11 Sep 2023, 11:40 by Newsquawk Desk
- European bourses & US futures are firmer in a continuation of the APAC handover where action was driven by Chinese inflation
- Tesla +5.5% in pre-market trade following action by Morgan Stanley
- USD pressured by both the JPY & Yuan following Ueda and midpoint/CPI respectively
- Core fixed benchmarks remain depressed but are off worst as JGBs regroup from BoJ-inspired lows
- Crude continues to pullback despite...
11 Sep 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mixed as yields climbed following comments from BoJ Governor Ueda.
- Ueda said the BoJ cannot rule out that they might have sufficient data by year-end to determine whether they can end negative rates.
- Chinese inflation data showed headline CPI Y/Y was softer than expected but no longer in deflationary territory.
- European equity futures are indicative of a slightly higher open with Euro Stoxx 50 future...
08 Sep 2023, 11:30 by Newsquawk Desk
- US futures reside in the red but are faring better than European counterparts which have drifted since the open
- AAPL unreactive to incremental iPhone updates while Morgan Stanley believes the two-day stock sell-off is overdone
- DXY has slipped as yields lift but remains near 105.00 as the JPY wanes from best, Antipodeans outperform after recent pressure
- Core benchmarks underpinned on risk aversion ahead of Canadian jobs and a Fed...
08 Sep 2023, 06:30 by Newsquawk Desk
- APAC stocks declined amid US-China tech-related frictions and disappointing Japanese GDP revisions.
- Fed’s Logan who noted that it could be appropriate to skip an interest rate increase this month and that skipping does not imply stopping rate hikes.
- European equity futures are indicative of a slightly higher open with Euro Stoxx 50 future +0.1% after the cash market closed down 0.4% yesterday.
- DXY retreated back below 105, EUR/USD sits in...
07 Sep 2023, 11:25 by Newsquawk Desk
- European bourses spent the morning in the red but have benefited from a broader yield-induced pick up in sentiment
- Stateside, futures remain in the red but as above are off lows. NQ lags given marked AAPL pressure in the pre-market
- DXY remains firmer but has been unable to breach the 105.00 mark with GBP suffering as BoE expectations drift further
- Gilts lead European benchmarks higher, though the complex is yet to retain the bulk of...
07 Sep 2023, 06:25 by Newsquawk Desk
- APAC stocks were pressured as the region took its cue from the losses stateside, while participants also digested the latest Chinese trade data.
- Chinese trade data showed a continued contraction in the nation’s exports and imports but was not as bad as feared.
- European equity futures are indicative of a lower open with Euro Stoxx 50 future -0.3% after the cash market closed down 0.7% yesterday.
- DXY held on to yesterday's data-driven gains,...
06 Sep 2023, 11:20 by Newsquawk Desk
- European bourses & US futures are under pressure, though the latter comparably more contained pre-data/Fed speak
- DXY dips but retains an underlying bid while JPY outperforms after jawboning, CAD soft pre-BoC as crude pullsback
- A session of consolidation for crude after Tuesday’s pronounced upside, metals feature spot gold near unchanged while base peers have lifted from lows in-line with China
- EGBs pressured by hawk-Knot after fleeting...
06 Sep 2023, 06:25 by Newsquawk Desk
- APAC stocks traded mostly in the red following the subdued handover from Wall Street where sentiment was clouded by the higher yield environment.
- European equity futures are indicative of a lower open with Euro Stoxx 50 future -0.4% after the cash market closed down 0.3% yesterday.
- DXY has held on to a bulk of yesterday's gains, USD/JPY remains on a 147 handle, EUR/USD languishes firmly below 1.08.
- Japanese top currency diplomat Kanda...
05 Sep 2023, 11:25 by Newsquawk Desk
- European bourses/US futures are subdued as soft Chinese data weighs on sentiment, though equities are off lows as the US returns
- DXY continues to climb with risk-aversion and accompanying yield upside fuelling the strength, Antipodeans lag given the China data while the RBA was as-expected
- Core fixed benchmarks are in the red with action occurring around the EZ/regional and UK PMIs but for the most part this has been shortlived; US yields bid across the...
