12 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were subdued in holiday-thinned trade and following a mixed lead from Wall Street
- In FX, the DXY attempted to recoup some lost ground, EUR/USD maintains 1.21 status, GBP/USD retreated below 1.38
- WTI crude futures retreated beneath USD 58.00/bbl and snapped an 8-day winning streak. Gold flat
- Italy 5SM members voted to support a Draghi government
- Looking ahead, highlights include UK GDP, Uni. of...
11 Feb 2021, 12:00 by Newsquawk Desk
- European bourses trade mixed as earnings take focus in the absence of fresh catalysts post-Powell
- US President Biden and Chinese President Xi spoke for the first time since Biden came into office
- US senior administration official said the US will examine new targeted restrictions on sensitive tech exports to China and will not act hastily to remove China tariffs
- European Commission forecasts the EU economy to reach the pre-crisis level of...
11 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac lacked firm direction as risk appetite was sapped by holiday closures for many key markets in the region and following an uninspired handover from the US
- Fed Chair Powell reiterated recent rhetoric and highlighted the labour market is a long-way from 'strong'; emphasising that we will probably see an increase in inflation readings that won't mean much
- President Biden and China's Xi spoke for the first time since Biden came into...
10 Feb 2021, 12:00 by Newsquawk Desk
- European bourses are contained with a slight positive bias while US futures post gains of circa 0.3%; earnings remain in focus but US CPI and Chair Powell dominate the schedule ahead
- The session has been devoid of fresh macro drivers with mass APAC closures commencing from tomorrow
- Chinese CPI and PPI missed estimates although still showed the first increase to producer prices in a year
- The DXY remains under pressure but saw some brief...
10 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity indices mostly traded with cautious gains as participants digested a heavy slate of corporate earnings
- Overnight saw a lack of fresh macro drivers ahead of mass holiday closures beginning tomorrow
- Chinese CPI and PPI missed estimates although still showed the first increase to producer prices in a year
- In FX, the DXY remained subdued below 90.50, EUR/USD maintains 1.21 status and GBP/USD trades on a 1.38...
09 Feb 2021, 11:50 by Newsquawk Desk
- European indices remain subdued (Euro Stoxx 50 -0.3%) differing somewhat from the APAC handover; energy was the initial outperformer given updates from Total and the broader crude complex, albeit this has experienced a recent pull-back
- Details of the US COVID stimulus plan revealed an extension of unemployment insurance to August 29th, as well as provide USD 1,400 checks at the same income level as prior rounds
- However, payments will start shrinking when income...
09 Feb 2021, 06:54 by Newsquawk Desk
- Asian equities were mostly positive after the stimulus-driven momentum on Wall St. which lifted all major US indices to fresh unprecedented levels
- In FX, the DXY extended its move below 91.00, EUR/USD ventured further above 1.2000 and GBP/USD traded at its best levels since 2018
- Details of the US COVID stimulus plan revealed an extension of unemployment insurance to August 29th, as well as provide USD 1,400 checks at the same income level as prior...
08 Feb 2021, 11:57 by Newsquawk Desk
- Equity futures remain in positive-territory, ES +0.3%, but off highs after a mixed/firmer APAC handover with focus on COVID-19 developments and the reflation narrative
- According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
- Treasury Secretary Yellen leaned back against concerns about stoking inflation pressures, arguing that the benefits...
08 Feb 2021, 09:00 by Newsquawk Desk
- SUN: Japanese GDP
- MON: Eurogroup meeting; US Holiday Washington's Birthday
- TUE: RBA Minutes (Feb); German ZEW Sentiment (Feb); EZ GDP Flash Estimate (Q4) and Employment Flash (Q4); Japanese Trade Balance (Jan)
- WED: FOMC Minutes (Jan); UK Inflation (Jan); US Retail Sales (Jan) and Industrial Production (Jan); Canadian CPI (Jan)
- THU: ECB Minutes (Jan); CBRT Policy Announcement; Australian Labour Market Report (Jan); EZ...
