RANsquawk

Blog

  • Risk appetite has supported EU stocks (Euro Stoxx 50 +0.8%) ahead of crucial trade talks this week
  • DXY gains more ground, eyeing YTD highs and then the 97.000 mark
  • Bipartisan talks over the weekend regarding funding for the border wall is said to have reached a stalemate ahead of this week’s government shutdown deadline
  • Looking ahead, highlights include Canadian Trade Balance, Fed’s Bowman

ASIA

Asia equity markets began the week mixed following the...

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  • Asian equity markets began the week mixed following the similar performance of their US peers on Friday and ahead of US-China trade talks
  • UK PM May has agreed to talks with Labour leader Corbyn regarding a soft Brexit according to The Telegraph; later reports suggest she has rejected this potential pivot
  • CHF saw volatility overnight amid a mini ‘flash-crash’ which saw the currency weaken by 1% which some attributed to stops being taken out amid...
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  • Mon: China Caixin Services PMI, UK GDP, Eurogroup meeting
  • Tue: OPEC Monthly Report, RBNZ Interest Rate Decision, Japanese PPI
  • Wed: Riksbank Interest Rate Decisions, UK CPI, EU Industrial Production, US CPI, Japanese GDP
  • Thu: Brexit Meaningful Vote, Indonesian Interest Rate Decision, US PPI, Eurozone GDP & Employment, China Trade Balance
  • Fri: China CPI, UK Retail Sales, Eurozone Trade Balance, NY Empire State Manufacturing Index, Uni of Michigan
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  • Major European equities are mostly idling, but auto names briefly reversed on reports that US are considering 3 potential car tariff options
  • DXY remains above 96.500, while Aussie slumped on RBA’s SOMP
  • Looking ahead, highlights include Canadian Employment Data & Fed's Daly Speaking
  • EARNINGS: Exelon Corp, Ventas, Phillips 66

ASIA

Asian stocks traded negative with global risk appetite subdued by growth concerns and after trade-related fears...

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  • Asian stocks traded negatively with global risk appetite subdued by growth concerns and after trade-related fears resurfaced
  • US President Trump said he will not meet Chinese President Xi before the March 1st deadline
  • UK PM May has approached Labour MPs to table an amendment guaranteeing that the UK will match EU workers’ rights post-Brexit
  • Looking ahead, highlights include German Trade Balance, Norwegian GDP, French &...
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  • Major European equities extended losses [Euro Stoxx 50 -0.8%] as the risk-averse sentiment intensified following the European Commission’s cut to Eurozone GDP and inflation
  • DXY advances further above 96.500 while EUR/USD and GBP/USD fell below 1.1350 and 1.2900 respectively
  • Looking ahead, highlights include BoE Rate Decision, Press Conference & QIR, US Initial Jobless Claims, Fed's Kaplan & Clarida, UK PM May meeting European Council President Tusk, US Auction
  • ...
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  • Asian equity markets were somewhat mixed with the region cautious following the subdued performance on Wall St
  • UK Parliament is now said to be planning a 2nd Brexit vote at the end of the month, ministers believe an extension of Article 50 is now inevitable
  • In FX markets, the DXY stayed firm and held near 2-week highs as its counterparts languished. NZD/USD heavily pressured on poor employment data
  • Looking ahead, highlights...
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  • Major EU equities in the red [Euro Stoxx 50 -0.2%], but IT outperforms sector-wise
  • DXY extends gains above 96.000 while AUD underperforms on dovish Lowe, EUR dipped on German factory orders
  • Looking ahead, highlights include US International Trade, EIA Inventories, Brazilian Rate Decision, Fed Chair Powell, Fed’s Quarles and BoC’s Lane, US 10yr Note Auction
  • EARNINGS: Prudential Financial, Chipotle, General Motors, GlaxoSmithKline

ASIA

Asian equity...

