Newsquawk Rundown, Daily Podcast

Asian equity markets initially traded indecisively before moving into broadly positive territoryThe session saw mixed Chinese data in which Industrial Production topped estimates but Retail Sales disappointedThe DXY traded choppy beneath resistance at 100.50, EUR/USD rangebound above 1.0800, GBP/USD consolidated above 1.2200US Senate passed legislation to impose sanctions on China over human rights abuses against Uighur MuslimsThe White House will likely support a fresh round of stimulus...

European bourses follow, and extend on, the negative APAC lead; US futures have been either side of U/C throughout the sessionUS President Trump is reportedly looking into Chinese Co’s listed on NYSE and NASDAQ, adds he is very disappointed in China and reiterated preference for NIRPTrump said it is a great time to have a strong USD; remarks which sent the DXY to fresh session highs just shy of the 100.44 May peakUK is drawing up plans to reduce tariffs on US agricultural imports to advance...

Asian stocks traded negatively with global risk appetite dampened by ongoing US-China tensions and questions about reopening effortsChina will soon impose countermeasures on US individuals and entities filing lawsuits seeking COVID-19 damages from China, according to sourcesUS President Trump extended the executive order protecting the US supply chain from Huawei and ZTE for an additional year, according to a statementUS President Trump...

European bourses remain in proximity to negative opening levels while US futures are modestly firmer ahead of Fed Chair Powell before the openUS Republican Senators proposed legislation which would empower President Trump to impose sanctions on China if it does not provide a "full accounting" for the coronavirus outbreak.Ahead of Powell (preview on Newsquawk feed), Fed’s Mester (Voter) said she would like to stay away from negative rates because it would impact money markets and suggested that negative...

Asian equity markets were mostly negative following the late slump on Wall St. with sentiment soured over second wave fears and US-China tensionsRepublican Senators proposed legislation which would empower President Trump to impose sanctions on China if it does not provide a "full accounting" for the coronavirus outbreakUS House Democrats are reportedly moving ahead with a new stimulus bill worth more than USD 3tlnUK is on course for a budget deficit of GBP 337bln this year compared to the GBP...

European bourses opened marginally lower but have since been bolstered as US participants enter the fray; US futures firmer as suchUS President Trump stated he is not happy with China and that he is not interested in reopening the US-China trade dealChina's Finance Ministry have released a second list of tariff waivers for some US goods; exemptions will last 1-year from May 19thNY Fed said the Secondary Market Corporate Credit Facility...

Asian equity markets traded cautiously following the indecisive performance of Wall St peers as US-China trade concerns resurfacedUS President Trump stated he is not happy with China and that he is not interested in reopening the US-China trade dealDXY extended on gains above 100.00, EUR/USD and GBP/USD briefly slipped below 1.0800 and 1.2300 respectively, AUD lagsFed’s Bostic and Evans both pushed back against the idea of negative rates for the USUK Brexit negotiators are to reportedly...

European bourses are softer in-spite of a modestly firmer open, given APAC performance, as sentiment has faded throughout a quiet session – US futures exhibiting similar pressureUS source familiar with recent discussions stated US officials acknowledged China was largely delivering its pledges on structural issues, reports noted that a Chinese government adviser suggested the deal itself was fragileFrench Finance Minister said the Eurogroup have reached a deal on a EUR 240bln Treasury line for countries...

Asian equity markets begun the week on the front foot after last Friday’s gains on Wall StUS source familiar with recent discussions stated US officials acknowledged China was largely delivering its pledges on structural issuesUS Chamber of Commerce called on China to dramatically accelerate purchases of US goods under the Phase One trade dealJapan is reportedly considering lifting the state of emergency declaration in most prefectures this monthUK PM Johnson outlined a conditional...

Sentiment remains positive on trade updates in quiet markets so far ahead of NFPChinese Vice Premier Liu He, US Treasury Secretary Mnuchin and USTR Lighthizer spoke over the phone and agreed to keep communications, strengthen cooperation and vowed efforts to implement the phase 1 dealChinese Gov't Adviser, on the US-China phone call, suggested that the fact that “the dialogue has now gone straight to ministerial level may indicate the problem is quite severe, SCMPFrance are reportedly proposing a...