• Major European indices are largely directionless [Euro Stoxx 50 +0.1%], following on from the cautious trade seen overnight
• EU Council President Tusk announced that a flexible Brexit extension to October 31st has been agreed upon
• On the trade front, China’s Commerce Ministry states that negotiators on both sides have been discussing the remaining issues following the conclusion of talks in the US
• Looking ahead, highlights include US Initial Jobless Claims & PPI, ECB's de Galhua, Fed's Clarida,...

• Asian equity markets were cautious as the region mulled over the prior day’s central bank activity from both sides of the Atlantic
• FOMC Minutes stated that a majority of policy makers expected rates to remain steady this year
• EU's Tusk announced that EU27 and UK have agreed to a flexible Brexit extension to October 31st
• Looking ahead, highlights include US Initial Jobless Claims & PPI, IEA Monthly Report, ECB's de Galhua, Fed's Clarida,...

• European indices have been grinding higher [Euro Stoxx 50 +0.5%], diverging from the downbeat performance seen overnight
• Relatively quiet on the Brexit front ahead of today’s emergency summit [11:00CDT/17:00BST], recent reports highlight that MP’s are considering motions for PM May’s resignation
• In FX markets, the AUZ & NOK outperform on inflation data and less dovish RBA comments, as the DXY pivots the 97.0 level ahead of today’s risk events
• Looking ahead, highlights include  US CPI, ECB...

• Asian indices are predominantly negative, following on from Wall St. where the SPX’s 8-day winning streak ended & ahead of today’s ECB rate decision, FOMC minutes & Brexit summit
• EU’s Tusk states that extending Article 50 to June 30th is not long enough; instead, proposes a 1-year flexible extension
• Looking ahead, highlights include UK GDP, Output, US CPI, ECB Rate Decision, FOMC Minutes, Special EU Council meeting on Brexit, OPEC Monthly Report, ECB's...

• Major European indices have traded choppily [Euro Stoxx 50 +0.2%], following on from the cautious trade overnight ahead of tomorrows risk events.
• Brexit sentiment, along with sterling, was buoyed by reports of German support for a 5yr backstop time-limit; however, this was subsequently denied
• On the trade front, USTR has released a list of EU products which may be subject to tariffs if the EU does not remove subsidies for Airbus
• Looking ahead, highlights include Fed's Quarles & Clarida, Supply...

• Asian indices edged into positive territory, following a mixed performance on Wall St. and ahead of tomorrow’s risk events including ECB rate decision & FOMC minutes
• Legislation avoiding no-deal and forcing an extension to Brexit has been written into UK law, while the EU want a 9/12-month extension if no agreement is reached by Friday
• Looking ahead, highlights include US NFIB Business Optimism, Fed's Quarles & Clarida, Supply from Japan, UK &...

• A quiet start to the week for European trade [Euro Stoxx 50 -0.3%] following on from mixed trade overnight and ahead of several key events this week.
• Reports indicate that UK PM May is to offer Labour leader Corbyn a legally binding soft Brexit, with a ‘Boris Lock’; separately, Tory MP’s may oust May if the UK partakes in EU elections or get an extension beyond June
• Looking ahead, highlights include US Factory Orders, Durables Revisions, ECB’s de Galhau, Norges Bank’s Olsen, Riksbank’s...

• A mixed start to the week for Asian indices, as Friday’s momentum fades and markets catch up from their extended weekend
• On the Brexit front, the government is prepared to change the Political Declaration to achieve a deal while the EU thinks May’s short extension is risky
• Looking ahead, highlights include German Trade, US Factory Orders, Durables Revisions, ECB’s de Galhau, BoC’s Wilkins, Norges Bank’s Olsen, Riksbank’s...

• Major European indices are little changed [Euro Stoxx 50 U/C], continuing the cautious tone seen in Asia ahead of today’s key risk events.
• US-China trade discussions continue, with Chinese Vice Premier Liu He saying the two sides have reached a new consensus on key issues, working to conclude talks swiftly
• In a letter to EU’s Tusk, UK PM May has proposed a Brexit extension until 30th June 2019
• Looking ahead, highlights include US & Canadian Jobs Report & Fed's...

• Asian indices were cautious ahead of today’s key risk events and thinner trade amid market holidays
• US-China trade narrative continues, with President Trump and USTR noting that progress has been made, but the deal is not there yet
• UK PM May is drafting letters for EU’s Tusk and Labour’s Corbyn regarding an extension and an offer respectively
• Looking ahead, highlights include German Industrial Output, US & Canadian Jobs Report, Fed's...

• European indices have traded lackluster this morning [Euro Stoxx 50 U/C] as markets await US-China updates and ahead of key risk events
• MPs marginally approved a bill preventing a no-deal Brexit, but rejected restricting extension date to before May 22nd & further indicative votes
• Looking ahead, highlights include ECB Minutes, US Initial Jobless Claims, Fed's Williams, Mester & Harker

ASIA-PAC

Asian equity markets traded cautiously with the region tentative...

• Asian indices were mixed with sentiment kept afloat by US-China trade optimism; notably, speculation around an imminent sign-off date for a deal
• MPs narrowly approved a bill to prevent a no-deal Brexit, but rejected restricting extension date to before May 22nd & further indicative votes
• Looking ahead, highlights include German Industrial Orders, ECB Minutes, US Initial Jobless Claims, RBI Rate Decision, Fed's Williams, Mester & Harker, supply from Spain...

