13 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks were mostly kept afloat following the gains on Wall St where the major indices unwound recent losses (S&P 500 +1.4%).
- Hong Kong Chief Executive Lee announced an end to the COVID contact tracing app requirement and will eliminate the three-day arrival monitoring period.
- European equity futures were firmer with the Euro Stoxx 50 future up 0.4% after the cash market closed with losses of 0.5% yesterday.
- DXY sits just below the...
12 Dec 2022, 11:14 by Newsquawk Desk
- European bourses are under modest pressure, Euro Stoxx 50 -0.2%, as the cautious APAC tone continues but with magnitudes limited given the lack of newsflow.
- USD's initial extension faded with the index drifting within 105.23-104.72 parameters, peers mixed but generally rangebound.
- EGBs & Gilts have meandered to fresh intra-day peaks, though newsflow and drivers behind the upside are essentially non-existent.
- Crude benchmarks are under...
12 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks began the week with mild losses following the subdued performance last Friday on Wall Street.
- European equity futures were lower with the Euro Stoxx 50 future down 0.5% after the cash market closed with gains of 0.5% on Friday.
- USD is broadly firmer vs. peers, EUR/USD maintains 1.05 status and USD/JPY lingers around the 137 mark.
- Crude prices were slightly higher in some mild respite from the recent selling...
09 Dec 2022, 11:20 by Newsquawk Desk
- Equities in Europe trade with no firm direction in what has been a quiet morning session thus far in holiday-thinned volumes
- DXY managed to derive some support after losing 104.50 in early trade, with peers generally contained though JPY & CHF 'outperform'
- EGBs and USTs continue to diverge, but overall action has been limited given a lack of drivers and thin volumes.
- WTI Jan and Brent Feb remain firmer intraday but in the grander scheme...
09 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly higher as the region took impetus from the gains on Wall Street; Hang Seng and Shanghai Comp were indecisive
- US equity futures held on to the prior day's gains but lacked any significant follow-through during Asia hours
- DXY continued to weaken after retreating beneath the 105.00 level yesterday, G10s were firmer against the USD, and USD/JPY fell below 136.00
- US Treasury Secretary Yellen said dollar movements largely...
08 Dec 2022, 11:16 by Newsquawk Desk
- European bourses and US futures reside in narrow ranges are essentially pivoting the unchanged mark
- DXY has managed to regroup amid an initial retreat in USTs; though, the index remains around the mid-point of a 105.04-105.42 range
- EGBs & their UK counterpart have, despite initial pressure, staged a firm rally to a test/eclipse of Wednesday's peaks; USTs remain lower
- Crude benchmarks are consolidating after yesterday's mid-week pressure,...
08 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded cautiously after the lacklustre handover from Wall St where the major indices were subdued; Hong Kong outperformed
- European and US equity futures lacked firm direction despite an earlier approach towards the prior day's lows
- DXY was marginally higher overnight, G10s were mostly lower, and the JPY lagged
- US Energy Envoy Hochstein said the US still needs to replenish the SPR for the...
07 Dec 2022, 11:15 by Newsquawk Desk
- European bourses are somewhat mixed after a predominantly soft cash open, Euro Stoxx 50 -0.5%; though, the breadth of the market remains narrow.
- Stateside, futures are in relative proximity to the unchanged mark and are yet to meaningfully deviate from overnight ranges, ES -0.2%
- USD is mixed vs G10 peers, though the DXY itself, while negative on the session, remains underpinned around 105.50.
- Crude benchmarks are softer intraday given the...
07 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly lower following the tech-led rout seen on Wall Street which saw the NDX close with losses of 2%
- DXY was steady and held on to most of the prior day’s gain, USD/JPY was underpinned, Antipodeans attempted to nurse losses
- China will fine-tune COVID control measures and allow home quarantine, as well as ease testing, according to Xinhua; China will conduct a press conference at 15:00 local time (07:00GMT/02:00EST)
- NBC...
06 Dec 2022, 11:10 by Newsquawk Desk
- Choppy session thus far across equities as the region looks for direction, ES circa. 4k.
- Followed mixed APAC trade given the hawkish Wall St. handover eased on further China COVID control adjustments
- DXY briefly eclipsed Monday's best to a 105.50 peak before fading in relatively limited newsflow and as UST yields ease.
- Aussie is the modest outperformer following a 25bp RBA hike and guidance for further inflation-justified...
06 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks were somewhat mixed with early headwinds from Wall St where risk assets were pressured as bond yields and the Dollar gained
- DXY remained above the 105.00 level, USD/JPY extended on gains with a brief foray above 137.00, and Yuan pared back some recent gains
- RBA hiked its Cash Rate by 25bps and signalled further rate hikes ahead which prompted an adjustment in CBA's forecast for the terminal rate to 3.35% from 3.10%
- Beijing city...
05 Dec 2022, 11:15 by Newsquawk Desk
- European bourses are under modest pressure, Euro Stoxx 50 -0.2%, with US futures in-fitting
- Following fairly contained APAC action though Chinese stocks outperformed amid a further easing of COVID controls
- Crude benchmarks have been choppy, but are ultimately firmer post-OPEC+ and as the Russian oil cap comes into effect at USD 60/bbl.
- DXY bid with the Yuan and AUD outperforming while JPY is the standout laggard
- EGBs...
05 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly positively, although the gains for the rest of the region were limited; China outperformed
- Several Chinese cities accelerated the loosening of COVID-19 restrictions over the weekend including Shanghai and Shenzhen
- OPEC+ ministers formally endorsed the output policy rollover and will hold the next JMMC meeting on February 1st, while it vowed to stand ready to adjust oil output to stabilise markets
- Russian Deputy PM...
