Newsquawk Rundown, Daily Podcast

APAC stocks headed into month-end mostly on the front foot as participants digested the latest support efforts from China and mixed PMI data.Chinese headline Manufacturing PMI slightly topped forecasts but remained in contraction territory and Non-Manufacturing PMI disappointed with the slowest pace of increase since December 2022.European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.5% after the cash market closed up by 0.4% on...

Week Ahead July 31st - August 4thMON: Japanese Retail Sales (Jun), Chinese Official PMI (Jul), German Flash GDP (Q2), New Zealand Labour Cost Index (Q2)TUE: RBA Announcement, Chinese Caixin Manufacturing Final PMI (Jul), German/EZ Unemployment Rates (Jul), EZ/UK/US Final Manufacturing PMIs (Jul), US ISM Manufacturing PMI (Jul), New Zealand Jobs Report (Q2)WED: BCB Announcement, US ADP Employment (Jul)THU:...

BoJ kept monetary policy settings unchanged but announced it will guide YCC more flexibly with fixed rate operations for 10yr JGB to be conducted at 1.0% (prev. 0.5%).At the post-meeting presser, BoJ Governor Ueda emphasised the need for continued monetary easing, stating that the bank is prepared to further ease policy if required.European equities are a mixed bag as the dust settles on yesterday’s ECB announcement and the overnight BoJ...

BoJ kept monetary policy settings unchanged but announced it will guide YCC more flexibly with fixed rate operations for 10yr JGB to be conducted at 1.0% (prev. 50bps).APAC stocks are mixed with underperformance in the Nikkei 225 as markets digest the fallout from the BoJ.European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.4% after the cash market closed up by 2.3% yesterday.JPY is the standout outperformer in...

European bourses in the green in a continuation of APAC trade with a blockbuster earnings docket influencingUS futures firmer and the NQ outperforms following Meta’s after-hours report, META +8.3%DXY pressured to near 100.50 with EUR & JPY taking advantage ahead of their rate decisions, Antipodeans lead given risk sentimentCrude benchmarks bid intraday given risk & USD, with both precious and base metals...

The Fed hiked rates by 25bps to 5.25%-5.50%, as expected, with the statement a copy & paste job from June.Markets initially perceived the presser as dovish after Powell avoided committing to future rate hikes and stressed a data-dependent approach.US equity futures edged higher overnight with NQ boosted by Meta shares post-earnings, APAC stocks were also firmer.European equity futures are indicative of a higher open with the Euro...

European bourses are generally subdued with the Euro Stoxx 50 weighed on by LVMH -4.4%Stateside, futures are more contained pre-FOMC and as participants digest after-hours MSFT & GOOGL updatesDXY continues to slip amid ongoing JPY strength with EUR benefitting as the three regions near policy announcements; AUD lags post-CPICrude benchmarks a touch softer intraday after Tuesday’s multi-month peaks with base metals in-fitting, XAU...

APAC stocks traded mixed with most bourses lacking firm direction heading into the FOMC later today.European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.4% after the cash market closed up by 0.2% yesterday.DXY was contained on a 101 handle, EUR/USD languished below 1.11, Cable eyes 1.29, AUD soft post-CPI.Softer-than-expected inflation data from Australia supported the argument for the RBA to continue its...

Summary: The Fed is widely expected to hike rates 25bps in July, taking the target for the Federal Funds Rate to 5.25-5.50%. Markets, and the majority of economists, expect this to be the peak of the hiking cycle, despite Fed guidance for two more rate rises this year (including July). Therefore, attention will lie heavily on any guidance from Powell in his press conference, but he is likely to reiterate a data-dependent approach and not commit to any future decisions, noting they will be taking each meeting as...

European bourses & US futures are incrementally positive ahead of numerous key earnings from both sides of the pondDXY slipped to 101.18 before deriving support from an Ifo/ECB BLS driven hit to the Euro, AUD leads pre-CPICore benchmarks are modestly pressured as earlier upside dissipates despite a strong DMO sale, US 5yr dueGerman Ifo shows a return to growth contraction in Q3 while the ECB survey illustrates the ongoing impact of...