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Newsquawk

Blog

Original insights into market moving news

Europe Market Open: Mixed APAC trade as Wall St. momentum waned; Central Bank speak ahead

22 Mar 2024, 06:20 by Newsquawk Desk

  • APAC stocks were ultimately mixed after momentum from the fresh record highs on Wall Street waned, Hang Seng and Shanghai Comp. suffered.
  • DXY extends on gains above 104.00 after recent firm US data and pressure in Asia-Pac counterparts, USD/JPY traded indecisively.
  • The latest Japanese CPI data was mostly softer-than-expected but the Core reading matched estimates at a four-month high.
  • BoE Governor Bailey said rate cuts were in play at future...
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US Market Open: Equities climb higher, AUD bid post-jobs data & Bonds benefit from EZ PMIs; US IJC due

21 Mar 2024, 10:58 by Newsquawk Desk

  • Equities firmer in a continuation of the post-Fed rally; European bourses off best after EZ PMIs
  • Dollar stronger, AUD bid post-jobs data and CHF lower after SNB cut rates by 25bps
  • Bonds higher taking impetus from the poor French PMI and dire accompanying German commentary
  • Crude pares initial gains, base metals benefit from risk sentiment
  • Looking ahead, US IJC, Fed's Barr, Supply from the US, Earnings from FedEx,...
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Europe Market Open: FOMC reaffirmed their 2024 cut projection; BoE, SNB & PMIs ahead

21 Mar 2024, 06:35 by Newsquawk Desk

  • Fed kept rates unchanged and reaffirmed its 2024 three rate cuts projection, 2025 and 2026 FFR forecast raised.
  • Powell noted that January/February CPI and PCE data was quite high, but there are reasons to believe there were seasonal factors at play.
  • APAC stocks were mostly underpinned after the fresh record levels on Wall St post-"dovish" FOMC.
  • European equity futures indicate a higher open with the Euro Stoxx 50 future +1.2% after the cash...
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US Market Open: Equities softer, DXY firmer benefiting from a weaker Yen, Bonds bullish post-UK CPI; FOMC due

20 Mar 2024, 10:31 by Newsquawk Desk

  • European equities are mostly lower, with the CAC 40 dragged down by Luxury names after Kering issued a profit warning; US equity futures modestly softer
  • DXY firmer, taking impetus from the weaker Yen; USD/JPY above 151.70
  • Bonds hold a bullish bias following softer UK CPI, as attention turns to the FOMC
  • Crude and base metals are softer owing to the firmer Dollar and tentative risk tone
  • Looking ahead, Australian PMIs,...
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Europe Market Open: Cautious trade into the FOMC; Kering issued a profit warning

20 Mar 2024, 06:28 by Newsquawk Desk

  • APAC stocks traded cautiously and mostly rangebound ahead of the FOMC and with Japanese markets closed.
  • European equity futures indicate a lower open with the Euro Stoxx 50 future -0.4% after the cash market closed up 0.5% on Tuesday.
  • In the luxury sector, Kering has warned of a 20% plunge in Q1 Gucci sales.
  • DXY is contained below the 104 mark, JPY lags with USD/JPY above 151.50, GBP eyes UK CPI metrics.
  • Looking...
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US Market Open: Equities mixed, Dollar bid & JPY lower post-BoJ hike; US 20yr supply due

19 Mar 2024, 11:00 by Newsquawk Desk

  • European bourses are mixed; US equity futures are lower, RTY underperforms
  • BoJ carried out a widely telegraphed and dovish exit from NIRP, YCC and ETF/J-REIT buying; RBA U/C, dovish tweak to guidance
  • Dollar is firmer and trades around 104.00, JPY underperforms post-BoJ, AUD pressured post-RBA
  • Bonds incrementally firmer as attention turns to US 20yr supply
  • Crude and XAU are modesty softer, weighed on by the stronger...
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Europe Market Open: BoJ undertook a dovish exit from NIRP, RBA unch.; USD/JPY back above 150.00

19 Mar 2024, 06:33 by Newsquawk Desk

  • APAC stocks traded mixed as markets digested the first of this week's central bank announcements.
  • BoJ carried out a widely telegraphed and dovish exit from NIRP, YCC and ETF/J-REIT buying.
  • RBA kept rates unchanged whilst providing a dovish tweak to its guidance on rates.
  • JPY and AUD lag peers post-rate decisions with USD/JPY back on a 150 handle.
  • European equity futures indicate a slightly lower open with the Euro...
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US Market Open: Equities firmer amid the constructive risk tone, JPY softer and Crude bid as geopols remains in focus

18 Mar 2024, 10:55 by Newsquawk Desk

  • Equities are in the green amid a constructive risk tone; Nvidia gains pre-market ahead of its GTC
  • Dollar is flat, JPY is modestly softer and back on a 149 handle ahead of BoJ on Tuesday
  • Bonds are incrementally weaker, though with price action contained
  • Crude is firmer following constructive Chinese activity data and heightening geopolitical tensions
  • Looking ahead, comments from Nvidia CEO...
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Europe Market Open: China data beat exp., DXY rangebound into a blockbuster week

