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[PODCAST] US Open Rundown 20th August 2021
Risk sentiment is slightly softer but performance overall is contained, ES -0.2%, amid limited newsflowDXY is firmer and remains above 93.50, with activity currencies lagging and safe-havens marginally positive once againChina's legislature passed the Personal Information Protection LawFed Chair Pow
READ STORY[PODCAST] European Open Rundown 20th August 2021
The mood in Asia was mostly subdued following on from the losses in European bourses and indecision statesideEnergy was the worst-performing US sector once again as oil retreated for a 6th consecutive day and cyclicals laggedChina's legislature passed the Personal Information Protection LawIn FX, th
READ STORY[PODCAST] US Open Rundown 19th August 2021
Sentiment is firmly risk-off with European equity bourses and US futures pressured ES -0.6%, with USD, safe-haven FX and debt bidFresh newsflow has been minimal and action a continuation of APAC weakness post-FOMC Minutes after a downbeat US closeDXY is firmer but off 93.502 highs as activity/petro-
READ STORY[PODCAST] European Open Rundown 19th August 2021
FOMC minutes suggested that participants generally judge that the standard of "substantial further progress" had not yet been metMost judged that it could be appropriate to start reducing the pace of asset purchases this yearStocks across Asia succumbed to the weakness seen across US peers with glob
READ STORY[PODCAST] US Open Rundown 18th August 2021
European equities (Eurostoxx 50 -0.3%) trade with a mild negative bias with sectors mixed; US futures essentially flatThe RBNZ kept rates unchanged at 0.25%; cited lockdown and uncertaintyDXY is contained holding above 93.00 with peers equally contained ex-NZD post RBNZ; USTs are flat after APAC pre
READ STORY[PODCAST] European Open Rundown 18th August 2021
Asia-Pac bourses gradually improved and managed to shrug off the early cautiousness stemming from the weak Wall St. handoverThe RBNZ kept rates unchanged at 0.25%; cited lockdown and uncertaintyNZD recovered from initial losses with the RBNZ projecting a hike by year-end and another 100bps of increa
READ STORY[PODCAST] US Open Rundown 17th August 2021
European equities/US futures are hindered as sentiment slips on China updates and NZ returning to lockdown; ES -0.5%DXY is firmer but within ranges as safe-haven's remain little changed but antipodeans lag, particularly NZD pre-RBNZ on updated calls; core debt is bid but off bestChina's market regul
READ STORY[PODCAST] European Open Rundown 17th August 2021
Asian equity markets were subdued following the mixed performance on Wall St; S&P 500 and DJIA posted a 5th consecutive session of record closesChina's market regulator issued draft regulations on banning unfair competition in the internet sectorFed's Rosengren would be supportive of announcing
READ STORY[PODCAST] US Open Rundown 16th August 2021
European bourses/US futures are softer with FX-havens bid but core debt pulling back after initial upside on weekend/overnight updates; ES -0.2%Focus has been on disappointing activity data from China, while weekend newsflow was dominated by events in AfghanistanThe Taliban effectively took control
READ STORYWeek Ahead 16-20th August - Highlights include: FOMC mins, US retail sales; PBoC, China activity data; RBA mins, RBNZ, Norges; Aus jobs; UK and CA retail sales and CPI
MON: Japanese GDP (Q2); Chinese Retail Sales and Industrial Production (Jul).TUE: RBA Minutes (Aug); UK Jobs Report (Jun/Jul); EZ Flash GDP (Q2) and Flash Employment (Q2); US Retail Sales (Jul).WED: RBNZ Policy Decision, FOMC Minutes (Jul); UK Inflation (Jul); EZ Final CPI (Jul); US Building Permits
READ STORY[PODCAST] European Open Rundown 16th August 2021
Asia-Pac stocks traded mostly subdued and US equity futures pulled back from record levelsParticipants digested disappointing activity data from China, while weekend newsflow was dominated by events in AfghanistanThe Taliban effectively took control of Kabul which prompted a mass exodus of foreigner
READ STORY[PODCAST] US Open Rundown 13th August 2021
European bourses and US futures have a minimal positive bias but ultimately haven't deviated much from unchanged levelsUSD is downbeat but remains within reach of 93.00 with peers firmer but ultimately rangebound; debt sees USTs firmer while EGBs lost impetus after an initial flurry higherTokyo dail
READ STORY[PODCAST] European Open Rundown 13th August 2021
