• European Indices [Euro Stoxx 50 -0.3%] are somewhat subdued following the lacklusture Asia-Pac handover
• Iran Foreign Ministry spokesman Mousavi states that the US sanctions mean the permanent closure of the diplomatic channel
• AbbVie (ABBV) is looking to buy Allergan (AGN) for in excess of USD 60bln in a cash and stock deal
• Looking ahead, highlights include US Richmond Fed, ECB’s Coeure, Fed’s Williams, Bostic, Powell, Barkin, Bullard, supply from the US, earnings from FedEx and...

• Asian indices are subdued following on from the US’ imposition of sanctions on Iran
• DXY continued its recent downtrend and slipped below 96.00, leading USD/JPY beneath 107.00
• US placed strong sanctions on Iran, including the Supreme Leader; Iran’s Foreign Ministry Spokesman states that the sanctions mean the diplomatic channel is closed forever
• US Official states that the Trump-Xi meeting is likely the 2nd day of G20, but this is yet to be...

• A choppy start to a potentially pivotally week for global trade [Euro Stoxx 50 -0.4%], with Trump & Xi due to meet at the G20 summit
• US President Trump has stated that they will move ahead with additional sanctions on Iran; Iran’s Navy Commander said the downing of a US Spy drone was a ‘firm response’ and can be repeated
• In FX, the USD remains subdued with Antipodeans leading G10 gains; while the TRY has rebounded post Istanbul election re-run
• Looking ahead, highlights include NZ Trade, ECB’s...

• SUN: Istabul Election re-run
• MON: German Ifo Survey
• TUE: RBNZ Monetary Policy meeting, Hungarian Central Bank Monetary Policy meeting, US Consumer Confidence, New Home Sales, Meeting minutes
• WED: US Durable Goods
• THU: Banxico Monetary Policy meeting, US GDP Final, Core PCE (Final), EZ Sentiment
• FRI: G20, Japanese CPI and Unemployment, UK GDP, US Consumption and Uni. Of...

• Asian equities began the week somewhat choppy with participants tentative ahead of the Trump-Xi G20 meeting
• Conservative Party is reportedly making plans that would permit the next PM to hold off from putting their Brexit plans to Parliament until Autumn
• US President Trump said he has no pre-conditions for talks with Iran. However, the US will be moving ahead with sanctions on the nation
• Turkish opposition candidate Imamoglu beat former PM...

• European stocks gave up earlier gains on quadruple witching day, sectors are mostly in the red
• Dollar trades within a tight range above 95.50, EUR is supported by encouraging EZ PMIs
• US President Trump reportedly pulled back from launching attacks on Iran hours after approving strikes on a handful of targets
• Looking ahead, highlights include US PMIs, Canadian retail sales, Baker Hughes, Fed’s Mester, Daly, BoE’s Tenreyro and Carney,...

• Asian equity markets traded mostly lacklustre as the FOMC-fuelled momentum began to wane in the region despite the strong lead from Wall St
• Boris Johnson maintained the lead after the 5th round of the Tory leadership ballot with Jeremy Hunt making it to the final two after Michael Gove was eliminated
• US President Trump reportedly pulled back from launching attacks on Iran hours after approving strikes on a handful of targets
• Looking ahead,...

• European equities higher across the board as investors cheer the Fed
• DXY lower, NOK bolstered by hawkish Norges hike
• Looking ahead, highlights include BoE rate decision US weekly jobs, Philly Fed, BoE’s Carney

ASIA-PAC

Asian equity markets traded mostly positive as the region digested the dovish FOMC. ASX 200 (+0.6%) was led higher by gold names after the precious metal surged...

• FOMC stood pat on rates, dot plot showed median forecast is for no change in rates in 2019 although nearly half expected lower rates
• Fed stated it will closely monitor developments and removed its pledge to be “patient”.
• BoJ kept monetary policy settings unchanged as expected
• Boris Johnson maintained the lead in the third Conservative leadership vote, Rory Stewart eliminated
• Looking ahead, highlights include BoE and...

• Asian equity markets rallied across the board as the region followed suit from the heightened global risk appetite
• Former UK Foreign Minister Boris Johnson remained in the lead after the second round of the Conservative leadership vote
• DXY was steady and remained near this month’s highs after the recent Draghi-induced selling in EUR/USD
• US President Trump replied "let's see what he does" when asked whether he wants to demote Fed Chair...

• ECB President Draghi said additional stimulus will be required if inflation aim is threatened, APP still has considerable headroom
• Stocks surge as Draghi strikes a dovish tone, albeit Financials underperform amid the prolongation of negative rates
• EUR slumped to the bottom of the G10 pile amid dovish Draghi comments, DXY is firmer above 97.50
• Looking ahead, highlights include US Building Permits, Housing Starts, APIs, Tory Leadership Vote,...

• Asian equity markets mostly saw cautious gains ahead of this week’s key risk events and following the marginal gains in the US
• Boris Johnson allies reportedly plan to rig the leadership contest by ‘lending’ votes to Jeremy Hunt
• DXY continued on from the prior day’s swings and slipped back below 97.50 amid tentativeness heading into the key central bank meetings
• Looking ahead, highlights include German ZEW, EZ CPI, US Building Permits,...

• MON: US hearing on further China tariffs.
• TUE: RBA Minutes, German ZEW Sentiment, EZ CPI (Final), US Housing Starts.
• WED: FOMC Monetary Policy meeting, CBRT Summary of the MPC meeting, BCB Monetary Policy meeting, Japan Trade Balance, UK & Canada CPI.
• THU: BOE, BOJ, Norges Bank, Bank of Indonesia, UK Retail Sales, US Philly Fed.
• FRI: EU Summit (EU top jobs decisions to be made), Quadruple Witching, Japanese CPI,...

