• European bourses are modestly firmer, Euro Stoxx 50 +0.2%, though fresh developments have been limited and the upside itself is tentative at best.
• USD has lost overnight recovery momentum with peers benefiting across the board with the Kiwi leading ahead of the RBNZ
• Rangebound trade for core fixed income, though intraday boundaries have extended on both sides
• Comparably contained session for the crude complex after yesterday’s pronounced...

• APAC stocks were mostly positive as regional bourses attempted to recover from the recent China COVID woes.
• European equity futures were modestly higher overnight with the Euro Stoxx 50 future +0.2% after cash markets closed lower by 0.4% yesterday.
• DXY has pulled back after topping out just shy of 108, USD/JPY Is back below 142 and EUR/USD remains stuck on a 1.02 handle.
• Saudi officials denied talk of an increase in OPEC+ oil...

• European bourses are pressured across the board, Euro Stoxx 50 -0.6%, as China's COVID crackdown weighs on sentiment
• Stateside, futures are similarly impaired at the start of a holiday-thinned week with today's US docket particularly thin ex-supply
• USD has benefited from above risk-aversion with G10 peers lower across the board, particularly Yen & Yuan
• Despite pronounced action earlier on, core fixed benchmarks are in relative proximity...

• APAC stocks began the week mostly lower amid headwinds from China after several areas announced fresh virus restrictions.
• European equity futures were softer overnight with the Euro Stoxx 50 future -0.3% after cash markets closed higher by 1.2% on Friday.
• DXY is back on a 107 handle with EUR/USD, Cable and USD/JPY on 1.02, 1.18 and 140 handles respectively.
• Fed’s Bostic (2024 voter) believes that another 75bps-100bps tightening will be...

• MON: PBoC LPR & Israel Policy Announcements; German Producer Prices (Oct), US National Activity Index (Oct), New Zealand Trade Balance (Oct), UK CBI Orders (Nov)
• TUE: EZ Current Account (Sep), Canadian Retail Sales (Sep), EZ Consumer Confidence Flash (Nov), US Richmond Fed (Nov), Australian PMIs Flash (Nov)
• WED: RBNZ Policy Announcement, Japanese Holiday; EZ, UK & US PMIs Flash (Nov), US Durable Goods (Oct), University of Michigan Final (Nov), US...

• European bourses have experienced a firm bounce throughout the morning, Euro Stoxx 50 +1.2%, one which has occurred without a clear fundamental driver.
• Stateside, performance is much the same though magnitudes are a touch more contained, ES +0.6%.
• Core benchmarks are under notable pressure, downside which seemingly commenced without a clear catalyst or driver and prior to the latest remarks from ECB’s Lagarde & TLTRO.III repayment
• DXY...

• APAC stocks traded mostly firmer as sentiment somewhat picked up following the negative handover from Wall Street
• DXY was choppy on either side of 106.50 but held a downside bias whilst G10s gained and the NZD and GBP outperformed
• European equity futures were firmer overnight, with the Euro Stoxx 50 future +0.7% after cash markets closed lower by 0.1%.
• North Korea fired a missile believed to be an ICBM with the capacity to reach the US...

• Stocks in Europe are on a mixed footing after scaling back opening gains with no clear fundamental catalyst driving price action thus far ahead of numerous events.
• Similar action in US futures with the ES back below 4k ahead of data, Fed speak and some corporate updates.
• DXY has seen an intra-day recovery from a 106.08 low to a 106.68 peak, with G10 peers now all pressured vs initial modest upside against the Greenback.
• Gilts unchanged ahead...

• APAC stocks traded mostly lower throughout the session following the downbeat lead from Wall Street (-0.8%). 
• DXY was choppy in a tight range and traded on either side of 106.50 after printing a 105.85-106.79 range yesterday; Yuan underperformed
• ECB officials may favour a 50bps rate hike in December rather than 75bps, although an inflation surge could still lead to 75bps, according to Bloomberg sources
• Fed's Waller (voter, hawk) said...

• European bourses have spent much of the morning fairly contained but with a gradually increasing negative bias, as the recent rally pauses amid numerous geopolitical developments.
• DXY is once again on the backfoot and sub-106.00 to the modest benefit of peers, ex-JPY.
• The bund is currently near the unchanged mark despite some fairly marked gyrations overnight and throughout the European morning amid geopols. & hot UK CPI.
• Crude...

• APAC stocks traded lower throughout the session but climbed off session lows as markets juggled the US PPI data and the latest geopolitical developments.
• Polish Foreign Ministry said a "Russian-made" rocket landed in a Polish village at 15:40 local time on Tuesday
• US officials said initial findings suggest the missile that hit Poland was fired by Ukrainian forces at an incoming Russian missile, according to AP.
• DXY traded on either side of...

• European bourses are mixed overall, Euro Stoxx 50 +0.2%, as opening gains scale back after a mostly constructive APAC session.
• Stateside, US futures are firmer across the board with Tech leading after strong APAC tech trade and in wake of Fed's Brainard, ES +0.7%.
• DXY continues to slip after a pronounced move which occurred prior to the European cash open, currently near sub-106.00 lows to the broad benefit of peers.
• BTPs are leading the...

