17 Sep 2024, 06:58 by Newsquawk Desk
- APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays.
- Money markets now price in a 67% probability of a 50bps Fed rate cut on Wednesday vs the 48% probability seen on Friday, via Reuters.
- US and Japan are nearing a deal to curb chip technology exports to China, according to...
16 Sep 2024, 11:25 by Newsquawk Desk
- European equities are mixed/flat, US equity futures edge slightly higher, though the RTY +0.8% outperforms
- Dollar continues to edge lower as markets weigh up the magnitude of the looming Fed cut, G10s gain vs the Dollar, USD/JPY slips below 140
- After last week's late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
- Bonds are incrementally firmer but with trade rangebound awaiting speak from ECB’s...
16 Sep 2024, 06:40 by Newsquawk Desk
- APAC stocks were mixed amid the holiday-thinned conditions and as participants braced for this week's central bank announcements including from the FOMC, BoE and BoJ.
- Chinese house prices further deteriorated, while the latest Chinese Industrial Production and Retail Sales also disappointed.
- After last week's late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
- European equity futures are indicative...
13 Sep 2024, 13:22 by Newsquawk Desk
- SAT: China Activity Data (Aug)
- MON: N/A
- TUE: EZ/German ZEW (Sep), US Retail Sales (Aug), Canadian CPI (Aug), US Industrial Production & Manufacturing Output (Aug), Business Inventories (Jul), NAHB Housing Index (Sep)
- WED: FOMC & BCB Policy Announcements; Japanese Trade Balance (Aug), UK CPI (Aug), Swedish Unemployment (Aug), South African CPI (Aug), EZ HICP Final (Aug), US Building Permits/Housing Starts (Aug), New Zealand...
13 Sep 2024, 11:27 by Newsquawk Desk
- European bourses are generally firmer; US equity futures remain steady and hold on to the prior day’s gains.
- Dollar is slightly lower amid a dovish repricing of Fed rate cut bets, and JPY outperforms as USD/JPY slips to a 140 handle.
- Bonds are generally firmer; Bunds trade around the 135.00 mark.
- Crude oil continues to edge higher given the risk tone, XAU is modestly firmer and base metals are mixed.
- Looking ahead,...
13 Sep 2024, 07:05 by Newsquawk Desk
- APAC stocks were ultimately mixed and initially took their cues from the gains in the US, but with upside capped by a lack of fresh drivers ahead of a long weekend.
- ECB officials have not ruled out a rate cut at the October meeting, according to Bloomberg sources, while Reuters sources suggested an ECB October rate cut is said to be unlikely for now and a move before December would take exceptional negative growth surprises.
- US and UK governments are discussing...
12 Sep 2024, 11:29 by Newsquawk Desk
- European bourses are entirely in the green with the region taking impetus from the prior day’s strength seen on Wall Street; US futures are modestly firmer.
- Dollar is flat ahead of US PPI/IJC, JPY & CHF are subdued amid their haven statuses in risk-on trade.
- Bonds are modestly lower giving back some the prior day’s advances ahead of ECB.
- Crude oil and base metals are on a firmer footing benefiting from the risk-on mood, precious metals...
12 Sep 2024, 06:39 by Newsquawk Desk
- APAC stocks gained as the region took impetus from the post-CPI tech-led rebound stateside.
- DXY traded little changed, JPY saw brief support from hawkish comments from BoJ’s Tamura; EUR awaits the ECB.
- Goldman Sachs CEO Solomon said he sees 2 or maybe 3 Fed rate cuts, while he added that they could see the possibility of a 50bps cut but his base case is for a cut of 25bps, according to a CNBC interview.
- European equity futures are indicative...
11 Sep 2024, 11:17 by Newsquawk Desk
- European bourses are mixed having initially opened with a clear positive bias; US equity futures are entirely in the red ahead of CPI.
- Dollar is softer as markets digest the Presidential Debate; CNN opinion polls suggest that 63% of voters thought candidate Harris won the debate; gains in JPY overnight also weighed on the index
- Bonds are entirely in the green continuing the price action seen in the prior session; Gilts outperform after softer-than-expected UK GDP...
