Newsquawk Rundown, Daily Podcast

European bourses trade with little in the way of firm direction following a similarly indecisive close on Wall Street yesterday.US equity futures are around flat with the ES holding above the 4400 mark.Fed Chair Powell revealed his expectations for Friday’s PCE data (Core PCE likely rose 4.7% Y/Y in May, overall PCE estimated to have risen 3.9%) and remarked that a strong majority of Fed policymakers see two or more rate rises by the end of this...

APAC stocks traded mixed amid some indecision heading closer towards month/quarter/half-year end and after the choppy performance stateside.US bank shares were marginally supported after-hours following the Fed's stress test results which all 23 of the largest banks passed.European equity futures are indicative of a flat open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.9% yesterday.DXY is back on a 103 handle,...

European bourses trade on the front foot as the region plays catch up to the afternoon gains on Wall Street.DXY defies gravity given negative rebalancing signals on spot month, Q1 and H1-end, as the index continued to pivot 102.50.Debt futures overcame several wobbles before establishing a more solid base to mount a firmer recovery from sub-par lows.WTI and Brent whipsawed between gains and losses this morning despite a lack of newsflow,...

APAC stocks traded mixed and only partially sustained the momentum from Wall St. which was led higher by tech. Softer-than-expected monthly CPI data from Australia added to the bets for the RBA to keep rates unchanged at next week’s meeting.European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 0.6% yesterday.DXY is a touch firmer above 102.50, AUD lags...

European bourses have been edging lower throughout the morning despite the enthusiasm seen ahead of the cash open, with the ECB Sintra Forum underway.DXY is on a softer footing intraday with the range on either side of 102.50, whilst prelim rebalancing models tilt Dollar-negative.Debt futures have extended their pull-back from yesterday’s best levels to deeper lows.WTI and Brent futures have given up the mild gains seen in early European...

US stocks finished predominantly lower with underperformance in the Nasdaq, whilst small caps were resilient and the Russell 2000 closed in the greenAPAC stocks were mostly positive as the risk tone improved following the predominantly negative handover from the USEuropean equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.2% yesterdayDXY is a touch softer but holding...

European bourses trade on the backfoot following on from the soft close in the US on Friday with losses having picked up since the cash open.DXY is caged to a tight range on either side of 102.75, EUR looks heavy after bleak German Ifo data, and Yen is among the outperformers.Safe havens are bid across the board, with bonds, precious metals, JPY and CHF on firmer.German Ifo Economist said the likelihood that the German economy will shrink...

APAC stocks traded mostly subdued after Friday's losses on Wall St with weekend newsflow dominated by the brief uprising of the Wagner Group in Russia.Wagner Group chief Prigozhin accepted a proposal by Belarusian President Lukashenko to stop the movement of his troops to Moscow.European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.2% after the cash market closed down 0.8% on Friday.In FX, DXY is...

Week Ahead June 26-30thMON: BoJ SOO, German Ifo Survey (Jun)TUE: Canadian CPI (May)WED: ECB TLTRO-III.4 Operation Matures, German GfK (Jul), Italian CPI (Jun)THU: Riksbank Announcement, Japanese Retail Sales (May), EZ Sentiment Survey (Jun), German Prelim. CPI (Jun), US GDP Final (Q1) and PCE (Q1)FRI: Japanese Tokyo CPI (Jun), Chinese NBS PMIs (Jun), German Unemployment (Jun), EZ...

European bourses trade on the backfoot with sentiment in the region subdued after the Flash PMIs sounded recessionary warnings.US equity futures are also lower on the session with the ES briefly dipping under 4,400.Havens (ex-CHF) are bid on the back of the risk aversion while industrial commodities take a hit on growth concerns.Fed's Barkin (non-voter) said he is comfortable with more hikes if inflation is not heading to the goal but he...