• Asian stocks traded mostly positive after risk appetite was ignited by Fed Chair Powell’s dovish comments which spurred hopes the Fed may begin to slow down on its hiking cycle
• In FX markets, the USD was pressured post-Powell with the DXY back below 97.00 which led EUR/USD and GBP/USD to reclaim the 1.1300 and 1.2800 handles respectively
• EU could give Italy more time before triggering the Excessive Deficit Procedure (EDP); according to La Repubblica
• Looking ahead, highlights...

• European equities (Eurostoxx 50 +0.3%) have held on to opening gains seen in the wake of the upbeat US and Asia-Pac sessions, despite lingering trade concerns.
• EU Commission will begin disciplinary action on Italy regarding its debt before Christmas; but Italy remain optimistic that a deal can be struck with the EC
• Saudi Energy Minister Al Falih said that Saudi cannot and will not reduce output on their own.
• Looking ahead,...

• Asian equity markets traded mostly positive following a similar lead from Wall St. but with the session initially mired by lingering trade uncertainty
• White House Economic Advisor Kudlow said President Trump could hike tariffs if no constructive talks occur at G20, however, Trump remains open to a deal
• UK PM May is said to have backed down regarding attempts to stop lawmakers from making changes to her Brexit plan
• EU Commission...

• US President Trump said he still intends to go ahead with raising tariffs on China imports from 10% to 25% and that it was highly unlikely he would accept China’s request to refrain from the increase.
• Italy's League economic advisor Siri says Italy are considering reducing the budget deficit to 2.2-2.3%
• Senior UK lawmaker Fallon says it may be possible to delay the date the UK leaves the EU to negotiate a better deal.
...

• Asian equity markets were mostly positive as the region took impetus from the performance on Wall St, where all majors finished with firm gains
• US President Trump suggested an intention to proceed with raising tariffs on China imports from 10% to 25% and warned over tariffs on the remaining USD 267bln of Chinese imports if talks fail
• US President Trump said it sounds like the Brexit deal is a good deal for the EU and that the UK may not be able to trade with...

• European equities started the week on the front foot (Eurostoxx 50 +1.1%) following the upbeat performance experienced over in Asia
• The Italian government are discussing reducing the 2019 deficit target to 2.0-2.1% from 2.4%; according to a government source
• The European Council released its statement that endorsed UK PM May’s Brexit deal, as expected
• Looking ahead, highlights include ECB’s Coeure, BoE Governor Carney...

• Asian equities and US index futures began the week mostly positive as stock markets picked themselves up from the Thanksgiving holiday lull
• The European Council released its statement that endorsed UK PM May’s Brexit deal, as expected
• EU officials were quick to warn that there is no plan B on offer for the UK and that voters are mistaken if they think that voting ‘no’ to the deal will get them a better offer
...

• EUR suffers post-poor flash EZ PMI’s as slowing global growth hurts European exports
• Crude continues its collapse in thin trade and set for 7th consecutive weekly fall
• Gibraltar remains a key issue ahead of Sunday’s Brexit summit
• Looking ahead, highlights include Canadian CPI, ECB’s de Guindos. US markets early close

• Asian stocks traded mostly lower with sentiment in the region subdued by trade concerns and holiday-thinned conditions
• Tory Brexiteer Iain Duncan Smith stated that the Brexit deal will be killed off by him and his Brexiteer colleagues in Parliament
• In FX markets, the major pairs traded sideways with price volatility virtually non-existent due to the holiday closures and lack of data releases
• Looking ahead, highlights include...

• Asian equities were mixed as the region struggled to sustain the rebound seen on Wall St, where a recovery in the energy and tech sectors underpinned most major US indices
• UK PM May's spokesperson said PM May and EU's Juncker failed to finalise a deal on terms of Brexit but added that very good progress has been made in talks
• FX markets were uneventful with the USD subdued as US participants headed into the Thanksgiving holiday
...

• European equities are higher across the board (Eurostoxx 50 +0.8%) as the region stemmed the stock rout seen in Asia and Wall Street
• European commission has rejected the Italian budget, with the opening of EDP said to be warranted
• Looking ahead, highlights include US Durable Goods, Weekly Jobs, Existing Home Sales, Uni. of Michigan, DoEs, Japanese CPI, BoE’s Carney, UK PM May to meet with EC’s...

• Asian stocks mostly weakened as the global stock rout continued into the region following the losses in US
• US Trade Representative Lighthizer released a report regarding China intellectual property and tech transfers which stated that China has not altered its unfair practices
• UK PM May will discuss the text in Brussels today and will push for parts of her Chequers plan to be recognisable in the document, according to the BBC
• Looking ahead, highlights include US Durable Goods, Weekly...