11 Sep 2024, 06:33 by Newsquawk Desk
- APAC stocks traded cautiously after the two-way price action stateside and as participants await US CPI data.
- BoJ's Nakagawa said that the central bank is likely to adjust the degree of monetary easing if the economy and prices move in line with its projection.
- European equity futures are indicative of a subdued open with the Euro Stoxx 50 future -0.2% after the cash market closed lower by 0.7% on Tuesday.
- USD is broadly softer vs. peers,...
10 Sep 2024, 11:25 by Newsquawk Desk
- European equities are mixed, with initial early-morning strength trimmed; US equity futures are modestly in the red with slight underperformance in the NQ following an Apple tax order.
- Apple (AAPL) has lost the fight against the EUR 13bln EU tax order to Ireland, according to Reuters; Apple said EU regulators are trying retroactively to change the rules; AAPL -1.2% in the pre-market.
- DXY is flat, GBP gains post-jobs data which were mixed; Bloomberg reported that the...
10 Sep 2024, 06:53 by Newsquawk Desk
- APAC stocks mostly took impetus from the gains on Wall St where the major indices rebounded (S&P 500 +1.2%)
- Chinese trade data in USD terms was mixed; larger surplus than expected, exports beat, imports missed
- European equity futures are indicative of a flat open with the Euro Stoxx 50 future unchanged after the cash market gained 0.9% on Monday
- DXY is steady above the 101.50 mark, the USD's major counterparts have been unable...
09 Sep 2024, 10:55 by Newsquawk Desk
- European equities are entirely in the green, attempting to pare back some of last week's hefty losses; Tech leads whilst Luxury lags
- Dollar is firmer while JPY lags after GDP revisions and risk appetite, with USD/JPY back above 143
- Bonds are entirely in the red and reside near session lows.
- Crude is on the front foot, precious metals are mixed, and base metals are higher across the board despite softer Chinese...
09 Sep 2024, 06:45 by Newsquawk Desk
- APAC stocks suffered firm losses as the region took its opportunity to react to last Friday's disappointing US jobs data.
- Chinese data saw softer-than-expected CPI metrics and sharper PPI deflation.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 1.6% on Friday.
- DXY is in positive territory with USD strongest vs. JPY and CHF across the majors,...
06 Sep 2024, 16:28 by Newsquawk Desk
- MON: Apple iPhone Event; Japanese GDP Revised (Q2),Chinese CPI (Aug), EZ Sentix Index (Sep), US Employment Trends (Aug)
- TUE: EIA STEO, OPEC MOMR; Australian Business Confidence (Aug), German Final CPI (Aug),UK Unemployment/Wages (Jul), Swedish GDP (Jul), Norwegian CPI (Aug), US NFIB (Aug), Chinese Trade Balance, M2 & New Yuan Loans (Aug)
- WED: UK GDP Estimate (Jul), US CPI (Aug)
- THU: ECB Policy Announcement, Norges Bank Regional...
06 Sep 2024, 10:53 by Newsquawk Desk
- Equities are lower across the board and now hold at lows ahead of the US NFP report
- Dollar is flat, JPY continues to advance amid the broader risk tone
- Bonds are bid, USTs less-so as attention remains firmly on US unemployment data
- Crude is flat in what has been a choppy session thus far, XAU is also little changed whilst base metals are mixed
- Looking ahead, US NFP, Canadian Employment; Fed’s Williams,...
06 Sep 2024, 06:41 by Newsquawk Desk
- APAC stocks traded without a firm direction following a similar lead from Wall Street ahead of NFP; Hong Kong had Friday trade scrapped amid a typhoon signal.
- G10 currencies were largely flat but the JPY gradually edged higher in APAC trade while Antipodeans held a mild downward bias.
- European equity futures are indicative of a steady cash open with the Euro Stoxx 50 future -0.1% after cash closed -0.7% on Thursday.
- US Secretary of...
