Newsquawk Rundown, Daily Podcast

8th January 2020·       Iran has launched over a dozen ballistic missiles at two Iraqi air bases, no US casualties have officially been reported thus far·       Iranian Revolutionary Guard Corp claimed the attacks, Iran threatened "more crushing attacks" should the US retaliate·       US President Trump tweeted "all is well…Assessment of casualties & damages taking place...

European bourses are firmer as risk-sentiment strengthens on signs of a possible tempering of tensions in the Middle-EastUSD remains firm ahead of ISM, while the AUD is weighed on post-data and with the ongoing environmental crisisIran is reportedly assessing 13 scenarios for retaliation against the US and is prepared to "come back to full compliance in the Nuclear deal"US Defense Secretary Esper said the US does not have plans to pull out of IraqChina-US Phase One trade deal is on track...

·       US Defense Secretary Esper said the US does not have plans to pull out of Iraq, whilst a Pentagon spokeswoman said there is no change in US policy on its troops' presence in the country·       Trump administration has begun drafting sanctions against Iraq, according to sources - but plan to wait on the decision to impose penalties·       China-US Phase One trade...

Markets remain risk-off as Middle-East newsflow dominates, spot gold set 6-year highs at USD 1587/oz overnightUSD is subdued to the aid of G10 counterparts, particularly GBP and EUR with PMIs providing assitanceIran has finalised a new retreat from the Nuclear Deal in which it will not comply with any restrictions on the amount of uranium enrichment, enrichment rate and number of centrifugesIraqi parliament has voted for the government to work on plans to end US troop presence in...

US President Trump stated that there will be a “major retaliation”, perhaps in a disproportionate manner, should Iran retaliateIran has finalised a new retreat from the Nuclear Deal in which it will not comply with any restrictions on the amount of uranium enrichment, enrichment rate and number of centrifugesUS President Trump threatened sanctions against Baghdad after the Iraqi parliament voted to work on plans to end US troop presence in IraqChinese trade delegation, led by Vice Premier Liu He,...

European bourses are subdued on the overnight middle-east tensions which sparked a broad flight-to-qualityUSD is firmer this morning, and weighs on most G10 peers excluding the safe-havensSenior Iranian Revolutionary Guard Corp Commander Soleimani and Iraqi Militia Commander Muhandis have been assassinated in an air strikeIranian Government spokesperson says the response to the assassination of Soleimani is not far away, and the response will be strongNorth Korea's official newspaper...

3rd January 2020·       Asian equities failed to track the Wall Street rally as sentiment took a hit from geopolitical developments·       Oil prices surged as US air strikes killed Senior Iranian Revolutionary Guard Corp Commander Soleimani; IRGC official vowed revenge against the US·       North Korea's official newspaper warned of "immediate and powerful" strikes against...

European bourses are firmer this morning in relatively quiet newsflow for the European sessionUSD is firmer this morning, but the DXY remains well off pre-holiday levels after tumbling at year endPBOC has cut the RRR for domestic banks by 50bps, the level for big banks now stands at 12.5%US President Trump says the US-China trade deal will be signed on January 15th at the White House with high level Chinese RepresentativesNorth Korean Leader Kim Jong Un has stated that North Korea is no...

PBOC has cut the RRR for domestic banks by 50bps, the level for big banks now stands at 12.5%; this was the 8th cut since early 2018. (Newswires) US President Trump says the US-China trade deal will be signed on January 15th at the White House with high level Chinese Representatives, additionally President Trump will at a later date visit Beijing for the Phase Two talks. Note, China is yet to confirm the signing will take place on January 15th at the White House and today’s Mofcom press conference has been...

European bourses are little changed with a number of market closures already underwayChina Global Times tweeted that hopefully US can move faster towards lowering tariffs after China recently announced new tariff-cut plans on importsFX markets are tentative/little changed with the debt complex painting a similar pictureLooking ahead, highlights include Richmond Fed, APIs, US 5yr. Note, there are several early market closures, all of which...