12 Oct 2020, 06:54 by Newsquawk Desk
- APAC equity markets kicked the week off mixed; Chinese markets outperformed, Nikkei lagged
- PBoC lowered its RRR on FX forwards for financial institutions to 0% from 20% starting today
- US House Speaker Pelosi said we remain at an impasse in COVID-19 aid talks; Trump admin has called on Congress to pass a stripped-down version of the relief bill
- EU leaders are said to be drawing up a “hit list” of up to 20 large-cap tech companies; EU has asked US to withdraw punitive tariffs or prepare for additional...
09 Oct 2020, 11:43 by Newsquawk Desk
- US futures are firmer given overnight stimulus comments and deriving further strength as US participants approach
- Speaker Pelosi & Treasury Secretary Mnuchin spoke again while Trump is reportedly open to more than a skinny bill
- President was concerned by the market reaction to him walking away from stimulus discussions
- UK Chancellor Sunak to announce a new job-support scheme; separately, EU diplomats believe Brexit talks are yet to make enough progress
- FX features a downbeat DXY at fresh...
09 Oct 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed but with a mildly positive bias as US equity futures extended on the prior day’s gains
- President Trump noted optimism that stimulus talks are beginning to work and was said to be open to something larger than a skinny bill
- President Trump was said to be worried about the stock market reaction from the decision to walk away from stimulus
- In FX, the DXY was lacklustre below 93.50, EUR/USD trades firmer and GBP/USD sits above 1.2950
- RBI maintained the...
08 Oct 2020, 11:47 by Newsquawk Desk
- European bourses & US futures are firmer in choppy trade amidst limited new fundamental catalysts
- US Vice Presidential debate saw Harris & Pence exchange blows in an attempt to discredit the records of both Presidential candidates; CNN poll shows Harris winning the debate
- FX is relatively rangebound with a choppy DXY meandering the U/C mark at present as antipodeans outperform
- In terms of fixed income, USTs are exhibiting mild flattening in contrast to the steepening action seen throughout...
08 Oct 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly positive as the region took its cue from the rebound in the US
- FOMC minutes provided little in the way of fresh information with no greater clarity on how far the Fed would permit inflation to overshoot its target
- In FX markets, the DXY is modestly softer, but above 93.50, EUR/USD is little changed and GBP/USD extended gains above 1.2900
- The US Vice Presidential debate saw Harris and Pence exchange blows in...
07 Oct 2020, 11:48 by Newsquawk Desk
- European bourses are modestly softer while US futures recuperate after Trump’s stimulus update yesterday
- Trump says he is ready to immediately sign a standalone stimulus check bill
- US House Democrats stated that Facebook (FB), Amazon (AMZN), Alphabet (GOOG), Apple (AAPL) enjoy ‘monopoly power’ and recommended big changes
- FX features a downbeat DXY to the modest benefit of peers (ex-safe havens)
- Treasuries have reverted back to the week’s steepening narrative ahead of 10-year issuance and...
07 Oct 2020, 06:54 by Newsquawk Desk
- Asian equities traded mixed as the region partially shrugged off the negative mood which initially rolled over from Wall St
- US stocks slumped after US President Trump announced that he is to walk away from COVID relief talks until after the election
- US President Trump instructed Senate Majority Leader McConnell not to delay and focus full-time on approving Amy Coney Barrett to the Supreme Court
- In FX markets, the DXY remained elevated...
06 Oct 2020, 11:45 by Newsquawk Desk
- European bourses & US futures are modestly softer in a rangebound session featuring little fundamental updates
- US President Trump has returned to the White House stating he feels great and vaccines are coming momentarily; reportedly planning to partake in the next debate
- Biontech (BNTX) and Pfizer (PFE) have initiated a rolling submission to the EMA for their COVID-19 vaccine candidate
- FX features a contained USD with peers little changed aside from a softer AUD while the US yield curve is a...
06 Oct 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded positively following the firm handover from global peers as markets track stimulus developments and US President Trump’s health
- US President Trump has left the Walter Reed Medical Centre and returned to the White House
- US President Trump is planning to participate in the next Presidential Debate scheduled for October 15th, according to CNN
- White House Chief of Staff Meadows noted there is potential for a stimulus...