Asia-Pac equities traded mixed with a downside bias; the ASX 200 outperformed and the KOSPI laggedIn FX, DXY traded on either side of 93.00 whilst the EUR saw a mild bid as EUR/GBP tested 0.85South Korea issued a weekend stay-at-home order whilst Australia's New South Wales reported record new COVID
READ STORY[PODCAST] US Open Rundown 12th August 2021
Contained and quiet equity trade amid minimal macro developments ahead of US data; ES U/C, Euro Stoxx 50 +0.2%The DXY is modestly firmer but little changed with peers equally uninspiring while debt meanders pre-30yr US issuance after yesterday's strong saleOPEC members have not collectively discusse
READ STORY[PODCAST] European Open Rundown 12th August 2021
Asia-Pac equities traded saw a mixed session with a downside bias and a cautious tone; China laggedFX markets were quiet; DXY remained in a tight range sub-93.000, EUR/USD and GBP/USD were flatWhite House said the outreach to OPEC is aimed at long-term engagement and not necessarily an immediate res
READ STORY[PODCAST] US Open Rundown 11th August 2021
Equity bourses/futures are mixed but relatively contained around the unchanged mark in minimal newsflow; ES -0.1%, Euro Stoxx 50 +0.2%USD retains an underlying bid to the detriment of peers across the board though EUR/USD remains above current YTD lowsUS Senate passed the infrastructure bill as expe
READ STORY[PODCAST] European Open Rundown 11th August 2021
APAC equities saw a mixed session; the ASX 200 hit a new high and the KOSPI laggedFX markets were quiet, DXY tested yesterday's high before pulling back, USD/JPY remained above 110.50Crude futures drifted lower overnight amid COVID developments in the Asia-Pac regionUS Senate passed the infrastructu
READ STORY[PODCAST] US Open Rundown 10th August 2021
European bourses are marginally firmer with US futures mixed/flat in quiet newsflow after initial overnight pressure in futures despite a lack of catalystsUS Senate's infrastructure deal vote is expected today at 11:00EDT/16:00BSTUSD is underpinned to the detriment of safe-haven CHF & JPY while
READ STORY[PODCAST] European Open Rundown 10th August 2021
APAC equities traded mixed; the Nikkei gave up its catch-up gains and China was choppyUS equity futures were dented alongside sentiment despite the absence of a catalyst at the timeFed's Rosengren (2022 voter) said the Fed should announce QE tapering in September for a start this fallChina's Daily n
READ STORY[PODCAST] US Open Rundown 9th August 2021
European bourses lack direction amid quiet newsflow following a Japanese market holiday while US futures are mixed and the RTY lags, -0.6%Spot gold and silver saw mini flash crashes in early and thin APAC trade, while crude futures continue to crumbleIn FX, the DXY remains pressured though relativel
READ STORYWeek Ahead 9-13th August: Highlights include US CPI, Michigan Sentiment; China CPI; German ZEW; Banxico and CBRT rate decisions; Monthly oil market reports
MON: Japanese Holiday (Mountain Day); Chinese Inflation (Jul); EZ Sentix Index (Aug).TUE: EIA STEO; German ZEW Survey (Aug).WED: US CPI (Jul).THU: Banxico & CBRT Policy Decisions, OPEC MOMR & IEA OMR; UK GDP Estimate (Jun); US PPI (Jul).FRI: US Uni of Michigan Prelim Sentiment (Aug).NOTE: Pr
READ STORY[PODCAST] European Open Rundown 9th August 2021
APAC stocks traded cautiously with volumes light in Japan's absence; China eventually outperformedSpot gold and silver saw mini flash crashes in early and thin trade, while crude futures remained subduedIn FX, DXY drifted off best levels, EUR/USD briefly dipped to a four-month low and USD/JPY traded
READ STORY[PODCAST] US Open Rundown 6th August 2021
European bourses are marginally firmer in tentative and contained trade amid minimal newsflowUS equity futures trade sideways in the run-up to the final jobs report before the Fed's Jackson Hole SymposiumIn FX, the DXY continues to grind higher to the detriment of peers across the board while EUR/GB
READ STORY[PODCAST] European Open Rundown 6th August 2021
Asia-Pac equities saw a mixed session; Mainland China narrowly underperformedUS equity futures traded sideways in the run-up to the final jobs report before the Fed's Jackson Hole SymposiumIn FX, DXY was firmer, EUR and GBP were flat whilst the AUD and NZD laggedRBA Governor Lowe welcomes a lower AU
READ STORY[PODCAST] US Open Rundown 5th August 2021
European bourses are firmer but contained with earnings dominating as macro updates are minimal; Euro Stoxx 50 +0.4%, ES U/CUSD has been pressured to the benefit of peers ex-JPY, though performance is overall relatively contained while USTs & EGBs divergeFed's Daly (2021, 2024 voter) said her mo
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