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  • Asian equity markets traded tentatively with most bourses in the region closed for holidays
  • UK ministers are reportedly considering a plan that would delay Brexit to May 24th
  • US President Trump delivered the State of the Union Address which focused on the economy, the border wall and trade talks
  • Looking ahead, highlights include US International Trade, Retail Sales, EIA Inventories, Brazilian Rate Decision, Fed Chair Powell,...
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  • Major European indices extend on opening gains and are firmly in positive territory with Britain’s FTSE 100 (+1.4%) led by oil and mining giants
  • EUR and GBP are both on the back foot vs the Dollar and inching closer towards downside big figures at 1.1400 and 1.3000 respectively
  • Looking ahead, highlights include Canadian Trade, US ISM Non-Manufacturing PMI, APIs and US 3yr Note Auction
  • EARNINGS: Anadarko Petroleum, Archer...
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  • Asia-Pac equity markets found some early support from the tech-led gains on Wall St, although later turned somewhat mixed
  • EU’s top official offered Britain a legal guarantee that it would not be trapped by the Irish backstop last night but was swiftly rejected by Brexiteer MPs
  • RBA kept rates unchanged at 1.50% as expected with the announcement interpreted as less dovish than some had expected
  • Looking ahead, highlights...
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  • A lacklustre start of the week for European equities [Eurostoxx 50 -0.4%] as the region failed to sustain the momentum seen in Asia
  • Dollar continues on a firmer footing as JPY and AUD underperform, while GBP still suffers from Brexit fatigue
  • Looking ahead, highlights include US Building Permits and Starts, Durable Goods & Factory Orders, New York ISM Business Conditions
  • EARNINGS: Alphabet, Gilead Sciences,...
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  • Asian equity markets began the week positively but with gains only marginal amid the mass closures in the region for the Lunar New Year
  • UK PM May could be planning for a general election in June, according to reports; later downplayed
  • The Tories’ fragile Brexit truce was dealt a blow yesterday after hardline Brexiteers ruled out two of May’s proposals for solving the Irish backstop issue
  • Looking ahead, highlights...
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  • Monday: Turkish CPI, UK Construction PMI, Eurozone PPI, US Factory Orders
  • Tuesday: Australian Trade, RBA Rate Decision, Eurozone (F), UK and US Services PMIs, Eurozone Retail Sales, Canadian Trade, US ISM Non-Manufacturing,
  • Wednesday: US Trade, Australian Jobs Report
  • Thursday: BoE Rate Decision, Minutes & QIR, RBI & Banxico Rate Decision,
  • Friday: German Trade, Norwegian GDP, Canadian Jobs
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  • Terrible Italian Manufacturing PMI slams 10-yr BTP futures as growth concerns magnify
  • Cable falls to weekly low as manufacturing survey reveals record high stockpiling due to Brexit
  • Looking ahead, highlights include, US Jobs Report, ISM Manufacturing PMI, Fed’s Kaplan
  • EARNINGS: Aon, Chevron, Dominion Energy, Exxon Mobil

ASIA

Asian equity markets traded cautiously as disappointing Chinese data clouded over the momentum from Wall St. where most major...

