Newsquawk Rundown, Daily Podcast

European bourses are subdued as newsflow slows, while US futures remain firmer with a quiet stateside schedule aheadOPEC+ unanimously agreed to extend current cuts for one month through July and will review if a longer extension is needed this monthSaudi raised selling prices to Asia by between USD 5.60-7.30, while Storm Cristobal also prompted the evacuation of platforms and rigs in the Gulf of MexicoTrade figures from China mostly topped estimates with a record trade surplus in USD terms and a...

Sentiment remains strong after a choppy APAC handover; albeit, US futures have been drifting lower following remarks from ChinaChina has vowed to take countermeasures against the US move to sanction 33 Chinese firms and institutionsOPEC+ ministerial meeting is now planned for June 6th after Iraq, and other non-complying countries pledge better commitment to the oil cutsUK and EU officials are reportedly set to end Brexit talks this week without coming to an agreement on the terms of their future...

Asian equity markets were choppy with the region cautious following a mostly negative handover from Wall St. and as participants await the looming NFP reportUSTR Lighthizer said he feels very good about the Phase 1 US-China trade deal and that the report that China was not honouring the soybean purchases was falseUK and EU officials are reportedly set to end Brexit talks this week without coming to an agreement on the terms of their future relationshipIn FX, DXY enters the EU session softer with...

Sentiment has slipped in a quiet session after a positive APAC handover as the OPEC meeting is seemingly delayed and with risk events loomingEnergy Journalist Reza Zandi says the OPEC+ meeting is unlikely to be held today amid complicated negotiations for compliancePresident Trump stated that he does not think they will need to send the military in response to protestsChina's Agricultural Ministry confirms they are continuing to purchase US soybeansLooking ahead, highlights include ECB...

Asian stocks were mostly higher as the region partially upheld the firm handover from Wall St; S&P 500 +1.36%Chinese state-controlled companies reportedly cancelled some shipments from US farm exporters, according to WSJUS President Trump's administration selected Moderna (MRNA), AstraZeneca (AZN), Johnson & Johnson (JNJ), Merck (MRK) and Pfizer (PFE) as COVID-19 vaccine candidate finalistsGerman Chancellor Merkel's ruling coalition reached a deal on the German stimulus package with an...

Sentiment remains strong after a positive APAC handover, US futures firmer but have been driftingSaudi Arabia and Russia reportedly agreed on a preliminary 1-month extension on existing OPEC+ oil cuts, according to sources; meeting conditional on countries compensating for compliance aheadCrude was firmer in-line with overall sentiment; however, above remarks knocked the benchmarks into negative territoryUS President Trump reportedly appeared to be backing away from invoking the Insurrection Act...

Asian equity markets traded higher across the board as the region took impetus from the energy-led gains on Wall St.Chinese Caixin Services and Composite PMIs printed their largest expansions in nearly a decadeDXY continued to weaken and fell below the 97.50 level, EUR/USD breached 1.1200 and GBP/USD briefly took 1.2600 to the upsideOPEC+ oil cut extension talks are said to be complicated by Saudi and Russia hagglingUS President Trump reportedly appeared to be backing away from invoking...

China's Foreign Ministry says there is no information relating to a soybean halt and reports indicate soybeans from the most recent crop were sold to China state-buyersSentiment strengthens after a tentative APAC lead bolstered by soybean updates, US futures higher by 0.6% as DXY deteriorates and US Treasury curve beginning to modestly steepenTrump stated he is mobilizing civilian and military resources to stop the rioting and warned he will deploy the military to states if local law enforcement cannot...

Asian equity markets traded with cautious gains following the positive performance on Wall St but with upside limited after US President Trump’s latest speechTrump stated he is mobilizing civilian and military resources to stop the rioting and warned he will deploy the military to states if local law enforcement cannot curb protestsUK could signal a willingness for a compromise on fisheries and level playing field trade rules if the EU drops its maximalist approachThe DXY remained lacklustre...

China is reportedly to halt some US Soy imports as tensions are increasing, according to sources; with Beijing reportedly waiting to see what steps Trump takes before deciding its next moveUS futures dropped into, and remain in, negative territory on these reports which also bolstered the USD and USTsChina's Foreign Ministry, responding to the US ending preferential treatment for Hong Kong, will have firm countermeasures. Adding, they firmly oppose such actions and it is an interference in internal...