05 Oct 2020, 11:40 by Newsquawk Desk
- US futures are firmer but off session highs amidst relatively quiet newsflow with focus on updates from the President
- US President Trump’s condition continued to improve and he may be discharged from the hospital as early as Monday, according to his medical team
- The latest election polls showed a widening lead for former VP Biden following last week’s presidential debate
- US House Speaker Pelosi & Senate Majority Leader McConnel were...
05 Oct 2020, 09:30 by Newsquawk Desk
- MON: EZ, UK and US Services and Composite PMI Final (Sep); EZ Sentix (Oct); US ISM Non-Manufacturing PMI (Sep); Eurogroup Meeting; RBI Policy Decision (TBC)
- TUE: RBA Monetary Policy Decision and Australian budget; EIA STEO
- WED: US Vice Presidential Debate; FOMC Minutes (Sep); China Golden Week Holiday Ends
- THU: ECB Minutes (Sep); Norwegian GDP...
05 Oct 2020, 06:54 by Newsquawk Desk
- US President Trump’s condition continued to improve and he may be discharged from the hospital as early as Monday, according to his medical team
- Asian equity markets and US equity futures began the week with a constructive tone as the regional bourses reopened from recent holiday closures
- The latest election polls showed a widening lead for former VP Biden following last week’s presidential debate
- The DXY was softer amid the positive risk tone, providing some support to its major counterparts...
02 Oct 2020, 11:55 by Newsquawk Desk
- President Trump tested positive for COVID-19; announcement sparked a risk-off move featuring ES dropping to current session lows in proximity to -2.0%
- Sentiment remains largely driven on POTUS’ update with DXY firmer but now just back below 94.00 and UST’s firmer with the curve bear-flattening
- US House passed the Democratic stimulus plan which Republicans oppose; passed after Speaker Pelosi announce no bipartisan deal was achieved last night
- EU Commission President & UK PM are to hold a...
02 Oct 2020, 06:55 by Newsquawk Desk
- Asian equity markets trade lower and the E-mini S&P is showing losses in excess of 1% after US President Trump tested positive for COVID-19
- In FX markets, the USD subsequently saw strength with the DXY moving back towards 94.00, pulling EUR/USD nearer to 1.1700
- EU leaders reached an agreement regarding Belarus in which they will impose sanctions on the nation for violence and its election process
- The US House voted in favour of the USD 2.2trl Democrat stimulus plan after House Speaker Pelosi...
01 Oct 2020, 11:42 by Newsquawk Desk
- European bourses are modestly firmer as the cautiously positive US fiscal narrative remains; US futures are firmer by ~1.0%
- President Trump signed the stopgap funding bill after it progressed through the Senate to avert a Gov’t shutdown
- US House delayed a vote on the USD 2.2tln coronavirus relief bill to Thursday to provide more time for talks with the White House
- US Treasury Secretary Mnuchin's COVID proposal to House Speaker Pelosi on Wednesday was valued at USD 1.62tln
- Fed is to extend...
01 Oct 2020, 06:54 by Newsquawk Desk
- Asia-Pac markets were quiet, owing to the closures in key bourses across the region, while trade in Japan was mired by system issues for the Tokyo Stock Exchange
- However, the mood was still positive as US equity futures extended on recent gains
- House Democrats were forced to postpone the vote on their USD 2.2tln bill to Thursday to allow more time for talks with the White House
- US Treasury Secretary Mnuchin's COVID proposal to House Speaker Pelosi on Wednesday was valued at USD...
30 Sep 2020, 11:50 by Newsquawk Desk
- European bourses are downbeat following a mixed-lower APAC session dominated by the US debate; Stateside, futures are similarly subdued
- The Presidential debate descended into chaos and snap-polls/implied odds marginally extended the Democratic lead
- China is preparing to launch an antitrust probe into Alphabet's (GOOG) Google, according to sources, in relation to market dominance
- Seven EU member states have opposed the draft rule of law reports; Council has opened the mandate for its debate in...
