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Newsquawk

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Original insights into market moving news

Europe Market Open: APAC stocks mixed, DXY a little firmer ahead of US Retail Sales

17 Dec 2024, 06:45 by Newsquawk Desk

  • APAC stocks eventually traded mixed after the region initially showed a positive bias, taking cues from Wall Street, and in the absence of macro newsflow with looming risk events.
  • DXY fluctuated in a narrow range whilst USD/JPY was choppy on either side of 154.00 and Antipodeans were subdued.
  • China is to maintain a growth target of "around 5%" for 2025, according to Reuters sources. China is to target a budget deficit of 4% in 2025 (vs 3%...
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US Market Open: Tepid risk tone weighs on European indices, DXY flat ahead of US PMIs

16 Dec 2024, 11:08 by Newsquawk Desk

  • European bourses are mostly lower; US futures are modestly in the green.
  • DXY is flat, and GBP strengthens post-PMI while the JPY lags a touch.
  • EGBs softer with OATs underperforming slightly post-Moody's downgrade, PMIs in focus.
  • Crude slips amid a tepid risk tone, metals largely contained.
  • Looking ahead, US Flash PMIs, ECB's Schnabel and BoC’s Macklem.
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Europe Market Open: APAC stocks lower, EUR unfazed after Moody's downgrades France ahead of EZ PMIs

16 Dec 2024, 06:50 by Newsquawk Desk

  • APAC stocks saw an uninspiring start to the week following the mixed session on Wall Street on Friday and ahead of this week's risk events including the final FOMC, BoJ, and BoE meetings of the year.
  • Moody's cut France’s rating to "Aa3" from "Aa2", outlook stable, in an unscheduled rating revision, citing political fragmentation.
  • South Korean MPs have successfully voted to impeach President Yoon in their second attempt. Yoon was suspended from official duties on...
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Newsquawk Week Ahead - 16-20th Dec: Highlights include FOMC, BoJ, BoE, PBoC LPR, PMI data, US PCE and Retail Sales

13 Dec 2024, 14:06 by Newsquawk Desk

  • MON: Chinese Industrial Output, Retail Sales & House Prices (Nov), German WPI (Nov), EZ Wages (Q3),EZ, UK & US Flash PMIs (Dec), NY Fed Manufacturing (Dec)
  • TUE: UK Unemployment Rate (Oct), German Ifo (Dec), EZ Trade Balance (Oct),German ZEW (Dec), US Retail Sales (Nov), Industrial Production (Nov), Canadian CPI (Nov), Japanese Trade Balance (Nov)
  • WED: FOMC Policy Announcement; UK CPI (Nov), EZ Final HICP (Nov), US Building Permits & Housing...
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US Market Open: Risk sentiment improves with havens on the backfoot, DXY around 107.00

13 Dec 2024, 11:22 by Newsquawk Desk

  • European bourses and US futures are generally firmer with specifics light, diverging from soft APAC trade; AVGO +15%.
  • DXY trades around 107.00, GBP hit by soft GDP, JPY lags.
  • Fixed benchmarks in the red post-ECB and ahead of a blockbuster week.
  • Commodities contained, focus remains on geopols after Russian strikes on Ukrainian infrastructure and Blinken comments.
  • Looking ahead, US Import/Export Prices, and Baker...
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Europe Market Open: APAC stocks traded lower as sentiment was hit following the Chinese Economic Work Conference

13 Dec 2024, 06:50 by Newsquawk Desk

  • APAC stocks traded lower across the board following a similar session on Wall Street, whilst sentiment was also hit after the Chinese Economic Work Conference
  • ES and NQ traded with gains overnight as SPX and NDX constituent Broadcom (AVGO) surged 14% post-earnings
  • DXY held an upward bias and extended on gains after the incursion into 107.00 territory in late US trade; USD/JPY rose above 153.00
  • European equity futures are indicative of a...
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US Market Open: SNB surprise with a 50bps cut, Euro steady ahead of ECB

12 Dec 2024, 11:35 by Newsquawk Desk

  • European bourses are mixed into the ECB, SMI outperforms post-SNB. US futures are modestly softer.
  • SNB delivered a larger-than-expected 50bps cut and reiterated a willingness to intervene in the FX market as necessary.
  • USD steady with peers and for the most part contained aside from CHF underperformance and Antipodean outperformance, AUD driven by jobs data.
  • Fixed benchmarks are at/towards session lows into the ECB and US data thereafter,...
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Europe Market Open: APAC stocks trade higher, European futures flat ahead of the ECB

12 Dec 2024, 06:55 by Newsquawk Desk

  • APAC stocks eventually mimicked the sentiment on Wall Street and traded mostly higher following a slow start to the session and despite a lack of macro news flow.
  • DXY was flat whilst JPY saw mild strength and AUD was boosted by a strong Aussie jobs report after a dovish RBA.
  • US President-elect Trump has invited Chinese President Xi to attend his inauguration next month; it was not clear whether Xi has accepted the invitation, according to CBS...
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US Market Open: DXY bid on reports that China is considering allowing the Yuan to weaken in 2025; US CPI due

