09 Mar 2023, 11:30 by Newsquawk Desk
- Equities are under pressure as sentiment has slipped modestly throughout the European morning, ES -0.2%.
- The DXY is similarly weighed on and is below Wednesday's trough to the benefit of FX across the board; JPY outpaces pre-BoJ.
- Core fixed income is back within tighter ranges after an initial decline in the early European morning; long-end yields bid.
- Commodities are generally rangebound with catalysts somewhat limited and focus on geopols...
09 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mostly rangebound after the choppy performance in the US, while the region also digested weak data including softer-than-expected Chinese inflation.
- European equity futures are indicative of a marginally softer open with the Euro Stoxx 50 -0.1% after the cash market closed up 0.2% on Wednesday.
- DXY is contained and holding onto gains on a 105 handle, EUR/USD and Cable remain on 1.05 and 1.18 handles respectively, JPY leads G10...
08 Mar 2023, 11:30 by Newsquawk Desk
- Equities are mixed within fairly narrow parameters given the tentative post-Powell sentiment ahead of ADP & numerous speakers.
- DXY has lifted to a fresh YTD peak, with peers mixed as AUD outperforms and JPY lags.
- GBP was unfazed by Dhingra reiterating a preference to pause tightening, in remarks that were not as explicit as dovish-peer Tenreyro.
- Fixed income is attempting to tick higher, in what is more an attempted consolidation than...
08 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly lower amid headwinds from Wall St where risk assets suffered after Powell's hawkish testimony.
- European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after the cash market closed down 0.8% on Tuesday.
- DXY lingers around YTD highs post-Powell, AUD is attempting to claw back recent losses, JPY lags.
- Hawkish Fed pricing saw the curve hit its most-inverted levels in over 40 years...
07 Mar 2023, 11:25 by Newsquawk Desk
- European bourses & US futures are contained in relatively narrow ranges pre-Powell, following firmer but ultimately capped APAC action on China trade data
- DXY continues to inch higher but has stalled at 104.50 before Monday's 104.69 best; AUD lags post-RBA
- EGBs/Gilts initially tested/breached Monday's best, but have pulled back slightly following relatively lacklustre auctions
- USTs are firmer and at the top-end of their range ahead of...
07 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mostly higher although gains were capped as participants digested the latest Chinese trade data.
- Chinese trade data showed a continued contraction in both dollar-denominated exports and imports.
- RBA hiked rates by 25bps as expected but provided a slightly less hawkish tone.
- European equity futures are indicative of a contained open with the Euro Stoxx 50 flat after the cash market closed up 0.4% on...
06 Mar 2023, 11:20 by Newsquawk Desk
- European bourses are posting modest gains of circa. 0.3% in a continuation of the firmer APAC handover where the upside was capped by China's GDP targets.
- US futures are essentially unchanged given the above and as participants await the week's commentary from Fed officials, incl. Chair Powell, and Friday's NFP report.
- China set its 2023 GDP target at circa. 5.0% (exp. 5.0-5.5%), CPI target around 3%, jobless-rate around 5.5%.
- The DXY is...
06 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive as the majority of bourses took impetus from last Friday’s gains on Wall St.
- China will target 2023 GDP growth of about 5.0% (exp. 5.0%-5.5%) and CPI around 3%.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 1.3% on Friday.
- DXY is a touch softer vs. peers, EUR saw mild gains post-Lagarde, antipodeans softer vs....
03 Mar 2023, 13:25 by Newsquawk Desk
- MON: Swiss CPI (Feb), EZ Sentix Index (Mar), EZ Retail Sales (Jan), South Korean GDP Revised (Q4).
- TUE: RBA Policy Announcement, EIA STEO, Australian Trade Balance (Jan), Chinese Trade Balance (Feb).
- WED: BoC Policy Announcement, NBP Policy Announcement, German Retail Sales (Jan), EZ GDP Revised (Q4), US ADP National Employment (Feb), Japan GDP Revised (Q4).
