• European bourses & US futures are benefitting from a continuation of the post-Fed/Powell price action
• DXY pressured to a 106.15 trough with fixed income bid and long-end yields under pressure
• USD/JPY pressured on the latest BoJ sources while the NOK is ultimately softer after the Norges Bank
• Commodities lifted given the above with specifics somewhat light thus far
• Iran warned of “harsh consequences” if a...

• FOMC kept rates unchanged as expected and Chair Powell downplayed the September dot plots.
• APAC stocks mostly followed suit to the gains on Wall St which were spurred by soft data and Powell comments.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.7% after cash market closed up by 0.8% yesterday.
• DXY remains softer post-FOMC, EUR/USD pivots around the 1.06 mark, USD/JPY continues to pull back from...

• US futures are a touch softer ahead of Tier 1 events while European bourses have recovered slightly from initial downside with overall action fairly contained
• USD bid with the index eclipsing its end-October peak, JPY attempts to claw back post-BoJ downside while NZD slips after jobs numbers
• Fixed benchmarks cautious but have managed to benefit modestly from the risk tone
• Crude lifted by Iran’s Khamenei reiterating his call for Muslim...

• APAC stocks traded predominantly higher albeit with upside capped as the region digested disappointing Chinese Caixin Manufacturing PMI
• Chinese Caixin Manufacturing PMI Final (Oct) 49.5 vs. Exp. 50.8 (Prev. 50.6)
• European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.4% after cash markets closed up by 0.8% yesterday
• DXY is contained following yesterday's gains, JPY attempts to claw back lost ground but...

• BoJ maintained NIRP and the 10yr JGB yield target at 0% but widened the reference range to 100bps up or down from target
• European bourses & US futures in the green, with Europe unreactive to CPI & GDP data
• Action which followed mixed APAC trade given numerous data release incl. disappointing Chinese PMIs
• USD/JPY to 150.76 peak, DXY below 106.0 with EUR bid while Antipodeans diverge
• Fixed benchmarks...

• APAC stocks traded mixed amid a deluge of data releases at month-end including disappointing Chinese official PMIs
• BoJ maintained NIRP and the 10yr JGB yield target at 0% but widened the reference range to 100bps up or down from target
• European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after cash markets closed higher by 0.4% yesterday
• DXY is firmer and just below the 106.50 mark, JPY lags...

• European bourses and US futures in the green ahead of a packed week of Tier 1 events
• DXY slips with AUD outperforming post-data while EUR & JPY are conscious of OpEx
• Debt fades from initial highs with Gilts and USTs now in the red but Bunds still just firmer post-data
• Crude & XAU a touch softer as geopolitical risk premium unwinds slightly from Friday
• Looking ahead, highlights include German Prelim CPI,...

• APAC stocks ultimately traded mixed but with the major indices mostly in the red as geopolitics continued to dominate headlines ahead of month-end and this week’s slew of upcoming risk events.
• DXY was rangebound, EUR/USD traded steadily, 10-year UST futures were contained, and Bund futures remained firmer after last week’s spoils and recent ECB commentary regarding no more hikes.
• Crude futures reversed most of Friday's gain, while reports also noted Saudi could...

Week Ahead 30th October - 3rd November

• MON: German Prelim CPI (Oct), EZ Sentiment Survey (Oct), Japanese Retail Sales (Sep) and Industrial Output (Sep)
• TUE: BoJ Announcement + Outlook Report, Chinese Official PMIs (Oct), EZ Flash CPI (Sep) and GDP (Q3)
• WED: FOMC & BCB Policy Announcements, RBNZ FSR, All Saints Day; Japanese Jibun Final Manufacturing PMI (Oct), Chinese Caixin Final Manufacturing PMI (Oct), UK & US Final...

• US futures are firmer as broader risk appetite is supported post-AMZN/INTC
• European bourses experience divergence as the above tone is offset in places by marked losses in heavyweight Sanofi post-results
• DXY remains above the 106.50 mark with the JPY around 150.00 where marked OpEx resides, PPI supports AUD
• Core fixed income awaits US PCE but retain an underlying bid
• Crude benchmarks benefit from a flare-up in...

• APAC stocks eventually traded firmer across the board as the well-received earnings from Amazon and Intel pushed sentiment into the positive after the mostly lower close on Wall Street.
• US equity futures resumed trading on a firmer footing as Amazon shares rose by over 5% in the after-market as the Co. was bullish on AWS in its conference call, while Intel shares had soared 7.5% amid high demand for AI products.
• US President Biden ordered strikes against two...

• Equities are in the red as a blockbuster docket of earnings dominates price action
• Within Europe, Autos & Banking names lag after results from Volvo Cars, Mercedes-Benz, Volkswagen, Standard Chartered, BNP Paribas & many more
• Stateside, Meta slips pre-market with desks citing a cautious/conservative outlook
• DXY in the green while JPY eclipses 150.50 before a brief but sharp pullback, core debt benchmarks near unchanged...

• APAC stocks traded lower across the board, following the weak lead from Wall Street; Mainland China saw the shallowest losses among the majors.
• Meta shares fell 3.4% after-market during the earnings call despite rising almost 5% post-earnings; Alphabet closed with losses of near 10%.
• DXY found a firmer footing and traded in an APAC range north of 106.50; G10s were softer across the board while USD/JPY approached 150.50.
• European equity...

