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  • Political uncertainty from subpoenas on Trump campaign staff and a breakdown in German coalition talks hampered sentiment overnight
  • EUR took the brunt of the political concerns in Germany with EUR/USD retreating further below 1.1800, while EUR/GBP gave up the 0.8900 handle
  • Looking ahead, highlights include potential comments from ECB’s Lautenschlaeger, Draghi and...
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  • USD dips following WSJ reports suggesting that US Special Counsel Mueller has issued a Subpoena for Russia-related documents from Trump campaign officials.
  • Asian equities pulled back from better levels amid reports that North Korea conducts aggressive work on construction of a ballistic missile submarine.
  • Looking ahead,...
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  • Reports suggest that UK Brexit Secretary Davis told business leaders that there is a 50-50 Chance of a deal in December
  • The AUD benefitted from a record NAB Business Conditions print in the latest survey which saw the currency pare some of its losses vs. the USD
  • Looking ahead, highlights include German GDP, UK inflation, US PPI, APIs and a slew of central bank...
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  • Asian indices were mixed, with no fresh catalyst for a decisive move
  • GBP was the underperformer in the major space as source pieces suggested as many as 40 MP’s are pressuring UK PM May to resign
  • Today’s main highlight is potential comments from ECB’s Constancio

ASIA-PAC

US index futures edged higher in early dealing this week, but lacked any real conviction....
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Key Events: -

 

Monday:

 

Tuesday: UK Inflation Data (Oct) Japanese GDP (Q2, P)         

 

Wednesday: US CPI (Oct) US Retail Sales (Oct) UK Labour Market Report (Sep/Oct) 

 

Thursday: UK Retail Sales (Oct) Australian Labour Market Report (Oct)                       ...

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  • Asian equities are set to close out the week in the red with risk sentiment dented by US tax doubts
  • AUD slipped post the RBA’s SOMP (Statement On Monetary Policy), in which the central bank cut their inflation outlook
  • Looking ahead, highlights include UK production numbers, Uni. Of Michigan

ASIA

Asian equities are set to close out the week in the red with...
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9th November 2017

  • Risk on sentiment had been in full swing in Asia as stocks continued to edge higher at the beginning of the session, before later paring initial advances
  • NZD at better levels after the RBNZ monetary policy decision, where the central bank kept the OCR at 1.75% as expected
  • Looking ahead, highlights include US weekly jobs, ECB’s Coeure, Mersch, Lautenschlaeger...
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RBNZ OCR Review and Monetary Policy Statement due on Wednesday 8th November 2017 at 2000 GMT, 1400 CT

  • The RBNZ is likely to leave its Official Cash Rate unchanged at 1.75%
  • Uncertainty is rife following the recent General Election, which saw a new coalition come in to power
  • As a result, few expect anything too concrete from the central bank this time...
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  • Asian equities traded mixed with profit taking initially dragging down major bourses, while the rally in commodities ran out of steam
  • USD/JPY marginally lower amid the slight slip in US yields. Antipodean currencies performed a tad better against the greenback
  • Looking ahead, highlights include DoEs, BoE’s McCafferty and Carney

ASIA

Asian equities traded...
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  • Asian bourses traded higher across the board amid a positive Wall St close with energy names leading the charge
  • RBA stood pat on rates as expected. RBNZ act looks to maximise employment as a goal
  • Looking ahead, highlights include US APIs, ECB’s Draghi, Lautenschlaeger and Fed’s Yellen

ASIA

Asian bourses higher across the board, having drawn encouragement...
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  • Asian bourses begin the week on the backfoot, while oil prices rise on Saudi Royal Purge
  • USD/JPY rises to highest level since March as Trump criticises Japan’s trade practises with the US, alongside BoJ jawboning
  • Looking ahead, highlights include Eurozone PMI, comments from ECB’s Praet and Mersch as well as Fed’s Dudley

ASIA

Asian bourses began the week on the...
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  • Asian equities saw little in the way of firm direction overnight amid light newsflow and Japan away from market
  • AUD was the main mover in FX markets during Asia-Pac hours with AUD/USD slipping below 0.77 following soft retail sales
  • Looking ahead, highlights include US NFP, ISM Non-Manufacturing, ECB’s Coeure and Fed’s Kashkari

