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  • APAC stocks traded mostly in the green following the similar performance stateside although gains were capped amid relatively quiet newsflow.
  • European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.3% after the cash market closed lower by 0.1% on Friday.
  • FX markets are broadly steady, DXY holds above 106, EUR/USD sits below 1.06, JPY is a touch firmer.
  • Crude futures held on to the prior day's gains,...
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  • European bourses are generally on the backfoot, US futures are mixed.
  • Dollar is incrementally lower, JPY underperforms after BoJ Governor Ueda continued to signal a lack of urgency to hike rates.
  • USTs are marginally lower whilst Bunds extend losses and slips below 132.00.
  • WTI & Brent are firmer in what has been a choppy session, XAU eyes USD 2.6k to the upside.
  • Looking ahead, ECB’s Lagarde, Lane & Fed’s...
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  • APAC stocks began the week with a mildly positive following last Friday's tech-led declines on Wall St.
  • European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.8% on Friday.
  • FX markets are broadly contained with DXY, EUR/USD and USD/JPY on 106, 1.05 and 154 handles respectively.
  • US President Biden’s administration lifted restrictions on Ukraine...
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  • European bourses are mixed vs initially opening entirely in the red; US futures sit in negative territory.
  • DXY is on the backfoot and holds around 106.50, JPY outperforms.
  • USTs are under pressure in a continuation of the price action seen following a hawkish-leaning Powell; Gilts bid after the UK’s downbeat GDP metrics.
  • Crude is in the red, XAU is flat, whilst base metals hold a positive bias alongside the pullback in the...
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  • APAC stocks traded with a predominantly positive bias albeit with gains capped following the uninspiring handover from Wall Street and as participants digested recent earnings releases and mixed Chinese activity data.
  • Fed Chair Powell struck a hawkish tone as he stated that the economy is not sending signals that the Fed needs to be in a hurry to lower interest rates; money markets now price in around a 60% chance of a 25bps cut in December versus 80%...
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  • European bourses gain with clear outperformance in the Euro Stoxx 50, lifted by gains in ASML +5.2% after it reiterated its 2030 sales outlook; US futures are modestly firmer whilst the RTY outperforms.
  • Dollar continues to extend gains having surpassed 107.00, USD/JPY tops 156.00.
  • Bonds are subdued with slight underperformance in Gilts ahead of Fed Chair Powell and BoE Governor Bailey.
  • Metals succumb to the Dollar strength while crude trades...
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  • APAC stocks were mostly subdued following the indecisive lead from Wall Street. DXY extended above 106.50 and 10yr UST futures were lacklustre, while there was a lack of fresh major catalysts.
  • Fed's Musalem (2025 voter) noted recent information suggests that the risk of inflation moving higher has risen and risks to the job market remain unchanged or have fallen.
  • Fed's Schmid (2025 voter) said "it remains to be seen" how much more the Fed will cut rates and where...
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  • European bourses are mostly on a modestly firmer footing; US futures are incrementally lower ahead of US CPI.
  • Dollar is flat, JPY marginally underperforms with USD/JPY briefly topping 155.00.
  • USTs are incrementally firmer and ultimately in stasis ahead of US CPI; Gilts continued to underperform.
  • Crude and precious metals gain but base metals remain subdued.
  • Looking ahead, US CPI, EIA STEO, Speakers including Fed’s...
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  • APAC stocks were mostly subdued following the negative lead from the US alongside higher yields.
  • European equity futures are indicative of a lower cash open with the Euro Stoxx 50 future -0.4% after the cash market closed lower by 2.3% on Tuesday.
  • DXY remains above the 106 mark, USD/JPY has just crossed above the 155 level, EUR/USD sits just above 1.06.
  • Bunds are lower, crude is marginally firmer, BTC has pulled back from its record...
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  • Equities are on the backfoot; the RTY underperforms, paring some of the Trump-induced strength in the prior session.
  • Dollar continues to advance higher, GBP on the backfoot following mixed jobs data which saw an uptick in unemployment but wages remain sticky.
  • Bonds are mixed, USTs are flat ahead of several Fed speakers whilst Bunds are bid after poor German ZEW figures.
  • Crude holds an upward bias, XAU/base metals are pressured by the...
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  • APAC stocks were ultimately mixed and failed to sustain the momentum from Wall St.
  • European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.9% after the cash market closed higher by 1.1% on Monday.
  • DXY remains on the front foot, EUR/USD is stuck on a 1.06 handle, USD/JPY briefly moved above the 154 mark.
  • Bitcoin was choppy overnight after the prior day's surge which lifted prices above the USD 89k level...
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  • Equities are entirely in the green, with a strong European morning thus far; the RTY outperforms.
  • DXY is on a firmer footing with the Trump Trade still in action, JPY underperforms following the BoJ SOO which highlighted the lack of urgency to hike.
  • Bonds are mixed, with Bunds firmer amid suggestions that Chancellor Scholz could bring forward a vote of no-confidence; Treasury cash trade is closed on account of US Veterans Day.
  • Crude slips on...
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  • APAC stocks began the week mostly subdued following the recent China fiscal stimulus disappointment and softer-than-expected Chinese inflation data.