18 Mar 2024, 06:35 by Newsquawk Desk

  • APAC stocks were somewhat mixed as participants brace for this week's busy slate of central bank announcements.
  • China released better-than-expected Industrial Production and Retail Sales data.
  • European equity futures indicate a positive open with the Euro Stoxx 50 future +0.2% after the cash market closed down 0.1% on Friday.
  • DXY sits in a tight range below 103.50 with other FX majors contained. USD/JPY edged marginally above...
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US Market Open: Equities are firmer, JPY unreactive to RENGO and crude off best levels; UoM due

15 Mar 2024, 10:43 by Newsquawk Desk

  • Equities are mostly modestly firmer; Adobe lower in the pre-market after soft guidance
  • Dollar is flat, RENGO wage hike fails to lift the Yen
  • Bonds are contained at post-PPI lows and Gilts continue to underperform
  • Crude pulls back from best levels whilst copper holds at multi-month highs
  • Looking ahead, US Import Prices, Canadian Wholesale Trade, UoM Inflation Expectations, Comments from ECB’s...
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Europe Market Open: RENGO announcement due imminently, APAC stocks declined post-PPI/Retail Sales

15 Mar 2024, 06:35 by Newsquawk Desk

  • APAC stocks declined amid data-related headwinds from the US including hot PPI and weak Retail Sales.
  • Markets await the RENGO wage announcement and its potential ramifications for next week's BoJ policy announcement.
  • European equity futures indicate a contained open with the Euro Stoxx 50 future -0.1% after the cash market closed down 0.2% on Thursday.
  • DXY has gained a firmer footing above the 103 mark, EUR/USD is back below 1.09, NZD...
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US Market Open: Equities firmer & Dollar flat ahead of Tier 1 US data and ECB speak, Crude at session highs

14 Mar 2024, 10:45 by Newsquawk Desk

  • Equities are mostly firmer with slight outperformance in the NQ, paring some of the prior days losses
  • Dollar is contained and G10s are mostly flat with slight strength seen in the NZD & GBP
  • Bonds hold a bearish tilt, continuing price action seen in the prior few days; Bunds caught a slight bid following dovish remarks from ECB’s Stournaras
  • Crude is firmer and near session highs, base metals are entirely in the...
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Europe Market Open: BoJ decision seen to be dependent on wage numbers; APAC mixed

14 Mar 2024, 06:35 by Newsquawk Desk

  • APAC stocks were mixed after the indecisive performance stateside amid light catalysts and tech weakness.
  • European equity futures indicate a flat open with the Euro Stoxx 50 future unchanged after the cash market closed up 0.4% on Wednesday.
  • BoJ decision is seen coming down to the results of Japan's annual wage negotiations, according to Nikkei.
  • DXY is steady below the 103 mark with other majors contained, USD/JPY eyes a 148...
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US Market Open: Equities mixed, JPY lower and Gilts unreactive to the UK's GDP; ECB speak due

13 Mar 2024, 10:50 by Newsquawk Desk

  • European bourses are modestly firmer, whilst US equity futures are mixed with slight underperformance in the NQ
  • Dollar is incrementally higher and the JPY continues to underperform
  • Bonds are mixed with Gilts paring back Tuesday’s gains
  • Crude is firmer and near session highs, base metals are mixed but with outperformance in Copper
  • Looking ahead, ECB Operational Framework Review, Speech from ECB’s Cipollone &...
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Europe Market Open: Japanese firms wage agreements & Chinese developer concerns in focus

13 Mar 2024, 06:35 by Newsquawk Desk

  • APAC stocks traded mixed as early momentum from the tech-led gains on Wall St was offset by Chinese developer default concerns.
  • Toyota, Nissan, Panasonic, Hitachi & Nippon Steel were among the companies that have responded to Japanese unions' wage hike demands in full.
  • European equity futures indicate a flat open with the Euro Stoxx 50 future unchanged after the cash market closed up 1.1% on Tuesday.
  • DXY is steady below the 103 mark,...
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US Market Open: Equities mostly firmer, JPY lags post-Ueda and Gilts bid after the UK's jobs report; US CPI due

12 Mar 2024, 10:49 by Newsquawk Desk

  • European bourses are modestly firmer, whilst US equity futures are mixed; the NQ narrowly outperforms led by tech optimism post Oracle results
  • Dollar is flat, JPY underperforms post-Ueda and the Pound lags after softer-than-expected jobs data
  • Bonds are modestly firmer, taking the lead from Gilt outperformance following the region's jobs data
  • Crude is firmer as geopolitical themes remain; XAU is lower
  • Looking ahead,...
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Europe Market Open: BoJ's Ueda refrained from anything overly hawkish; US CPI due

