Newsquawk Rundown, Daily Podcast

Asian stocks traded on the backfoot as the region mimicked the lead from Wall St. where the S&P 500 posted its worst week in nearly a month

The Telegraph reports The EU is preparing to offer Theresa May a “supercharged” free trade deal this week but will reject Mrs May’s demands for frictionless tradee

The Telegraph also reports that Brexiteers offered UK PM May a lifeline that will see EU officials based at UK borders

Brazilian far-right candidate Bolsonaro won the first...

EUR, EU equities and BTPs hit as Italian budget targets seen as a “serious concern” for the European Commission

China returns with a RRR cut, but can’t stop the rot for Chinese equities and the CNH

Looking ahead the highlight is ECB’s Nowotny; NOTE: US Columbus Day is today, US equity markets are open

ASIA

Asian stocks traded on the backfoot as the region mimicked the lead from Wall St. where the S&P 500 posted its worst week in nearly a month...

Asian equities trade mixed following a negative lead from the US with sentiment on Wall St. dampened by ongoing trade concerns and US yields

FX markets were little changed overnight with the greenback remaining in a tight range ahead of NFP

Italy's Finance Minister Tria is targeting GDP growth of 1.5% in 2019, 1.6% in 2020, 1.4% in 2021 and confirmed deficit/GDP target of 2.4% in 2019, 2.1% in 2020 and 1.8% in 2021

Looking ahead, highlights include RBI rate decision, US and Canadian jobs...

Asia-Pac stocks traded mostly lower despite the positive lead from Wall St as the effects of rising rates spooked investors

In FX markets, the greenback hit a one-month high following upbeat comments from Fed Chair Powell on the economy

Italy's government agreed on a 2.4% deficit/GDP target in 2019, 2.1% in 2020 and 1.8% in 2021, PM Conte confirmed

Looking ahead, highlight include, weekly US jobs data, US factory orders,...

Italy are said to seek cuts in their 2021 and 2020 deficit/GDP ratio to 2.0% and 2.2% respectively from 2.4%

EUR immediately caught a bid as the reports signal a potential compromise from Italy. Asian stocks traded choppy following a mixed lead from Wall St.

Looking ahead, highlights include EZ, UK and US services PMI, US ADP, ISM non-mfg, ECB’s Mersch, Fed’s Evans, Barkin, Harker, Bullard, Brainard and Mester

ASIA-PAC

Asian stocks traded choppy following a mixed lead from...

Italian Economy Minister tries to tame budget excesses ahead of key meeting

BTPs firm but off peaks as Di Maio maintains citizens income demands

Looking ahead, highlight include, US services PMI, US ADP, ISM non-mfg, Fed’s Barkin, Harker, Bullard, Brainard and Mester

ASIA

Asian stocks traded choppy following a mixed lead from Wall St. where the Dow hit all-time highs aided by gains in Intel shares, while Nasdaq was pressured by large-cap tech names tumbling over a percent. ASX 200...

Asian stocks traded mostly lower as the upbeat sentiment from the USMCA deal seen on Wall St. faded away

UK PM May is preparing to limit Britain's ability to strike free-trade deals after Brexit in a significant concession to the EU aimed at breaking the deadlock in negotiations

The RBA stood pat on rates as expected and stated that low interest rates are supporting the economy, while business conditions and the outlook for the labour market remain positive

Looking ahead, highlights include, US...

US and Canada said in an official statement that they have reached a trade deal with Mexico in an agreement dubbed the USMCA (US-Mexico-Canada Agreement)

Asian stocks traded mixed following a rather uneventful lead from Wall St. on Friday. Hong Kong and Mainland China closed due to public holidays

In FX, focus has been on JPY weakness and CAD strength with the latter hitting 4-month highs vs. USD

Looking ahead, highlights include...

US-Canada-Mexico agreed to new NAFTA named the USMCA; CAD and MXN the major outperformers in FX

FTSE MIB the outperforming bourse as Italy sees some reprieve

Looking ahead, highlights include, US mfg PMIs, US construction spending, ISM mfg PMI, Fed’s Bostic, Kashkari, Rosengren, BoE’s Tenreyro

NAFTA

US and Canada said in an official statement that they have reached a trade deal with Mexico in an agreement...

Asian stocks traded mostly higher following a spur in risk-appetite and an upbeat lead on Wall St

The Italian government has reached agreement on 2.4% deficit to GDP target for 2019

Looking ahead, highlights include German jobs, UK GDP, EZ CPI, US personal income, core PCE price index, Canadian GDP, Chicago PMI, Uni. of Michigan and a slew of central bank speakers

ASIA

Asian stocks traded mostly higher following a spur in...