23 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks were mixed and only partially sustained the momentum from the tech-led rebound on Wall St.
- US VP Harris's campaign secured enough delegates to attain the Democratic Presidential nomination.
- European equity futures indicate a mildly higher open with Euro Stoxx 50 futures up 0.2% after the cash market finished with gains of 1.5% on Monday.
- USD is mixed vs. peers, JPY is the best performer across the majors, EUR/USD is...
22 Jul 2024, 10:55 by Newsquawk Desk
- European equities are entirely in the green and reside near session highs; US futures are modestly firmer with slight outperformance in the NQ.
- US President Biden has dropped out of the Presidential race and endorsed VP Harris.
- Dollar is flat, JPY outperforms after catching a bid in early European trade, whilst the Antipodeans lag after disappointing stimulus efforts by the PBoC.
- USTs are flat and unreactive to Biden dropping out of the...
22 Jul 2024, 06:36 by Newsquawk Desk
- US President Biden has dropped out of the Presidential race and endorsed VP Harris
- PBoC surprised markets by cutting its 7-day reverse repo rate by 10bps
- APAC stocks mostly began the week on the back foot after last Friday's selling pressure on Wall St
- European equity futures indicate a higher open with Euro Stoxx 50 futures up 0.5% after the cash market finished lower by 0.9% on Friday
- DXY is steady and in a...
19 Jul 2024, 11:19 by Newsquawk Desk
- Equities are entirely in the red, with sentiment hit amid ongoing worldwide IT outages, sparked by CrowdStrike (-14%) updates, which have impacted Microsoft (-2.2%) and Nvidia (-1%) services.
- Dollar is firmer, G10s are mostly lower, with slight underperformance in the Antipodeans given the risk tone, GBP slips post-Retail Sales.
- Bonds are pressured and trading within a tight range, having initially been boosted by the broader risk...
19 Jul 2024, 06:45 by Newsquawk Desk
- APAC stocks mostly followed suit to the losses on Wall St where sentiment was dampened and the Trump trade was seen in play as President Biden's re-election chances dwindled further.
- Chinese senior party official for economic affairs said China's economic recovery is not strong enough and needs to implement macro policies more effectively.
- Several people close to US President Biden reportedly said they believe he has begun to accept the idea that he may have to drop...
18 Jul 2024, 11:26 by Newsquawk Desk
- European equities are choppy, Tech is lower in Europe and fails to benefit from strong TSMC earnings & guidance, but has helped to lift the NQ
- Dollar is firmer, AUD benefits on the region’s jobs data, GBP back below 1.30 post-wages
- Bonds are pressured ahead of the ECB; Bunds saw two-way action around the French & Spanish auctions
- Crude erases initial strength, XAU incrementally firmer and base metals are...
18 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks followed suit to the tech rout stateside owing to the recent rotation play, concerns of China tech curbs and tariff fears.
- European equity futures indicate a slightly softer open with Euro Stoxx 50 futures down 0.1% after the cash market finished lower by 1.1% on Wednesday.
- DXY remains on a 103 handle, EUR/USD holds onto 1.09 status and Cable is testing support at 1.30.
- CNN quoted a senior adviser stating that US President...
17 Jul 2024, 11:44 by Newsquawk Desk
- European equities almost entirely in the red with sentiment hit following ASML earnings; results which has led to significant NQ weakness
- Dollar is weaker and slips to 103.70, carry trade unwinding seen with significant strength in JPY & CHF, GBP climbs past 1.30
- Fixed complex is rangebound, with Bunds underpinned but USTs capped near Tuesday’s best into supply
- Crude is incrementally firmer, initially catching a bid amid the weaker...
17 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks were mixed despite the positive handover from Wall St, while China trade frictions and tariff threats clouded over Asia-Pac sentiment.
