Afleveringen
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Stoxx 600 edges a little higher, US futures trade either side of the unchanged mark.DXY is essentially flat with price action ultimately rangebound in quiet newsflow.USTs are slightly softer ahead of US supply; Bunds are closed for trade.Crude oil holds an upward bias, base metals are modestly firmer.Looking ahead, Richmond Fed Index and supply from the US.
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APAC stocks traded mostly firmer in choppy trade following a similar session on Wall Street, where stocks experienced volatility with low volumes amid the Christmas period.China convened a national fiscal work conference in Beijing, according to the Ministry of Finance, and said they will step up fiscal spending and accelerate spending speed in 2025.Japanese Finance Minister Kato expressed concern about recent FX moves. USD/JPY gradually dipped under 157.00.Eurex is closed for trading and clearing in all derivatives on December 24th, 25th, and 26th.Looking ahead, highlights include US Richmond Fed Index, and Supply from US Christmas Eve (Recommend Early Close).NOTE: Newsquawk Desk will run until 18:00GMT/13:00EST on Tuesday December 24th.
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Zijn er afleveringen die ontbreken?
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European bourses are mostly lower, US futures higher with modest outperformance in the NQ.Dollar is firmer and holding around 108.00, GBP little changed after UK shows no growth in Q3.Bunds & Gilts pressured in thin trade, USTs flat into data.Gas heats up on updates out of Qatar and Russia; Crude/XAU flat.Looking ahead, Canadian GDP (Oct), US Consumer Confidence & Durable Goods, supply from US.
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APAC stocks opened firmer across the board on a holiday-thinned week, following a similar performance from Wall Street on Friday.US government has enacted a budget to avert a shutdown, but the deal does not include President-elect Donald Trump's proposal to raise the federal borrowing limit.DXY was flat in a 107.68-84 range to start the holiday-thinned week, with quiet news flow; Crude futures showed an upward bias amid the positive risk tone.European equity futures indicate a flat/subdued cash open, with the Euro Stoxx 50 down 0.1% after cash closed -0.4% on Friday.Looking ahead, highlights include UK GDP (Q3), Canadian GDP (Oct), US Consumer Confidence & supply from the US.
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Stocks continue to slide on Quad Witching.USD gives back some of its FOMC-induced gains, JPY gains after the region’s inflation data and overnight jawboning.USTs and Bunds are incrementally firmer but ultimately contained into PCE and Fed speak.Crude continues to falter while base metals attempt a recovery.Looking ahead, US PCE, Canadian Retail Sales, Quad Witching, Fed's Williams, Daly & Hammack.
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European stocks tumble post-FOMC, MU -15% pre-market weighing on chip peers in Europe; US futures attempting to recoup yesterday’s losses.USD gives back some of yesterday's post-FOMC gains, JPY hit after BoJ Governor Ueda’s press conference.US yield curve steepens, JGBs outperform post-Ueda, Gilts lag pre-BoE.Crude lifts incrementally off Wednesday's lows, XAU fares better as the USD pauses for breath.Looking ahead, US Jobless Claims, Philly Fed Index, NZ Trade Balance, Japanese CPI, BoE, CNB, Banxico Policy Announcements, Earnings from Accenture, Cintas, Conagra Brands, Nike, FedEx, BlackBerry.
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The Fed cut rates by 25bps, as expected, to 4.25-4.5% in an 11-1 split, with Hammack voting to leave rates unchanged; the median dot plot for 2025 and 2026 FFR forecasts were lifted above expectations.Fed Chair Powell said the decision was a "closer call", but the "right call", suggesting there was a discussion surrounding holding rates at this meeting, and that "extent and timing language" shows Fed is at or near the point of slowing rate cuts, and the slower pace of cuts reflects expectation. APAC stocks traded with losses across the board amid the fallout from the hawkish Fed, as sentiment from Wall Street reverberated to the region.BoJ maintained its rate at 0.25% as expected, with an 8-1 vote; Board Member Tamura dissented, advocating for a 25bps hike to 0.50%; eyes on Governor Ueda's presser.European equity futures are indicative of a softer open following the late selling stateside, with the Euro Stoxx 50 future -1.6% after cash closed +0.3% on Wednesday. Looking ahead, highlights include US Jobless Claims, Philly Fed Index, NZ Trade Balance, Japanese CPI, BoE, Riksbank, Norges, CNB, Banxico Policy Announcements, BoJ Governor Ueda, Norges Bank’s Bache, Riksbank’s Theeden, Supply from the UK.