• APAC stocks traded mixed following a weak lead from Wall Street (S&P 500 -0.9%) with newsflow also quiet overnight
• Chinese Retail Oct Sales contracted Y/Y, whilst Industrial Output missed expectations; Japanese Q3 GDP unexpectedly contracted
• DXY traded on either side of 107.00, EUR/USD and GBP/USD were flat, AUD was unfazed by RBA minutes, JPY lagged
• European equity futures traded with modest gains throughout the session with the Euro...

• European bourses are posting mild gains, Euro Stoxx 50 +0.2%, with participants awaiting the conclusion of the Biden-Xi meeting.
• Stateside, futures are pressured as the recent rally seemingly runs out of steam and also following Fed's Waller pushing back on the post-CPI reaction, ES -0.4%.
• DXY has surpassed the 107.00 mark to the detriment of the traditional havens while the Yuan continues to draw focus.
• A concerted bid has recently been...

• APAC stocks traded mixed despite the positive lead from the US; Hong Kong outperformed on reports China is looking to support its property sector
• DXY attempted to claw back recently lost ground but remained under 107.00; Yuan outperformed following a much stronger PBoC fixing vs Friday
• Bitcoin declined under USD 16,000 overnight whilst Ethereum fell under USD 1,200 amid contagion fears from the collapse of FTX
• US President Biden and Chinese...

Week Ahead November 14th-18th:

• MON: OPEC MOMR, EZ Industrial Production (Sep), Japanese GDP (Q3).
• TUE: RBA Minutes (Nov), IEA OMR; Chinese Retail Sales (Oct), UK Unemployment Rate (Sep), Claimant Count (Oct), Swedish CPIF (Oct), EZ Trade Balance (Sep), GDP Flash Estimate (Q3), US PPI Final Demand (Oct).
• WED: UK CPI (Oct), US Export/Import Prices (Oct), US Retail Sales (Oct), Industrial Production (Oct), Canadian CPI (Oct), Japanese...

• Major bourses in Europe are mostly firmer following CPI-induced optimism, with added tailwinds from China easing COVID measures; FTSE 100 lags 
• DXY tumbles with G10s all firmer against the Buck, whilst the Yuan outperforms in the EM-space
• Crude futures and base metals are extending the gains seen overnight which were sparked by China’s COVID update
• Chinese President Xi will meet with US President Biden, according to the Chinese Foreign...

• APAC stocks traded with firm gains as the region followed suit to the post-CPI global stock surge which saw the Nasdaq 100 close higher by 7.5%.
• Chinese stocks were boosted in late trade after China relaxed some of its COVID protocols for close contacts and inbound travel.
• European equity futures were marginally higher with Eurostoxx 50 futures up by 0.9% after the cash market closed with gains of 3.2% yesterday.
• DXY remains at...

• Major European bourses mostly hold a downward bias following weak handovers from Wall Street and then APAC; US futures are flat
• In FX, DXY found a base just above 110.00 before making its way to 111.00; GBP outperforms and the EUR lags
• Fed’s Kashkari said any talk of a pivot is premature and added that they will do what is needed to bring inflation back down
• FTX is seeking emergency funding to meet withdrawal requests and without funding...

• APAC stocks traded negatively as the region followed suit to the losses stateside which were prompted by crypto concerns and a stronger USD.
• European equity futures were subdued with Eurostoxx 50 futures lower by 0.6% after the cash market closed down 0.3% yesterday.
• DXY is softer but on a 110 handle, EUR/USD trades above parity, Cable lingers around 1.14.
• Binance walked away from the FTX deal due to diligence and reports on the mishandling...

• Major bourses in Europe hold a downside bias after seeing some choppiness at the cash open and following a mixed APAC handover; US futures are also softer
• US Midterm Elections are mostly as expected so far with GOP's leading the House while the Senate is seen as a toss-up; there was very little market reaction in response to the mid-terms overnight
• DXY attempts to nurse some recent losses and trades on either side of 110.00 whilst the GBP and NZD...

• US Midterm Elections are mostly as expected so far with GOP's leading the House while the Senate is seen as a toss-up.
• There has been very little market reaction in response to the mid-terms with the Dollar, US indices and T-notes all contained.
• European equity futures were subdued with Eurostoxx 50 futures down 0.4% after the cash market closed up 0.8% yesterday.
• DXY is marginally firmer vs. peers, EUR/USD is contained above parity,...

• Major bourses in Europe portray a mixed picture with no clear conviction seen heading into the US mid-term elections, US equity futures post mild gains but with price action contained
• DXY gleaned some traction across the board amidst a firmer rebound in Treasury yields, renewed weakness in the Yuan and general consolidation ahead of impending risk events
• US Treasuries were first off the block in terms of paring more losses from worst levels to turn marginally...

• APAC stocks were mixed as the region only partially sustained the early momentum seen following the positive handover from Wall St.
• European equity futures are contained with Eurostoxx 50 futures up 0.1% after the cash market closed up 0.6% yesterday.
• DXY is a touch firmer and on a 110 handle, EUR/USD lingers around parity, Cable is back below 1.15.
• UK PM Sunak is expected to increase pensions and benefits in line with inflation, according...

• Major bourses in Europe kicked off the session with mild losses across the board, but have since moved firmly into the green amid China-COVID focus
• Amidst this, the DXY has faded significantly from an initial rebound to 111.28 highs; currently, holding around 110.30 to the mixed benefit of peers
• Core counterparts have spent the morning under pressure amid the increasingly constructive risk tone; however, this has eased and USTs are now essentially...