Newsquawk Rundown, Daily Podcast

European bourses are once again on the backfoot as the downtrend in the equity space continues without much in the way of fresh drivers.US equity futures are trading on the back foot as sentiment continues to slump, extending the downward price action seen yesterday.In FX, DXY is resilient, JPY outperforms on yield dynamics, GBP lags following softer-than-expected UK retail sales, whilst the CNY saw the largest gap between the PBoC fixing and...

APAC stocks traded mostly lower after the early reprieve from the recent global rout petered outEuropean equity futures are indicative of a slightly lower open with the Euro Stoxx 50 -0.1% after the cash market closed down by 1.3% yesterdayDXY is a touch softer but still firmly on a 103 handle, EUR/USD remains sub 1.09, JPY leads the majors as USD/JPY pulls back from 14610yr UST futures extended on the rebound from yesterday’s trough as...

European bourses trade on the backfoot after succumbing to the selling pressure seen Stateside and during APAC trade, while macro newsflow has been light.DXY faded from best levels after extending gains on the back of broad risk aversion, EUR sees several large option expiries, AUD underperforms after the Aussie jobs report.WTI and Brent front-month futures tilted higher this morning following APAC consolidation, with little in the way of fresh newsflow to drive...

FOMC minutes stated that most officials saw "significant" upside risks to inflation and could require further tightening; account was otherwise balanced.APAC stocks mostly suffered another day of selling and followed suit to the losses on Wall St, participants also reflected on several weak data releases from the region.European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.6% after the cash market closed down by 0.1%...

European bourses trade mixed after opening after shrugging off mild broad-based opening losses with no obvious catalyst behind the move at the time.DXY is softer and trades on either side of 103.00, T-note futures hold near overnight peaks, US equity futures are trading flat with a positive bias ahead of FOMC minutes.GBP and NZD outperform, the former following hotter-than-expected UK inflation and the latter after RBNZ left rates unchanged but upped the OCR...

US stocks closed lower with the S&P 500 closing below its 50DMA for the first time since MarchAPAC stocks were pressured following the declines on Wall St amid the broad risk-off moodEuropean equity futures are indicative of a weaker open with the Euro Stoxx 50 -0.3% after the cash market closed down by 1.0% yesterdayRBNZ kept rates unchanged as expected and reiterated the OCR will need to remain at a restrictive level for the...

European bourses have been unable to hold onto modest opening gains, whilst there wasn’t a clear reason behind the pullback in global equities.Stateside are trading on the back foot, with ES and NQ giving back some of yesterday's gains after overnight data out of China disappointed.Fitch analysts warn it may be forced to downgrade dozens of banks, including JPMorgan Chase (JPM), according to CNBC. China's PBoC cut its 1-year MLF rate...

US stocks were mostly positive with outperformance in the Nasdaq amid the advances in Nvidia after MS named the stock a top pick.APAC stocks traded mixed as participants digested key releases including disappointing Chinese activity data and the PBoC’s surprise cuts to its 7-day Reverse Repo and 1-year MLF rates.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up by 0.2%...

European bourses trade on the front-foot after shrugging off opening losses which were in part a by-product of Chinese-related concerns overnight.Stateside, futures are trading slightly firmer ahead of a catalyst-thin docket, with the ES briefly topping 4,500.A partial pick-up in overall sentiment sapped some of the Greenback’s strength rather than any real change in fundamentals; G10s are flat.Debt futures regain composure after...

APAC stocks were pressured amid ongoing Chinese economic woes and developer default concernsGoldman Sachs expects the Fed to begin cutting rates by the end of June 2024 at a gradual pace, which it anticipates likely to be once per quarterEuropean equity futures are indicative of a lower open with the Euro Stoxx 50 -0.4% after the cash market closed down by 1.4% on FridayDXY is firmer and just below the 103 mark, USD/JPY briefly climbed...