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European bourses are modestly on the front foot; US futures follow suit ahead of the FOMC decision.USD broadly firmer vs. peers ahead of FOMC, GBP lower post-inflation.USTs are contained, Bunds dip lower and reside at session lows.Crude recovers from Tuesday's pressure, metals contained.Looking ahead, US Building Permits, FOMC Announcement and Chair Powell's Press Conference, Earnings from General Mills, Jabil, Micron, and Lennar.
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APAC stocks eventually traded mixed with sentiment somewhat cautious following the negative lead from Wall Street.US assets traded sideways overnight as the focus turns to the FOMC announcement and Chair Powell's press conference.Bitcoin saw hefty losses overnight as prices retreated to under USD 104,000 despite a lack of newsflow.Honda Motor (7267 JT/HMC) and Nissan (7201 JT/NSANY) to begin merger talks amid EV competition, according to Nikkei.European equity futures are indicative of a flat/subdued open with the Euro Stoxx 50 future -0.1% after cash closed -0.1% on Tuesday.Looking ahead, highlights include UK CPI, EZ CPI (Final), US Building Permits, FOMC Announcement and Chair Powell's Press Conference, ECB’s Lane, Earnings from General Mills, Jabil, Micron, and Lennar.
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European bourses are mostly in the red, but sentiment has improved a touch since the cash open; US futures modestly lower.DXY back above 107.00, GBP posted early gains after hot wages data.Gilts lag as UK wage data essentially removes any chance of a Dec. BoE cut ahead of CPI; USTs a little lower ahead of US Retail Sales.Commodities succumb to the tepid risk tone and ongoing USD strength.Looking ahead, US Retail Sales, Canadian Inflation, US Industrial Production, Japanese Trade Balance, NBH Policy Announcement, Supply from the US.
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APAC stocks eventually traded mixed after the region initially showed a positive bias, taking cues from Wall Street, and in the absence of macro newsflow with looming risk events.DXY fluctuated in a narrow range whilst USD/JPY was choppy on either side of 154.00 and Antipodeans were subdued.China is to maintain a growth target of "around 5%" for 2025, according to Reuters sources. China is to target a budget deficit of 4% in 2025 (vs 3% initially).European equity futures are indicative of a subdued open, with the Euro Stoxx 50 future -0.2% after cash closed -0.5% on Monday.Looking ahead, highlights include UK Jobs, German Ifo, German ZEW Survey, US Retail Sales, Canadian Inflation, US Industrial Production, Japanese Trade Balance, NBH Policy Announcement, ECB’s Elderson, Supply from the UK and the US.Click for the Newsquawk Week Ahead.
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European bourses are mostly lower; US futures are modestly in the green.DXY is flat, and GBP strengthens post-PMI while the JPY lags a touch.EGBs softer with OATs underperforming slightly post-Moody's downgrade, PMIs in focus.Crude slips amid a tepid risk tone, metals largely contained.Looking ahead, US Flash PMIs, ECB's Schnabel and BoC’s Macklem.
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APAC stocks saw an uninspiring start to the week following the mixed session on Wall Street on Friday and ahead of this week's risk events including the final FOMC, BoJ, and BoE meetings of the year.Moody's cut France’s rating to "Aa3" from "Aa2", outlook stable, in an unscheduled rating revision, citing political fragmentation.South Korean MPs have successfully voted to impeach President Yoon in their second attempt. Yoon was suspended from official duties on Saturday while PM Han is to continue as acting president, according to Yonhap.Bitcoin surged to fresh all-time highs above USD 106,000 and propped up the broader crypto market, with Ethereum rising above USD 4,000.Looking ahead, highlights include EZ, UK, US Flash PMIs, EZ Labour Costs, ECB President Lagarde, de Guindos, Schnabel, and BoC’s Macklem.Click for the Newsquawk Week Ahead.