- NZD/USD was ultimately boosted despite the softer-than-expected New Zealand CPI data for Q2 as the attention turned to the 5.4% surge in non-tradeable consumer inflation; DXY struggled for direction.
- Former President Trump said the Fed should abstain from cutting rates before the November election and wants to bring the...
16 Jul 2024, 11:05 by Newsquawk Desk
- European equities are entirely in the red; US futures gain, and with clear outperformance in the RTY
- USD gains vs NZD, AUD & JPY, EUR/USD reclaims 1.09 and USD/JPY holds around 158.40
- Bonds are higher following Fed Chair Powell's comments and with yields unwinding some of their Trump-induced steepening
- Crude resides at session lows, XAU gains and eyes its ATH and base metals are mostly lower
- Looking ahead, US...
16 Jul 2024, 06:33 by Newsquawk Desk
- APAC stocks were mixed amid a quiet calendar and after the choppy but positive performance stateside.
- Fed Chair Powell acknowledged more inflation progress and that recent inflation readings added confidence in inflation falling.
- European equity futures indicate a softer open with Euro Stoxx 50 future -0.3% after the cash market closed down by 1.2% on Monday.
- DXY is marginally higher with the USD mainly firmer vs. JPY, AUD and NZD, EUR/USD...
15 Jul 2024, 11:05 by Newsquawk Desk
- European bourses are mostly lower, but sentiment has improved in recent trade; Burberry -15% and Swatch -10% both warn on China weakness; US equity futures gain
- Dollar is subdued but still holds just above 104.00, EUR/USD at 1.09 & the Kiwi lags
- Bonds were initially subdued in reaction to the assassination attempt on former President Trump, pressure which has since pared
- Crude is choppy and modestly higher, XAU holds onto USD 2400/oz,...
15 Jul 2024, 06:30 by Newsquawk Desk
- APAC stocks traded mixed as participants reflected on the Trump assassination attempt over the weekend and a slew of Chinese data.
- Chinese GDP and Retail Sales missed forecasts, while House Prices further deteriorated but Industrial Production topped estimates.
- European equity futures indicate a negative open with Euro Stoxx 50 future -0.6% after the cash market closed up by 1.3% on Friday.
- Initial strength in DXY faded, EUR/USD sits on...
12 Jul 2024, 11:08 by Newsquawk Desk
- European bourses are entirely in the green, US futures are mixed with the ES and NQ flat whilst the RTY continues to outperform
- Dollar is flat having erased earlier gains, USD/JPY back below 160 after choppy trade overnight
- Bonds are pressured giving back some of the post-CPI strength
- Crude is firmer and resides near session highs, XAU lower and base metals are mixed
- Looking ahead, US PPI, Uni. of Michigan Prelim.,...
12 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks took their cues from the mixed performance stateside where softer-than-expected CPI data boosted Fed rate cut bets and spurred a stock rotation out of large-cap tech into small-cap cyclicals.
- DXY found some slight reprieve following yesterday's selling, USD/JPY swung between gains and losses in volatile trade; Nikkei said the BoJ likely conducted rate checks in EUR/JPY today.
- Fed's Daly (voter) said it is likely some policy adjustments will be warranted...
11 Jul 2024, 11:14 by Newsquawk Desk
- European bourses are entirely in the green whilst US futures take a breather from the prior day’s advances
- Dollar is incrementally softer, GBP benefits from the region’s strong GDP metrics
- Bonds are flat/lower, with Treasuries standing pat as focus remains on US CPI, Gilts marginally underperform
- Crude is incrementally higher, having pared overnight gains; XAU at session highs and base metals are mixed
- Looking ahead,...
11 Jul 2024, 06:35 by Newsquawk Desk
- APAC stocks took impetus from Wall St where the S&P 500 and Nasdaq rose to fresh record highs once again.
- European equity futures indicate a mildly positive open with Euro Stoxx 50 future +0.2% after the cash market closed up by 1.1% on Wednesday.
