Newsquawk Rundown, Daily Podcast

Asian equity markets steadily deteriorated as the initial emboldenment from the rebound on Wall St gradually fadedNovavax vaccine was 89% effective against COVID-19, according to a UK study. However, efficacy was 60% in a South African TrialIn FX, the DXY recouped some lost ground overnight, EUR/USD hovers around 1.21, GBP/USD trades near the 1.37 markUS Senate panel is to hold a hearing on the current state of the stock market in wake of...

Equity indices were pressured from the European cash open in a continuation of APAC performance; subsequently, this downside intensified though we are currently well off lows - Euro Stoxx 50 -0.3%, ES -0.1%Apple -3%, Facebook -1% & Tesla -6% all reported after the close with pressure attributed to the lack of/vague guidance from Apple; as such, the NQ -0.7% is the morning's underperformerECB’s Rehn says policy tools can be adjusted if required; inflation...

FOMC left rates unchanged and maintained the size of its asset purchase programme, as expectedFOMC noted that the pace of US economic activity and employment moderated in recent monthsAsia-Pac indices were negative on spillover selling from the US where stocks had their worst day since OctoberBetter-than-expected earnings from tech giants Apple and Facebook failed to provide any meaningful reprieveIn FX, the DXY...

European bourses began the session indecisive following a mixed APAC handover but subsequently selling pressure has intensified; Euro Stoxx 50 -1.4%, ES -0.6% though NQ (U/C) outerperforms somewhat post-MSFTMSFT beat on top and bottom lines and are +2.8% in the pre-market while chip names have been pressured post AMD & TXN; in Europe, LVMH initially bolstered luxuries but has succumbed to the general sentimentECB's Knot says we have the tools...

Asian equities traded mixed and attempted to shrug off the weak handover from the US where there was a slight negative biasA late boost was seen in Nasdaq 100 futures after-hours due to strong results from Microsoft which beat on top and bottom linesECB will reportedly query dollar weakness and is to monitor the impact on FX from ECB vs Fed policiesItaly's Conte said he wants backing for a government of "national rescue" and is seeking a...

European bourses were initially mixed following the subdued APAC lead but have since experienced notable upside amid a lack of fresh catalysts; Euro Stoxx 50 +1.4%, ES U/CItalian PM Conte has reportedly informed his cabinet of his intention to resign and is to meet with President Mattarella on the matter todayUS Senate Democrat Leader Schumer said they will attempt to pass President Biden's COVID-19 bill through the budget reconciliation process if the GOP block...

Asian equity markets declined across the board with sentiment subdued after the flimsy risk appetite amongst global peersItalian PM Conte has convened a cabinet meeting for Tuesday to inform ministers he is resigning; will likely seek to form a new governmentIn FX, the USD is broadly firmer against major peers with activity currencies lagging against the greenbackUS Senate Democrat Leader Schumer said they will attempt to pass President...

European indices faded opening gains in-light of a subdued German Ifo print and in contrast to the firmer APAC handover; Euro Stoxx 50 -0.1%, ES +0.2%German Ifo (Jan) readings missed expectations and dropped from the prior with the institute noting services continues to represent the majority of the declineEUR was hampered post-Ifo lifting the DXY into positive territory and applying pressure on major counterparts though magnitudes are slim at...

Asian equity markets began the week with a mildly positive tilt whilst US equity futures rebounded from Friday’s losses, although upside was limitedIn FX, the DXY heads into the EU session softer, prompting support in major counterparts with GBP/USD reclaiming 1.37 statusChina is looking for a meeting of its top diplomat with senior aides in the Biden administration, according to WSJIraq plans to reduce oil output in January and February...

Indices remain pressured following cautious APAC trade with downside exacerbated by the deterioration in oil; Euro Stoxx 50 -1.2%, ES -0.7%The EUR saw a resurgence following the German PMIs with EUR/USD just below 1.2200 at best to the detriment of the DXY paring its advances and bolstering FX peers; though, GBP was hindered post-UK dataIntel beat on EPS and revenue making gains just before the close before paring to trade lower by 4% in the pre-market while IBM's...