Newsquawk Rundown, Daily Podcast

Asian equity markets remained subdued amid the headwinds from Wall St which saw the S&P 500 close lower by 2.2%DXY remains firmer in the FX space as the index sits just below the 100.00 threshold, weighing on major counterpartsPresident Trump said the administration will be announcing new guidelines on reopening the economy on ThursdayWTI crude futures fluctuated around the USD 20/bbl level as prices remained subdued by the ongoing demand concernsLooking ahead, highlights include...

Sentiment is negative this morning following the downbeat APAC lead as Wall St. optimism dissipatedUS President Trump said plans to reopen the country are nearing completion and he will speak to all Governors shortly; additionally, he instructed administration to halt funding to the WHO as a review is conductedIEA Monthly Oil Market Report: Global oil demand is set to fall by a record 9.3mln BPD in 2020, SPR purchases can reach 200mln BPD in the next three monthsDXY is firmer thus far to the...

Asian equity markets traded cautiously as the region failed to follow through on the optimism seen on Wall StDXY remained lacklustre after having recently slipped below the 99.00 level amid easing funding pressures and declining yieldsBrexit negotiators are to conduct a video call today to finalize next week's large-scale trade negotiationsUS President Trump stated that he instructed the administration to halt funding to the WHO as a review is conductedUS President Trump said plans to...

European bourses are firmer this morning with US futures stronger in excess of 1% at present; note, Eurex has been experiencing operational difficultiesUS President Trump said we're very close to completing a plan to re-open the country and hopefully ahead of scheduleUS NIH's Fauci said even though we had a bad week last week, we are starting to see flattening including in hot spots such as New YorkFX sees the DXY modestly softer this morning, while the ZAR underperforms after SARB cut rates to...

Asian equity markets were positive across the board as sentiment picked up from the holiday lull and as the region digested mostly better than expected Chinese trade dataChinese trade figures showed a much narrower than expected contraction in exports and a surprise expansion to CNY-denominated importsDXY was softer overnight as the constructive risk appetite sapped demand for the greenbackUS President Trump says the administration is very close to completing a plan to re-open the country and is...

Sentiment started strong but has waned on the approach to today’s plethora of risk eventsKuwait Oil Minister says intention is moving towards reaching an agreement to lower output by a large amount between 10mln-15mln bpd.Kremlin declined to comment on reports their maximum cut would be 2mln BPDRussia and Saudi Arabia still need to settle differences regarding plans for a global oil production cut according to sources, regarding baseline and quantityPresident Trump suggested the...

Asian equity markets were mostly higher as the region marginally benefitted from the tailwinds from Wall StThe DXY was steady above the 100.00 level with price action rangebound following an uneventful FOMC Minutes releaseThe Kuwait Oil Minister has touted the possibility of a 10-15mln bpd output reduction at today’s OPEC+ meetingRussia is reportedly ready to cut production by 1.6mln BPD, according to Tass citing comments from Russian Energy Minister NovakPresident Trump suggested the...

Sentiment was hit early doors on the Eurogroup being postponed, US futures currently little changedEurogroup President Centeno confirmed talks will resume tomorrow with no deal reached yet and cancelled today’s press-conferenceCore debt futures flew on Centeno’s remarks as peripheries sunk along with EUR/USD; albeit, the latter has fought backUS President Trump said he will ask Congress for an additional USD 250bln in small businesses reliefIran Oil Minister Zanganeh stated in a letter...

A tentative tone was observed in Asia-Pac bourses following the lacklustre performance statesideDXY was relatively steady although managed to recoup some of the recent losses to reclaim the 100.00 levelUS President Trump said the US is looking at reopening the economy very thoroughly which will be open again much sooner rather than laterWork towards an ambitious EU economic policy response to COVID-19 is “well on track but not there yet”, according to a spokesman for Eurogroup President...

Sentiment remains bolstered from the APAC lead, as US equity futures extend on gainsDelegate reports intimate that Saudi and Russia are coming closer to an output deal; however, Russian press reports have subsequently pushed back on thisJapanese PM Abe declares a State of Emergency in 7 prefectures as expected; Gov’t has approved JPY 108.2trl in stimulusRBA kept rates on hold at 0.25% as expected and the board reaffirmed the 3yr yield target at 0.25%FX sees the DXY softer, to the benefit...