• Asian equity markets remained subdued amid the headwinds from Wall St which saw the S&P 500 close lower by 2.2%
• DXY remains firmer in the FX space as the index sits just below the 100.00 threshold, weighing on major counterparts
• President Trump said the administration will be announcing new guidelines on reopening the economy on Thursday
• WTI crude futures fluctuated around the USD 20/bbl level as prices remained subdued by the ongoing demand concerns
• Looking ahead, highlights include...

• Sentiment is negative this morning following the downbeat APAC lead as Wall St. optimism dissipated
• US President Trump said plans to reopen the country are nearing completion and he will speak to all Governors shortly; additionally, he instructed administration to halt funding to the WHO as a review is conducted
• IEA Monthly Oil Market Report: Global oil demand is set to fall by a record 9.3mln BPD in 2020, SPR purchases can reach 200mln BPD in the next three months
• DXY is firmer thus far to the...

• Asian equity markets traded cautiously as the region failed to follow through on the optimism seen on Wall St
• DXY remained lacklustre after having recently slipped below the 99.00 level amid easing funding pressures and declining yields
• Brexit negotiators are to conduct a video call today to finalize next week's large-scale trade negotiations
• US President Trump stated that he instructed the administration to halt funding to the WHO as a review is conducted
• US President Trump said plans to...

• European bourses are firmer this morning with US futures stronger in excess of 1% at present; note, Eurex has been experiencing operational difficulties
• US President Trump said we're very close to completing a plan to re-open the country and hopefully ahead of schedule
• US NIH's Fauci said even though we had a bad week last week, we are starting to see flattening including in hot spots such as New York
• FX sees the DXY modestly softer this morning, while the ZAR underperforms after SARB cut rates to...

• Asian equity markets were positive across the board as sentiment picked up from the holiday lull and as the region digested mostly better than expected Chinese trade data
• Chinese trade figures showed a much narrower than expected contraction in exports and a surprise expansion to CNY-denominated imports
• DXY was softer overnight as the constructive risk appetite sapped demand for the greenback
• US President Trump says the administration is very close to completing a plan to re-open the country and is...

• Sentiment started strong but has waned on the approach to today’s plethora of risk events
• Kuwait Oil Minister says intention is moving towards reaching an agreement to lower output by a large amount between 10mln-15mln bpd.
• Kremlin declined to comment on reports their maximum cut would be 2mln BPD
• Russia and Saudi Arabia still need to settle differences regarding plans for a global oil production cut according to sources, regarding baseline and quantity
• President Trump suggested the...

• Asian equity markets were mostly higher as the region marginally benefitted from the tailwinds from Wall St
• The DXY was steady above the 100.00 level with price action rangebound following an uneventful FOMC Minutes release
• The Kuwait Oil Minister has touted the possibility of a 10-15mln bpd output reduction at today’s OPEC+ meeting
• Russia is reportedly ready to cut production by 1.6mln BPD, according to Tass citing comments from Russian Energy Minister Novak
• President Trump suggested the...

• Sentiment was hit early doors on the Eurogroup being postponed, US futures currently little changed
• Eurogroup President Centeno confirmed talks will resume tomorrow with no deal reached yet and cancelled today’s press-conference
• Core debt futures flew on Centeno’s remarks as peripheries sunk along with EUR/USD; albeit, the latter has fought back
• US President Trump said he will ask Congress for an additional USD 250bln in small businesses relief
• Iran Oil Minister Zanganeh stated in a letter...

• A tentative tone was observed in Asia-Pac bourses following the lacklustre performance stateside
• DXY was relatively steady although managed to recoup some of the recent losses to reclaim the 100.00 level
• US President Trump said the US is looking at reopening the economy very thoroughly which will be open again much sooner rather than later
• Work towards an ambitious EU economic policy response to COVID-19 is “well on track but not there yet”, according to a spokesman for Eurogroup President...

• Sentiment remains bolstered from the APAC lead, as US equity futures extend on gains
• Delegate reports intimate that Saudi and Russia are coming closer to an output deal; however, Russian press reports have subsequently pushed back on this
• Japanese PM Abe declares a State of Emergency in 7 prefectures as expected; Gov’t has approved JPY 108.2trl in stimulus
• RBA kept rates on hold at 0.25% as expected and the board reaffirmed the 3yr yield target at 0.25%
• FX sees the DXY softer, to the benefit...

• Asian equity markets traded mostly higher as the region took impetus from the strong finish on Wall St where all major indices finished higher by at least 7%
• A subdued greenback provided some respite for its major counterparts including EUR/USD which reclaimed the 1.0800 handle
• OPEC+ is likely to agree to oil production cuts on Thursday, subject to US involvement, according to sources
• UK PM Johnson was taken to intensive care after his condition was said to have worsened
• US President Trump...

• Sentiment is bolstered on a slowing of coronavirus cases over the weekend in some areas
• OPEC+ meeting was delayed a few days and will now be conducted on Thursday instead of the initially planned Monday
• Kremlin states this is for technical reasons, are ready to co-operate to ensure market stability
• Japanese PM Abe plans to announce a JPY 108tln stimulus package; wants to declare a state of emergency as soon as tomorrow
• UK PM Johnson was taken to hospital for tests due to the coronavirus...

• Asian equity markets traded mostly positive and US equity futures also began the week on the front-foot amid a slowdown in COVID-19-related deaths in some areas
• Italy showed its smallest daily increase in deaths since March 19th and slowest pace of increase in cases in 5 days
• UK PM Johnson was taken to hospital for tests due to the coronavirus which Downing Street stated was a precautionary step
• In FX markets, the DXY was relatively stable north of the 100.50 level after last week’s momentum...

• US futures are lower this morning, but have remained relatively steady at such levels; while focus remains on the improving prospects for crude
• OPEC+ are reportedly preparing for a Monday meeting; cuts in the range of 6-15mln BPD have been touted
• Reports note that Russia’s involvement in this is contingent on US cutting production; which Trump has previously stated has not been agreed to
• PBoC lowers the RRR for some banks by 1ppt; could release around CNY 400bln in funds and will be implemented in...

• Asian equity markets were mostly lower as the region failed to sustain the energy-led euphoria from Wall St
• In FX markets, price action was uneventful ahead of the key US jobs data with the DXY plateauing above the 100.00 level
• Oil prices continued to pullback after several reports pushed back on an imminent deal between global oil producers
• Saudi Arabia reportedly wants other producers such as the US, Canada, Mexico and others in G20 to take part in any cuts
• Looking ahead, highlights...

• European bourses are currently printing modest gains but US futures are notably firmer than their EU counterpart
• Crude is bolstered after constructive remarks from Trump and reports that China are to begin purchasing oil for state reserves after the recent price crash
• Fed exempted US Treasury debt and Federal Reserve deposits from supplementary leverage ratio for one year as it seeks to ease strains in Treasury market
• EU Commission proposes borrowing EUR 100bln against EU government guarantees to...

• Asian equity markets traded mixed after a weak handover from Wall St where stocks finished the day with losses of more than 4%
• DXY relatively steady overnight with the greenback’s major counterparts contained ahead of weekly jobs figures from the US
• US President Trump is to meet with the CEOs of US oil companies on Friday to talk about helping the industry
• Fed exempted US Treasury debt and Federal Reserve deposits from supplementary leverage ratio for one year as it seeks to ease strains in Treasury...

• Sentiment is subdued this morning as the absence of month-end factors has seen focus return to the virus
• White House issued 30-day social distancing guidelines and President Trump commented that following social distancing guidelines for the next 30 days is a matter of life and death
• Spanish coronavirus cases stand at 102,135 (Prev. 94,417); deaths increase by 864 to 9053 (Prev. 8189)
• Russia is not planning to boost oil output amid oversupply, sources state, Russia is not holding talks with Saudi;...

• Asian equity markets traded mixed with sentiment cautious after Wall St wrapped up the worst quarterly performance in the S&P 500 since 2008
• In FX markets, the prior day’s retreat in the DXY was stemmed after finding support around the 99.00 level
• OPEC members failed to unanimously agree on an emergency meeting of its economic commission board according to source reports
• US President Trump is to suspend certain tariffs payments for 90-days on imports such as apparel and light...

• Sentiment has generally been upbeat, but US futures are deteriorating as US players enter the market
• Chinese Manufacturing and Non-Manufacturing PMI topped estimates and the Composite PMI also printed in expansion territory
• Some downplayed the data given that it was a recovery from the prior month’s record low base and with China’s stats bureau warning the rebound does not mean the economy has returned to normal
• WHO official said coronavirus epidemic is far from over in Asia and the focus of the...

• Asian equity markets were mostly higher (before trimming some gains) as the region took its cue from the gains on Wall St and Chinese PMI figures
• Chinese Manufacturing and Non-Manufacturing PMI topped estimates and the Composite PMI also printed in expansion territory
• Some downplayed the data given that it was a recovery from the prior month’s record low base and with China’s stats bureau warning the rebound does not mean the economy has returned to normal
• DXY remained firmer after having reclaimed...

• European bourses have been choppy for much of the session, with similar performance seen in US futures; currently relatively unchaged on the day
• US President Trump announced that he is to extend federal guidelines on coronavirus to April 30th and that he sees deaths peaking in 2 weeks
• NIH’s Fauci projected the possibility of millions of coronavirus cases in the US and 100k-200k deaths
• Japan's ruling party has reportedly proposed a JPY 60tln stimulus package, which would include direct government...

• US House passed USD 2.2trln COVID-19 economic aid bill which President Trump signed on Friday
• US President Trump announced that he is to extend federal guidelines on coronavirus to April 30th and that he sees deaths peaking in 2 weeks
• NIH’s Fauci projected the possibility of millions of coronavirus cases in the US and 100k-200k deaths
• Asian equity markets resumed their selling, and US equity futures also began the week on the backfoot (before gradually recouping losses)
• In FX, the DXY was...

• Sentiment remains subdued, in a turnaround from yesterday, as focus turns from stimulus measures back to rising virus case counts
• Spain's coronavirus cases increase to 64059 from 56188; deaths at 4858 from 4089
• US confirmed cases stand at 81,378 - highest in the world, according to a Reuters calculation
• US House set a two-hour debate on coronavirus relief bill on Friday 0900 ET/1300 GMT, according to House officials
• In FX, the USD is firmer as the index fights back from a week which has...

Major APAC bourses started the day on a firm footing but later waned off highs; ASX 200 underperformed

·        US House set a two-hour debate on coronavirus relief bill on Friday 0900 ET/1300 GMT, according to House officials

·        UK and EU negotiating rounds have been abandoned amid coronavirus pandemic, according to The Guardian.

·        In...