Monday: US Existing Home Sales

Tuesday: EZ & US Manufacturing & Services PMIs (Flash)

Wednesday: AU CPI, GE IFO Survey, US New Home Sales, EU’s Juncker visits the US

Thursday: ECB Decision, US Durable Goods

Friday:  Tokyo CPI, US GDP (Prelim reading)

• US equity futures were hit overnight after the PBoC set their reference rate for the CNY at its weakest level in over a year
• European equities have been dealt a blow in recent trade by comments from Trump that the US is ready to impose tariffs on all USD 505bln of Chinese import goods
• DAX dealt a further blow by comments from Germany's Chancellor Merkel that if need be, the EU is working on counter-measures but this is by far the worst solution
• Looking ahead, highlights include...

• Asian equity markets traded choppy with sentiment spooked overnight amid a China currency sell-off after the PBoC set the reference rate to its weakest level in over a year
• US President Trump said he is not happy about interest rates rising and that a strong USD puts the US at a disadvantage
• Looking ahead, highlights include Canadian CPI & retail sales, Baker Hughes, Fed’s Bullard, BoE’s Tenreyro and ECB’s Coeure

ASIA

Asian equity...

• European equities trade mostly on the backfoot as earning season kicks into gear
• Cable slumped through 1.3000 on another UK data miss before stabilising near the round number
• Looking ahead, highlights include Philly Fed, SARB rate decision, Fed’s Quarles, ECB’s Coeure, UK Brexit Secretary Raab meets with EU’s Barnier

ASIA-PAC

Asian bourses were mixed as trade concerns and a weakening CNH clouded over the mostly positive lead from Wall St...

• Asian bourses were mixed as trade concerns and a weakening CNH clouded over the mostly positive lead from Wall St.
• EU negotiators are reportedly considering extending Article 50 as fears mount that talks will not conclude in time for both the UK and EU to meet the 29 March 2019 deadline
• Looking ahead, highlights include, UK retail sales, Philly Fed, SARB rate decision, Fed’s Quarles, ECB’s Coeure, UK Brexit Secretary Raab meets with EU’s Barnier and supply from Spain, France and...

• European bourses mostly higher with tech names outperforming their peers following yesterday’s Nasdaq gains
• GBP/USD hits 10-month lows, now eyeing 1.30 to the downside as UK inflation figures fall short of expectations
• Looking ahead, highlights include, UK and EZ CPI, US building permits, housing starts, DoEs and Fed’s Powell

ASIA

Asian equity markets traded with a positive tone as momentum rolled over from US where all majors gained and the...

• European equities trade mostly negative (Eurostoxx 50 -0.5%, DAX -0.2%)
• GBP resilient in wake of another Government semi U-turn on post-Brexit proposals
• Looking ahead, highlights include, US industrial production, APIs Inventories, Fed’s Powell

ASIA 
Asian equity markets traded mostly lower after a lacklustre lead from the US where energy underperformed amid a slump in crude and Nasdaq futures took a hit after-market on disappointing earnings and...

• Asian equity markets traded mostly lower after a lacklustre lead from the US amid underperformance in energy names and Netflix earnings weighing on Nasdaq futures
• The UK government has managed to avoid defeat on its Customs Bill after caving into the demands of Brexiteer MPs
• Looking ahead, highlights include, UK labour market report, US industrial production, APIs, BoE’s Carney, Fed’s Powell and supply from Germany

ASIA

Asian equity markets...

• Chinese GDP topped estimates on a Q/Q basis at 1.8% vs. Exp. 1.6%, but GDP Y/Y slowed in-line with forecasts to 6.7% vs. Prev. 6.8%
• European equities (Eurostoxx 50 +0.1%) trade with little in the way of firm direction. Deutsche Bank prelim results lift financials
• Looking ahead, highlights include, US retail sales, NY Fed mfg, US President Trump meets with Russian President Putin

ASIA

Asian stocks began the week subdued with the region lacklustre amid the...

• Asian stocks began the week subdued. Chinese GDP beat on a Q/Q basis, in-line Y/Y, retail sales a beat, industrial production a miss
• UK Eurosceptics have set up a “party within a party” with a highly organised whipping operation among Tory Eurosceptic MPs. Justine Greening calls for a second referendum
• Looking ahead, highlights include, US retail sales, NY Fed mfg, US President Trump meets with Russian President Putin

ASIA

Asian stocks began...

Key Events

Monday: Chinese GDP, Trump/Putin Summit, US Retail Sales

Tuesday: NZ CPI, RBA Minutes, UK Labour Market, US Industrial Production, US TIC Flows, Fed Chair Powell’s Semi-Annual Testimony

Wednesday: UK CPI, EZ CPI (Final), US Housing Starts & Building Permits

Thursday: Australian Labour Market, UK Retail Sales

Friday: Japanese CPI, Canadian...

• US President Trump denounces Chequers deal and said a soft Brexit would probably kill a potential future trade deal between UK and US
• Sterling slipping, Dxy rising above 95.000 and equities up approaching week-end
• Looking ahead, highlights include, Uni. of Michigan Sentiment, Baker Hughes, BoE’s Cunliffe, Fed’s Bostic, earnings from Wells Fargo, and Citi

ASIA

Asian equity markets were mostly higher as the region took impetus from the upside in...

• Asian equity markets were mostly higher as the region took impetus from the upside in Wall St
• US President Trump has warned UK PM May that a soft Brexit would probably kill a potential future trade deal between UK and US
• Looking ahead, highlights include Uni. of Michigan Sentiment, Baker Hughes, BoE’s Cunliffe, Fed’s Bostic, earnings from Wells Fargo, JP Morgan and Citi

ASIA

Asian equity markets were mostly higher as the region took impetus...

• Mixed reports that US President Trump is to exit NATO after the Chinese Commerce Ministry rubbished suggestions that there had been contact with the US on trade
• Choppy trade in equities while commodities find some relief after sharp losses in Wednesday’s trade
• Looking ahead, highlights include, ECB minutes, US CPI, weekly jobs figures, supply from the US

ASIA

Asian equity markets shrugged off the energy-led declines in US and traded higher across the board with...

• Asian equity markets shrugged off the energy-led declines in US and traded higher across the board
• FX markets were flat overnight amid a lack of tier-1 data releases, which kept the DXY at the prior session’s highs
• Looking ahead, highlights include Riksbank and ECB minutes, US CPI, weekly jobs figures, supply from Italy and the US

ASIA

Asian equity markets shrugged off the energy-led declines in US and traded higher across the board with short...

• US begins the process for installing 10% tariffs on USD 200bln of Chinese imports
• European equities hit and investors ditch high-beta currencies as risk-off tone returns
• Looking ahead, highlights include, US PPI, DoEs, BoC rate decision, supply from Germany and the US, ECB’s Mersch, BoE’s Carney, BoC’s Poloz and Fed’s Williams

TRADE

US Trade Representative Lighthizer announced US will impose tariffs of 10% on additional USD 200bln...

• US Trade Representative Lighthizer announced US will impose tariffs of 10% on additional USD 200bln of goods from China
• Asian stocks slumped across the board. The risk averse tone spurred flows into safe-haven JPY which briefly dragged USD/JPY below the 111.00 handle
• Looking ahead, highlights include US PPI, DoEs, BoC rate decision, supply from Germany and the US, ECB’s Draghi, Villeroy, Praet, Mersch, BoE’s Carney, BoC’s Poloz and Fed’s...

• Surprise UK Industrial Output miss reverses GBP early rise, German ZEW conditions miss hits EUR
• European equities largely higher following in step with Asia in a news-thin morning
• Looking ahead, highlights include, APIs and ECB’s Lautenschlaeger

ASIA

Asian equity markets traded mostly higher on the momentum from Wall St where the DJIA notched its best performance in a month, and financials outperformed on optimism heading into...

• Asian equity markets traded mostly higher on the momentum from Wall St where the DJIA notched its best performance in a month
• The head of the Conservative 1922 Committee indicated that he did not receive the 48 letters required for a leadership challenge
• Looking ahead, highlights include Norwegian CPI, UK monthly GDP, output, trade, German ZEW, APIs, ECB’s Lautenchlaeger

ASIA

Asian equity markets traded mostly higher on the momentum from Wall St...

• UK agrees on white paper proposal with Dominic Raab announced as new UK Brexit Secretary; David Davis resigns
• European Equities in the green but FTSE underperforms on a stronger GBP
• Looking ahead, highlights include, ECB’s Praet, Draghi and Fed’s Kashkari

ASIA

Asian stocks began the week higher across the board as the region followed suit to Wall St’s performance on Friday after a Goldilocks US jobs report. The broad appetite for risk...

• Asian stocks began the week higher across the board as the region followed suit to Wall St’s performance on Friday
• UK Brexit Secretary Davis resigned, stating that PM May’s policy is now more likely to break the manifesto pledge and leaves the UK in a weak negotiating position
• Looking ahead, highlights include German trade, ECB’s Praet, Draghi and Fed’s Kashkari

ASIA

Asian stocks began the week higher across the board as the region...

Monday: German Trade Balance

Tuesday: German ZEW Survey, UK Industrial Production, UK GDP (Monthly)

Wednesday: BoC Interest Rate Decision & MPR, US PPI

Thursday: US CPI, German CPI (Final), ECB Minutes

Friday: Chinese Trade Balance, JPM, Wells Fargo and Citi report earnings

• Limited reaction seen across asset classes as China/US tariffs are imposed ahead of NFP
• Reports of JP Morgan taking a stake in Deutsche Bank refuted
• Looking ahead, highlights include US NFP, US trade, Canadian jobs, Baker Hughes

ASIA

Asian stocks traded higher after the positive momentum from Wall St’s best performance in over a month followed through to Asia. ASX 200 (+0.9%) and Nikkei 225 (+1.1%) were positive as both indices took impetus from...

• FOMC Minutes noted concern on trade policy risks but didn’t suggest anything that would likely swerve the Fed from its hiking path
• UK PM May is to unveil plans that involve UK agreeing to a formal treaty with EU post-Brexit that will tie the UK to Brussels rules on goods
• Looking ahead, highlights include US NFP, US trade, Canadian jobs, Baker Hughes

FOMC MINUTES

Most Fed policymakers said trade policy risks has intensified and were concerning, while...

• European equities positive as auto names drive gains, on suggestions that US is ready to give car tariffs a break
• UK markets react to an upbeat Carney after the BoE chief suggests Q1 softness was largely due to weather
• Looking ahead, highlights include, US ADP, ISM non-MFG, DOEs, FOMC minutes, and ECB’s Weidmann and Mersch

ASIA

Asian equity markets were cautious from the open ahead of this week’s key risk events and following the US holiday...