11 Dec 2024, 11:08 by Newsquawk Desk

  • European bourses began the session entirely in the red, but sentiment has improved to display a mixed picture; NQ incrementally outperforms in the US.
  • Dollar bid as markets digest reports of China allowing a weaker yuan, JPY choppy amid BoJ sources.
  • China's top policymakers are considering allowing the Yuan to weaken in 2025 as Trump tariff looms, via Reuters citing sources
  • Mixed performance for paper, US 10yr supply...
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Europe Market Open: Mixed trade in APAC as participants bide time ahead of US CPI

11 Dec 2024, 06:45 by Newsquawk Desk

  • APAC stocks traded mixed following a soft US handover, although Chinese markets continued to benefit from the easing in China's overall monetary policy stance.
  • DXY and UST futures were flat within a tight range as traders look towards the US CPI release ahead of next week's FOMC meeting.
  • Crude futures were firmer in a continuation of the China optimism; upside was experienced following reports that the US is weighing harsher oil sanctions against Russia weeks before...
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US Market Open: European equities tilt lower, USD gains & AUD lags after RBA's dovish hold

10 Dec 2024, 11:03 by Newsquawk Desk

  • European bourses are mostly on the backfoot; US futures trade indecisively around the unchanged mark.
  • USD outmuscles peers, AUD lags after the RBA delivered a dovish hold.
  • Choppy trade for European paper, US awaits 3yr supply.
  • Crude edges slightly lower and base metals pare back recent strength.
  • Looking ahead, US Unit Labor Costs Revision, EIA STEO, Supply from US.
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Europe Market Open: APAC stocks mostly higher after China's Politburo, RBA delivers a dovish hold

10 Dec 2024, 06:40 by Newsquawk Desk

  • APAC stocks were mostly firmer following a negative Wall Street lead but with APAC players reacting to China easing its overall monetary policy stance.
  • G10 FX was mostly flat, whilst the AUD was hit on a dovish hold by the RBA, Yuan saw gains.
  • RBA maintained its cash rate at 4.35% as expected and suggested the Board is gaining some confidence that inflation is moving sustainably towards target.
  • European equity futures are indicative of a...
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US Market Open: China’s Politburo sparks risk-on sentiment, but gains in equities have faded

09 Dec 2024, 11:01 by Newsquawk Desk

  • European bourses initially gained, taking impetus from positive commentary via the Chinese Politburo; upside which has since faded. US equity futures are mixed.
  • China's Politburo says next year must seek progress while maintaining stability; China's fiscal policy to be more proactive next year. Monetary policy is to be moderately loose, via Xinhua.
  • Dollar is at incremental session lows; Antipodeans benefit from the positive sentiment, whilst havens...
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Europe Market Open: APAC mostly subdued on Middle East and South Korean uncertainty

09 Dec 2024, 06:58 by Newsquawk Desk

  • APAC stocks were mixed for a bulk of the session before eventually trading mostly lower, with South Korean stocks underperforming amid more political angst.
  • US President-elect Trump said he cannot guarantee Americans will not pay more as a result of tariffs, according to NBC's Meet the Press.
  • Syrian rebel fighters captured the capital Damascus and toppled Bashar al-Assad's regime; Israeli ground forces advanced beyond the demilitarized zone on the Israel-Syria...
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Newsquawk Week Ahead: Highlights include: US and China inflation, rate decisions from ECB, RBA, BoC, SNB

06 Dec 2024, 15:18 by Newsquawk Desk

  • MON: Eurogroup Meeting; Chinese CPI & PPI (Nov), EZ Sentix (Dec), US Employment Trends (Nov)
  • TUE: RBA Policy Announcement, EIA STEO; German Final CPI (Nov), Norwegian CPI (Nov), US NFIB (Nov), Chinese Trade Balance (Nov), Chinese Central Economic Work Conference
  • WED: BoC & BCB Policy Announcement, OPEC MOMR; South African CPI (Nov), US CPI (Nov)
  • THU: ECB & SNB Policy Announcements, Norges Bank Regional Network, IEA OMR;...
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US Market Open: Stocks steady ahead of upcoming US jobs print

06 Dec 2024, 11:10 by Newsquawk Desk

  • European stocks are mixed and US futures trade sideways amidst a lack of fresh pertinent catalysts in the run-up to the US jobs report.
  • USD is a touch firmer vs. most peers in the run-up to today's NFP print, EUR's rally vs. the USD has paused for breath, JPY and Antipodeans are softer.
  • USTs are a touch lower following yesterday's flattening of the curve. Fresh macro drivers for the US are on the light side in the run-up to today's NFP...
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Europe Market Open: APAC traded mixed with cautiousness ahead of US jobs data