05 Sep 2024, 11:33 by Newsquawk Desk
- European equities are mixed; US futures trade tentatively on either side of the unchanged mark
- Dollar is slightly lower, JPY once again on a firmer footing, EUR saw modest strength on strong German Industrial Orders
- USTs are flat ahead of today’s US data deluge, Bunds edge lower
- Crude is firmer, XAU benefits from the softer Dollar and base metals are mixed
- Looking ahead, US Challenger Layoffs, ADP National...
05 Sep 2024, 06:45 by Newsquawk Desk
- APAC stocks eventually traded mixed following the earlier mild regional gains, with the overall market tone tentative ahead of a slew of US data ahead of NFP on Friday.
- USD/JPY initially fell amid higher-than-expected Labour Cash Earnings; Yuan strengthened on the PBOC fixing; G10s were largely uneventful.
- 10-year UST futures held an upward bias in continuation of Wednesday's Wall Street session, after the bull steepening seen following the dovish July JOLTS...
04 Sep 2024, 11:20 by Newsquawk Desk
- Equities are entirely in the red, continuing the risk-off sentiment seen in the prior session
- Dollar is flat ahead of US JOLTS Job Openings, haven currencies benefit from risk tone
- Bonds are incrementally firmer, taking impetus from the subdued risk sentiment; EZ/UK PMIs had little impact on the complex
- Crude slumped in early European trade, but has since bounced on China support measures, XAU and base metals...
04 Sep 2024, 06:56 by Newsquawk Desk
- US stocks slumped on return from the Labor Day weekend with the Nasdaq underperforming amid a pronounced weakness in the tech sector.
- The Tech losses were led by downside in chips, with AI-darling NVIDIA (NVDA) falling 9.5% in the first trading session of September, before shedding another 2.4% after-market on a DoJ subpoena.
- APAC stocks traded with losses across the board following the dire session on Wall Street, which saw a tech rout led by downside in chips,...
03 Sep 2024, 11:00 by Newsquawk Desk
- Equities are entirely in the red, continuing the subdued risk tone seen in APAC trade overnight
- Dollar is slightly firmer, JPY bid given the risk tone & Ueda documents, Antipodeans lag
- USTs flat ahead of key US ISM Manufacturing PMI, Bunds slightly firmer
- Crude is significantly lower but with specifics light, XAU climbs back above USD 2.5k, base metals slip
- Looking ahead, US PMI (F), ISM Manufacturing, BoE’s...
03 Sep 2024, 06:43 by Newsquawk Desk
- APAC stocks eventually faltered and traded in the red across the board, albeit with losses somewhat limited amid cautious trade ahead of the US return.
- DXY remained in a tight range, JPY outperformed and Antipodeans lagged as risk tilted lower.
- China Commerce Ministry, in response to Canada's tariffs on Chinese products, said China to initiate an anti-dumping investigation into canola imports from Canada,
- European equity futures are...
02 Sep 2024, 06:45 by Newsquawk Desk
- APAC stocks traded mostly lower despite the gains seen on Wall Street on Friday, with the mood in the APAC region dampened by the continued decline in Chinese NBS Manufacturing PMI ahead of key risk events including US NFP on Friday.
- DXY resided in a tight range, NZD lagged after last week’s strong performance, while CNH weakened post-PMIs.
- The far-right German AfD will claim a clear victory in state parliamentary elections in the German state of...
30 Aug 2024, 12:46 by Newsquawk Desk
- MON: US & Canada (Labor Day), EZ & UK Final Manufacturing PMIs (Aug), Chinese Caixin Manufacturing PMI Final (Aug)
- TUE: Swiss CPI (Aug), Swiss GDP (Q2), Turkish CPI (Aug), US ISM Manufacturing PMI (Aug), Final Manufacturing PMI (Aug)
- WED: BoC & NBP Policy Announcements; Australian GDP (Q2), Chinese Caixin Services PMI (Aug), EZ & UK Composite/Services Final PMIs (Aug), EZ Producer Prices (Jul), Canadian Trade Balance (Jul), US Durables...