Newsquawk Rundown, Daily Podcast

China's Hubei province reported 14840 new coronavirus cases under revised standards – the methodology has not changed outside HubeiEuropean stocks trade with losses across the board [Eurostoxx 50 -1.4%], FTSE 100 underperformsRisk aversion sees safe-haven FX bid, DXY is softer below 99.000 and energy futures declineLooking ahead, highlights include US CPI & Initial Jobless Claims, Banxico Rate Decision, Fed’s Williams, ECB’s Lane...

China's Hubei province reported 14840 new coronavirus cases under revised standards and 242 additional deaths as of February 12thAsian equity markets traded cautiously as the euphoria from the record highs on Wall St were soured by the latest updates from HubeiDXY stalled after printing fresh 3-month highs above the 99.00 level where it met resistance to provide some much-needed reprieve for EUR/USDUS Treasury Secretary Mnuchin stated that the implementation of the mini-trade deal with China has...

European bourses are firmer on little direction-changing newsflow for risk sentiment thus farNew Hampshire Democratic Primary results projected Bernie Sanders to win as expected with 26.0%, Buttigieg 24.4%, Klobuchar 19.8%, Warren 9.3% and Biden 8.4%RBNZ left rates unchanged at 1.0% and lifted their rate path, as such the NZD significantly outperformsRiksbank left rates unchanged at 0.0% and cut 2020 CPIF projections; albeit, Governor...

Asian equity markets were mostly higher but with gains limited as coronavirus fears lingeredChina reported an additional 2015 coronavirus cases and 97 deaths as of February 11th to bring total confirmed cases to 44653 and death toll at 1113RBNZ stood pat on rates as expected, whilst adopting an overall neutral toneEIA lowered its forecast for world oil demand growth for this year but increased its estimate for 2021 and reduced its forecast for US crude output growthLooking ahead,...

European bourses are firmer as sentiment remains risk-on following the APAC handoverCoronavirus outbreak may peak later this month and then plateau, China Advisor NanshanRussian Energy Minister Novak says they will hold a meeting tomorrow with domestic oil producers to discuss the OPEC+ dealThe ECB could make a decision on whether to change its inflation goal by the Summer, in what is being described as a “rushed agenda”In FX, the DXY is softer this morning weighed on by activity...

Asian equity markets were higher across the board after taking the cue from US peersChina reported 2478 new coronavirus cases and 108 new deaths as of Feb. 10thThe ECB could announce a decision on whether to change its inflation goal by the SummerFed's Daly said inflation a bit above target is 'far better' than a bit belowLooking ahead, highlights include UK GDP (Q4 Prelim & Dec), Industrial and Manufacturing Output, US New Hampshire Democratic Primary, Fed’s Powell, Quarles,...

European bourses are subdued but have been bolstered, alongside sentiment in general, by comments out of China regarding coronavirus medicine provisionsChinese President Xi says China will adopt more decisive measures to contain the spread of the virus in the Hubei province, and will be speeding up development of clinically effective drugsChinese Commerce Ministry says there is no reason to adopt intervention polices on international trade amid the coronavirus...

Asia-Pac stocks began the week with a sombre tone as the death toll for the Coronavirus has now surpassed that of SARSChina’s total confirmed cases now stands at 40171 and total deaths at 908 as of February 9thRussian Energy Minister Novak stated that Russia is not yet prepared to announce its position on OPEC+ actionsUK Foreign Minister Raab said a Singapore deal will be one of the first wave of free trade agreements and wants a deal...

Risk-off returns as sentiment dips on Coronavirus concerns and China postponing trade dataEuropean bourses/US futures suffer as safe havens rise after USD/CNH re-claimed 7.00 brieflyChina Customs Office says that they are to combine the months of January and February for reporting of trade dataRBA Statement on Monetary Policy stated that policy is expected to remain accommodative for some time, cut GDP and forecasts assume a mid-2020 25bp...

Asian equity markets were mostly subdued after failing to benefit from the tailwinds on Wall St.China National Health Commission reported coronavirus cases now at 31161 and death toll at 636RBA Statement on Monetary Policy noted the Bank are discussing rate cuts but were wary of the risks associated with lower ratesOPEC+ proposed a 600k supply cut through to June but are still awaiting Russia to sign off on itLooking ahead, highlights include German Industrial Output and Trade Balance,...