05 Sep 2023, 06:33 by Newsquawk Desk
- APAC stocks were mostly subdued after the holiday lull stateside and as the region digested disappointing data including weaker-than-expected Chinese Caixin Services PMI.
- European equity futures are indicative of a slightly lower open with Euro Stoxx 50 future -0.1% after the cash market closed down 0.1% yesterday.
- DXY is contained above the 104.00 level, EUR/USD lingers below 1.08 and AUD lags.
- RBA kept the Cash Rate Target unchanged at...
04 Sep 2023, 06:34 by Newsquawk Desk
- APAC stocks traded mostly higher led by strength in China’s property sector amid gains in Country Garden Holdings.
- Country Garden Holdings surging by a double-digit percentage after it made a payment on a ringgit-denominated bond and won approval to extend its onshore private bond maturity by three years.
- European equity futures are indicative of a higher open with Euro Stoxx 50 futures +0.3% after the cash market closed down 0.3% on...
01 Sep 2023, 11:30 by Newsquawk Desk
- Equity bourses/futures are incrementally firmer but the overall tone remains tentative ahead of key US data
- USD bounces from overnight lows but remains softer overall with peers generally contained; Yuan underpinned by PBoC action and data
- Energy benchmarks are firmer owing to the USD and Chevron/LNG updates, base metals glean support from Chinese stimulus
- Fixed benchmarks consolidate after month-end action and await data...
01 Sep 2023, 06:35 by Newsquawk Desk
- APAC stocks traded mixed following a similar lead from Wall Street, whilst Hong Kong markets were closed due to Typhoon Saola.
- PBoC is to cut FX RRR by 2ppts to 4% (prev. 6%) from September 15th, according to the central bank; Several major Chinese banks lowered their deposit rates.
- DXY traded choppily within a tight range but was knocked to session lows after the PBoC headlines induced Yuan strength, which later pared back.
- Softbank's (9984...
31 Aug 2023, 11:40 by Newsquawk Desk
- European bourses are mostly firmer after a packed morning ahead of an equally busy US agenda, ES +0.1%
- EUR & EZ yields slump after Flash HICP and balanced commentary from Schnabel on a hike/skip for upcoming meetings
- Pricing for a 25bp hike by the ECB in September down to a 30% chance from over 60% in recent sessions
- DXY bid as a result and pressuring peers, Cable dented further by Pill backing a steady for longer strategy vs...
31 Aug 2023, 06:35 by Newsquawk Desk
- APAC stocks eventually traded mostly negatively following a marginally positive handover from Wall Street, which saw an equity bid underpinned by dovish US economic data.
- DXY was caged in a tight range after being dealt another blow by US data yesterday, JPY and AUD narrowly outperformed.
- European equity futures are indicative of a flat open after Euro Stoxx 50 cash closed -0.3% yesterday.
- Chinese PMIs were mixed, manufacturing topped...
30 Aug 2023, 11:35 by Newsquawk Desk
- European bourses are in the red as expectations for the ECB September meeting turns more hawkish
- Stateside, futures are in the red with the NQ lagging slightly as yields lift
- German regional & Spanish Flash CPIs spurred ECB pricing to a circa. 60% chance of 25bp in Sep., vs 50/50 recently
- Broad debt retracement after Tuesday’s US-data inspired highs with EGBs leading post-data
- Crude benchmarks at highs as Idalia...
30 Aug 2023, 06:35 by Newsquawk Desk
- APAC stocks traded positively following the JOLTS-induced gains seen on Wall Street, although Mainland China waned throughout the session.
- DXY was steady after the prior day’s slump, with the index finding overnight support near 103.50 while AUD was dented by softer-than-expected CPI.
- BoJ Board Member Tamara said it is appropriate to keep easy policy now and he doesn’t expect the 10yr JGB yield to hit 1.0%.
