • European equity futures indicate a slightly softer cash open with Euro Stoxx 50 futures down 0.1% after the cash market closed higher by 0.5% on Thursday.
  • USD is a...
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US Market Open: US equity futures gain & USD flat; sub-par China Manufacturing PMIs hit sentiment in the region

02 Jan 2025, 11:15 by Newsquawk Desk

  • European bourses give back early morning strength; US futures gain with modest outperformance in the NQ.
  • USD began the session on a weaker footing but is now flat.
  • USTs firmer after China Manufacturing PMI and ahead of their own metrics
  • Crude on a firmer footing while base metals are capped by sub-par Chinese PMIs.
  • Looking ahead, US Jobless Claims, Manufacturing PMI, Refunding Announcement.
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US Market Open: US futures modestly higher, USTs edge lower ahead of supply

24 Dec 2024, 10:05 by Newsquawk Desk

  • Stoxx 600 edges a little higher, US futures trade either side of the unchanged mark.
  • DXY is essentially flat with price action ultimately rangebound in quiet newsflow.
  • USTs are slightly softer ahead of US supply; Bunds are closed for trade.
  • Crude oil holds an upward bias, base metals are modestly firmer.
  • Looking ahead, Richmond Fed Index and supply from the US.
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Europe Market Open: Yen modestly firmer following comments from Japan’s Kato

24 Dec 2024, 06:45 by Newsquawk Desk

  • APAC stocks traded mostly firmer in choppy trade following a similar session on Wall Street, where stocks experienced volatility with low volumes amid the Christmas period.
  • China convened a national fiscal work conference in Beijing, according to the Ministry of Finance, and said they will step up fiscal spending and accelerate spending speed in 2025.
  • Japanese Finance Minister Kato expressed concern about recent FX moves. USD/JPY gradually dipped under...
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US Market Open: European equities mostly lower while US futures gain, USD firmer ahead of data

23 Dec 2024, 10:55 by Newsquawk Desk

  • European bourses are mostly lower, US futures higher with modest outperformance in the NQ.
  • Dollar is firmer and holding around 108.00, GBP little changed after UK shows no growth in Q3.
  • Bunds & Gilts pressured in thin trade, USTs flat into data.
  • Gas heats up on updates out of Qatar and Russia; Crude/XAU flat.
  • Looking ahead, Canadian GDP (Oct), US Consumer Confidence & Durable Goods, supply from...
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Europe Market Open: US gov’t adverts a shutdown, APAC stocks firmer across the board

23 Dec 2024, 06:42 by Newsquawk Desk

  • APAC stocks opened firmer across the board on a holiday-thinned week, following a similar performance from Wall Street on Friday.
  • US government has enacted a budget to avert a shutdown, but the deal does not include President-elect Donald Trump's proposal to raise the federal borrowing limit.
  • DXY was flat in a 107.68-84 range to start the holiday-thinned week, with quiet news flow; Crude futures showed an upward bias amid the positive risk...
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US Market Open: Stocks continue to slide on Quad Witching, USD edges lower ahead of PCE & Fed speak

20 Dec 2024, 11:05 by Newsquawk Desk

  • Stocks continue to slide on Quad Witching.
  • USD gives back some of its FOMC-induced gains, JPY gains after the region’s inflation data and overnight jawboning.
  • USTs and Bunds are incrementally firmer but ultimately contained into PCE and Fed speak.
  • Crude continues to falter while base metals attempt a recovery.
  • Looking ahead, US PCE, Canadian Retail Sales, Quad Witching, Fed's Williams, Daly &...
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Europe Market Open: US futures tick lower amid shutdown uncertainty; Trump threatens the EU with tariffs

20 Dec 2024, 06:45 by Newsquawk Desk

  • APAC stocks eventually traded mixed following a mostly lower open as markets digested a slew of central bank decisions whilst still feeling some of the hangover from the Fed.
  • US equity futures gradually trickled lower after reports the US House of Representatives defeated the bill to temporarily fund the federal government and avert agency shutdowns beginning on Saturday.
  • USD/JPY was choppy overnight as traders reacted to the BoJ presser and then hot Japanese CPI...
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US Market Open: US equity futures gain, DXY gives back some of post-FOMC strength, JPY hit post-Ueda