08 Feb 2021, 09:00 by Newsquawk Desk
- MON: EZ Sentix Index (Feb)
- TUE: EIA STEO
- WED: Riksbank Policy Announcement; Banxico Policy Announcement; Chinese Inflation (Jan); US CPI (Jan); Norwegian CPI (Jan); US CPI (Jan)
- THU: CBR Policy Announcement; US University of Sentiment Prelim (Feb); OPEC Oil Market Report; Japanese National Day Holiday, Chinese Spring Festival, South Korea's New Year's Day
- FRI: UK GDP Estimate (Dec) and Prelim GDP (Q4); Hong...
08 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mostly higher and US equity futures resumed last Friday’s advances on Wall St
- According to a study (due to be published today), the AstraZeneca COVID vaccine does not appear to offer protection against mild and moderate disease caused by the South Africa variant
- In FX, the DXY held on to 91.00 status, EUR/USD and GBP/USD trade on 1.20 and 1.37 handles respectively
- Senate voted to pass budget measures and fast-track...
05 Feb 2021, 11:50 by Newsquawk Desk
- European bourses have largely consolidated since the cash open (Euro Stoxx 50 +0.4%) with US futures posting similar gains aside from the outperforming Russell 2000 +0.4%
- US Senate has now formally passed the budget measures to adopt the fast-track Biden stimulus plan; VP Harris cast the tie-break vote
- USD remains under pressure but is off-lows with broader peers only eeking modest gains against the Buck
- Looking ahead, highlights include US...
05 Feb 2021, 06:54 by Newsquawk Desk
- Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall St
- RBI kept rates unchanged as expected and retained an accommodative stance, which it will keep for as long as necessary
- In FX, the DXY has maintained yesterday's gains around 91.50, EUR/USD remains sub-1.20 and GBP held onto BoE gains
- Italy's PD Senate Chief expects Draghi has an 80-90% chance of forming a...
04 Feb 2021, 11:45 by Newsquawk Desk
- European equities trade mostly firmer (Eurostoxx 50 +0.3%) in what has been a busy morning of corporate updates across the region
- In FX, the DXY is once again firmer vs. peers as EUR/USD loses 1.20 status for the first time this year. GBP eyes BoE
- Fixed income remains rangebound with Gilts focused on NIRP developments from the BoE and the Periphery on Draghi's deliberations
- Looking ahead, highlights include BoE rate decision & MPR, US...
04 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets were mostly lower following a flat lead from the US where focus centred on earnings and stimulus plans
- 5SM's Di Maio said Italy needs an alternative to a Draghi government, while the Brothers of Italy party Chief favours abstaining
- In FX, the DXY extended on gains above 91.00, EUR/USD remains in the low 1.20's and GBP/USD hovers around 1.36
- President Biden is open to having the discussion on the income level of Americans...
03 Feb 2021, 12:18 by Newsquawk Desk
- European indices began the session on the front-foot, before consolidating off highs, Euro Stoxx 50 +0.7%, ES +0.4%; while the FTSE MIB & BTPs outperform on Draghi's potential Italian mandate
- Tech giants Google and Amazon saw earnings beat on top and bottom lines; with Google outperforming in the pre-market +7.0%
- President Biden Advisor speculates the final stimulus size could be USD 1.3trln, Politico
- The mornings UK/EZ PMIs saw modest...
03 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly higher as the region took impetus from global peers including the advances on Wall St
- Tech giants Google and Amazon saw earnings beat on top and bottom lines
- Oxford/AstraZeneca vaccine shows sustained protection of 76% during 3m interval until 2nd dose
- Talks over forming a new coalition in Italy have broken down, former ECB President Draghi could be appointed as a replacement PM
- In...