- THU: Chinese Inflation (Feb).
- FRI: BoJ Policy...
03 Mar 2023, 11:25 by Newsquawk Desk
- European bourses are firmer across the board, Euro Stoxx 50 +0.9%, in a continuation of the firmer Wall St./APAC handover; US futures bid, though to a lesser extent.
- DXY is under pressure with G10 peers firmer across the board as UST yields ease across the curve, CHF the main beneficiary.
- Fixed income benchmarks are bid across the board as yields continue to pullback in an extension of APAC action with EZ PPI data assisting.
- Crude benchmarks...
03 Mar 2023, 06:50 by Newsquawk Desk
- APAC stocks traded mostly higher amid tailwinds from the US and as the region also digested further strong Chinese Caixin PMI data.
- Fed's Bostic (non-voter) said the Fed may be in a position to pause by mid-to-late summer.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.6% after the cash market closed up 0.6% yesterday.
- DXY is a touch softer and back on a 104 handle, EUR/USD hovers just above 1.06, Cable is...
02 Mar 2023, 11:25 by Newsquawk Desk
- European bourses are softer across the board, Euro Stoxx 50 -0.5%, though off lows with limited reaction to EZ HICP ahead of minutes/Schnabel.
- US futures are similarly pressured, NQ lags given yield upside; CRM +15% and TSLA -6.% pre-market.
- USD has been aided by yields and geopolitical jitters, to the detriment of peers across the board with EUR unreactive overall to HICP.
- A hawkish release which sent Bunds to just shy of earlier lows,...
02 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were choppy and mostly traded rangebound after the uninspiring handover from Wall Street.
- European equity futures are indicative of a marginally softer open with the Euro Stoxx 50 -0.1% after the cash market closed down 0.5% yesterday.
- DXY heads into the European session firmer vs. peers but still on a 104 handle.
- 10yr UST futures extended on their losses as the 10yr yield rose back above 4.00%.
- Looking...
01 Mar 2023, 11:35 by Newsquawk Desk
- Both European and US equity futures are firmer, in a continuation of the data-inspired APAC handover; US ISM & Fed speak ahead
- Specifically, the data released included the fastest pace of expansion for Chinese Manufacturing PMI in more than a decade.
- DXY has been pressured by marked Yuan action, while GBP lags post-Bailey and EUR outperforms ahead of German mainland CPI.
- EGBs are softer on the session, give state CPIs & Nagel, though...
01 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive as the region digested a slew of data releases.
- Official Chinese PMI printed its highest level since April 2012 and Caixin Manufacturing PMI also returned to expansion territory.
- European equity futures are indicative of a contained open with the Euro Stoxx 50 +0.1% after the cash market closed down 0.2% yesterday.
- DXY is a touch softer and back on a 104 handle, EUR/USD lingers below the 1.06 mark, JPY lags...
28 Feb 2023, 11:30 by Newsquawk Desk
- European bourses are mixed/flat, Euro Stoxx 50 +0.1%, as the initial pressure from hot French/Spanish inflation readings has eased through the morning.
- US futures in-fitting with the above ahead of Fed speak; AAPL lower on Foxlink, CVX higher post-buyback update.
- DXY is firmer, but is closer to the session trough, while EUR has faded initial CPI-induced upside, GBP outperforms & JPY lags.
- Debt futures fade with Bunds at a fresh cycle low...
28 Feb 2023, 06:48 by Newsquawk Desk
- APAC stocks eventually traded mixed heading into month-end and despite the early momentum from the positive close on Wall St.
- European equity futures are indicative of a flat open with the Euro Stoxx 50 Unch. after the cash market closed up 1.7% yesterday.
- DXY is a tad firmer but remains sub-105, antipodeans lag, Cable maintains 1.20 status.
- Northern Ireland DUP Leader Donaldson said they will now assess proposed Brexit arrangements against...