30 Sep 2020, 06:55 by Newsquawk Desk
- Asian equity markets were mixed with participants indecisive as focus centred on the Presidential Debate
- Initial gains in US equity futures were pared as the debate descended into chaos and Trump suggested that a contested election could last for months
- The UK House of Commons approved the Internal Market bill as expected with a majority of 84 to send it to House of Lords
- A German EU Presidency spokesperson remarked that “a delay of the EU budget and the recovery fund is becoming increasingly...
29 Sep 2020, 11:40 by Newsquawk Desk
- European bourses are subdued in a reversal of yesterday’s action which features banking names at the bottom of the pile
- US House Speaker Pelosi announced that the Democrats unveiled an updated coronavirus relief legislation, a USD 2.2tln bill
- EU said it is prepared to begin writing a joint legal text of a trade agreement with UK, according to The Times
- FX features a downbeat USD to the benefit of G10 peers aside from the JPY which is drifting from notable expiries
- Looking ahead, highlights...
29 Sep 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly higher, although the region struggled to make the most of the firm tailwinds from Wall St
- Major US indices notched respectable gains, led by cyclicals and amid month and quarter-end flows
- Brussels has reportedly dropped its demands for a broad agreement with the UK on all outstanding issues before drafting a Brexit agreement, according to the Times
- In FX markets, the DXY remained lacklustre above 94.00, EUR/USD was steady around recent levels and GBP retained 1.28...
28 Sep 2020, 11:53 by Newsquawk Desk
- European bourses are substantially stronger this morning with Banks the best performing sector; stateside, futures see gains in excess of 1.0%
- A US judge granted a preliminary injunction which blocks US President Trump's ban on new TikTok downloads from US app stores
- US President Trump picked Amy Coney Barrett for nomination to the Supreme Court and suggested that confirmation hearings on her nomination will begin October 12th
- House Speaker Pelosi thinks a coronavirus stimulus deal is still possible...
28 Sep 2020, 09:30 by Newsquawk Desk
- MON: N/A
- TUE: US 2020 Election Debate; German Flash CPI (Sep); EZ Sentiment Survey (Sep); US Advanced Goods Trade Balance (Aug)
- WED: Chinese Official Manufacturing PMI (Sep) and Caixin Manufacturing Final PMI (Sep); UK GDP (Q2); German Retail Sales (Aug) and Unemployment (Sep); EZ Flash CPI (Sep); US ADP National Employment (Sep); GDP Final (Q2); Canadian GDP (Jul); US Chicago PMI (Aug); SNB Quarterly Bulletin (Q3)
- THU: RBI Monetary...
28 Sep 2020, 06:54 by Newsquawk Desk
- Asian stocks began the week mostly higher as the region picked up the baton from last Friday’s tech-driven momentum on Wall Street
- A US judge granted a preliminary injunction which blocks US President Trump's ban on new TikTok downloads from US app stores
- UK Ministers are reportedly preparing to impose total social lockdown across much of Northern Britain and possibly London
- BoE’s Tenreyro said we have been testing our toolkit and the evidence on negative rates has been encouraging
- In FX...
25 Sep 2020, 11:54 by Newsquawk Desk
- European equities have drifted lower following a mixed cash open; Euro Stoxx 50 -1.2%
- US equity futures see less pronounced losses of around 0.4% in the ES, NQ and YM Dec contracts
- EU Commission is to appeal the quashing of Apple’s order to repay USD 14.3bln in tax advantages
- UK & EU Brexit negotiators were reportedly able to lay the foundation for next week’s negotiations; but, subsequent reports have been more downbeat
- In FX, DXY has reclaimed 94.50+ status, GBP/USD eyes 1.2700 to the...
25 Sep 2020, 06:54 by Newsquawk Desk
- Asian equity markets were mostly higher amid tailwinds from Wall St where stocks finished a choppy session in the green
- US Secretary of State Pompeo alleged that New York’s Chinese consulate is a major spy hub
- UK Brexit Negotiator Frost and his EU counterpart Barnier were reportedly able to lay the foundation for a round of negotiations next week
- US House Speaker Pelosi said that Democrats are ready for negotiations on stimulus; reports...