  • European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 1.0% on Friday.
  • German Chancellor Scholz said he wouldn't have a problem with a vote of confidence before Christmas.
  • DXY is steady and just above the 105 mark,...
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  • European bourses are entirely in the red, with sentiment hit after China’s NPC press conference disappointed markets; US futures remain flat.
  • DXY is slightly firmer, with the JPY strong whilst the Antipodeans lag given the lack of fresh stimulus measures from China.
  • Bonds are on a firmer footing, with modest outperformance in Gilts and as USTs await Fed speak from Bowman & Musalem.
  • Crude oil, XAU and base metals are all on the backfoot,...
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  • APAC stocks were ultimately mixed despite the early momentum following the fresh record levels on Wall St and a bout of rate cuts by major central banks, with gains capped as participants awaited a potential Chinese fiscal stimulus announcement.
  • FOMC cut rates by 25bps to 4.50-4.75%, as expected, in a unanimous decision and removed language about having gained greater confidence in inflation moving sustainably towards the 2% target. Fed Chair Powell said during the Q&A that the election...
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  • European bourses are modestly firmer across the board, with US futures also slightly higher, but ultimately taking a breather following the significant strength in the prior session.
  • Dollar is giving back recent gains, Antipodeans outperform attempting to claw back post-election losses amid resilience in China.
  • USTs are a touch firmer awaiting today’s FOMC meeting, Bunds are the clear underperformer after the German coalition...
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  • APAC stocks held a mostly positive bias as the dust settled from the US election, participants also digested Chinese trade data.
  • European equity futures are indicative of a firmer cash open with the Euro Stoxx 50 future +0.3% after the cash market closed lower by 1.4% on Wednesday.
  • DXY has pulled back onto a 104 handle with antipodeans leading the fight back vs. the USD, USD/JPY sits on a 154 handle.
  • German Chancellor Scholz dismissed...
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  • US Presidential Election results are indicative of a Trump victory and Republicans taking the Senate; House is too close to call.
  • Equities soar with clear outperformance in the RTY with Trump poised to win the US election; Novo Nordisk +7.1% benefits after posting strong Q3 Wegovy sales.
  • Dollar flies higher, DXY topped 105.00, before paring back to a current 104.90; EUR & JPY the clear underperformers amongst the G10s.
  • USTs pressured and...
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  • US Presidential Election results are indicative of a Trump victory and Republicans taking the Senate; House is too close to call.
  • US futures have ripped higher, while European futures have been hit given the potential EZ growth implications.
  • DXY is currently up 1.5% and has seen its largest jump since March 2020; EUR, JPY and antipodeans are suffering.
  • In the fixed income space, US yields are higher across the curve with the curve...
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  • European bourses are mixed and trading tentatively on either side of the unchanged mark; US futures are incrementally firmer/flat.
  • Dollar is slightly softer on US election day, Antipodeans benefit from constructive Chinese PMIs and Aussie was fairly unreactive to an unsurprising hold at the RBA.
  • USTs are essentially unchanged, Bunds are pressured alongside Gilts; the latter was weighed on by its 2034 auction.
  • Upward bias across industrials...
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  • APAC stocks were ultimately mixed with most major indices in the green after further encouraging Chinese PMI data.
  • The RBA decision provided little surprise and the SoMP included a reduction in GDP and household consumption forecasts.
  • US equity futures were rangebound, DXY was flat, and UST futures traded sideways as all eyes now turn to the US Presidential Election.
  • European equity futures are indicative of an uneventful cash open with the...
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  • European bourses generally trade very modestly in positive territory, alongside slight gains in US futures.
  • PredictIt odds shifted over the weekend in favour of a Harris election victory; NYT/Siena final polls showed the race was deadlocked in 6/7 battleground states.
  • USD is on the backfoot as a shift in polling in the US election towards Harris has seen a scaling back of "Trump trades" across the board.
  • USTs benefit from a scaling back of...
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  • APAC stocks began the week mostly positive but with the gains capped ahead of this week's major risk events including the US Presidential Election.
  • PredictIt odds shifted over the weekend in favour of a Harris election victory; NYT/Siena final polls showed the race was deadlocked in 6/7 battleground states.
  • European equity futures are indicative of a steady cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 1.0% on...
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  • European bourses are entirely in the green alongside modest strength in US futures following post-earning strength in Amazon/Intel & ultimately outmuscling losses in Apple.
  • Dollar is firmer, CHF sinks after the region’s inflation data and JPY pares recent strength.
  • Gilts continue to underperform with benchmarks generally softer pre-Payrolls.
  • Crude is lower as risk-premium returns into the weekend though participants have NFP to navigate...
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  • APAC action mixed as Amazon and Apple diverge, China outperforms on further encouraging PMI data
  • DXY little changed around 104.00, USD/JPY found support at 152.00
  • Fixed benchmarks contained after recent marked Gilt-led pressure, awaiting US data
  • Crude underpinned on reports that Iran is preparing a major retaliatory strike from Iraq within days.
  • Looking ahead, highlights include US NFP, ISM Manufacturing PMI,...
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