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  • USTR Lighthizer said talks with China made substantial progress but there is still much work to do
  • US President Trump stated that he could meet soon with Chinese President Xi in order to finalise a potential deal
  • Asian equity markets traded cautiously as disappointing Chinese data clouded over the momentum from Wall St
  • Looking ahead, highlights include, French, German, UK & EZ Manufacturing PMI, EZ CPI (Flash), US Jobs...
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  • Major European indices trimming earnings-fueled gains seen at the open [Euro stoxx 50 -0.3%]
  • Dovish Fed coupled with some ‘strong’ sell signals for month end portfolio rebalancing saw the Buck slump to new recent lows vs G10 peers
  • US President Trump will meet with Chinese Vice Premier Liu He at 15:30 EST today
  • Looking ahead, highlights include Canadian GDP, ECB’s Weidmann Speaking
  • EARNINGS: Celgene, General Electric, Northrop Grumman, Altria Group,...
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  • Fed stood pat on rates whilst indicating a willingness to adjust the pace of the balance sheet run-off, the message of patience was reiterated, language on the balance of risks was dropped
  • Asian stocks were mostly higher across the board as they took impetus from their counterparts in the US
  • The EU stands ready to take Brexit to a last-minute summit rather than bend the knee to demands from UK PM May, according to diplomats citing the scheduled summit on...
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  • European equities are mixed [Euro Stoxx 50 U/C] taking lead from the indecisive trade seen overnight as earnings season kicks into gear
  • DXY meanders between 95.875-682 while AUD and GBP outperform in the G10 space
  • Looking ahead, highlights include National German CPI, US ADP, FOMC Rate Decision & Press Conference
  • EARNINGS: AT&T, Boeing, Mcdonald’s, Microsoft, Facebook, Qualcomm, Paypal, Visa, Tesla

ASIA

Asian stocks traded indecisively with the...

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  • Asian stocks traded indecisively following better than expected Apple results and ahead of US-China trade talks
  • UK lawmakers accepted Brady's amendment for the backstop to be replaced with an alternative arrangement and accepted Spelman's amendment that expressed objection to a no-deal Brexit
  • The EU remains adamant that the withdrawal agreement or backstop is not up for renegotiation
  • Looking ahead, highlights include,...
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  • Major European indices nursed opening loses and extended on gains Euro Stoxx 50 +0.5%], outperformance is seen in the FTSE 100
  • Sterling awaits the outcome of UK Parliament’s vote on Brexit Plan B alongside amendments, but the still trades weaker vs the Euro
  • Looking ahead, highlights include US Consumer Confidence, UK Parliamentary vote on Brexit 'Plan B', BoE's Haldane Speaking, US 2yr FRN & 7yr Note Auction
  • EARNINGS: Advanced Micro Devices, Amgen, Apple, Verizon...
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  • Asian equity markets traded lower for most the session as the region followed suit to the negativity on Wall St
  • The DoJ’s announcement of charges against Huawei has raised concerns about the potential impact on US-China relations
  • UK PM May is said to have urged Tory MPs to back the Brady amendment which would replace the backstop with alternative arrangements
  • Looking ahead, highlights include US Consumer Confidence, UK...
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  • Major European equities are in the red [Euro Stoxx 50 -0.5%] following on from a negative end to Asia ahead of key risk events
  • USD appears to have gleaned some traction in the run up to the FOMC, US-China trade talks and NFP, while GBP underperforms ahead of the Brexit “Plan B” vote
  • Looking ahead, highlights include US National Activity Index, ECB’s Draghi, BoE’s Carney, Fed’s Mester, US 2yr and 5yr Auction
  • EARNINGS: Caterpillar, T...
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  • Asian equity markets initially began the week mostly higher, however the region later failed to hold on to early gains
  • Ireland said it will not accept changes to agreement aimed at avoiding a hard border, while UK PM May reportedly told cabinet ministers privately, she will not allow Britain to exit without a deal
  • US ended the government shutdown after a tentative agreement was reached on a stopgap bill to fund the government till February 15th but President Trump said he will declare an emergency...
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  • Monday: BoJ Minutes, Eurozone Consumer Confidence (Final), New Zealand Trade Balance
  • Tuesday: US Consumer Confidence, US Case Shiller, Japan Retail Sales
  • Wednesday: FOMC Interest Rate Decision, Australia CPI, US Pending Home Sales, US-China trade talks
  • Thursday: US PCE (TBC), US Chicago PMI, China PMIs, Eurozone GDP Flash & Unemployment, Canadian PPI, Japan Labour Report, US-China trade talks
  • Friday: EZ (F), UK, US mfg PMIs, US NFP, ISM mfg PMI, Uni. Of Michigan
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