• Asian equity markets traded mixed as the region failed to sustain the momentum from the tech-led advances on Wall St
• EU leaders will give the UK an extension until May 22nd if parliament agrees to May’s deal next week, if rejected, the UK will have until April 12th to indicate a way forward
• In FX markets, the DXY was subdued overnight below the 96.50 level as the prior day’s recovery from the post-FOMC selling eventually lost steam
• Looking ahead, highlights include French, German, EU & US PMIs...

• Major European indices are mixed, but are generally little changed [Euro Stoxx 50 U/C], after dovish FOMC; underperformance in financials on this.
• SNB unchanged & Norges Bank hike as expected
• DXY has paired some losses, largely on other G10 currencies failing to capitalise
• Looking ahead, highlights include, US Initial Jobless Claims, Leading Index & Philly Fed, EZ Consumer Confidence, Japanese CPI, European Council Meeting (21/22 March), BoE Rate Decision
• Earnings:...

• Fed kept the Funds Target Rate unchanged as expected, dot plot now looks for no hikes in 2019 and one in 2020, intends to slow the balance sheet run off in May before ending in September
• Asian equity markets eventually traded mostly higher in the aftermath of a dovish FOMC, although gains in major US indices were later pared due to underlying growth and trade concerns
• UK PM May confirmed she sent a letter to EU’s Tusk in which she requested an Article 50 extension to 30th June and said the Brexit delay is...

• Significant underperformance in the DAX following losses in BMW and Bayer
• PM May to ask for a ‘short’ extension to A50, of up to 3 months. However, remainers are looking to derail her plans via an emergency debate
• In FX, Dollar steadies ahead of FOMC, aided by GBP declines
• Looking ahead, highlights include New Zealand GDP, FOMC Rate Decision & Press Conference

ASIA  

Asian equity markets lacked firm direction with the region cautious following a...

• Asian equity markets lacked firm direction with the region cautious following a lacklustre lead from Wall St
• US President Trump said talks with China are "going very well" and reports suggested that US-China talks are in final stages
• Separate reports noted that some US officials see China walking back on some trade offers but suggested this is a normal procedure in trade talks
• UK PM May requested to address the 1922 Committee at 1700GMT, while the PM’s office has indicated the Brexit extension...

• European indices are firmer [Euro Stoxx 50 +0.5%] shrugging off a indecisive lead from Asia
• Sterling respite on ONS data & Brexit updates, while the dollar remains subdued ahead of FOMC
• UK PM May to reportedly request a 9-12 month delay to Brexit, EU leaders are reportedly planning a contingent offer on Brexit extension to be finalised in days before March 29th
• Looking ahead, highlights include, US Durable Goods (Revised) & Factory Orders, New Zealand Current Account, Riksbanks'...

• Asian stock indices traded indecisively amid a lack of key drivers for the region and with participants cautious ahead of the upcoming risk events
• UK PM May is said to request a 9-12 months delay to Brexit, according to The Sun
• In FX markets, USD was subdued, whilst the greenback’s major counterparts struggled for direction
• Looking ahead, highlights include UK Employment Data, German ZEW Survey, US Durable Goods (Revised) & Factory Orders, New Zealand Current Account, ECB's Praet &...

• Mixed start to the week for Major European Indices [Stoxx 600 +0.1%] following a relatively optimistic lead from Asia
• A summit between US President Donald Trump and Chinese counterpart Xi Jinping could be delayed to June according to sources
• Antipodeans outperform as the dollar is generally subdued, GBP choppy ahead of another crucial week for Brexit
• Amidst conflicting reports, Iraqi Energy minister confirms next OPEC+ JMMC in June; although...

• Asian stocks began the week mostly higher after last Friday’s tech-led upside on Wall St, China outperformed
• A summit between US President Donald Trump and Chinese counterpart Xi Jinping could be delayed to June according to sources
• UK PM May received backing by some staunch Brexiteers after she personally lobbied MPs but still remained significantly short of the number she needs to win a vote this week
• In FX markets, price action was...

• Major European indices trade positively as US-China trade optimism continues from Asia.
• UK AG Cox is attempting to win over Brexiteers and DUP with new legal advice; however, Cox’s efforts have been rejected by Brexit supporting lawmakers.
• Dollar underperforms major counterparts, particularly NZD & GBP
• Looking ahead, highlights include US NY Fed Manufacturing, US Manufacturing Output & Industrial Production, and Quadruple Witching

ASIA  

Asian...

• Asian stocks traded mostly positive across the board as US-China trade optimism helped the region shake off the negative lead from the US
• BoJ kept monetary policy settings unchanged with NIRP held at -0.10% and 10yr JGB target at around 0% as expected
• US President Trump said we will have news on China trade deal in the next 3-4 weeks one way or the other
• UK lawmakers voted (412 vs 202) to accept the government's motion to extend the Article 50 process beyond 29th...

14th March 2019

·        Trade deal sentiment rocked after US & China said to delay Trump/Xi meeting until April

·        Major European indices [Euro Stoxx 50 +0.3%] are firmer, but off of bests after Trump/Xi delay

·        Dollar respite as G10 counterparts falter

·        EU Council President Tusk...

• Asian stocks were initially higher across the as the region took early impetus from the US. However, the risk tone was eventually clouded as participants digested Chinese data
• UK Government Brexit motion to rule out a no-deal in any scenario and Brexit Amendment A were both accepted by the HoC last night
• Focus now turns to today’s vote on potentially extending Article 50; Government extension motion proposes an extension until June 30th
• US...

• Major European indices are slightly firmer [Euro Stoxx 50 +0.2%] shrugging off poor performance overnight
• UK has announced temporary cuts to import tariffs and temporary moves to avoid a hard Irish-Northern Irish border in a no-deal Brexit scenario
• Sterling outperforms G10 counterparts, around the 1.3150 level
• Looking ahead, highlights include, US Durable Goods & PPI, Construction Spending, HoC Vote on no-deal, ECB's Coeure, Supply from the US

ASIA

Asian equity markets...

• UK PM May lost the Brexit deal vote by 391 against vs. 242 for (149 vote margin). Lawmakers will now vote on the possibility of accepting a no deal Brexit
• Asian equity markets traded mostly lower following the mixed lead from Wall St and after UK PM May’s Brexit defeat and soft data releases
• In FX, the DXY traded uneventfully overnight with price action stuck at the 97.00 level as EUR/USD flatlined
• Looking ahead, highlights include, EZ Industrial Production, US Durable Goods & PPI, Construction...

• UK PM May secured assurances from the EU regarding the Northern Irish Backstop
• Sterling loses some of its stride ahead of AG Cox’s verdict and the meaningful vote
• European equities are somewhat mixed having waned off opening highs [Euro Stoxx 50 U/C]
• Looking ahead, highlights include US inflation, API crude inventories, UK House of Commons to vote on PM May’s Brexit deal

ASIA

Asian equity...

• Asian equity markets traded mostly higher as the region took impetus from the M&A inspired tech-led rally on Wall St
• UK PM May has secured “legally binding” changes to her Withdrawal Agreement, however, she did not get the power to unilaterally exit the backstop, nor did she get a time limit placed on it
• European Commission President Juncker said that the legal add-on to the Brexit deal stresses the temporary nature of the backstop and he warned if the deal is voted down, there was “no third...

• Major European equity indices are essentially unchanged, while Dow futures underperform due to heavyweight Boeing
• Brexit deadlock continues, recent reports suggest that PM May may change tomorrows vote from meaningful to provisional
• Looking ahead, highlights include US retail sales (Jan), BoE’s Haskel, US supply. Note: US clocks have changed (London-NY gap is now 4 hours)

ASIA

Asian equity markets traded somewhat...

• Asian equity markets traded somewhat indecisive as the region digested Friday’s mixed US jobs data, China outperformed on PBoC pledge to further support the slowing economy
• China reportedly removed the trip to Mar-a-Lago from Chinese President Xi's calendar, US and China are still negotiating over the phone
• Brexit talks between the UK and the EU remain at an impasse, Downing Street has said, talks are to resume today
• UK PM May has reportedly been warned by MPs that the Brexit vote must be put on...

• Monday: Eurogroup meeting
• Tuesday: Brexit Meaningful Vote (TBC), ECOFIN meeting, UK GDP, US CPI
• Wednesday: Eurozone Industrial Production, US PPI
• Thursday: BoJ Rate Decision, US Retail Sales
• Friday: Eurozone CPI (final), NY Fed Mfg, Uni of Michigan (Prelim), US JOLTS (Jan), US Industrial Production

• Chinese trade surplus shrinks, as exports sink to 3 year lows
•  European indices [Euro Stoxx 50 -0.6%] extend losses amidst global growth concerns
• Dxy drifts from YTD peaks awaiting US payrolls
•  Looking ahead, highlights include US & Canadian Jobs Report, ECB's Mersch Speaking

ASIA

Asian equity markets were negative across board on spill-over selling from their global peers after...

• Asian equity markets were negative across board on spill-over selling from their global peers after the ECB's latest policy announcement and disappointing Chinese trade data
• UK PM May will urge the EU to help get her Brexit deal through House of Commons by agreeing to legally binding changes to the backstop
• Sources reported that the ECB is said to doubt 2019 outlook was cut by enough and that President Draghi is said to have pushed for ECB stimulus package
• Looking ahead, highlights include German...

• Major European equities are marginally lower [Euro Stoxx 50 -0.4%] ahead of today’s ECB policy announcement
• EU Brexit negotiators have told UK Attorney General Cox to rework his backstop proposals and return for further talks on Friday
• Huawei has filed a lawsuit against the US for banning equipment from certain networks
• Looking ahead, highlights include ECB Rate Decision & Press Conference, Fed's Brainard, ECB's Praet,
• Earnings: Costco

ASIA

Asian...

• Asian stocks were mostly lower following the negative lead from Wall Street, China wobbled after Huawei filed a lawsuit against the US government
• EU officials are reportedly pessimistic about reaching a Brexit breakthrough. Negotiators suspect that whatever they offer will not be enough to get Parliament to back PM May's Brexit deal
• UK PM May's Cabinet believes her Brexit deal 'will be defeated by 100 votes', Chief Whip Smith recently warned that Parliament will force a soft Brexit if deal is...

• European indices are moving towards unchanged [Euro Stoxx 50 -0.1%] after a somewhat weaker start
• AUD underperforms, weighed on by; GDP miss, banks now expecting two rate cuts and RBA’s Lowe stating it is hard to imagine a rate hike this year
• EU official states that talks did not go well, as EU/UK talks continue, after ending without agreement yesterday
• Looking ahead, highlights include US ADP National Employment & International Trade, Canadian Trade Balance, BoC Rate Decision, BoE's Cunliffe,...