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  • European equities started the week on the front foot (Eurostoxx 50 +1.1%) following the upbeat performance experienced over in Asia
  • The Italian government are discussing reducing the 2019 deficit target to 2.0-2.1% from 2.4%; according to a government source
  • The European Council released its statement that endorsed UK PM May’s Brexit deal, as expected
  • Looking ahead, highlights include ECB’s Coeure, BoE Governor Carney...
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  • Asian equities and US index futures began the week mostly positive as stock markets picked themselves up from the Thanksgiving holiday lull
  • The European Council released its statement that endorsed UK PM May’s Brexit deal, as expected
  • EU officials were quick to warn that there is no plan B on offer for the UK and that voters are mistaken if they think that voting ‘no’ to the deal will get them a better offer
  • ...
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  • EUR suffers post-poor flash EZ PMI’s as slowing global growth hurts European exports
  • Crude continues its collapse in thin trade and set for 7th consecutive weekly fall
  • Gibraltar remains a key issue ahead of Sunday’s Brexit summit
  • Looking ahead, highlights include Canadian CPI, ECB’s de Guindos. US markets early close

ASIA

Asian stocks traded mostly lower with...

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  • Asian stocks traded mostly lower with sentiment in the region subdued by trade concerns and holiday-thinned conditions
  • Tory Brexiteer Iain Duncan Smith stated that the Brexit deal will be killed off by him and his Brexiteer colleagues in Parliament
  • In FX markets, the major pairs traded sideways with price volatility virtually non-existent due to the holiday closures and lack of data releases
  • Looking ahead, highlights include...
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  • Asian equities were mixed as the region struggled to sustain the rebound seen on Wall St, where a recovery in the energy and tech sectors underpinned most major US indices
  • UK PM May's spokesperson said PM May and EU's Juncker failed to finalise a deal on terms of Brexit but added that very good progress has been made in talks
  • FX markets were uneventful with the USD subdued as US participants headed into the Thanksgiving holiday
  • ...
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  • European equities are higher across the board (Eurostoxx 50 +0.8%) as the region stemmed the stock rout seen in Asia and Wall Street
  • European commission has rejected the Italian budget, with the opening of EDP said to be warranted
  • Looking ahead, highlights include US Durable Goods, Weekly Jobs, Existing Home Sales, Uni. of Michigan, DoEs, Japanese CPI, BoE’s Carney, UK PM May to meet with EC’s...
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  • Asian stocks mostly weakened as the global stock rout continued into the region following the losses in US
  • US Trade Representative Lighthizer released a report regarding China intellectual property and tech transfers which stated that China has not altered its unfair practices
  • UK PM May will discuss the text in Brussels today and will push for parts of her Chequers plan to be recognisable in the document, according to the BBC
  • Looking ahead, highlights include US Durable Goods, Weekly...
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  • FAANG stocks down 1.3-2.0% premarket, while EU technology sector hits yearly lows
  • DXY and broad Dollar saved from steeper declines as jitters over Brexit alongside the Italian budget are in focus
  • Looking ahead, highlights include US building permits & housing starts, BoC’s Wilkins & Lane and weekly API crude inventory data

ASIA

Asian stock markets were lower across the board as the risk...

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  • Asian stock markets were lower across the board as the risk averse tone rolled over from Wall St, where the tech sector led the sell-off
  • Brexiteers reportedly still lack the sufficient number of signatures required to trigger a no-confidence vote against UK PM May
  • UK PM May is reportedly drawing up secret plans to drop the Irish border backstop and win support from angry Brexiteers
  • Looking ahead, highlights include US building permits & housing starts, BoE’s Carney, Haldane,...
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  • APEC summit ended without an agreement on a joint communique for the first time in its history after China refused to sign amid US-China tensions
  • Apple have reportedly cut production orders for their 3 new iPhone models and are down 1.9% pre-market
  • DXY remains capped below a key Fib level (96.590) and the Dollar overall is mixed vs major counterparts
  • Looking ahead, highlights include potential comments from Fed’s Williams....
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  • Asian equity markets began the week somewhat cautious on lingering trade concerns and after disunity at the APEC summit
  • UK PM May stated over the weekend that there has not yet been enough number of letters required to trigger a no-confidence vote
  • ERG sources are said to be confident of reaching the 48 letters required on Monday to trigger a no-confidence vote against UK PM May
  • Looking ahead, highlights include potential comments from Fed’s Williams, UK PM May to speak at the CBI...
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16th November 2018

Gove, Fox, Grayling, Mourdant and Leadsom all decide to stay as UK political resignations abate

ERG sources suggest 48 letters need for no confidence vote have all been handed in to Brady

Looking ahead, highlights include US Industrial Production, ECB’s Weidmann and Lane, Fed’s Evans

 ASIA

Asia-Pac stocks traded indecisively as the region lacked fresh catalysts and as uncertainty regarding Brexit and US-China trade played on investor’s...

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  • US-Chinese trade relations in focus again after conflicting reports suggesting the next round of Chinese tariffs are being placed on hold, which USTR Lighthizer later denied
  • UK PM May said she will see this through and fight leadership challenge. UK PM May is yet to appoint a new Brexit Minister
  • Looking ahead, highlights include EZ CPI, US Industrial Production, ECB’s Draghi, Weidmann and Lane, Fed’s Evans

TRADE

US and China are to step up efforts to strike...

