Newsquawk Rundown, Daily Podcast

European bourses are elevated this morning shaking off the mixed APAC handover and taking direction from Wall St.US Secretary of State Pompeo said to expect an administration announcement in the coming days or weeks on ChinaUS House Speaker Pelosi’s office that there was no agreement on areas of funding Treasury Secretary Mnuchin testified aboutFX sees the USD firmer but within a relatively narrow range to the detriment of major peers with EUR downside exacerbated via EUR/GBPLooking...

Asian equity markets were mixed as the region partially sustained the momentum from the fresh record highs on Wall St.In FX markets, the DXY has reclaimed 92.00, EUR/USD sits just above 1.19 and GBP/USD trades just below 1.34ECB’s Lane says the ECB does not target the FX rate but the EUR/USD rate does matterFed's Brainard suggested the importance is for Fed policy to pivot to accommodation from stabilisation in the coming monthsLooking ahead, highlights include US ADP Employment, Factory...

Stocks have been modestly choppy but generally rangebound throughout the morning; currently, US futures are firmer with Nasdaq outperformanceChina’s Caixin Manufacturing PMI beat & EZ CPI dropped into negative territoryUS Treasury Secretary Mnuchin said House Speaker Pelosi and Senate Minority Leader Schumer do not want to negotiate in good faith regarding COVID-19 relief legislationRBA left policy U/C overnight and reiterated forward...

Asian equities traded cautiously as the region took its cue from the losses seen across most global counterpartsChinese Caixin Manufacturing PMI (Aug) 53.1 vs. Exp. 52.6 (Prev. 52.8); highest since January 2011USD-selling persisted in Asia trade in which the DXY retreated below 92.00 to extend on 2-year lowsRBA left the Cash Rate Target unchanged at 0.25% and the 3yr yield target at 25bps as expectedEU Chief Brexit Negotiator Barnier is unwilling to open discussions on Britain’s latest...

European bourses are modestly firmer but off highs as month-end approachesDXY is attempting to stage a recovery as FX peers remain mixed amidst the UK Summer Bank HolidayUS FDA Commissioner Hahn commented that he is willing to fast track a vaccine for COVID-19Chinese PLA troops reportedly violated previous consensus achieved between China & India and undertook a provocative military movementChinese PMIs were mixed but all remained in expansionary territory for AugustLooking...

Asian equity markets were mostly higher amid tailwinds from last Friday’s gains on Wall St; Japan outperformedByteDance will need the Chinese government’s approval to sell TikTok’s US operationsUS is to declassify documents today which will provide detail regarding security assurances to TaiwanUK is reportedly prepared to walk away from Brexit trade discussions if the EU does not back down on its demand for UK to align with EU state aid...

Japanese PM Abe announced a surprise resignation due to ill health; will remain as PM until successor is announcedEuropean equities see mixed trade, with futures modestly softer, whilst E-mini S&P briefly topped 3,500USD/JPY fell in wake of news of PM Abe’s resignation; DXY losses accelerated amid JPY strength bolstering major peersBytedance instructed TikTok engineers to draw up US shutdown contingencies and that it is making separate plans to compensate TikTok's US employees and vendors...

Japanese PM Abe is reportedly planning to resign due to health reasons, according to NHK; press conference scheduled for 09:00BSTAsian bourses eventually traded mixed; E-mini S&P rose above 3,500, Nikkei 225 briefly fell as much as 2.5%USD/JPY fell in wake of news of PM Abe’s resignation; DXY losses accelerated amid JPY strengthChina’s military said a US warship has been expelled near the Paracel Islands in the South China...

European stocks drift lower despite a lack of fresh catalysts ahead of Fed Chair PowellUS Republicans are reportedly refining the new 'skinny' stimulus proposal which would not include stimulus checks and would be valued at USD 500blnUS Defense Secretary Esper said Beijing has repeatedly failed to keep promises to adhere to international lawsIn FX, DXY remains propped up around 93.00, antipodeans outperform; UST curve is fractionally flatterLooking ahead, highlights include US GDP (2nd...

Asian equity markets traded mixed after failing to take full impetus from the fresh record highs statesideUS Defense Secretary Esper said Beijing has repeatedly failed to keep promises to adhere to international laws, whilst a US official stated that US actions regarding the South China Sea are a mere startEU Trade Chief Hogan confirmed reports that he is to resign as EU Trade CommissionerUK officials have warned that negotiations with...