Newsquawk Rundown, Daily Podcast

APAC stocks took impetus from the strong rally on Wall Street (SPX +3.06%, NDX +4.58%) after Fed Chair Powell’s speech.Fed Chair Powell said it makes sense to moderate the pace of interest rate hikes, adding he does not want to over-tighten but cutting rates is not something to do soon.Chinese Vice Premier Chunlan noted that the country’s fight against COVID is entering a new phase, while Caixin Manufacturing PMI topped...

European equities trade on a firmer footing following mixed leads from Wall St, with eyes set on Fed Chair PowellDXY under pressure after failing to surpass 107.00 overnight, Cable above 1.20 with antipodeans leadingYuan, base metals and COVID-sensitive areas supported following the latest China testing/restriction alterationsCore bonds dented as core EZ inflation fails to decline, USTs directionally in-fitting but little changed overall...

APAC stocks eventually traded mostly higher although gains were capped following the subdued handover from Wall St and disappointing Chinese PMI data.European equity futures were positive with the Euro Stoxx 50 future up 0.5% after the cash market closed flat yesterday.DXY ran out of steam ahead of 107, EUR/USD and Cable reside on 1.03 and 1.19 handles respectively, NZD outperforms.OPEC+ is likely to keep output levels flat at the Sunday...

European bourses trade mixed after the initial China-led optimism petered out in early European hours, Euro Stoxx 50 +0.2%.US futures are supported but off best levels ahead of Powell on Wednesday and data points thereafter, ES +0.3%USD remains underpinned above 106.00 after Monday’s Fed speak, but is softer overall with antipodeans leadingCrude benchmarks are bid on speculation around China’s COVID controls easing, with participants also...

APAC stocks were mostly positive with the improvement in risk appetite spurred after China protests were clamped down on by police.Fed's Bullard said markets are underpricing the risk that the Fed may be more aggressive, Williams sees a somewhat higher rate path in 2023 vs the September SEPs.European equity futures were slightly positive with the Euro Stoxx 50 future up 0.1% after the cash market closed down by 0.6% yesterday.DXY...

Cash bourses in Europe hold the downside bias seen across APAC stocks overnight which emanated from China reporting a record increase in COVID casesStateside, futures are under similar pressure with the ES below 4000USD is under pressure as the risk tone favours JPY & others, alongside month-end models pointing to USD sellingInitial haven bid in EGBs has faded ahead of Central Bank speak incl. President...

APAC stocks traded mostly lower with risk appetite sapped by the ongoing COVID-related issues in China which has resulted in public unrest.European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.6% after cash markets closed flat on Friday.DXY remains stuck on a 106 handle, EUR/USD lingers around 1.0350, JPY outperforms G10 FX, antipodeans lag.Crude declined with Brent beneath USD 82/bbl for the first time...

European bourses and US futures are near the unchanged mark with newsflow limited in holiday-sapped tradeDXY has experienced a resurgence to 106+ parameters, aided by the PBoC cutting the RRR as toutedCore fixed is under pressure with Bund’s below yesterday’s trough though holding onto the 141.00 mark; USTs in-fitting directionallyCrude benchmarks have been grinding higher despite the USD pickup and further China COVID controls, oil price...

APAC stocks traded mixed with price action mostly rangebound amid a lack of notable newsflow and Wall St. trade.European equity futures were uneventful with the Euro Stoxx 50 future -0.1% after cash market closed up by 0.4% yesterday.DXY remains on a 105 handle, EUR/USD holds on to 1.04 status, G10 FX is overall relatively contained.Crude was marginally higher as top OPEC producers reaffirmed sticking to the OPEC+...

APAC stocks followed suit to the gains on Wall St with risk sentiment underpinned following the FOMC Minutes which supported the view for the Fed to shift to smaller rate hike increments.China reported daily new COVID-19 cases in the mainland reached a record high and ordered a lockdown in Zhengzhou following violent protests.European equity futures are essentially unchanged in thin trade ahead of numerous Central Bank speakers.DXY is on...