12 Mar 2024, 06:29 by Newsquawk Desk

  • APAC stocks traded mixed following the tentative mood stateside and as participants await US CPI data.
  • BoJ Governor Ueda refrained from any overly hawkish rhetoric and noted weakness in consumption of non-durable goods.
  • European equity futures indicate a higher open with the Euro Stoxx 50 future +0.6% after the cash market closed down 0.6% on Monday.
  • DXY remains sub-103, JPY lags post-Ueda, other majors are broadly...
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US Market Open: Tech weakness weighs on European indices, JPY bid post-GDP & Bonds contained

11 Mar 2024, 10:45 by Newsquawk Desk

  • European equities are lower, dragged down by losses in the semi-conductors; US equity futures are mixed
  • Dollar is flat, JPY continues its recent advances, helped by the regions GDP figures
  • Bonds are contained within relatively tight ranges; ECB’s Kazimir sparked a modest hawkish reaction
  • Crude is modestly firmer; XAU flat and base metals mixed
  • Looking ahead, US Employment Trends, Japanese Corporate Goods Price, NY...
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Europe Market Open: Chinese CPI & Japanese GDP highlighted a downbeat APAC session

11 Mar 2024, 06:30 by Newsquawk Desk

  • APAC stocks traded with a downbeat mood with most major indices pressured after Friday's tech-led declines in the US.
  • Japan's revised Q4 GDP data missed expectations but showed the economy averted a technical recession.
  • Chinese inflation data showed a return to acceleration in consumer prices; CPI YY (Feb) 0.7% vs. Exp. 0.3% (Prev. -0.8%).
  • DXY sits on a 102 handle with FX markets broadly contained. USD/JPY is just below the 147...
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US Market Open: Equities are mixed & Dollar flat ahead of US NFP; JPY bid on BoJ sources & EUR slips amid ECB speak

08 Mar 2024, 11:17 by Newsquawk Desk

  • European equities are mixed, with trade fairly rangebound ahead of the US NFP report
  • Dollar is flat, JPY is bid post-BoJ sources and EUR is hampered by dovish ECB rhetoric
  • Bonds are bid, with EGBs lifted by dovish ECB speak and ahead of the US NFP
  • Crude gives back earlier gains; XAU sits at highs
  • Looking ahead US NFP, Canadian Employment, and comments from Fed’s Williams.
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Europe Market Open: APAC benefited from Wall St. strength, NFP ahead

08 Mar 2024, 06:35 by Newsquawk Desk

  • APAC stocks took impetus from the fresh record levels on Wall Street amid dovish tailwinds, Nikkei gained despite the recent JPY strength.
  • DXY languished beneath 103.00, EUR/USD lingered around 1.0950, USD/JPY tested yesterday's lows, and Antipodeans remained afloat.
  • Fed Chair Powell suggested they are not far from being confident to cut rates and he could see the case for shortening the maturity of Fed holdings, while he would prefer not to hold...
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US Market Open: Equities are mixed, JPY bid post-BoJ speak & Rengo wage demand; ECB and Fed speak due

07 Mar 2024, 11:14 by Newsquawk Desk

  • Equities are mixed, with sentiment improving across the indices throughout the European morning
  • Dollar is lower weighed on by a strong JPY after further BoJ speak & Rengo wage demands; USD/JPY back below 148.00
  • Treasuries are modestly firmer with EGBs boosted by a strong French auction and awaiting the ECB
  • Crude is softer, XAU remains at highs and base metals are entirely in the green
  • Looking ahead, US Challenger...
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Europe Market Open: JPY strength continues with BoJ speak in focus, ECB ahead

07 Mar 2024, 06:35 by Newsquawk Desk

  • APAC stocks were mixed as participants second-guessed central bank policies and digested Chinese trade data.
  • Fed's Kashkari (non-voter) said he currently thinks there will be two rate cuts for 2024 which could potentially just be one.
  • European equity futures indicate a contained open with the Euro Stoxx 50 future -0.1% after the cash market closed up 0.5% on Wednesday.
  • In FX, DXY was contained after yesterday's selling, JPY strength has...
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US Market Open: Equities firmer, Dollar lower & JPY bid after BoJ sources, Gilts pressured ahead of UK Budget; Fed Chair Powell due

06 Mar 2024, 11:27 by Newsquawk Desk

  • Equities are firmer as sentiment improves from the prior session; Chair Powell ahead
  • Dollar lower, JPY bid after BoJ sources, Antipodeans benefit from risk tone
  • At the March BoJ policy meeting some attendees are reportedly likely to say that lifting negative interest rates is reasonable, via JiJi
  • Bonds softer with Gilts pressured ahead of the UK Budget
  • Crude benefits from a bullish-leaning private inventory...
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Europe Market Open: Super Tuesday points to a Biden-Trump rematch, UK Budget & Fed's Powell due

06 Mar 2024, 06:35 by Newsquawk Desk

  • APAC stocks were mostly choppy with early pressure following the tech-led declines stateside.
  • Super Tuesday projections point to a rematch between US President Biden and former President Trump.
  • European equity futures indicate a slightly positive open with Euro Stoxx 50 future +0.1% after the cash market closed down 0.4% on Tuesday.
  • DXY is uneventful on a 103 handle, USD/JPY traded on both sides of 150.00, antipodeans...
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