US Market Open: APAC pressure continues with earnings in focus, core debt bid with US 5yr leading
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Newsquawk Rundown, Daily Podcast
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- European bourses are under pressure continuing the APAC handover with drivers light ex-earnings.
- SMI outperforms following Nestle, Novartis and ABB while Banking names lag after UBS and Santander.
- Stateside, futures are lower; FRC -19.5% in pre-market as deposits miss expectation.
- DXY firmer but at the mid-point of the day's range with JPY outperforming while AUD lags once again
- Core debt is bid across the board with USTs picking up further after a 10k 5yr block trade
- Commodities choppy with Crude and Spot Gold contained/slightly softer while base metals languish.
- Looking ahead, highlights include US New Home Sales. Supply from the US. Earnings from Alphabet, McDonald's, Microsoft, Verizon & Visa.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
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US Market Open: ECB pricing for 25bp lifts after the ECB BLS, ahead of US JOLTS & earnings
- European bourses mostly softer in catch-up trade from the long weekend, US futures similar with attention on the Fed, debt ceiling & earnings
- AUD outperforms after a RBA hike and hawkish guidance, DXY picking up above 102.00 after pivoting the figure while EUR & GBP fade
- EGBs softer in corrective post-ISM trade though off lows as the ECB BLS sparked a dovish reaction
- Subsequently, the EZ Flash HICP measure saw little sustained reaction with market pricing now implying an 80% chance of 25bp in May
- Crude benchmarks choppy with underlying pressure given the above market skew, metals mixed
- US Treasury Secretary Yellen said the debt ceiling could become binding as soon as June 1st; Biden has called a congressional leaders meeting for May 9th
- Looking ahead, highlights include US Factory Orders, JOLTS, New Zealand Unemployment. Earnings from AMD & Pfizer.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Europe Market Open: AUD leads after surprise RBA 25bp hike, EZ HICP & ECB Bank Lending Survey ahead
- APAC stocks traded with a slight positive bias as many of the regional participants returned to the market from the long weekend.
- The RBA surprised markets with a 25bps rate increase, while the central bank's language remained hawkish with the Board expecting some further tightening of monetary policy will be needed.
- European equity futures are indicative of a mildly higher open with the Euro Stoxx 50 +0.2% after the index was unchanged Friday.
- DXY is marginally softer but holding above 102, AUD is the clear outperformer post-RBA, EUR/USD sits on a 1.09 handle.
- Looking ahead, highlights include German Retail Sales, EZ & UK Final Manufacturing PMI, EZ HICP (Flash), M3, US Factory Orders, JOLTS, New Zealand Unemployment, ECB Bank Lending Survey, Supply from Germany, Earnings from UniCredit, BP, HSBC, AMD & Pfizer.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US Market Open: Sentiment hit by mostly sub-consensus EZ data ahead of US PCE/ECI
- European sentiment pressured by Flash-Prelim. growth data while earnings remain in focus
- A dynamic that has eased somewhat since the EZ-wide figure, Euro Stoxx 50 -0.7%, with attention on upcoming US data points/earnings
- AMZN initially rose but is currently -2% in pre-market with the focus on AWS; in Europe, banking names lag amid NatWest and yield action
- DXY eclipsed 102.00 as JPY sinks as BoJ maintains ultra-easy policy and gives dovish sounding guidance
- EGBs bid given the mostly sub-consensus EZ data, though off highs, USTs moving in-tandem
- Looking ahead, highlights include German HICP Prelim., US PCE Price Index, ECI, Speech from ECB's Lagarde, Earnings from Colgate, Berkshire Hathaway.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Europe Market Open: BoJ maintained policy & tweaked forward guidance, AMZN signals lower AWS growth
- APAC stocks were positive after taking impetus from the rally on Wall St while the region also digested a slew of earnings, data and the BoJ.
- BoJ kept policy settings unchanged, tweaked its forward guidance which remained dovish and announced it is to conduct a policy review.
- Amazon shares initially rose by some 9% in after-hours trade post-earnings before dropping to losses of 2% with some highlighting the Co. signalling lower AWS growth.
- European equity futures are indicative of a firmer open with Euro Stoxx 50 future +0.4% after the cash market closed higher by 0.2% yesterday.
- DXY is broadly firmer vs. peers, EUR/USD maintains 1.10 status, JPY lags post-BoJ and Cable fails to hold onto a 1.25 handle.
- Looking ahead, highlights include EZ GDP Flash, German HICP Prelim., US PCE Price Index, ECI, Speech from ECB's Lagarde, Earnings from Mercedes-Benz, NatWest, Colgate, Berkshire Hathaway & Chevron.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US Market Open: Earnings deluge dominates with NQ leading post-META, +11% pre-market
- European bourses relatively contained but with an underlying positive skew after a deluge of earnings.
- NQ outperforms post-META (+11% pre-market) with AMZN, among others, ahead.
- DXY edges above 101.50 with antipodeans outperforming while JPY and CHF are undermined by yields.
- EGBs remain subdued but have bounced off initial lows post-supply, USTs in-fitting pre-7yr/GDP
- Crude consolidates with metals mixed overall given the contained European tone and USD upside.
- Looking ahead, highlights include US GDP & PCE Prices Advance, CBRT Policy Announcement, Speech from ECB's Panetta, Supply from the US. Earnings from Amazon, AbbVie Exxon, Mastercard, Linde, Lilly, T-Mobile, and Altria.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
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