• European indices are firmer [Euro Stoxx 50 +0.7%] as the positive sentiment from Chinese PMI’s and US-China trade continues to drive markets; note, the FTSE 100 (U/C) is lagging on sterling strength
• Dollar is subdued weighed on by G10 counterparts strength on the back of risk sentiment, Brexit updates & EZ PMIs
• Looking ahead, highlights include US Services PMIs, US ADP National Employment, US Non-Manufacturing ISM PMI, Fed's Bostic, Barkin, George &...

• Asian indices were firmer with sentiment driven by Chinese PMIs and US-China trade; ahead of further talks in Washington
• UK PM May seeks a further A50 extension and a solution with Labour leader Corbyn
• Looking ahead, highlights include EZ, UK & US Services PMIs, EZ Retail Sales, US ADP National Employment, US Non-Manufacturing ISM PMI, Fed's Bostic, Barkin, George & Kashkari

ASIA-PAC

Asian...

• Once again, none of the Brexit indicative motions reached a majority in the House of Commons, though a customs union moved closer to passing
• European indices are largely unchanged as the data driven momentum fades
• Dollar is outperforming G10 counterparts buoyed from yesterday’s data and the underperformance of AUD, NZD & GBP
• Looking ahead, highlights include US Durable Goods, APIs & Fed’s Kaplan

ASIA-PAC

Asian equity markets were mostly higher as the regional...

• Asian indices were firmer following gains on Wall St. as the data driven sentiment continues
• Once again, all Brexit motions were rejected, though a customs union moved closer to passing; ahead of today’s cabinet meeting and another potential vote on Thursday
• RBA kept rates unchanged as expected, maintained a neutral tone and stated that policy will be set to support growth
• Looking ahead, highlights include UK Construction PMI, US Durable...

• Major European indices are firmly in the green [Euro Stoxx 50 +0.8%] as the China fueled momentum rolls on from overnight
• Dollar underperforms most G10 counterparts; excluding JPY which is subdued by the improvement in risk sentiment
• Another busy day of Brexit ahead, amendment selection for today’s indicative votes by Speaker Bercow due around 14:30BST/08:30CDT & voting to commence around 20:00BST/14:00CDT
• Looking ahead, highlights include US Manufacturing PMIs, US Retail Sales, Business...

• Asian indices were positive as momentum carried over from Wall St; risk tone was boosted by a beat in Chinese PMIs
• US-China talks make ‘new’ progress, although China remains cautious 
• No clear path for UK PM May or her deal, which may be pitted against the most popular motion from indicative voting
• Looking ahead, highlights include EZ, UK & US Mfg PMIs, EZ CPI, US Retail Sales, Business Inventories, Construction Spending, ISM Mfg,...

• Major European Indices [Euro Stoxx 50 +0.5%] are higher continuing the positive momentum from Asia – Of note, all of the Big 4 Chinese banks have now reported
• House of Commons vote on the Withdrawal Agreement 14:30GMT/10:30EDT; no amendments have been selected for debate in Parliament
• Dollar remains firm, but has lost some momentum against G10 counterparts while cable is somewhat depressed ahead of todays vote.
• Looking ahead, highlights include, US PCE Price Index, Canadian GDP, Fed's Williams &...

• Asian equity markets were higher across the board, Shanghai Composite outperformed as US-China trade talks are underway
• US Treasury Secretary Mnuchin said that US and Chinese negotiators had a productive working dinner last night in Beijing
• UK House Speaker accepted a vote on the Withdrawal Agreement for today at around 1430GMT/1030EDT; Labour and DUP parties are set to vote against it
• In FX markets, the DXY held steady above the 97.00 level...

• European Indices [Euro Stoxx 50 +0.3%] have gained some traction, diverging from the mostly negative performance seen in Asia – for reference, 2 of China’s Big 4 banks have now posted earnings
• US-China trade talks progress; IP and enforcement remain sticking points
• No majority for any Brexit indicative option & DUP are to oppose PM May’s deal
• Looking ahead, highlights include German National CPI (Prelim), US GDP (Final) & Initial Jobless Claims, Japanese Tokyo CPI & Retail Sales,...

• Asian indices were mixed, as the region somewhat diverged from Wall Street’s negative lead – China’s 2nd largest bank posted disappointing earnings, ahead of the other Big 4’s results
• US-China trade talks progress; IP and enforcement remain sticking points
• UK PM May lays out resignation path, no majority for any indicative option; while DUP are to oppose PM’s deal
• Looking ahead, highlights include German State & National CPI (Prelim), US...

• European equities have been choppy [Euro Stoxx 50 -0.4%], following the significant downturn seen in risk sentiment after a somewhat mixed lead from Asia
• House of Commons Speaker Bercow is to select indicative vote options around 15:00GMT/11:00EDT & voting is to begin around 19:30GMT/15:30EDT
• Dollar has conceded some ground against G10 currencies, with the exception of antipodeans after the RBNZ providing a more dovish outlook on the rate path
• Looking ahead, highlights include US and Canadian...

• Asian equity markets were mixed as the region somewhat failed to maintain the broad positive momentum from US where all majors finished in the green
• Opposition Leader Corbyn is preparing to whip his MPs to back a move today that would keep Britain in the single market and customs union
• Note, House Speaker Bercow is set to name the options for indicative votes around 1500GMT today
• Looking ahead, highlights include US and Canadian trade, DoEs,...

• European Indices are slightly firmer, taking impetus from the mild recovery staged late in Wall Street and overnight
• In terms of FX, the greenback remains rangebound and mixed vs G10 counterparts
• UK Parliament voted (327 vs. 300) to approve government motion which included the Letwin amendment (A) of taking control of Parliament time to hold indicative votes on Brexit options
• Looking ahead, highlights include US Building Permits & Housing Starts, US Consumer Confidence, Fed's Daly, BoE's...