Newsquawk Rundown, Daily Podcast

European Indices [Euro Stoxx 50 -0.6%] are broadly softer as the region failed to capitalise on the positive Asia-Pac momentumOn the trade front SCMP reports that US-China talks hit a snag as the US side ‘kept adding new demands in late stages of the negotiations’Looking ahead, highlights include US Consumer Confidence and supply from the US EU PARLIAMENTARY ELECTIONS SUMMARYEuropean elections failed to deliver any drastic upsets; right wing anti-EU parties...

Asian indices are moderately higher following on from yesterday’s holiday lull, with Chinese indices supported by a substantial PBoC liquidity injectionIn FX, DXY extended on gains as its major counterparts EUR/USD and GBP/USD languished following a pullback below 1.1200 and 1.2700 respectivelyLooking ahead, highlights include German GFK Sentiment and import prices, EZ Consumer Confidence (final), US Consumer Confidence, supply from Italy, Germany and the...

Asian equity markets began the week mixed as a lack of risk drivers and an extended weekend in some major global markets resulted to a non-committal tone in the regionPreliminary results from the European Parliament elections indicate the centre-right and centre-left groups are set to remain the biggest groups but have fallen short of a majorityPresident Trump suggested a US-Japan trade deal can wait until after the Japanese upper house elections in...

UK PM May resigns, to step down as Tory leader on June 7th and is to remain as PM until a new leader is electedEuropean Indices [Euro Stoxx 50 +0.9%] have extended on initial gains following their Asian counterparts which were somewhat boosted by upbeat US-China comments from President TrumpIn FX, the USD is weighed on by G10 counterparts bar safe havens in consolidation from yesterday’s DXY highs and amidst the risk-on tone this morningLooking ahead, highlights include; US Durable...

Asian equity markets were mixed with the region cautious following the headwinds from US. ASX 200 underperformed amid the slump in oil prices US President Trump said there is a good possibility of a US-China trade deal and that Huawei could be included in any trade dealUK PM May is to announce her timetable to step down on Friday, according to reports In FX markets, the DXY languished near this week’s lows whilst AUD was subdued...

European indices [Euro Stoxx 50 -1.7%] are sinking following the weak lead from Asia and poor EZ dataIn FX, USD outperforms all G10 bar safe havens as dismal data and Brexit woes afflict sentimentLooking ahead, highlights include, US Initial Jobless Claims & New Home Sales, NZ Trade Balance, ECB Minutes, European Parliament Election, Fed's Kaplan ASIA-PACAsian stock indices were mostly lower amid spillover selling from Wall St as US-China trade...

Asian indices (ex-India) are subdued as US-China updates continue to drive markets; China’s Foreign Minister Wang Yi warned China will fight to the endFOMC minutes largely neutral, emphasis on patience and that the inflation downturn is transitoryUK PM May is to meet 1922 Committee Chair Brady on Friday, where leadership changes will be discussed; HoC Leader Leadsom resignedLooking ahead, highlights include German GDP & Ifo, French,...

European Indices [Euro Stoxx 50 +0.3%] are positive, but have traded choppily for much of the session ahead of FOMC and as markets await further US-China updatesOn the Brexit front, the 1922 Committee are due to meet at 16:00BST, with speculation that if over half of the committee are in favour then Graham Brady will instruct PM May to leaveLooking ahead, highlights include Canadian Retail Sales, DoEs, FOMC minutes, Fed’s Williams, Bostic, and BoE’s...

Asian indices were mixed as markets await further US-China updates and FOMC minutesUS is contemplating blacklisting as many as 5 Chinese surveillance firmsUK PM May’s latest Brexit offer has led to a backlash from both Conservative Eurosceptics and the Labour PartyLooking ahead, highlights include UK CPI, Canadian Retail Sales, DoEs, FOMC minutes, ECB’s Draghi, Praet, Fed’s Williams, Bostic, and BoE’s...

European indices [Euro Stoxx 50 +0.6%] extend advances ahead of the US’s entrance to marketIn FX, the dollar broadly outperforms its G10 counterparts particularly antipodeans following RBA Governor Lowe stating they will consider a rate cut at June’s meetingLooking ahead, highlights include US Existing Home Sales, EZ Consumer Confidence (Flash), US & Japan Trade Talks, Fed’s Evans & Rosengren ASIA-PACAsian stocks eventually traded mostly...