27 Feb 2023, 11:20 by Newsquawk Desk
- European bourses are firmer across the board, Euro Stoxx 50 +1.8%, after a cautious APAC handover following Friday's selling pressure.
- Stateside, futures are currently posting more modest upside of around 0.5% with Fed's Jefferson (voter) due.
- DXY is softer but remains above 105.00 with GBP outperforming on UK-EU N. Ireland deal optimism; Antipodeans lag slightly.
- Bonds remain underpressure though current losses are relatively modest,...
27 Feb 2023, 06:49 by Newsquawk Desk
- APAC stocks traded cautiously heading into month-end and following on from the soft close on Wall St. on Friday.
- European equity futures are indicative of a slightly positive open with the Euro Stoxx 50 +0.1% after the cash market closed down 1.9% on Friday.
- DXY sits on a 105 handle, JPY marginally leads G10 FX, Antipodeans lag.
- UK PM Sunak's office said he will meet with EU's von der Leyen for talks on Northern Ireland Brexit deal late...
24 Feb 2023, 14:30 by Newsquawk Desk
- MON: EZ Economic Sentiment (Feb), US Durable Goods (Jan), Japanese Retail Sales (Jan), German Prelim. CPI (Feb).
- TUE: NBH Announcement, Canadian GDP (Q4), US CaseShiller (Dec).
- WED: Australian CPI (Jan) and GDP (Q4), Chinese Official PMIs (Feb), Chinese Caixin Manufacturing Final PMI (Feb), EZ, UK, US Manufacturing Final PMI (Feb), German Prelim CPI (Feb), US ISM Manufacturing PMI (Feb).
- THU: ECB Minutes, EZ Flash CPI (Feb) and...
24 Feb 2023, 11:25 by Newsquawk Desk
- European bourses are contained/slightly firmer, with fresh drivers limited as the focus is on geopolitics and upcoming US data.
- Stateside, futures are softer but with the ES just above 4k, the NQ is the laggard following some recent pressure in the fixed income complex.
- DXY remains firmer on the session though is yet to meaningfully advance higher, to the mixed fortune of peers with JPY lagging post-Ueda while EUR & GBP are flat.
- EGBs...
24 Feb 2023, 06:50 by Newsquawk Desk
- APAC stocks traded mostly rangebound after the choppy but positive performance on Wall St.
- BoJ Governor nominee Ueda noted that current monetary policy is appropriate and Japan still needs more time for inflation to sustainably hit 2%.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.4% yesterday.
- DXY is steady around the 104.50 mark, USD/JPY was choppy alongside Ueda,...
23 Feb 2023, 11:25 by Newsquawk Desk
- European bourses are firmer on the session with a hefty earnings docket dictating action after an uninspiring APAC handover.
- Stateside, futures are broadly-speaking in-fitting with Europe though the NQ +0.7% outperforms given tailwinds from NVIDIA's after-market update.
- The DXY continues to grind higher at the top-end of 104.30-65 parameters to the mixed fortune of peers; Antipodeans outperform and GBP lags despite Mann.
- Gilts are the...
23 Feb 2023, 06:50 by Newsquawk Desk
- APAC stocks lacked firm direction with price action mostly rangebound amid the mixed US close and with Japanese markets closed.
- FOMC minutes noted a few participants favoured a 50bps hike and all agreed more rate hikes are needed.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed down 0.2% yesterday.
- DXY is a touch softer but maintaining 104 status, support in EUR/USD at...
22 Feb 2023, 11:25 by Newsquawk Desk
- European bourses are softer across the board as hawkish price action remains in full swing, US futures contained pre-Minutes.
- DXY remains underpinned by haven dynamics to modest detriment of peers ex-NZD after a 50bp RBNZ hike and guidance for further tightening.
- Core fixed has bounced following well-received EZ/UK supply, in a rebound from marked initial pressure with Bunds printing a fresh YTD trough.
- Commodities are underpressure by the...