Newsquawk Rundown, Daily Podcast

European bourses and US futures are modestly firmer but the overall tone is tentative pre-Jackson HoleUSD is bid but rangebound pre-Powell while EUR lags after dovish-leaning ECB sources, AUD outperforms as base metals liftCore benchmarks continue to pullback with Bunds entirely paring knee-jerk upside to sourcesECB sources report momentum is growing for a pause as recession fears increase, via ReutersCrude...

APAC stocks traded lower following the weak handover from global counterparts after the Nvidia-related euphoria wore off.European equity futures are indicative of a lower open with the Eurostoxx 50 future -0.3% after the cash market closed down 0.8% yesterday.DXY has extended upside above 104 and is firmer vs. peers, EUR/USD sits on a 1.07 handle whilst USD/JPY has reclaimed 146 status. ECB's Nagel stated it is much too early to...

Tech/NQ lead the equity space after NVDA earnings, +7.7% pre-market, as attention turns to Jackson HoleUSD has bounced from post-PMI lows, Antipodeans lag after recent outperformance & JPY unwinds recovery gainsEGBs/Gilts tested post-PMI bounds before running out of steam, USTs under modest pressureCrude has turned positive and nat gas benchmarks are off lows after Chevron’s vote update; TTF remains markedly pressured...

Nvidia rose 6.6% after-hours post-earnings after reporting solid Q2 profits and announcing an additional USD 25bln in buybacksAPAC stocks traded higher as the region took impetus from the gains on Wall St. and the Nvidia-induced rise in futures; ES +0.8%, NQ +1.3%European equity futures are indicative of a higher open with the Eurostoxx 50 future +0.7% after the cash market closed up by 0.2% yesterdayDXY is contained on a 103...

European bourses & US futures are firmer and back towards best as lower yields take precedence over European growth concernsGermany’s PMI saw a marked contraction for services and a bleak accompanying GDP nowcast, input costs increased in the EZ for the first time in 11 monthsUSD benefits as EUR & GBP decline following dire PMIs while JPY outperforms as yields tumbleMentioned data has trimmed the probability of ECB/BoE tightening,...

APAC stocks traded mixed amid a slew of earnings releases alongside the latest PMI data from the region but with price action relatively rangebound.Fed's Barkin (2024 voter) said the US economy could reaccelerate before inflation cools and he won't prejudge the outcome of the Fed's September meeting.DXY gave back some of the prior day’s gains, albeit with price action contained ahead of flash PMIs and the Fed’s Jackson Hole...

European bourses and US futures are firmer as the US tech-led rally reverberated into EuropeAPAC trade was more mixed, though a late-doors revival occurred in Chinese-stocks despite limited catalystsDXY continues to slip and nears 103.00 with Antipodeans benefitting from the risk tone pre-data while JPY gets respite from a stabilisation in yieldsFixed benchmarks have bounced firmly after Monday’s marked yield...

APAC stocks traded mixed following a similar performance stateside where tech rallied.WSJ's Timiraos tweeted that he believes Fed Chair Powell is unlikely to speak about higher neutral rates at the Jackson Hole Symposium.European equity futures are indicative of a higher open with the Eurostoxx 50 future +0.5% after the cash market closed up by 0.3% yesterday.DXY is a touch softer but still on a 103 handle, EUR/USD is back above 1.09,...

Equity bourses/futures have gradually improved throughout the morning after a contained European openAction which occurs in limited newsflow and follows mixed APAC on a disappointing LPR adjustment which overshadowed support measuresCrude and nat gas are bolstered by supply-side updates via the NHC and on Australian LNGUSD drifts in a contained start to the week, EUR eyes OpEx while the JPY is undermined by upside in US...

APAC stocks traded mixed as the disappointment from China’s decision on its Loan Prime Rates overshadowed its recent support efforts; Hong Kong underperformed.PBoC opted for a narrower-than-expected cut to the 1-year LPR alongside a surprise hold on the 5-year LPR, which is the reference rate for mortgages.PBoC and regulators met with bank executives and told lenders to boost loans to support the economic recovery, according to...