ASIA

Very quiet session in...
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  • FOMC held rates between 1.00%-1.25%, as expected. FOMC stated that activity is rising at a "solid rate" despite hurricanes
  • USD weakened across the board after reports that Trump intends to pick Powell as the next Fed Chair
  • Looking ahead, highlights include Eurozone Mfg. PMIs, UK Construction PMI, BoE Rate Decision and QIR, Fed’s Powell, Dudley and...
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1200GMT/0700CDT, Press Conference at 1230GMT/0730CDT

  • Current BoE Base Rate: 0.25%, Asset Purchase Facility: GBP 435bln.
  • The MPC is expected to raise its base rate by 25bps to 0.5% with markets believing that recent data is enough to support calls for lift-off.
  • This meeting sees the release of the decision itself, the vote split and the minutes, alongside the central bank’s Quarterly...
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  • Asian equity markets began November mostly on the front-foot led by the Nikkei 225 (+1.95%) as exporters benefited from a weaker JPY
  • NZD outperformed after better than expected Employment Change and decline in the Unemployment Rate
  • Looking ahead, highlights include UK Manufacturing PMI, ADP employment change, ISM manufacturing, DoEs and FOMC rate decision
  • ...
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FOMC Monetary Policy Decision Preview Due On 1st November 2017 At 18:00 GMT, 1400 EDT, 1300 CDT

  • Fed Chair announcement set to overshadow FOMC meeting.
  • All of those surveyed expected the FOMC to leave its monetary policy settings unchanged this time out.
  • Markets are almost fully pricing in a 25bps hike in...
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  • BoJ maintained QQE with Yield Curve Control and kept NIRP unchanged at -0.1% as expected
  • A cautious tone persisted in Asia as the region digested softer than expected Chinese PMI data and a dampened lead from the US
  • Looking ahead, highlights include Eurozone GDP, APIs. German equities closed for Reformation Day

ASIA

A cautious tone persisted in Asia as the...
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  • Asian equity markets were slightly mixed amid a deluge of earnings and with the region tentative at the start of a risk-packed week
  • The greenback pared some of the gains from Friday’s strong US GDP numbers which marginally benefitted its counterparts
  • Looking ahead, highlights include regional German CPIs, US PCE and personal consumption

ASIA

Asian equity...
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  • FED: Fed chair announcement to overshadow FOMC meeting
  • ECB: Draghi pulls-off magic act
  • BOE: MPC to hike for the first time in a decade
  • BOJ: Policy meeting likely to be a snooze fest
  • BOC: Cautious BOC enters data-dependent mode
  • RBA: Cyclical upswing still missing
  • RBNZ: Labour market...
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Key Events: -

 

Monday:

 

Tuesday: Eurozone CPI (Oct, P), Eurozone GDP (Q3, P)

 

Wednesday: Federal Reserve MonPol Decision, New Zealand Labour Market Report (Q3)

 

Thursday: BoE MonPol Decision

 

Friday: US Labour Market Report (Oct) Canadian Labour Market Report (Oct), UK Services PMI...

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  • Asia-Pac equities traded mostly higher following strong tech earnings in the US. ASX lagged after political difficulties in Australia
  • ECB sources suggest that the extension of the PSPP will be subject to a swift taper at the end of next year
  • Looking ahead, highlights include US GDP, PCE, and ECB’s Praet

ASIA

A deluge of corporate results dominated focus in...
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  • Asian equities traded with little in the way of firm direction as markets await today’s crucial ECB announcement
  • In FX, USD remained weaker to the benefit of its major counterparts with FX markets otherwise contained
  • Looking ahead, highlights include the ECB, Norges Bank and Riksbank rate decisions, US Trade, Weekly Jobs

ASIA

Asia stocks...
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  • AUD/USD slid following softer than expected Australian Q3 CPI in which all components of the release missed estimates
  • Asian equities were mostly higher in what was once again a relatively quiet session overnight ahead of key risk events today
  • Looking ahead, highlights include German IFO, UK GDP, US Durables, New Home Sales, BoC, DoEs, German 10yr and US 5yr...
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Due On Wednesday 25th October 2017 At 15:00 BST, 10:00 EDT, 09:00 CDT

The majority expects the BoC to stand pat when it issues its monetary policy decision on Wednesday, with only two of the 31 surveyed looking for a 25bps hike, following back-to-back 25bps hikes, which have left the BoC’s policy rate sitting at 1.00%.

There are several key points supporting the argument that rates will be kept on hold: -

  • The 50bps...
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