- European equity futures are...
29 Aug 2023, 11:45 by Newsquawk Desk
- Equities are in the green despite fading just after the European open, further upside seen on Chinese sources
- Multiple reports via State Media and BBG that China is considering rate-related action to bolster growth
- Crude benchmarks print fresh highs on the above and as Idalia intensifies into a hurricane, gas deflates slightly after marked Monday upside
- DXY continues to rotate around 104.00 with Antipodeans outperforming while the EUR fades...
29 Aug 2023, 06:30 by Newsquawk Desk
- APAC stocks traded with an upward bias following the positive lead from Wall Street, with little in terms of fresh catalysts to dictate price action heading into month-end.
- DXY was subdued after retreating back under the 104.00 mark in early APAC hours, while debt futures tilted firmer.
- Chinese State media reports PBoC may cut banks' RRR earlier than expected to maintain reasonable ample liquidity.
- Australian union said workers at Chevron's...
28 Aug 2023, 11:30 by Newsquawk Desk
- Equities are in the green with fresh drivers limited and markets deriving impetus from APAC upside
- DXY has dipped below 104.00 with peers generally contained, JPY near lows as Ueda underlines reasons to remain ultra-accommodative
- Energy benchmarks firmer amid numerous NHC and Offshore Alliance updates
- Bunds test Friday’s trough in a return to the bearish path of least resistance
- Looking ahead, highlights include US...
28 Aug 2023, 06:40 by Newsquawk Desk
- APAC stocks kicked off the week in the green, following a similar lead from Wall Street, whilst the focus overnight was on Chinese markets after Friday's stock support measures.
- DXY was caged to a tight range above 104.00 after Friday’s choppy session, AUD outperformed whilst the JPY stood as the G10 laggard.
- ECB President Lagarde on Friday said the ECB needs to set rates at sufficiently restrictive levels for as long as necessary to achieve a timely return of...
25 Aug 2023, 11:15 by Newsquawk Desk
- European bourses and US futures are modestly firmer but the overall tone is tentative pre-Jackson Hole
- USD is bid but rangebound pre-Powell while EUR lags after dovish-leaning ECB sources, AUD outperforms as base metals lift
- Core benchmarks continue to pullback with Bunds entirely paring knee-jerk upside to sources
- ECB sources report momentum is growing for a pause as recession fears increase, via Reuters
- Crude...
25 Aug 2023, 06:34 by Newsquawk Desk
- APAC stocks traded lower following the weak handover from global counterparts after the Nvidia-related euphoria wore off.
- European equity futures are indicative of a lower open with the Eurostoxx 50 future -0.3% after the cash market closed down 0.8% yesterday.
- DXY has extended upside above 104 and is firmer vs. peers, EUR/USD sits on a 1.07 handle whilst USD/JPY has reclaimed 146 status.
- ECB's Nagel stated it is much too early to...
24 Aug 2023, 11:10 by Newsquawk Desk
- Tech/NQ lead the equity space after NVDA earnings, +7.7% pre-market, as attention turns to Jackson Hole
- USD has bounced from post-PMI lows, Antipodeans lag after recent outperformance & JPY unwinds recovery gains
- EGBs/Gilts tested post-PMI bounds before running out of steam, USTs under modest pressure
- Crude has turned positive and nat gas benchmarks are off lows after Chevron’s vote update; TTF remains markedly pressured...
24 Aug 2023, 06:35 by Newsquawk Desk
- Nvidia rose 6.6% after-hours post-earnings after reporting solid Q2 profits and announcing an additional USD 25bln in buybacks
- APAC stocks traded higher as the region took impetus from the gains on Wall St. and the Nvidia-induced rise in futures; ES +0.8%, NQ +1.3%
- European equity futures are indicative of a higher open with the Eurostoxx 50 future +0.7% after the cash market closed up by 0.2% yesterday
- DXY is contained on a 103...