Newsquawk Rundown, Daily Podcast

Sentiment is bolstered on trade updates; as such, European bourses and US futures are comfortably positive with US futures outperformingUS and China Trade Chiefs are said to plan a phone conversation as soon as next week on progress in implementing the trade dealBoE left rates at 0.1% and maintained Gilt purchases, 2 dissenters on QE who wanted an extra GBP 100blnNorges Bank defied consensus, cutting rates to 0.0% & announced further F-loans; but, do not envisage making further...

European bourses are overall mixed in a choppy and relatively quiet session so farChina are reportedly considering dropping their numerical GDP growth target for 2020.European Commission Spring Economic Forecasts: EZ 2020 GDP to contract 7.7% before rebounding 6.3% in 2021DXY has reclaimed the 100.00 mark, touching 100.20 at best, much to the detriment of G10 peersLooking ahead, highlights include US ADP & DoEsEarnings from: PayPal, T-Mobile US, General Motors, Metlife,...

Asian equity markets traded mixed with the region lacking solid conviction after the choppy price action on Wall StThe DXY heads into the EU open relatively flat, EUR/USD below 1.0850 and GBP/USD below 1.2450The ECB said it takes note of the German court ruling and remains fully committed to its mandateUK Chancellor Sunak is to wind down the coronavirus furlough scheme amid concerns Britain is addicted to the wage subsidyLooking ahead, highlights include EZ services & composite PMIs,...

German Constitutional Court did not find ECB's PSPP to be in violation of prohibition on monetary financingSentiment has been dented by the German Court ruling, but remains firmer following a strong APAC handoverHowever, GCC ruled that some actions are not valid in Germany relating to the proportionality of PSPP; ECB now has 3-months to demonstrate this – will meet at 17:00BST/12:00ET to discussEUR, Bunds and BTPs were the biggest losers on this; EUR weakness propelled DXY to new session high of...

Asian equities traded positively after taking impetus from the rebound on Wall St where major indices gradually pared initial lossesSenior Trump administration aides have signaled there will not be any economic punishment for China if it sticks to the trade agreement made in JanuaryUniversity of Washington Institute for Health Metrics and Evaluation (IHME) updated model predicted the number of US deaths from coronavirus could reach over 134k by AugustIn FX, the DXY was softer and traded below the...

President Trump said tariffs would be the ultimate punishment on China and warned that that if China doesn't buy US goods, the US will end the trade dealUS Secretary of State Pompeo stated that there is enormous evidence that the coronavirus outbreak originated in a laboratory in WuhanSentiment is subdued following President Trumps remarks while European bourses catch-up from Labour Day holidayUS President Trump said he is not doing stimulus without a payroll tax cutUK are reportedly...

Asian equity markets began the week mostly lower as concerns mount over US-Chinese tensions and activity at the inter-Korean borderUS President Trump said tariffs would be the ultimate punishment on China and warned that that if China doesn't buy US goods, the US will end the trade dealUS Secretary of State Pompeo stated that there is enormous evidence that the coronavirus outbreak originated in a laboratory in WuhanUK is looking to relax the lockdown measures beginning May 26th, according to The...

European bourses are predominantly closed given Labour Day, while the FTSE 100 is down over 2% with US futures posting similar lossesUS President Trump said the China trade deal is now secondary to what China did regarding the virus and that he has seen evidence the virus had originated from Wuhan Institute of Virology in ChinaAdditionally, Trump suggested he can retaliate against China with tariffsApple beat EPS and Revenue but device breakdown missed expectations while Amazon missed EPS but...

The tone in Asia was subdued owing to the mass closures in the region for Labor Day and the negative handover from Wall StUS futures were pressured after-hours following mega-cap earnings from Amazon and AppleUS President Trump said that he has seen evidence the virus had originated from Wuhan Institute of Virology in ChinaUK PM Johnson said we have passed the peak, adding a comprehensive plan will be released next week on the reopening of the countryLooking ahead, highlights include UK...

European bourses are subdued after a modestly positive start; FTSE 100 & energy names after Shell cut quarterly dividendUS President Trump said China will do anything they can for him to lose the 2020 election and stated the US is looking at different options regarding consequences for ChinaChinese official Manufacturing and Caixin Manufacturing PMIs fell short of estimates but Non-Manufacturing and Composite PMIs both improvedUS President Trump said they will have a plan to support oil...