Newsquawk Rundown, Daily Podcast

European bourses are firmer across the board and largely unphased by numerous ECB speakersStateside, futures post modest gains and await the likes of Fed’s Waller and Barkin as the blackout liftsDXY has lifted off-lows with Yen assisting post-BoJ while EUR pivots OpEx and GBP continues to advanceFixed income experiences a modest and perhaps technically driven revival alongside notably less explicit Holzmann...

APAC stocks traded higher following the gains on Wall St where the major indices were lifted alongside a weaker dollar and softer yields.The BoJ refrained from any hawkish surprises and maintained its ultra-easy policy settings.European equity futures are indicative of a slightly higher open with the Euro Stoxx 50 +0.1% after the cash market closed down 0.3% yesterday.DXY is contained following yesterday's heavy losses, JPY is the laggard...

European bourses & US futures trade on the backfoot post-FOMC and pre-ECBDXY propped up, AUD outperforms following a strong jobs report whilst NZD lags as it enters a recessionJPY majorly lags on the prospect of even wider BoJ-Fed divergence ahead of Friday’s meetingCore benchmarks slip and extend on post-Fed declines whilst European supply was well receivedBase/industrial metals dented on softer Chinese...

The Fed left rates unchanged as expected whilst revising the dot plots higher which are now indicative of two more 25bp hikes this year.Fed Chair Powell distanced himself from the dot plots in the press conference whereby he noted that projections are not a plan or a decision.US stocks finished mixed, APAC stocks traded mostly higher despite disappointing activity data from China; PBoC cut its 1-year MLF rates by 10bps.European...

Equity bourses are firmer with the general risk tone constructive pre-FOMCUSD continues to wane and nears 103.00 to the modest benefit of peers, Antipodeans lead G10sGBP is firmer post-GDP while EUR/USD is drawn to hefty 1.08 expiriesUSTs bid before the Fed, Bunds slip after soft issuance and Gilts attempt to recoup from recent pressureCrude consolidation continues, metals are mixed with fresh drivers...

APAC stocks were somewhat mixed with the region's bourses mostly tentative despite gains on Wall Street.US stocks were firmer after the latest CPI data all but confirmed the likelihood of an unchanged Fed rate.European equity futures are indicative of a softer open with the Euro Stoxx 50 -0.1% after the cash market closed up 0.7% yesterday.DXY is contained ahead of the FOMC, EUR/USD lingers below 1.08, GBP/USD maintains 1.26...

Analysts unanimously expect the ECB to raise the deposit rate by 25bps to 3.5%. Despite recent drops in Eurozone CPI and inflation expectations, President Lagarde has insisted that inflation remains too high. Market expectations lean towards another 25bps increase in July, with the ECB likely to continue emphasizing its data-dependent approach. In its previous meeting, the ECB slowed its rate hike cadence to 25bps. The Governing Council decided to cease reinvestments under the APP from July 2023, possibly to balance views...

The Federal Open Market Committee (FOMC) is likely to keep the Federal Funds rate between 5-5.25%, as per most economists. The May US CPI data saw headline year-on-year and month-on-month surprise to the downside by 0.1 percentage point apiece, printing at 4.0% and 0.1% respectively. However, the core metrics printed in-line with forecasts at 5.3% and 0.4% respectively. Since the US CPI release, markets now price in 5% chance of a 25bps hike in June, versus a 25% chance before the CPI data, whilst chances of a July hike also...

European bourses & US futures are firmer but off best levels in a continuation of Monday’s action and ahead of US CPINQ is the outperformer as the tech sector benefits from Oracle strength post-earningsUSD dips pre-inflation while GBP lifts post-jobs/wages, Yuan attempts to recover after PBoC actionGilts continue to lag, impacted by data, supply and BoE rhetoric while USTs are once again more containedCrude...

APAC stocks eventually traded mostly higher following the gains on Wall St where the S&P 500 and Nasdaq 100 notched fresh YTD highs.Nikkei 225 resumed its outperformance and breached the 33,000 level for the first time in over three decades.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.7% after the cash market closed up 0.6% yesterday.DXY is a touch softer in quiet trade, EUR/USD is capped by...