Newsquawk Rundown, Daily Podcast

Asian equity markets traded somewhat indecisively following a lacklustre handover from Wall StModerna has stated that its COVID-19 vaccine is able to induce a robust immune response and protect against infection in non-human primatesThe DXY just about snapped a 7-day losing streak yesterday although has since given back some gainsUS President Trump said there are some parts of the Republican coronavirus relief bill he does not support but didn’t specify which partsIt was also reported...

Equities have slipped ahead of US’ entrance following mixed APAC trade and a largely directionless European sessionXAU lost some of its shine dropping some USD 70/oz through the session with a number of factors cited as plausible driversSenate Republicans unveiled their stimulus plan in which enhanced unemployment insurance will continue at a reduced amount of USD 200/weekSenate Minority Leader Schumer said the GOP COVID-19 plan is...

Asia-Pac stocks traded mostly higher but initial optimism abated; Nikkei 225 laggedSenate Republicans unveiled their stimulus plan which was met with Democratic resistanceNew Zealand is suspending the extradition treaty with Hong Kong following the imposition of the National Security LawUK PM Johnson has warned of the risk of a second wave of COVID-19 this autumn, but stressed the government will seek to avoid a national lockdownIn FX, DXY gained traction towards the end of the session...

European bourses are indecisive as travel names suffer as UK implements a quarantine for Spain while heavyweight SAP supports tech post-earningsUK government announced a 14-day quarantine rule for anyone arriving from Spain; France & Germany also on the radarWhite House Chief of Staff Meadows said the WH and Senate Republicans have reached a deal "in principle" on the next COVID-19 relief package, likely to be released todayChinese military began live-fire drills in the South China Sea on...

Asia-Pac traded choppy as initial optimism petered out, Nikkei underperformed on catch-up playThe US flag was lowered at its Chengdu consulate in China shortly after the closure deadline; Chinese military began live-fire drills in the South China Sea on SaturdayWhite House Chief of Staff Meadows said the WH and Senate Republicans have reached a deal "in principle" on the next COVID-19 relief package, likely to be released todayUK government announced a 14-day quarantine rule for anyone arriving...

Sentiment in Europe remains subdued but has picked up a touch following positive flash PMIsChina has confirmed it will be asking the US to close the Chengdu consulate in response to the closure of the Chinese consulate in USEU Commission says the Airbus agreement to modify subsidy scheme achieves full compliance with WTO rulings, removing any grounds for the US to maintain countermeasures on EU exportsEU Commission states it is urgent that EU countries mitigate the risk of dependency on high-risk 5G...

Asia-Pac stocks traded lower across the board after a similar performance on Wall St; Mainland China underperformedChina has confirmed it will be asking the US to close the Chengdu consulate in response to the closure of the Chinese consulate in US, as speculatedThe head of the Chinese consulate in Houston will not commit to closing the office by the Friday deadlineUS GOP stimulus bill likely will not be released until Monday amid disagreements over jobless benefits and other issuesIn...

Sentiment remains supported after strong EU earnings & as US-China tensions haven’t escalated furtherUS President Trump said it is possible for more Chinese consulates in the US to be closed while China is reportedly moving to close the US consulate ChengduMSFT beat on EPS & revenue but trade lower in the pre-market while TSLA also beat and are now eligible for S&P 500 inclusion, +5% in pre-marketBrexit negotiations have reportedly not broken down, according to government sources, but...

Asia-Pac stocks traded mostly lower with Mainland China weighed on by the escalating tensions with USUS President Trump said it is possible for more Chinese consulates in the US are to be closedChina is reportedly moving to close the US consulate in Chengdu in retaliation for the closure of the Chinese diplomatic facility in Houston, sources statedUS prosecutors said the Chinese consulate in San Francisco is harbouring a Chinese military...

Sentiment remains softer after mixed APAC performance and US-China tensions, but US futures have begun to edge higherUS asked China to close their Houston consulate which prompted backlash from China and threats of retaliatory actionUS Treasury Secretary Mnuchin hopes to get a new COVID-19 bill passed by the end of JulyUS President Trump reiterated that COVID-19 vaccines are coming sooner than anyone thought possible & working on a very powerful strategyDXY was bolstered on Houston...