• Major European stocks are flat/mixed in a continuation of the cautious tone seen in Asia
• Most major FX pairs remain rangebound ahead of an action-packed week
• Looking ahead highlights include, US NY Fed Manufacturing and ECB’s Draghi

ASIA-PAC

Asian equity markets began mixed with the region cautious ahead of the upcoming slate of central bank activity and after last Friday’s losses on Wall St,...

• Asian equity markets began mixed with the region cautious ahead of the upcoming slate of key risk events
• Price action in FX was relatively quiet amid a lack of tier 1 data releases, DXY slightly pulled back from Friday’s data-driven gains
• Former UK Foreign Minister Boris Johnson’s plans to withhold Brexit bill payments could be thwarted by Attorney General Cox’s legal advice
• Looking ahead, highlights include US NY Fed Manufacturing, ECB’s de...

• European indices are predominantly lower [Euro Stoxx 50 -0.4%] as the risk-off theme prevails
• The US have reportedly asked the WTO to pause the investigation into China IP until December, and India are reportedly preparing higher tariffs on 20 US goods
• Looking ahead highlights include, US Retail Sales, Industrial Production, Business Inventories, University of Michigan Sentiment, BoE’s Carney

ASIA-PAC

Asia equity markets traded mixed as they awaited...

• Asian indices are mixed, pulled between the positive Wall St. lead and impending Chinese data at 08:00BST
• US Secretary of State Pompeo formally blamed Iran for the Oman tanker attacks
• NEC Director Kudlow states that China has broken WTO terms on trade, as such US President Trump is taking action
• Looking ahead highlights include, Chinese Industrial Output & Retail Sales, EZ CPI (Final), US Retail Sales, Industrial Production, Business...

• European equities are firmer [Euro Stoxx 50 +0.2%], deviating from their Asia-Pac counterparts
• WTI & Brent are significantly firmer amidst reports that two oil tankers in the Gulf of Oman have been attacked
• In FX, the USD remains relatively stead while safe havens are buoyed by ongoing geopolitical tensions
• Looking ahead highlights include, US Import, Export Prices & Jobless Claims, New Zealand Manufacturing PMI. Supply from the...

• Asia-Pac stocks remain lower as the risk-off sentiment spills over from the US; amidst negative Chinese rhetoric on a US trade deal
• US President Trump remains optimistic on achieving a deal with China, but added that tariffs on the rest of Chinese imports will be imposed if no deal can be achieved; has no deadline for these tariffs
• USD remains firm to the detriment of G10 counterparts, with Cable pressured after the Labour party’s parliament control bill was...

• No major fundamental EU session updates leave European Indices [Euro Stoxx 50 -0.5%] subdued and largely in-line with their Asia-Pac counterparts.
• In FX, the USD is lacklustre ahead of US CPI; with G10 counterparts failing to significantly capitalise on this amidst the downbeat tone
• Looking ahead highlights include, US CPI, ECB’s Coeure. Supply from the US

ASIA-PAC

Asian equity markets traded mostly subdued after the flat lead from Wall St where the...

• Asian indices are mixed, following on from Wall St. finishing flat, breaking its week-long win streak
• In FX, the USD is little changed ahead of US CPI; with main G10 counterparts relatively steady as well
• US President Trump says he is the one holding up the US-China trade deal, and that he expects to meet President Xi at the G20 summit
• Looking ahead highlights include, US CPI, ECB’s Draghi, de Guindos & Coeure. Supply from Germany &...

• European indices are firmer this morning [Euro Stoxx 50 +0.9%], taking the lead from a positive Asia-Pac session.
• In FX, Sterling is outperforming G10 counterparts on the combination of both strong UK labour data and hawkish BoE speak
• Looking ahead highlights include, US PPI. Supply from the US

ASIA-PAC

Asian equity markets were higher across the board after a similar lead from US where sentiment was underpinned by the US-Mexico tariff relief which lifted the...

• Asian indices are higher as sentiment remains supported on US-Mexico tariff relief
• BoE’s Saunders says the BoE will likely need to return to a neutral stance sooner than expected and rates do not necessarily need to be on hold until Brexit uncertainty fades
• Looking ahead highlights include, UK Employment Data, US NFIB & PPI, ECB’s Nowotny & Rehn, BoE’s Vlieghe, Saunders, Broadbent & Tenreyro. Supply from the...

• European Indices  [Euro Stoxx 600 +0.2%] are firmer as risk sentiment remains positive after the US agreed to advert tariffs on Mexico
• In FX, the USD outperforms its G10 counterparts with antipodeans lagging on mixed China trade, while GBP declines with UK GDP
• Looking ahead highlights include; Canadian Housing Starts & Building Permits, US Jolts, BoE’s Saunders

ASIA-PAC

Asian equity markets began the week higher with sentiment underpinned...

• WEEKEND: G20 finmin/cbank heads meet.
• MON: US to impose tariffs on Mexico; UK Tory leadership campaign starts; Japan GDP; UK GDP, Manufacturing; Canada housing.
• TUE: EIA STEO, UK jobs report
• WED: China CPI, US CPI, CBRT.
• THU: OPEC MOMR.
• FRI: IEA oil report, CBR.

G20 FINMIN/CBANKS HEAD MEETING (WEEKEND):

Ahead of the leaders’ summit on 28-29 June, G20 finance ministers and central bank officials will meet on the weekend at Fukuoka in...