• European bourses & US futures are in the red with the breakdown heavily influenced by a busy corporate docket
• Microsoft +3.6% & Google -6.8% in the pre-market, ahead of heavyweights include Meta & Boeing
• DXY eclipses Monday’s best to the modest detriment of peers, AUD gives up post-CPI gains & JPY continues to test 150.0
• Core fixed benchmarks lose initial upward momentum despite strong auctions, modest pressure emanating from...

• APAC stocks traded mixed following a firmer lead from Wall Street as eyes turned to earnings from heavyweights Microsoft and Alphabet.
• Microsoft shares rose 3.9% and Alphabet tumbled 5.9% with cloud growth in focus. ES and NQ dipped slightly as Microsoft issued its guidance.
• ASX 200 slipped and AUD/USD was boosted by hotter-than-expected Australian CPI, which led to hawkish revisions to some analysts' RBA calls.
• Israeli occupation forces...

• European bourses & US futures reside in the green despite initial PMI-pressure, focus turns to US mega-caps
• DXY in the green and aided by EUR downside to the modest detriment of peers though AUD outperforms post-Bullock
• EGBs bolstered by the PMIs with yields pressured as such while USTs remain more contained pre-data/supply
• Two-way commodity action on data and subsequent geopolitical/macro updates, crude currently in the...

• APAC stocks traded mixed following a similar lead from Wall Street with Mainland China leading the gains overnight.
• DXY eventually dipped under the 105.50 mark as Treasury yields held onto losses; EUR/USD rose above its 50 DMA while USD/JPY tested 149.50 to the downside.
• Bitcoin saw a volatile session as prices surged to levels near USD 35,000 before pulling back to around USD 33,000 and then stabilising around USD 34,500 - some cited ETF...

• Equities in the red as initial European upside dissipates amid the soured risk tone and further yield upside
• USD unable to benefit from the above for much of the morning, but has most recently inched into the green as the US 10yr yield surpasses 5.0%
• JPY shrugs off the latest sources piece around BoJ YCC and resides just shy of 150.00
• Core fixed income benchmarks all reside at session lows with BTPs the outlier and firmer after S&P...

• APAC stocks traded with losses across the board following the downside seen on Wall Street on Friday; Foxconn shares fell amid a Chinese probe.
• Oil futures, spot gold, and the Swiss Franc unwound some geopolitical risk premium overnight amid no major escalation in the Middle East over the weekend.
• An Israeli official said there will be 'no ceasefire' in Gaza, according to CNN. The US is pressing Israel to delay the Gaza invasion to win hostage...

• MON: Bank of Israel Announcement, EZ Consumer Confidence (Oct), US National Activity Index (Oct)
• TUE: German GfK Consumer Confidence (Nov), EZ/UK/US Flash PMIs
• WED: BoC Announcement, NBH Announcement, Australian CPI (Q3/Sep), German Ifo Survey (Oct)
• THU: ECB Announcement, CBRT Announcement, South Korean GDP Advanced (Q3), US GDP Advanced (Q3
• FRI: CBR Announcement, Japanese Tokyo CPI (Oct), Australian PPI...

• European bourses are following the APAC handover and reside well into the red, US futures lower but nearer unch.
• USD struggling for direction in somewhat narrow parameters as USD/JPY probes 150.00 while GBP slips post-data/BoE speak
• Crude and precious metals firmer with geopolitics continuing to drive action while base metals dip post-APAC trade
• Bunds and USTs remain firmer with long-end yields pulling back a...

• APAC stocks mostly declined following the losses on Wall St post-Powell and as geopolitical tensions remain high.
• Fed Chair Powell suggested that policy was not too tight but also noted that higher bond yields at the margin could reduce the need for the Fed to tighten.
• Israel's military received the 'green light' to move into Gaza, according to ABC News citing an Israeli official.
• European equity futures are indicative of a lower open with...

• European bourses and US futures reside in the red with earnings dominating newsflow; NFLX +13.5%, TSLA -4.8%, SAP +4.8%.
• USD has been grinding higher alongside yields to the detriment of peers with the slim exception of EUR & JPY
• Crude benchmarks reside in the red after Wednesday’s gains with metals mixed and spot gold near unchanged
• Reports of renewed heavy shelling by Israel in Gaza while reports indicate Israel won backing from Biden...

• APAC stocks were lower across the board amid spillover selling from global peers.
• After-hours earnings in the US saw Netflix surge 12.8%, whilst Tesla fell 4.2%.
• European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.6% after the cash market closed down 1.1% yesterday.
• FX markets are steady with DXY caged in a tight range above 106.50, AUD suffers post-jobs data and USD/JPY continues to eye...

• European bourses/US futures experience pressure as geopolitical tensions overshadow stronger than expected Chinese activity data
• DXY comfortably above 106.00 but just off best, Yuan unable to benefit from mentioned data while GBP benefits from UK CPI
• Debt benchmarks pressured post-data though have climbed off lows with Bunds probing positive territory post-supply
• Commodities derive support from China and geopols., crude benchmarks hit highs...