06 Dec 2024, 07:00 by Newsquawk Desk

  • APAC stocks were mixed with some cautiousness in the region after the weak lead from Wall St and ahead of the key US jobs data.
  • European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.3% after the cash market closed higher by 0.7% on Thursday.
  • DXY is a touch firmer but still on a 105 handle, antipodeans marginally lag, USD/JPY lingers around 150.
  • Bunds have nursed some of the prior day's declines,...
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US Market Open: Bitcoin pushes past 100k & USD remains on the backfoot

05 Dec 2024, 12:05 by Newsquawk Desk

  • European bourses opened flat but started grinding higher shortly after the open despite relatively quiet newsflow; France's CAC 40 shrugged off the vote of no confidence which played out as expected.
  • USD remains on the backfoot vs. peers following yesterday's ISM-induced move in yields; EUR on a firmer footing vs. the USD with not much in the way of follow-through selling from the collapse of the French government.
  • Crude futures holding a modest upward bias after...
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Europe Market Open: French PM Barnier loses confidence vote, Bitcoin climbs past $100,000 following SEC nomination

05 Dec 2024, 06:55 by Newsquawk Desk

  • APAC stocks traded mixed and partially sustained the momentum from the fresh record levels on Wall St where tech led the advances; European equity futures are indicative of a flat/subdued cash open.
  • Fed Chair Powell said they are on a path to more neutral rates over time and though downside risks are less than thought, the Fed can afford to be cautious in finding neutral.
  • French government lost a no-confidence motion as lawmakers voted 331 out of 574 current members...
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US Market Open: US futures tilt higher ahead of Powell & European paper awaits French no confidence vote

04 Dec 2024, 11:40 by Newsquawk Desk

  • European bourses are mostly trading in positive territory; US futures tilt higher ahead of Powell and a busy data slate.
  • USD is broadly firmer vs. peers, AUD lags post-GDP, and GBP was weighed on by commentary from BoE’s Bailey who said he sees four 25bps cuts in 2025; a move which has since pared.
  • European paper awaits French no confidence vote at 15:00 GMT.
  • Crude holds an upward bias, WSJ reports that Saudi aims to keep oil prices elevated...
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Europe Market Open: APAC stocks subdued, South Korea underperformed after the martial law declaration and backtrack

04 Dec 2024, 07:06 by Newsquawk Desk

  • APAC stocks were mostly subdued with underperformance in South Korea following the martial law declaration and backtrack.
  • South Korean President Yoon announced on Tuesday the lifting of martial law after parliament voted to block it.
  • European equity futures are indicative of a quiet cash open with the Euro Stoxx 50 future flat after the cash market closed higher by 0.7% on Tuesday.
  • USD is mixed vs. peers, AUD lags post-Australian GDP data,...
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Europe Market Open: APAC stocks subdued, South Korea underperformed after the martial law declaration and backtrack

04 Dec 2024, 07:05 by Newsquawk Desk

The Newsquawk Europe Market Open, available on Capital.com  

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US Market Open: US yield curve steepens and Dollar is broadly softer ahead of JOLTS and Fed speak, OATs await Wednesday's confidence vote

03 Dec 2024, 11:35 by Newsquawk Desk

  • European bourses are entirely in the green; US futures are essentially flat ahead of US JOLTS and Fed speak.
  • USD is broadly softer vs. peers, EUR/USD reclaims 1.05.
  • US yield curve steepens ahead of JOLTS, OATs await Wednesday's confidence vote
  • Crude climbs higher, base metals benefit from the risk tone and softer USD.
  • Looking ahead, US JOLTS, Speakers including Fed’s Goolsbee, Daly, Kugler.
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Europe Market Open: APAC stocks mostly green as the region took impetus from the fresh record highs in the S&P 500 and Nasdaq

03 Dec 2024, 06:48 by Newsquawk Desk

  • APAC stocks were mostly positive as the region took impetus from the fresh record highs in the S&P 500 and the Nasdaq.
  • Fed's Waller said he leans toward supporting a cut in December, Bostic said December decision is not preordained.
  • European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed higher by 0.9% on Monday.
  • DXY is net higher with the USD showing differing...
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US Market Open: USD bid amid further tariff threats ahead of ISM Manufacturing, OATs in focus as the French gov't awaits Le Pen's decision

02 Dec 2024, 11:28 by Newsquawk Desk

  • European bourses began the session in negative territory, but sentiment quickly improved to show a mostly positive picture in Europe; US futures modestly lower.
  • Dollar is propped up by further Trump tariff threats, EUR dragged by political uncertainty and tests 1.05 to the downside.
  • OATs in focus as the French gov't awaits Le Pen's decision; USTs are slightly lower ahead of US ISM Manufacturing PMIs.
  • WTI & Brent are on a firmer footing...
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