02 Dec 2022, 11:15 by Newsquawk Desk
- Equities in Europe are mostly mildly softer with the ranges particularly narrow ahead of the US jobs report; US futures in-fitting
- DXY is under pressure with peers modestly firmer and JPY outpacing given yield differentials and Tamura's remarks
- Bunds are modest bid but failed to breach 143.00 with USTs essentially unchanged pre-NFP
- Crude benchmarks similarly contained awaiting oil cap/OPEC+ developments
- Beijing City...
02 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks were subdued following the uninspired lead from the US ahead of the looming NFP jobs report.
- European equity futures were slightly lower with the Euro Stoxx 50 future down 0.2% after the cash market closed with gains of 0.5% yesterday.
- DXY remains sub 105, EUR/USD breached 1.05 to the upside, GBP narrowly lags G10 FX, NZD is the modest outperformer.
- EU officials are to resume discussions to break the deadlock on a price cap for...
01 Dec 2022, 11:25 by Newsquawk Desk
- European bourses have benefited from the post-Powell surge, US futures more contained pre-data
- Additional support derived in APAC hours from China's PMIs and COVID adjustments
- DXY remains downbeat given the dovish Powell reaction, JPY is the standout beneficiary given rate differentials
- EGBs are bid with pricing for December's ECB tilting towards 50bp given the magnitude of overnight price action, Lane speaks...
01 Dec 2022, 06:50 by Newsquawk Desk
- APAC stocks took impetus from the strong rally on Wall Street (SPX +3.06%, NDX +4.58%) after Fed Chair Powell’s speech.
- Fed Chair Powell said it makes sense to moderate the pace of interest rate hikes, adding he does not want to over-tighten but cutting rates is not something to do soon.
- Chinese Vice Premier Chunlan noted that the country’s fight against COVID is entering a new phase, while Caixin Manufacturing PMI topped...
30 Nov 2022, 11:25 by Newsquawk Desk
- European equities trade on a firmer footing following mixed leads from Wall St, with eyes set on Fed Chair Powell
- DXY under pressure after failing to surpass 107.00 overnight, Cable above 1.20 with antipodeans leading
- Yuan, base metals and COVID-sensitive areas supported following the latest China testing/restriction alterations
- Core bonds dented as core EZ inflation fails to decline, USTs directionally in-fitting but little changed overall...
30 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks eventually traded mostly higher although gains were capped following the subdued handover from Wall St and disappointing Chinese PMI data.
- European equity futures were positive with the Euro Stoxx 50 future up 0.5% after the cash market closed flat yesterday.
- DXY ran out of steam ahead of 107, EUR/USD and Cable reside on 1.03 and 1.19 handles respectively, NZD outperforms.
- OPEC+ is likely to keep output levels flat at the Sunday...
29 Nov 2022, 11:20 by Newsquawk Desk
- European bourses trade mixed after the initial China-led optimism petered out in early European hours, Euro Stoxx 50 +0.2%.
- US futures are supported but off best levels ahead of Powell on Wednesday and data points thereafter, ES +0.3%
- USD remains underpinned above 106.00 after Monday’s Fed speak, but is softer overall with antipodeans leading
- Crude benchmarks are bid on speculation around China’s COVID controls easing, with participants also...
29 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks were mostly positive with the improvement in risk appetite spurred after China protests were clamped down on by police.
- Fed's Bullard said markets are underpricing the risk that the Fed may be more aggressive, Williams sees a somewhat higher rate path in 2023 vs the September SEPs.
- European equity futures were slightly positive with the Euro Stoxx 50 future up 0.1% after the cash market closed down by 0.6% yesterday.
- DXY...
28 Nov 2022, 11:20 by Newsquawk Desk
- Cash bourses in Europe hold the downside bias seen across APAC stocks overnight which emanated from China reporting a record increase in COVID cases
- Stateside, futures are under similar pressure with the ES below 4000
- USD is under pressure as the risk tone favours JPY & others, alongside month-end models pointing to USD selling
- Initial haven bid in EGBs has faded ahead of Central Bank speak incl. President...
28 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mostly lower with risk appetite sapped by the ongoing COVID-related issues in China which has resulted in public unrest.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.6% after cash markets closed flat on Friday.
- DXY remains stuck on a 106 handle, EUR/USD lingers around 1.0350, JPY outperforms G10 FX, antipodeans lag.
- Crude declined with Brent beneath USD 82/bbl for the first time...
25 Nov 2022, 11:10 by Newsquawk Desk
- European bourses and US futures are near the unchanged mark with newsflow limited in holiday-sapped trade
- DXY has experienced a resurgence to 106+ parameters, aided by the PBoC cutting the RRR as touted
- Core fixed is under pressure with Bund’s below yesterday’s trough though holding onto the 141.00 mark; USTs in-fitting directionally
- Crude benchmarks have been grinding higher despite the USD pickup and further China COVID controls, oil price...
25 Nov 2022, 06:50 by Newsquawk Desk
- APAC stocks traded mixed with price action mostly rangebound amid a lack of notable newsflow and Wall St. trade.
- European equity futures were uneventful with the Euro Stoxx 50 future -0.1% after cash market closed up by 0.4% yesterday.
- DXY remains on a 105 handle, EUR/USD holds on to 1.04 status, G10 FX is overall relatively contained.
- Crude was marginally higher as top OPEC producers reaffirmed sticking to the OPEC+...