02 Feb 2021, 12:11 by Newsquawk Desk
- European indices are firmer following the positive APAC handover; sectors are broadly in the green though oil & gas is among the laggards as BP's update offsets much of the positivity from crude benchmarks themselves
- China top diplomat Yang said they are prepared to work with the US; separately, US Treasury Secretary Yellen is to meet with Democrats today on aid
- The DXY continues to make ground above 91.00 this morning pressuring major counterparts but...
02 Feb 2021, 06:54 by Newsquawk Desk
- Asian equity markets advanced after the firm handover from Wall St with the resurgence led by the tech sector
- In FX markets, the DXY marginally pulled back after advancing above 91.00, EUR/USD and GBP/USD remain below 1.21 and 1.37 respectively
- Talks aimed at reviving Italy's collapsed ruling coalition were blocked on Monday over policy issues
- RBA maintained its key rate at 0.10% as expected but unexpectedly announced it is to extend its QE...
01 Feb 2021, 12:01 by Newsquawk Desk
- European indices began the session on the front-foot, Euro Stoxx 50 +1.3%, ES +1.0%, with sectors predominantly positive and basic resources shining following silver's outperformance
- Chinese official manufacturing, non-manufacturing and Caixin manufacturing PMI data all fell short of estimates but remained in expansion territory; somewhat hindered mainland performance
- A group of 10 Republican senators called for President Biden to consider a smaller COVID-19 relief...
01 Feb 2021, 09:00 by Newsquawk Desk
- SUN: Chinese Official PMIs (Jan)
- MON: Chinese Caixin Manufacturing PMI Final (Jan); EZ, UK and US Manufacturing PMI Final (Jan); US ISM Manufacturing PMI (Jan).
- TUE: RBA Policy Announcement; EZ Flash GDP (Q4); US ISM New York (Jan); New Zealand Labour Market Data (Q4).
- WED: Chinese Caixin Services PMI Final (Jan); EZ, UK and US Services/Composite PMI Final (Jan); EZ Flash CPI (Jan) US ISM Services PMI (Jan); ADP National Employment (Jan);...
01 Feb 2021, 06:54 by Newsquawk Desk
- A positive tone was observed in the Asia-Pac region and US equity futures recovered from the early stumble seen at the reopen
- Chinese official manufacturing, non-manufacturing and Caixin manufacturing PMI data all fell short of estimates but remained in expansion territory
- In FX markets, the DXY heads into the EU open softer, EUR/USD rangebound on a 1.21 handle, GBP/USD extended gains above 1.3700
- Gold gapped higher in tandem with the 7%...
29 Jan 2021, 12:00 by Newsquawk Desk
- Indices have been under pressure in a continuation of the APAC deterioration; however, both European bourses and US futures are well off lows, Euro Stoxx 50 -0.7% & ES -0.5%
- Novavax (NVAX) vaccine was 89% effective against COVID-19, according to a UK study; however, efficacy was 60% in a South African Trial
- ECB rate reduction discussion has been marginal in policy talks, according to sources; benefits seen as limited; downplayed Euro...
29 Jan 2021, 06:54 by Newsquawk Desk
- Asian equity markets steadily deteriorated as the initial emboldenment from the rebound on Wall St gradually faded
- Novavax vaccine was 89% effective against COVID-19, according to a UK study. However, efficacy was 60% in a South African Trial
- In FX, the DXY recouped some lost ground overnight, EUR/USD hovers around 1.21, GBP/USD trades near the 1.37 mark
- US Senate panel is to hold a hearing on the current state of the stock market in wake of...
28 Jan 2021, 12:10 by Newsquawk Desk
- Equity indices were pressured from the European cash open in a continuation of APAC performance; subsequently, this downside intensified though we are currently well off lows - Euro Stoxx 50 -0.3%, ES -0.1%
- Apple -3%, Facebook -1% & Tesla -6% all reported after the close with pressure attributed to the lack of/vague guidance from Apple; as such, the NQ -0.7% is the morning's underperformer
- ECB’s Rehn says policy tools can be adjusted if required; inflation...