- DXY sits just below the 105 mark, antipodeans lead, Cable has held onto recent gains and USD/JPY continues to edge higher.
- BoE's Mann said that wage growth is still far away from being...
10 Jul 2024, 11:15 by Newsquawk Desk
- Equities are entirely in the green and hold near session highs
- Dollar is flat and just above 105, NZD underperforms after the RBNZ kept rates unchanged but language struck a less hawkish tone
- Bonds are firmer ahead of US 10yr supply and another appearance from Chair Powell
- Crude was initially subdued following Chinese inflation data, but caught a bid on geopolitical headlines; XAU is incrementally firmer
- Looking...
10 Jul 2024, 06:25 by Newsquawk Desk
- APAC stocks were mixed following the indecisive performance stateside where the major indices finished rangebound after Fed Chair Powell largely stuck to the script.
- DXY traded rangebound, USD/JPY continued its gradual upward trend, NZD was pressured after RBNZ, and CNY did not react to softer-than-expected Chinese CPI.
- RBNZ unsurprisingly maintained the OCR at 5.50% although its language was less hawkish as it added that the extent of restraint will be tempered...
09 Jul 2024, 11:08 by Newsquawk Desk
- European equities are mostly lower, US futures are modestly in the green ahead of Fed Chair Powell’s testimony
- Dollar is flat and G10s are uneventful vs the Dollar, though the Kiwi lags
- Bonds are lower, with focus today on Fed Chair Powell and US 3yr supply
- Crude is subdued and near session lows, XAU nurses recent losses
- Looking ahead, NFIB Business Optimism Index, Comments from Fed’s Powell, Barr & Bowman,...
09 Jul 2024, 06:25 by Newsquawk Desk
- APAC stocks were mixed as the region only partially sustained the positive mood seen in the US where the S&P 500 and Nasdaq 100 extended on record highs.
- European equity futures indicate a lower open with Euro Stoxx 50 future -0.2% after the cash market closed down by 0.2% on Monday.
- DXY lingers around the 105 mark, USD/JPY eyes 161 to the upside with FX markets broadly contained.
- Hamas said Israel's PM Netanyahu is placing hurdles...
08 Jul 2024, 11:18 by Newsquawk Desk
- European bourses are entirely in the green, paring initial losses as markets digest the fallout from the French second-round parliamentary election
- French second-round election results pointed to a hung parliament in which the left-wing New Popular Front surprisingly won the most seats followed by Macron's centrists and with the far-right National Rally in third place
- DXY is incrementally softer & EUR scales back initial French-induced...
08 Jul 2024, 06:40 by Newsquawk Desk
- APAC stocks were mostly lower as the region failed to resume the momentum from last Friday's dovish post-NFP reaction, while the weekend macro news flow was light aside from the French election results.
- EUR/USD was mildly pressured after the French second-round election results pointed to a hung parliament in which the left-wing New Popular Front surprisingly won the most seats followed by Macron's centrists and with the far-right National Rally in third...
05 Jul 2024, 11:20 by Newsquawk Desk
- European bourses have been tilting higher with the region benefitting from the removal of some political risk in the UK, Germany & France
- Stateside, futures pivoting the unchanged mark into Payrolls
- FX has seen a slightly softer start for the USD, weighed on by EUR & GBP; USD/JPY slips to near 160.50
- Fixed benchmarks generally firmer but only modestly so, EGBs unreactive to data and German fiscal...
05 Jul 2024, 06:50 by Jay Woods
- APAC stocks traded somewhat mixed in the absence of a lead from the US owing to the Independence Day holiday.
- There was also a lack of fireworks from the UK election exit polls, with the latest results showing that the Labour Party has won a majority as expected.
- DXY briefly dipped under 105 with quiet macro newsflow ahead of NFP, GBP/USD traded flat within a tight 1.2755-72 range, and USD/JPY slid beneath the 161.00 level with early pressure seen...