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  • Sterling pounded amidst multiple cabinet resignations
  • Gilts hit contract high, ahead of possible no-confidence vote as UK PM in Dis-May
  • Looking ahead, highlights include US retail sales, US weekly jobs, NY Fed mfg, Philly Fed, DoEs, ECB’s Coeure, Praet and de Guindos, Fed’s Quarles, Powell and Bostic, earnings from Walmart

ASIA

Asian equity markets were eventually mostly higher after the region gradually shrugged off the cautious lead from the losses...

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  • Asian equity markets were eventually mostly higher after the region gradually shrugged off the cautious lead from the losses stateside
  • UK PM May confirmed she has cabinet backing for her Brexit deal and stands ready to present the deal and a statement to Parliament
  • There were reports that a PM May no confidence vote would be submitted today. However, questions remain over whether or not rebels would have enough votes to be successful
  • Looking ahead, highlights include UK and US retail...
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  • Cable wings clipped by customs concerns ahead of 14:00GMT Cabinet meeting
  • Source reports of a possible 1.4mln BPD oil supply cut by OPEC fails to stop the rot
  • Looking ahead, highlights include, UK Brexit Cabinet meeting, US CPI, Fed’s Quarles, Powell, Supply from Germany and UK cabinet to meet to discuss Brexit deal

 ASIA

Asian equities traded lacklustre following a similar performance on Wall St where the energy sector was hit by a further aggressive slide in...

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  • Asian equities traded lacklustre following a similar performance on Wall St where the energy sector was hit by a further aggressive slide in oil prices
  • All eyes are now on events at 10 Downing Street as UK PM May’s cabinet meets to discuss her Brexit deal
  • Tensions between Italy and the European Commission remain after the nation left growth and deficit targets unchanged in its budget draft
  • Looking ahead, highlights include German and Eurozone flash GDP, Swedish, UK and US CPI,...
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  • Brexit "endgame" talk lifts Cable to a 1.29 handle as a deal hangs in the balance; Italian assets underperform ahead of budget re-submission deadline
  • Positive US-China trade rumblings lifting equities but oil extending losses as Presidential jawboning fails
  • Looking ahead, highlights include Italian Budget Resubmission Deadline, ECB’s Stournaras, de Guindos, Fed’s Brainard, Harker, Daly

ASIA

Major Asian equity markets mostly followed suit to the...

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  • Major Asian equity markets mostly followed suit to the sell-off on Wall St where tech led the declines
  • UK PM May said Brexit talks are now reaching their "endgame" and that both sides are working hard to reach an agreement but added that significant issues still remain
  • Senior ministers led by UK Brexit Secretary Raab told UK PM May no deal is preferable to the current offer from the EU, according to Buzzfeed
  • Looking ahead, highlights include German CPI (F), UK jobs report,...
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  • European equities are mixed after having initially opening higher across the board, DAX underperforms while FTSE 100 is buoyed by a weaker GBP
  • DXY has extended recovery gains beyond 97.000 and through its previous ytd peak to top out just shy of 97.600
  • Looking ahead, the calendar includes a lack of tier 1 data, ECB’s Lautenschlaeger, Fed’s Daly. US Veteran’s Day – no market closures

 ASIA

Asian equity markets eventually traded...

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  • Asian equity markets eventually traded mostly positive but with gains limited as some cautiousness lingered from the uninspiring performance on Wall St last Friday
  • GBP/USD gapped lower towards 1.2900 after reports that UK PM May cancelled an emergency cabinet meeting which severely lessens the likelihood of an EU summit later this month
  • Sources suggested EU and UK negotiators had agreed it would be impossible for the UK to unilaterally exit its backstop on Northern Ireland
  • Looking ahead,...
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  • Major European equities are lower across the board (Eurostoxx 50 -0.8%) as the sentiment seen in Asia spills over onto the region
  • WTI and Brent lost the USD 60/bbl and USD 70/bbl handles respectively, after the complex entered into bear market territory
  • GBP has lost momentum and is underperforming alongside the NOK within the G10 ranks
  • Looking ahead, highlights include US PPI, Baker Hughes, Fed’s Williams, Harker, Quarles, BoE’s Haldane, Tria to meet with...
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  • Fed kept Federal Funds Rate target unchanged at 2.00-2.25% as expected and continued to point to “further gradual increases” in rates
  • Asian equity markets traded lower following a lacklustre lead from Wall St where the mid-term stock rally stalled
  • EU is said to want a customs border in the Irish Sea in the event of a no-deal Brexit. However, the report noted that PM May said she would never allow this to occur
  • Looking ahead, highlights include UK GDP, industrial and...
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  • Major European indices are mixed (Eurostoxx 50 -0.2%) after starting the session in positive territory, financials outperform while consumer discretionary names la
  • The dollar index is holding relatively firm above the 96.000 handle within a fairly confined range awaiting the Fed, while GBPUSD is choppy amid conflicting Brexit reports
  • Looking ahead, highlights include US weekly jobs, FOMC rate decision, ECB’s Coeure, Draghi and...
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  • Asian stocks were mostly higher as they took impetus from the post-election rally seen on Wall St where all majors gained at least 2%
  • EU Commission see Italian budget measures leading to a deficit/GDP ratio of 2.9% vs. the Italian government's view of 2.4%, according to sources
  • FX markets calmed overnight in which the greenback consolidated at session highs above the 96.00 level after the prior day’s post-election rebound
  • Looking ahead, highlights include German trade, US...
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