• European bourses are firmer across the board as risk-sentiment recovers, Euro Stoxx 50 +5.0%; albeit, Energy/Basic Resources names are lagging amid an unwinding in geopolitical-premia, evidenced notably in crude.
• US futures are firmer across the board, though the magnitude of action is less pronounced when compared to European peers, ES +1.7%.
• Russia says "some progress" has been made in discussions with Ukraine; subsequently, Ukraine's Foreign Minister Kuleba says...

• US stocks finished mostly lower whilst the APAC region posted a mixed performance overnight. 
• European equity futures are indicative of a higher open with the Euro Stoxx 50 future up 1.7% after the cash market closed down 0.2% yesterday.
• Russian Foreign Minister Lavrov will travel to Turkey today to meet with Ukrainian Foreign Minister Kuleba. 
• DXY sits just below 99.00, EUR/USD reclaimed 1.0900, AUD leads in the G10 FX...

• European bourses are mixed, Euro Stoxx 50 +0.9%, after an initial boost to sentiment on source reports around large-scale EU bond issuance; albeit, this upside has waned.
• Similar action has been exhibited in US futures, ES +0.4%, though performance there is positive across the board once more after a brief foray back into negative territory.
• EU is reportedly considering a massive joint bond sale to finance defence and energy, according to Bloomberg citing sources;...

• S&P 500 and Dow Jones suffered their worst performance YTD and the Nasdaq Comp. finished in a bear market.
• APAC stocks were seen lower overnight and US equity futures extended on losses; ES -0.7%.
• The Euro Stoxx 50 future is down 2.4% after the cash market closed down 1.2% and in bear market territory yesterday.
• Ukraine said talks with Russia led to small positive developments, but there were no significant results on a truce or...

• European bourses are hampered across the board, Euro Stoxx 50 -2.3%, as geopolitics continue to dominate; US futures are also pressured, ES -1.7%, but faring marginally better
• WTI and Brent surge amid multiple bullish-factors re. US possibly banning Russian oil, Iran-nuclear delays and China growth ambitions; thus, benchmarks reached highs of USD 130.50/bbl and USD 139.13/bbl respectively.
• Russian & Ukraine Foreign Ministers are to meet in Antalya, Turkey,...

• MON: Chinese Trade Balance (Feb), German Consumer Goods/Industrial Orders (Jan), EZ Sentix (Mar), US Employment Trends (Feb), Australian Consumer Sentiment (Mar).
• TUE: EIA STEO; Australian NAB Business Conditions/Confidence (Feb), German Industrial Output/Production (Jan), EZ Employment Final (Q4), US NFIB (Feb), Canadian Trade Balance (Jan), US International Trade (Jan), Wholesale Inventory/Sales (Jan).
• WED: South Korean Presidential Elections; Chinese...

• Ukraine's ruling party head said the third round of talks with Russia will take place on Monday.
• US Secretary of State Blinken said the US and allies are in active discussions regarding a Russian oil import ban; Brent rose above USD 139/bbl at one stage. 
• Russian demands for sanction exemptions have delayed Iranian nuclear talks. 
• Asian stocks are lower, US futures are negative with the e-mini S&P below 4300, European...

• European bourses are hampered, Euro Stoxx 50 -3.7%, after sentiment was hit on the escalating Zaporizhzhia nuclear situation, with Russia now having control of the area
• Stateside, US futures, ES -0.8%, are pressured but remain modestly above overnight lows as participants look to today's Labour Market Report
• Ukraine Presidential advisor says they will not say the date/time of the next round of discussions with Russia in advance
• DXY continues...

• Ukraine and Russia reached an understanding on a joint provision of humanitarian corridors for evacuating civilians.
• Ukraine's Zaporizhzhia nuclear power plant was attacked by Russia; safety of the plant has since been secured. 
• APAC stocks were seen lower amid fears surrounding the Russian attack on the Ukrainian power plant. 
• European equity futures are indicative of a negative open with the Euro Stoxx 50 future down 2.1% after...

• Next round of Russia-Ukraine discussions could start at 12:00GMT today; though, Russia notes that they are awaiting the arrival of the Ukrainian delegation
• European bourses are lower and in-line with the generally cautious mood ahead of negotiations; US futures lower, ES -0.1%, but more contained pre-data & Fed speak
• DXY remains firm and either side of 97.50, with peers generally lower and havens not benefitting from the cautious tone in-fitting with the core...