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European bourses and US futures are generally firmer with specifics light, diverging from soft APAC trade; AVGO +15%.DXY trades around 107.00, GBP hit by soft GDP, JPY lags.Fixed benchmarks in the red post-ECB and ahead of a blockbuster week.Commodities contained, focus remains on geopols after Russian strikes on Ukrainian infrastructure and Blinken comments.Looking ahead, US Import/Export Prices, and Baker Hughes Rig Count.
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APAC stocks traded lower across the board following a similar session on Wall Street, whilst sentiment was also hit after the Chinese Economic Work ConferenceES and NQ traded with gains overnight as SPX and NDX constituent Broadcom (AVGO) surged 14% post-earningsDXY held an upward bias and extended on gains after the incursion into 107.00 territory in late US trade; USD/JPY rose above 153.00European equity futures are indicative of a subdued cash open with the Euro Stoxx 50 future -0.2% after cash closed +0.1% on ThursdayLooking ahead, highlights include German Trade Balance, UK GDP, EU Industrial Production, US Import/Export Prices, and Baker Hughes Rig CountClick for the Newsquawk Week Ahead.
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European bourses are mixed into the ECB, SMI outperforms post-SNB. US futures are modestly softer.SNB delivered a larger-than-expected 50bps cut and reiterated a willingness to intervene in the FX market as necessary.USD steady with peers and for the most part contained aside from CHF underperformance and Antipodean outperformance, AUD driven by jobs data.Fixed benchmarks are at/towards session lows into the ECB and US data thereafter, stateside yields are bid and the curve steeper.Crude in the green but only modestly so, base metals are little changed overall.Looking ahead, ECB Policy Announcement, ECB Press Conference, US PPI, US Initial Jobless Claims, Japanese Tankan Survey, Supply from the US, Earnings from Broadcom, Costco.
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APAC stocks eventually mimicked the sentiment on Wall Street and traded mostly higher following a slow start to the session and despite a lack of macro news flow.DXY was flat whilst JPY saw mild strength and AUD was boosted by a strong Aussie jobs report after a dovish RBA.US President-elect Trump has invited Chinese President Xi to attend his inauguration next month; it was not clear whether Xi has accepted the invitation, according to CBS sources.European equity futures are indicative of a flat cash open with the Euro Stoxx 50 future +0.1% after cash closed +0.2% on Wednesday.Looking ahead, highlights include SNB & ECB Policy Announcements, ECB Press Conference, IEA OMR, US PPI, US Initial Jobless Claims, Japanese Tankan Survey, Supply from US, Italy, Earnings from Broadcom, Costco.
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European bourses began the session entirely in the red, but sentiment has improved to display a mixed picture; NQ incrementally outperforms in the US.Dollar bid as markets digest reports of China allowing a weaker yuan, JPY choppy amid BoJ sources.China's top policymakers are considering allowing the Yuan to weaken in 2025 as Trump tariff looms, via Reuters citing sourcesMixed performance for paper, US 10yr supply looms.Crude initially hampered by Yuan-reports, but has since pared with crude now at session highs; metals on the backfoot.Looking ahead, US CPI, BoC & BCB Policy Announcement, BoC Governor Macklem, Rogers, supply from the US, Earnings from Macy's, and Adobe.
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APAC stocks traded mixed following a soft US handover, although Chinese markets continued to benefit from the easing in China's overall monetary policy stance.DXY and UST futures were flat within a tight range as traders look towards the US CPI release ahead of next week's FOMC meeting.Crude futures were firmer in a continuation of the China optimism; upside was experienced following reports that the US is weighing harsher oil sanctions against Russia weeks before Trump returns to office.European equity futures are indicative of a subdued cash open with the Euro Stoxx 50 future -0.1% after cash closed -0.7% on Tuesday.Looking ahead, highlights include US CPI, BoC & BCB Policy Announcement, BoC Governor Macklem, Rogers, supply from UK and US.
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European bourses are mostly on the backfoot; US futures trade indecisively around the unchanged mark.USD outmuscles peers, AUD lags after the RBA delivered a dovish hold.Choppy trade for European paper, US awaits 3yr supply.Crude edges slightly lower and base metals pare back recent strength.Looking ahead, US Unit Labor Costs Revision, EIA STEO, Supply from US.
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