• FAANG stocks down 1.3-2.0% premarket, while EU technology sector hits yearly lows
• DXY and broad Dollar saved from steeper declines as jitters over Brexit alongside the Italian budget are in focus
• Looking ahead, highlights include US building permits & housing starts, BoC’s Wilkins & Lane and weekly API crude inventory data

• Asian stock markets were lower across the board as the risk averse tone rolled over from Wall St, where the tech sector led the sell-off
• Brexiteers reportedly still lack the sufficient number of signatures required to trigger a no-confidence vote against UK PM May
• UK PM May is reportedly drawing up secret plans to drop the Irish border backstop and win support from angry Brexiteers
• Looking ahead, highlights include US building permits & housing starts, BoE’s Carney, Haldane,...

• APEC summit ended without an agreement on a joint communique for the first time in its history after China refused to sign amid US-China tensions
• Apple have reportedly cut production orders for their 3 new iPhone models and are down 1.9% pre-market
• DXY remains capped below a key Fib level (96.590) and the Dollar overall is mixed vs major counterparts
• Looking ahead, highlights include potential comments from Fed’s Williams....

• Asian equity markets began the week somewhat cautious on lingering trade concerns and after disunity at the APEC summit
• UK PM May stated over the weekend that there has not yet been enough number of letters required to trigger a no-confidence vote
• ERG sources are said to be confident of reaching the 48 letters required on Monday to trigger a no-confidence vote against UK PM May
• Looking ahead, highlights include potential comments from Fed’s Williams, UK PM May to speak at the CBI...

16th November 2018

• US-Chinese trade relations in focus again after conflicting reports suggesting the next round of Chinese tariffs are being placed on hold, which USTR Lighthizer later denied
• UK PM May said she will see this through and fight leadership challenge. UK PM May is yet to appoint a new Brexit Minister
• Looking ahead, highlights include EZ CPI, US Industrial Production, ECB’s Draghi, Weidmann and Lane, Fed’s Evans

• Sterling pounded amidst multiple cabinet resignations
• Gilts hit contract high, ahead of possible no-confidence vote as UK PM in Dis-May
• Looking ahead, highlights include US retail sales, US weekly jobs, NY Fed mfg, Philly Fed, DoEs, ECB’s Coeure, Praet and de Guindos, Fed’s Quarles, Powell and Bostic, earnings from Walmart

• Asian equity markets were eventually mostly higher after the region gradually shrugged off the cautious lead from the losses stateside
• UK PM May confirmed she has cabinet backing for her Brexit deal and stands ready to present the deal and a statement to Parliament
• There were reports that a PM May no confidence vote would be submitted today. However, questions remain over whether or not rebels would have enough votes to be successful
• Looking ahead, highlights include UK and US retail...

• Cable wings clipped by customs concerns ahead of 14:00GMT Cabinet meeting
• Source reports of a possible 1.4mln BPD oil supply cut by OPEC fails to stop the rot
• Looking ahead, highlights include, UK Brexit Cabinet meeting, US CPI, Fed’s Quarles, Powell, Supply from Germany and UK cabinet to meet to discuss Brexit deal

• Asian equities traded lacklustre following a similar performance on Wall St where the energy sector was hit by a further aggressive slide in oil prices
• All eyes are now on events at 10 Downing Street as UK PM May’s cabinet meets to discuss her Brexit deal
• Tensions between Italy and the European Commission remain after the nation left growth and deficit targets unchanged in its budget draft
• Looking ahead, highlights include German and Eurozone flash GDP, Swedish, UK and US CPI,...

• Brexit "endgame" talk lifts Cable to a 1.29 handle as a deal hangs in the balance; Italian assets underperform ahead of budget re-submission deadline
• Positive US-China trade rumblings lifting equities but oil extending losses as Presidential jawboning fails
• Looking ahead, highlights include Italian Budget Resubmission Deadline, ECB’s Stournaras, de Guindos, Fed’s Brainard, Harker, Daly

• Major Asian equity markets mostly followed suit to the sell-off on Wall St where tech led the declines
• UK PM May said Brexit talks are now reaching their "endgame" and that both sides are working hard to reach an agreement but added that significant issues still remain
• Senior ministers led by UK Brexit Secretary Raab told UK PM May no deal is preferable to the current offer from the EU, according to Buzzfeed
• Looking ahead, highlights include German CPI (F), UK jobs report,...

• European equities are mixed after having initially opening higher across the board, DAX underperforms while FTSE 100 is buoyed by a weaker GBP
• DXY has extended recovery gains beyond 97.000 and through its previous ytd peak to top out just shy of 97.600
• Looking ahead, the calendar includes a lack of tier 1 data, ECB’s Lautenschlaeger, Fed’s Daly. US Veteran’s Day – no market closures