• APAC stocks traded mostly positive following gains in the US where stocks and yields climbed.
• European equity futures are indicative of a flat open after the Eurostoxx 50 cash market closed higher by 1.5% yesterday.
• DXY remains on a firm footing, EUR/USD hovers around 1.11 and Cable is circa 1.34.
• Interfax reported that Russia and Ukraine are to hold talks today. 
• Fitch and Moody's cut Russia's sovereign...

• Ukraine and Russia will hold a second round of discussion later today, via Tass citing an aide to the Ukraine presidential office - awaiting Ukranian confirmation.
• Earlier, Russia's Kremlin says the Russian delegation will be waiting later today and are ready to continue talks; not clear if Ukrainian officials will attend the talks.
• Losses in Europe trimmed and bourses are now predominantly positive following Kremlin commentary around today's potential negotiations,...

• US stocks finished lower (S&P 500 -1.6%) with Asian equities also seen softer overnight. 
• European equity futures are indicative of a soft open with the Euro Stoxx 50 future -0.1% after the cash market closed lower by 4.0% yesterday.
• In FX, the DXY extended on gains above 97.00, EUR/USD has reclaimed 1.1100 and cable sits on a 1.33 handle.
• US President Biden said getting prices under control is his highest...

• Sentiment in equities has moved to risk-off as the mornings Russia-Ukraine updates are generally downbeat; Euro Stoxx 50 -2.5%, ES -0.5%
• US futures are lower across the board, ES -0.5%, though magnitudes are more contained than their European peers as participants look to a heavy data-docket ahead and Fed speak incl. Powell later in the week
• Ukrainian President Zelensky says that negotiations with the Russian side have not achieved required results while Russian...

• APAC stocks began the month mostly on the front foot with the region digesting encouraging Chinese PMI data
• European equity futures are indicative of a lower open with the Euro Stoxx 50 future -1.0% after the cash market closed lower by 1.2% yesterday
• DXY is marginally firmer but sub-97.00, AUD steady after the RBA maintained rates and its dovish tone
• US State Department said the US is prepared to walk away from Iran nuclear talks...

• G7 leaders declared they will remove selected Russian banks from the interbank SWIFT system
• Russian President Putin ordered to place Russia's nuclear deterrent forces on high alert citing aggressive statements by NATO leaders
• Negotiations have commenced between Ukrainian and Russian officials at the Belarus border.
• European bourses & US futures are pressured, but off worst levels, following weekend sanctions as negotiations commence;...

• MON: Chinese Official PMI (Feb)
• TUE: RBA Policy Announcement, Norges Bank Watch, India Maha Shivrati; Chinese NBS & Composite PMIs (Feb), EZ, UK & US Final Manufacturing PMI (Feb), German Retail Sales (Jan), CPI Prelim. (Feb), US ISM Manufacturing PMI (Feb)
• WED: OPEC Meeting, BoC Policy Announcement; German Unemployment (Feb), EZ Flash CPI (Feb), US ADP (Feb), Australian Composite/Services Final PMIs (Feb)
• THU: ECB Minutes...

• Russian President Putin ordered to place Russia's nuclear deterrent forces on high alert citing aggressive statements by NATO leaders and economic sanctions
• G7 leaders declared they will remove selected Russian banks from the interbank SWIFT system; the EU said some Russian central bank assets will be frozen
• Russian Central Bank said it releases a capital buffer while it ordered market players to reject foreign clients' bids to sell Russian...

• European bourses are firmer and back in proximity to initial best levels after losing traction shortly after the cash open, Euro Stoxx 50 +1.3%; FTSE 100 +1.9% outperforms amid Basic Resources strength.
• US futures are lower across the board, ES -0.9%, after yesterday's significant intra-day reversal to close positive; albeit, action has been rangebound within the European morning.
• Europe is preparing additional Russian sanctions, US says they have room for further...

• Ukrainian Foreign Minister Kuleba confirmed Russian rockets have been fired at Kyiv
• US President Biden authorised new sanctions including on Russian exports
• US stocks were able to close higher with the NQ (+3.4%) outperforming peers; US futures traded on a slightly softer footing overnight
• European equity futures are indicative of a higher open with the Euro Stoxx 50 future +2.1% after the cash market closed lower by 3.6%...

24th February 2022

SNAPSHOT

LOOKING AHEAD

• Looking ahead, highlights include US GDP (2nd Estimate), PCE Prices Prelim, Initial Jobless Claims, Banxico Minutes, Speeches from Fed's Bostic, Daly, Mester, ECB's Schnabel, BoE's Bailey & Broadbent
• Earnings from Alibaba, Moderna, Norwegian Cruise Line, Occidental Petroleum
• Click