Get up to speed with everything you need to know ahead of today's European open with the Ransquawk rundown
European bourses modestly lower; US futures attempt to pare back Monday's hefty losses.DXY flat, USD/JPY fails to sustain a move below 140, EUR/USD back on a 1.14 handle as USD bounces off lows.Modest UST & Bund divergence while Gilts lag and hit lows on BoE's Greene, who highlighted that wage growth remains "pretty high".Spot gold briefly tested USD 3,500/oz before waning; industrial commodities mostly firmer.Looking ahead, Canadian Producer Prices, US Richmond Fed Index, EZ Consumer Confidence. Speakers including ECB's Knot, de Guindos, BoE's Breeden, Fed's Jefferson, Harker, Kashkari, Kugler & Barkin, Supply from the US, Earnings from Tesla, Verizon, GE Aerospace, Lockheed Martin, Danaher & Elevance.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks traded mixed with most indices rangebound despite the sell-off on Wall St after President Trump renewed his criticism against Fed Chair Powell.European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.5%.DXY has extended on recent downside with JPY the main beneficiary, EUR/USD is above the 1.15 mark.Bunds are rangebound on return from the long weekend, crude futures have continued the mild rebound from the prior day's trough.Looking ahead, highlights include Canadian PPPI, US Richmond Fed Index, EZ Consumer Confidence, ECB's Knot, de Guindos, BoE's Breeden, Fed's Jefferson, Harker, Kashkari, Kugler & Barkin, Supply from Germany & US.Earnings from SAP, Iberdrola, Tesla, Verizon, GE Aerospace, Lockheed Martin, Danaher & Elevance.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European bourses opened mixed, but gradually slipped lower as the morning progressed; US futures positive after strong TSMC results.USD is attempting to claw back some of Wednesday's losses. EUR awaits ECB rate cut.Bonds are softer following the robust macro tone, EGBs await the ECB.Crude extends on recent strength, XAU/Copper moves lower.Desk Closure (Good Friday Related): The desk will operate its usual schedule until Thursday April 17th 21:30BST at which point, the desk will close.Looking ahead, Highlights include US Jobless Claims, Philly Fed Index, ECB & CBRT Policy Announcements, Speakers including ECB President Lagarde, Fed's Barr & Williams, Supply from the US. Earnings from TSMC, UnitedHealth, American Express, DR Horton, Netflix.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Fed Chair Powell reaffirmed a wait-and-see approach and suggested incredibly high uncertaintyUS President Trump said "Big Progress!" was made with Japan on tradeAPAC shrugged off the negative Wall St. handover, but gains were capped with drivers limitedDXY found reprieve from recent pressure but remains below 100.00, USD/JPY hit a seven-month low but has since rebounded back above 142.00USTs & JGBs soft while Bunds lacked firm direction; French supply aheadCrude extended on Wednesday's strength, XAU pulled back from fresh record highs, base metals choppyLooking ahead, highlights include German Producer Prices, US Jobless Claims, Philly Fed Index, ECB & CBRT Policy Announcements, Speakers including ECB President Lagarde, Fed's Barr & Williams, Supply from France. Earnings from TSMC, UnitedHealth, American Express, DR Horton, Netflix, Sainsbury's, Rentokil & L'OrealClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
China is said to be open to talks if US President Trump shows respect, via Bloomberg sources; China wants Trump to rein in cabinet members and show consistency; wants US talks to address concerns on Taiwan and sanctions.White House said over 15 trade deal proposals are being considered and some could be announced soon.European indices downbeat, but some upside seen on source reports that China is open to talks, albeit with conditions; ASML -5% after poor Q1 results amid trade uncertainty.US equity futures lower and NQ underperforms with NVDA down 5.9% after it expects a USD 5.5bln hit due to export controls.USD is softer vs. G10 peers. Support from a conciliatory trade report proved to be fleeting.Fixed is underpinned by the risk-off tone, though off best given the latest China sources.Crude reverses losses on China sources, base metals hit on US' critical mineral investigation; gold tops USD 3,300/oz.Looking ahead, US Retail Sales, NZ CPI, BoC Policy Announcement, Speakers including Fed's Powell, Cook, Hammack, Logan & Schmid, BoC's Macklem & Rogers, Supply from the US.Earnings from US Bancorp, Abbott, Progressive, Travelers, Prologis, Autoliv, Citizens, First Horizon, Alcoa.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US bourses finished mixed with futures thereafter pressured after NVIDIA flagged 5.5bln of charges.White House said over 15 trade deal proposals are being considered and some could be announced soon.DXY gave back some of Tuesday's strength, EUR/USD back above 1.13 and Cable above 1.3250 into UK CPI.USTs paused for breath after gains sparked by Treasury officials, Bunds rebounded and JGBs retested 141.00Crude benchmarks lackluster, XAU hit another record high while base peers followed the risk tone lowerLooking ahead, highlights include UK CPI, US Retail Sales, NZ CPI, BoC Policy Announcement, Speakers including Fed's Powell, Cook, Hammack, Logan & Schmid, BoC's Macklem & Rogers, Supply from Germany & US.Earnings from Heineken, US Bancorp, Abbott, Progressive, Travelers, Prologis, Autliv, Citizens, First Horizon, Alcoa, Barratt Redrow, Moncler, Brunello Cucinelli & Lindt.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
China orders a halt to Boeing (BA) jet deliveries as the trade war expands, according to Bloomberg citing sources.US President Trump said they will put tariffs on imported pharmaceuticals in the not-too-distant future.European indices at session highs, LVMH -7% after weak results; US futures are modestly higher.DXY holds a downward bias whilst Antipodeans outperform.Initial fixed divergence eroded by China-Boeing. Bunds subsequently hit by a poor Bobl auctionGold lifted, Crude pushed into the red and Copper dented amid China trade retaliation.Looking ahead, US Import/Export Prices, Canadian CPI, Fed Discount Rate Minutes, Comments from ECB President Lagarde.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks traded with a predominantly positive bias following on from the gains on Wall St.US President Trump said they will put tariffs on imported pharmaceuticals in the not-too-distant future.Fed's Waller said under the large-tariff scenario with significant economic slowdown, he would favour cutting policy rate sooner and more than previously thought.European equity futures indicate a contained cash market open with the Euro Stoxx 50 future -0.1% after the cash market closed with gains of 2.6% on Monday.DXY is languishing below the 100 mark, antipodeans outperform, EUR/USD has failed to hold above 1.14, USD/JPY lacked firm direction.Looking ahead, highlights include German Wholesale Price Index & ZEW, UK Jobs, EZ Industrial Production, US Import/Export Prices, Canadian CPI, Fed Discount Rate Minutes, ECB President Lagarde, Supply from UK & Germany, Earnings from Bank of America, Citi, Johnson & Johnson, PNC, UAL, Beiersdorf, B&M European, Wise, Rio Tinto & Sika.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump's administration exempted items from reciprocal tariffs including smartphones, storage devices and some other electronics.However, Trump posted on Sunday that there was no tariff exception announced on Friday and that these products are subject to the existing 20% fentanyl tariffs and are just moving to a different tariff bucket.European bourses open higher as markets digest exemptions on smartphones/electronics; US futures also gain.DXY on the backfoot once again and G10s broadly supported with newsflow on the quiet end.Bonds diverge once again but are contained with specifics light thus far; USTs a little firmer whilst Bunds dip.Crude contained, gold wanes, base metals supported given the positive risk tone.Looking ahead, US NY Fed SCE, Speakers including RBNZ's Conway, Fed's Waller & Harker, Earnings from Goldman Sachs & LVMH.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Equities began the week with strength after the tariff reprieve for smartphones, though Trump's walk-back on this capped gains.Trump said there were no exceptions announced on Friday; Lutnick said semiconductor-tariffs in a month & pharma-tariffs in a month or two.DXY remained below the 100 mark, EUR/USD briefly surpassed 1.14 & Cable briefly surpassed 1.31.USTs attempted to nurse recent pressure but the constructive tone capped, Trump said the bond market is going good.Crude rangebound despite the tone as constructive US-Iran talks and remarks from Energy Sec. Wright offset this.Fed's Collins said they are likely moving to a period of difficult tradeoffs, and "we're not seeing liquidity concerns overall", via WSJ.Looking ahead, highlights include US NY Fed SCE. Speakers include RBNZ's Conway, Fed's Waller & Harker. Earnings from Goldman Sachs & LVMH.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
China unveils additional tariff measures on US goods; to raise additional tariffs on US goods to 125% from 84%. Effective April 12th.China's Finance Ministry says “if the US continues to impose additional tariffs on Chinese goods exported to the US, China will ignore it”.European indices hit after China raises tariffs; US futures modestly lower into bank earnings.DXY slumps to a 99.01 low after China increases tariffs on the US; EUR outperforms.Bonds lifted by China's latest retaliation but remain on track to end the week with significant losses.Base metals underpinned by hopes of Chinese stimulus.Looking ahead, US PPI, UoM Prelim, Moody's review on France, UK, Italy, Spain & Switzerland's Credit Rating, Speakers include Fed's Musalem, Williams & BoE's Greene. Earnings from JPMorgan, BlackRock, Wells Fargo, Bank of New York Mellon, Morgan Stanley & Fastenal.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US stocks pared some of Wednesday's historic gain, the Dollar was heavily sold, while the long-end of the Treasury curve saw further selling despite a strong US 30yr auction.The risk-off mood further exacerbated after reports that the White House clarified that US tariffs on China now totalled 145% after the latest hike (20% already in place + 125% added this year).APAC stocks mostly followed suit to the declines on Wall St, DXY suffered another bout of selling pressure, 10yr UST futures were lacklustre following the recent volatility.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.5% after the cash market closed with gains of 4.3% on Thursday.Looking ahead, highlights include UK GDP, US PPI, UoM Prelim, Moody's review on France, UK, Italy, Spain & Switzerland's Credit Rating, Speakers including Fed's Musalem, Williams & BoE's Greene, Supply from Italy, Earnings from JPMorgan, BlackRock, Wells Fargo, Bank of New York Mellon, Morgan Stanley & Fastenal.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European bourses gain as they react to Trump's 90-day tariff pause whilst US futures wane.USD is softer vs. most peers as markets digest Trump's tariff walk back.“Beautiful” trade for USTs, Gilts bid but fading, Bunds languish in the red.Crude remains subdued while base metals surge and gold holds onto gains.Looking ahead, US CPI, US Jobless Claims, Chinese M2 Money Supply, Speakers including, BoE's Breeden, Fed's Logan, Bowman, Schmid, Goolsbee & Harker, SNB's Tschudin & Moser, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Trump lifted the tariff on China to 125% with immediate effect, announced a 90-day pause & cut reciprocals to 10% for nations that asked for talks.Sparked significant risk on with US bourses closing higher by around 10%, APAC stocks surged & European futures are markedly higher.DXY gave back Wednesday's strength, FOMC Minutes a non-event; EUR higher but shy of 1.10, USD/JPY faded from highs above 148.00.USTs rebound from lows, aided by a strong 10yr tap. Bunds & JGBs hit on the 90-day pause.Crude followed the broader risk tone, metals surge.Looking ahead, highlights include Norwegian & US CPI, US Jobless Claims, Chinese M2 Money Supply, Speakers including RBA's Bullock, BoE's Breeden, Fed's Logan, Bowman, Schmid, Goolsbee & Harker, SNB's Tschudin & Moser, Supply from Spain & US.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump's reciprocal tariffs alongside the 104% levy on China came into effect; US President Trump said China is manipulating its currency in offset against tariffs, and added the US will be announcing tariffs on pharmaceuticals soon.China's top leaders are to hold a meeting as soon as Wednesday (today) to discuss measures to boost the economy after US trade tariffs, via Reuters citing sources.Indices trade lower in Europe whilst US futures are mixed as China refrains from immediate retaliation.USD pressured as trade tensions continue to ratchet higher.A blockbuster session for fixed thus far ahead of the US 10yr tap.Demand hits crude but base metals trade mixed amid hopes of Chinese support.Looking ahead, US Wholesale Sales, FOMC Minutes, Speakers including Fed's Barkin, Supply from US, Earnings from Delta & Constellation Brands.