19 Dec 2024, 11:00 by Newsquawk Desk

  • European stocks tumble post-FOMC, MU -15% pre-market weighing on chip peers in Europe; US futures attempting to recoup yesterday’s losses.
  • USD gives back some of yesterday's post-FOMC gains, JPY hit after BoJ Governor Ueda’s press conference.
  • US yield curve steepens, JGBs outperform post-Ueda, Gilts lag pre-BoE.
  • Crude lifts incrementally off Wednesday's lows, XAU fares better as the USD pauses for breath.
  • Looking...
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Europe Market Open: Fallout from the hawkish Fed reverberates, BoJ maintained rates

19 Dec 2024, 06:30 by Newsquawk Desk

  • The Fed cut rates by 25bps, as expected, to 4.25-4.5% in an 11-1 split, with Hammack voting to leave rates unchanged; the median dot plot for 2025 and 2026 FFR forecasts were lifted above expectations.
  • Fed Chair Powell said the decision was a "closer call", but the "right call", suggesting there was a discussion surrounding holding rates at this meeting, and that "extent and timing language" shows Fed is at or near the point of slowing rate cuts, and the slower pace of cuts reflects...
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US Market Open: USD broadly firmer vs peers ahead of the FOMC; US futures edge higher

18 Dec 2024, 10:50 by Newsquawk Desk

  • European bourses are modestly on the front foot; US futures follow suit ahead of the FOMC decision.
  • USD broadly firmer vs. peers ahead of FOMC, GBP lower post-inflation.
  • USTs are contained, Bunds dip lower and reside at session lows.
  • Crude recovers from Tuesday's pressure, metals contained.
  • Looking ahead, US Building Permits, FOMC Announcement and Chair Powell's Press Conference, Earnings from General Mills, Jabil,...
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Europe Market Open: APAC stocks mixed ahead of FOMC meeting; Honda and Nissan to begin merger talks

18 Dec 2024, 06:40 by Newsquawk Desk

  • APAC stocks eventually traded mixed with sentiment somewhat cautious following the negative lead from Wall Street.
  • US assets traded sideways overnight as the focus turns to the FOMC announcement and Chair Powell's press conference.
  • Bitcoin saw hefty losses overnight as prices retreated to under USD 104,000 despite a lack of newsflow.
  • Honda Motor (7267 JT/HMC) and Nissan (7201 JT/NSANY) to begin merger talks amid EV competition, according to...
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US Market Open: GBP benefits from hot UK wages data, DXY bid amid a tepid risk tone ahead of US Retail Sales

17 Dec 2024, 10:57 by Newsquawk Desk

  • European bourses are mostly in the red, but sentiment has improved a touch since the cash open; US futures modestly lower.
  • DXY back above 107.00, GBP posted early gains after hot wages data.
  • Gilts lag as UK wage data essentially removes any chance of a Dec. BoE cut ahead of CPI; USTs a little lower ahead of US Retail Sales.
  • Commodities succumb to the tepid risk tone and ongoing USD strength.
  • Looking ahead, US Retail...
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Europe Market Open: APAC stocks mixed, DXY a little firmer ahead of US Retail Sales

17 Dec 2024, 06:45 by Newsquawk Desk

  • APAC stocks eventually traded mixed after the region initially showed a positive bias, taking cues from Wall Street, and in the absence of macro newsflow with looming risk events.
  • DXY fluctuated in a narrow range whilst USD/JPY was choppy on either side of 154.00 and Antipodeans were subdued.
  • China is to maintain a growth target of "around 5%" for 2025, according to Reuters sources. China is to target a budget deficit of 4% in 2025 (vs 3%...
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US Market Open: Tepid risk tone weighs on European indices, DXY flat ahead of US PMIs

