Newsquawk Rundown, Daily Podcast

• European bourses are incrementally firmer while US futures are slightly softer in tentative pre-Easter/NFP trade.
• APAC handover was softer though Chinese Caixin data stemmed the downside.
• DXY is firmer though off the 102.05 peak with antipodeans/petro-FX softer while CHF leads with peers otherwise contained.
• EGBs have continued the week's trend and spiked to fresh highs post-Construction PMIs, USTs little changed by comparison.
• Commodities have been choppy but rangebound overall with the focus remaining on geopolitics and high-level meetings.
• Looking ahead, highlights include US IJC, Canadian Labour Market Report; Fed's Bullard. Note: Desk will close at 21:30BST, given Friday's market holidays.

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• APAC stocks were mostly subdued amid the soft Wall St handover, albeit with the downside stemmed by Chinese Caixin Services PMI.
• RBI kept the Repurchase Rate unchanged at 6.50% (exp. 25bps hike) via unanimous decision.
• European equity futures are indicative of a flat open with the Euro Stoxx 50 unchanged after the cash market closed down 0.4% on Wednesday.
• DXY sits just above 102, EUR/USD is back on a 1.08 handle, antipodeans lags across the majors.
• Looking ahead, highlights include Swiss Unemployment Rate, US IJC, Canadian Labour Market Report, Speech from Fed's Bullard, Supply from France. Note: Desk will close at 21:30BST, given Friday's market holidays

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• European bourses are mixed but with a negative skew while US futures reside just below the neutral mark.
• DXY trades either side of 101.50 with NZD initially outperforming after hawkish-RBNZ action, AUD lags.
• Fixed benchmarks are comparably contained, though pressured, with concession & RBNZ perhaps factoring.
• Crude futures have eased off of APAC highs, given the above, with focus on geopolitics/high-level meetings.
• Looking ahead, highlights include US ADP, International Trade, ISM Services PMI, Speeches from Fed's Mester, ECB's Lane.

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• APAC stocks traded mixed after the negative lead from Wall St with trade also hampered by the closures in the Greater China region.
• RBNZ delivered a more aggressive than expected rate hike of 50bps and signalled a further rate increase to return inflation to its target.
• European equity futures are indicative of a marginally lower open with the Euro Stoxx 50 -0.2% after the cash market closed up 0.1% on Tuesday.
• FX markets were broadly contained overnight, DXY sits just above 101.50, EUR/USD trades around the 1.0950 mark, NZD leads the majors post-RBNZ.
• Looking ahead, highlights include US ADP, International Trade, ISM Services PMI, Speeches from Fed's Mester, ECB's Lane, Supply from UK & Germany.

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• Equities have picked-up most recently after a relatively contained European morning with fresh drivers light
• GBP leads the G10-FX space to the USD's detriment, while AUD lags post-RBA despite downside being initially capped
• Fixed income is pressured with concession perhaps factoring while the 2.30% and 3.50% yield levels proving sticky
• Crude remains underpinned by the weekend's OPEC adjustment; focus otherwise on Iraq exports and geopols
• Looking ahead, highlights include US Factory Orders, JOLTS, Speeches from Fed's Cook, Collins & Mester and BoE's Pill.

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• APAC stocks traded mostly positive but with gains limited following the indecisive mood stateside.
• RBA kept rates unchanged at 3.60%, as expected; board expects some further tightening may well be needed.
• European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.1% on Monday.
• DXY is a touch firmer and holding above 102, EUR/USD lingers below 1.09, AUD marginally lags post-RBA.
• Looking ahead, highlights include US Factory Orders, JOLTS, Speeches from Fed's Cook, Mester & BoE's Pill, Supply from Netherlands & UK.

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• Crude outperforms after the weekend announcement of a surprise voluntary OPEC+ output cut until end-2023.
• Equities are broadly mixed/tentative as markets digest elevated oil prices against the potential inflation/Central Bank implications.
• Amidst this, the FTSE 100 outperforms while the NQ lags; APAC trade was firmer but capped by soft data release.
• USD derived initial support from the above and yield moves, though the DXY is well off best with peers mixed.
• Fixed income is pressured post-OPEC+ action with yields bid, though much of this has pared.
• Looking ahead, highlights include US ISM Manufacturing and Speech from Fed’s Bullard & Cook.

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• APAC stocks were mostly positive amid strength in the energy sector although gains in the broader market were capped as participants digested disappointing Chinese Caixin Manufacturing PMI.
• Crude rose following the surprise voluntary output cuts by OPEC+ members totalling over 1mln bpd from May through to year-end.
• Fed’s Waller (Voter) said the recent data is consistent with the idea that inflation can be brought down quickly with relatively little harm to the jobs market.
• European equity futures are indicative of a marginally lower open with the Euro Stoxx 50 -0.2% after the cash market closed up 0.7% on Friday.
• DXY is firmer vs. peers and on a 103 handle, JPY lags the majors, EUR/USD is sub-1.08.
• Looking ahead, highlights include US ISM Manufacturing and Speech from Fed’s Bullard.

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• European bourses are slightly firmer following APAC/post-HICP; US more tentative pre-PCE.
• EZ HICP YY cooled more than expected while the core measures were in-line causing EGB upside.
• Specifically, Bunds spiked to a 135.64 peak with ECB pricing easing slightly for May.
• EUR saw fleeting movement while USD remains bid with JPY pressured into month-end.
• Commodities fairly contained amid numerous geopolitical updates before afternoon events
• Looking ahead, highlights include Canadian GDP, US PCE and core PCE, Chicago PMI, Uni. of Michigan (Final), Fed's Collins, Williams, Barkin, Waller, Cook, ECB's Lagarde.

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• APAC stocks were mostly firmer after taking impetus from the tech-led gains on Wall Street and better-than-expected Chinese PMI figures.
• Chinese Manufacturing PMI topped forecasts and Non-Manufacturing PMI rose to its highest since 2011.
• European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.1% after the cash market closed up 1.3% on Thursday.
• DXY is holding above the 102 mark, FX markets are overall relatively contained, NZD marginally outperforms, havens are a touch softer.
• Looking ahead, highlights include German retail sales, UK GDP (Q4), French CPI, Eurozone CPI, German labour market report, Canadian GDP, US PCE and core PCE, Chicago PMI, Uni. of Michigan (Final), Fed's Collins, Williams, Barkin, Waller, Cook, ECB's Lagarde.

Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk