Newsquawk Rundown, Daily Podcast

Asian equities higher after following suit from the rebound seen in their global counterparts as Italian fears subside (for now) and encouraging Chinese data

Italy's Five Star Movement have called for Savona to withdraw candidacy for Economy Minister to allow a government to be formed

Looking ahead, highlights include Eurozone CPI, US personal consumption and PCE price index, Chicago PMI, Canadian GDP and DoEs

ASIA

Asian markets traded positive across...

Asian equities trade lower across the board as Italian political woes and trade concerns grip sentiment overnight

Cottarelli and Mattarella failed to reach an agreement on forming a government but will continue talks. ANSA report that failure to reach a deal could see elections on July 29th

Looking ahead, highlights include regional and national German CPIs, US ADP, GDP, Advance Good Trade Balance, BoC Rate Decision, APIs

ASIA

Asian stocks traded lower...

Asia traded mostly subdued as region lacked impetus following the market closures in US and UK. Political uncertainty in Italy and Spain added to the cautious tone

In FX markets, the risk averse tone spurred flows into the safe-havens with JPY the main beneficiary which pushed USD/JPY briefly below the 109.00 handle

Looking ahead, highlights include ECB’s Mersch and Lautenschlaeger

RECAP OF STORIES FROM OVER THE WEEKEND AND MONDAY FOR UK TRADERS AWAY FROM...

Asian equity markets traded mostly higher on warming geopolitical ties with prospects of the US-North Korea summit back in play

Italy PM-designate Conte reportedly gave up on efforts of forming a government after Italian President Mattarella rejected Eurosceptic Paolo Savona for the Economy Minister position

Today’s calendar sees a lack of tier 1 highlights. UK and US markets are closed

ASIA

Asian equity markets traded mostly higher on warming...

Asia cautious after US President Trump’s cancellation of the NK summit, albeit Trump has left the door open for the summit to take place in the future

FX markets quiet with the USD recovering some of the lost ground from the FOMC minutes; GBP/USD back below 1.3400 and EUR/USD eyeing 1.1700

Looking ahead, highlights include German IFO, UK GDP, US Durables, Uni. Of Michigan and a slew of speakers

ASIA

Asian stock markets traded cautiously as the...

FOMC Minutes stated that most felt it would soon be appropriate to raise rates again if outlook remained intact. Minutes contained little that changes the current ‘gradual hikes’ script

Asian equity markets traded subdued after US President Trump ordered the Commerce Department to consider a probe on auto imports

Looking ahead, highlights include German GDP, UK retail sales, ECB minutes and a slew of central bank speakers

FOMC

FOMC Minutes...

Sentiment soured in Asia after Trump cast doubts over NK summit and expressed dissatisfaction regarding trade talks with China

In FX, JPY was a beneficiary of safe-haven flows. USD flat. TRY experienced a ‘flash crash’ which saw the currency drop over 2.5% against the greenback

Looking ahead, highlights include EZ Mfg and Services PMIs, UK CPI, US New Home Sales, DOEs, FOMC minute and a slew of speakers

ASIA

Asian equity markets traded mostly...

Asian stocks traded mostly subdued amid holiday closures and a lack of fresh catalysts. DXY was sideways around 93.50 following its recent pullback from YTD highs

Italy’s President Mattarella reportedly expressed concerns with the 5SM/League fiscal plan and is said to need time to mull the PM choice

Looking ahead, highlights include BoE QIR testimony, ECB’s Liikanen, UK/EU trade talks and US 2yr Note Auction

TRADE

US and China said to have...

Asian equity markets traded mostly positive with sentiment underpinned following the conclusion of the 2nd round of US-China trade talks

China agreed to purchase more goods to avoid a trade war. Mnuchin announced that tariffs on China would be placed on hold as discussions progress

Looking ahead, highlights include ECB’s Nowotny, Fed’s Bostic, Harker and Kashkari

Due to Whit Monday, markets in Austria, Denmark, Germany, Hungary, Iceland, Norway, and Switzerland are...

Asian stocks traded mostly positive but with gains contained as focus remained on US-China trade talks and the current geopolitical climate

The Chinese trade delegation was said to offer a package to reduce the US trade deficit by USD 200bln annually

Looking ahead, highlights include Canadian CPI, retail sales, Fed’s Mester, Kaplan and Brainard

TRADE

US President Trump stated on Thursday stated that China will not be ripping the US anymore and...