16 Dec 2024, 11:08 by Newsquawk Desk

  • European bourses are mostly lower; US futures are modestly in the green.
  • DXY is flat, and GBP strengthens post-PMI while the JPY lags a touch.
  • EGBs softer with OATs underperforming slightly post-Moody's downgrade, PMIs in focus.
  • Crude slips amid a tepid risk tone, metals largely contained.
  • Looking ahead, US Flash PMIs, ECB's Schnabel and BoC’s Macklem.
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Europe Market Open: APAC stocks lower, EUR unfazed after Moody's downgrades France ahead of EZ PMIs

16 Dec 2024, 06:50 by Newsquawk Desk

  • APAC stocks saw an uninspiring start to the week following the mixed session on Wall Street on Friday and ahead of this week's risk events including the final FOMC, BoJ, and BoE meetings of the year.
  • Moody's cut France’s rating to "Aa3" from "Aa2", outlook stable, in an unscheduled rating revision, citing political fragmentation.
  • South Korean MPs have successfully voted to impeach President Yoon in their second attempt. Yoon was suspended from official duties on...
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US Market Open: Risk sentiment improves with havens on the backfoot, DXY around 107.00

13 Dec 2024, 11:22 by Newsquawk Desk

  • European bourses and US futures are generally firmer with specifics light, diverging from soft APAC trade; AVGO +15%.
  • DXY trades around 107.00, GBP hit by soft GDP, JPY lags.
  • Fixed benchmarks in the red post-ECB and ahead of a blockbuster week.
  • Commodities contained, focus remains on geopols after Russian strikes on Ukrainian infrastructure and Blinken comments.
  • Looking ahead, US Import/Export Prices, and Baker...
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Europe Market Open: APAC stocks traded lower as sentiment was hit following the Chinese Economic Work Conference

13 Dec 2024, 06:50 by Newsquawk Desk

  • APAC stocks traded lower across the board following a similar session on Wall Street, whilst sentiment was also hit after the Chinese Economic Work Conference
  • ES and NQ traded with gains overnight as SPX and NDX constituent Broadcom (AVGO) surged 14% post-earnings
  • DXY held an upward bias and extended on gains after the incursion into 107.00 territory in late US trade; USD/JPY rose above 153.00
  • European equity futures are indicative of a...
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US Market Open: SNB surprise with a 50bps cut, Euro steady ahead of ECB

12 Dec 2024, 11:35 by Newsquawk Desk

  • European bourses are mixed into the ECB, SMI outperforms post-SNB. US futures are modestly softer.
  • SNB delivered a larger-than-expected 50bps cut and reiterated a willingness to intervene in the FX market as necessary.
  • USD steady with peers and for the most part contained aside from CHF underperformance and Antipodean outperformance, AUD driven by jobs data.
  • Fixed benchmarks are at/towards session lows into the ECB and US data thereafter,...
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Europe Market Open: APAC stocks trade higher, European futures flat ahead of the ECB

12 Dec 2024, 06:55 by Newsquawk Desk

  • APAC stocks eventually mimicked the sentiment on Wall Street and traded mostly higher following a slow start to the session and despite a lack of macro news flow.
  • DXY was flat whilst JPY saw mild strength and AUD was boosted by a strong Aussie jobs report after a dovish RBA.
  • US President-elect Trump has invited Chinese President Xi to attend his inauguration next month; it was not clear whether Xi has accepted the invitation, according to CBS...
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US Market Open: DXY bid on reports that China is considering allowing the Yuan to weaken in 2025; US CPI due

11 Dec 2024, 11:08 by Newsquawk Desk

  • European bourses began the session entirely in the red, but sentiment has improved to display a mixed picture; NQ incrementally outperforms in the US.
  • Dollar bid as markets digest reports of China allowing a weaker yuan, JPY choppy amid BoJ sources.
  • China's top policymakers are considering allowing the Yuan to weaken in 2025 as Trump tariff looms, via Reuters citing sources
  • Mixed performance for paper, US 10yr supply...
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