Newsquawk Rundown, Daily Podcast

Asian equity markets traded mostly higher as the region took mild impetus from the gains on Wall St where all major indices notched fresh record highsUK PM Johnson is to bolster his Brexit legislation by outlawing a delay to the transition period with the EU beyond December 2020In FX, DXY edged marginal gains above 97.00, helped by strong NAHB data, a recent increase in yields and weakness across major counterpartsRBA meeting minutes saw the central bank reiterating it has the ability to add...

European bourses are firmer this morning, though the FTSE 100 significantly outperforms on a second-wave of UK election optimismChina State Council stated it will continue to suspend additional tariffs on US vehicles and auto parts due to the Phase One dealChina sources cited by CNBC's Yoon note that the USD 40-50bln target on agricultural purchases is a "best case target"Boeing (BA) is mulling cutting or stopping its 737 MAX production, via WSJ – Co. shares are down 2% pre-marketUSD...

Asian equity markets traded mixed following relatively light newsflow over the weekend, ASX 200 outperformedUSTR Lighthizer said China agreed to purchase USD 40bln of agriculture in the first year, added the deal will be signed by trade principals in Washington in the first week of JanuaryUS is reportedly weighing 100% tariffs on more EU products including whiskies and cognac amid the fallout of its Airbus disputeIn FX, the DXY was...

The result of the UK election exit poll overwhelmingly pointed towards a Conservative majority with a total of 368 seats vs. Labour 191 - Conservatives managed to cross the 326-seat threshold just before 0500GMTGBP immediately saw strength following the election exit poll with GBP/USD eclipsing 1.3500 to the upside from mid-1.3100 areaChina and the US have struck an agreement on some tariff reductions and a delay to the tariffs that were due to come into effect on...

European equities are choppy and ultimately flat ahead of a deluge of risk eventsUS President Trump is likely to meet with top trade advisers on Thursday regarding December 15th tariffs, according to sourcesHalf of the latest UK Election Polls show a maintenance in the Tory/Labour spread and the other half show a slight narrowingSNB left Monetary Policy settings unchanged, whilst CBRT conducted a deeper-than-forecast cut and maintained their stanceLooking ahead highlights include, UK...

FOMC left its Fed Fund Target Rate unchanged at 1.50%-1.75% as expected via unanimous decision while it maintained the IOER at 1.55%Fed dropped its language from the statement regarding uncertainties for the outlook remainingFed Dot Plots show a median view for an unchanged rate throughout 2020 and a single hike in 2021 followed by another in 2022, although some see a 2020 hike as likely to be appropriateFed Chair Powell also said that a...

European bourses are mixed/flat at present, as newsflow remains light ahead of the impending risk eventsWhite House Trade Advisor Navarro said China is trying to shape the narrative on trade talks and he believes the Dec 15th tariffs won’t come into effectYouGov’s MRP model showed Conservatives are on track for a 28-seat majority vs. Prev. forecast of 68-seat majorityLooking ahead, highlights include US CPI, DoEs, US FOMC Rate Decision and Press Conference, OPEC Monthly Oil...

A non-committal tone persisted across Asia-Pac equity markets following conflicting US-China trade headlinesWhite House Trade Adviser Navarro said he has no indication the December tariffs won't be put onYouGov MRP model showed Conservatives are on track for a 28-seat majority vs. Prev. forecast of 68-seat majorityGBP lagged, USD eked mild gains ahead of the FOMC policy announcement, EUR/USD was contained just shy of 1.1100Looking ahead, highlights include Swedish and US CPI, DoEs, US...

European bourses are significantly subdued, as this morning’s stock sell-off accelerates and spreads across marketsGBP outperforms ahead of tonight’s MRP, with the DXY continuing to print fresh session lowsA US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expected according to Chinese press reportsUS House Speaker Pelosi stated that a USMCA trade deal is not agreed to, are close but not yet thereLooking ahead, highlights include...

Asian equity markets resumed the cautious global risk tone heading into this week’s plethora of risk eventsThere were unconfirmed reports citing a trade source which noted the December 15th tariffs are going ahead and that China is preparing for themHowever, Chinese reports suggested a US-China trade deal is not expected this week with the US occupied by USMCA, although new tariffs are not expectedLooking ahead, highlights include Norges Bank Reginal Network Report, UK GDP, Production Trade,...