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump's reciprocal tariffs alongside the 104% levy on China came into effect; US President Trump said China is manipulating its currency in offset against tariffs, and added the US will be announcing tariffs on pharmaceuticals soon.Shanghai Comp. (+0.2%) was somewhat cushioned following recent stabilisation measures and expected policy support; E-mini S&P futures fell (-2.2%); markets await China's response.10yr UST futures notably slumped amid a surge in yields due to trade war concerns and after a weak 3yr auction stateside.RBI and RBNZ both cut their respective rates by 25bps as expected - both central banks flagged trade uncertainty; Japan's BoJ, MOF, FSA hold meeting to discuss international financial markets at 08:00BST.European equity futures indicate a lower cash market open with EuroStoxx 50 futures down 4.3% after the cash market closed with gains of 2.5% on Tuesday.Looking ahead, highlights include US Wholesale Sales, FOMC Minutes, Trump Executive Orders, Speakers including BoJ's Ueda, ECB's Knot, Cipollone & Fed's Barkin, Supply from UK & US, Earnings from Delta & Constellation Brands.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
China MOFCOM says China strongly opposes 50% additional tariffs and urges resolution of disputes with United States via dialogue.European bourses are on a firmer footing with US futures also in the green; ES +1.5%.USD softer vs. most major peers, antipodeans lead, EUR/USD remains on a 1.09 handle.Bonds were initially contained but has recently given way to pressure as the risk tone recovers.Crude choppy in a tight range while metals benefit from a softer Dollar ahead of trade updates.Looking ahead, ECB's Cipollone, BoE's Lombardelli & Fed's Daly, Supply from the US, Earnings incl. Walgreens Boots Alliance.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump showed no signs of easing up on his aggressive approach to trade as he threatened an additional 50% tariff on China.US President Trump said the US is not looking at pausing tariffs; tariffs could be permanent and there could also be talks.APAC stocks were mostly positive as markets regained some composure and bounced back from the recent tariff turmoil.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 1.9% after the cash market closed lower by 4.6% on Monday.DXY has reversed some of yesterday's strength, antipodeans lead peers alongside the pick-up in risk sentiment, havens lag.Crude futures are higher, gold is back above the 3k mark, fixed income markets are tentative.Looking ahead, highlights include French Trade Balance, Speakers including ECB's de Guindos, Cipollone, BoE's Lombardelli & Fed's Daly.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US Commerce Secretary Lutnick said there is no postponing tariffs and April 9th tariffs are coming; tariffs are going to stay in place for days and weeks.US NEC Director Hassett said more than 50 countries have reached out to the White House to begin trade negotiations.Stocks continue to sink as risk-off sentiment continues, reports that China is mulling accelerating stimulus measures fails to life the complex; NQ -4%.Havens lead, activity currencies lag as the Trump trade agenda continues to dominate.EGBs & USTs climb as Central Bank easing bets increase on stagflation/recession concerns.Crude continues to sink, XAU/copper incrementally lower.Looking ahead, US Employment Trends & President Trump.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US Commerce Secretary Lutnick said there is no postponing tariffs and April 9th tariffs are coming; tariffs are going to stay in place for days and weeks.US NEC Director Hassett said more than 50 countries have reached out to the White House to begin trade negotiations.Fed Chair Powell said on Friday that it feels like the Fed does not need to be in a hurry and has time; it is not clear what the path of monetary policy should be.APAC stocks resumed last week's heavy selling, US equity futures (ES -3.5%, NQ -4.3%, RTY -3.7%) have slumped, Europe set to open lower (Eurostoxx 50 future -4.1%).DXY remains on the backfoot, EUR/USD hit resistance at the 1.10 mark, Cable sits around the 1.29 level, CHF and JPY outperform.US yields are lower once again and in bull-steepening mode, crude prices continue to feel the squeeze.Looking ahead, highlights include German Industrial Output, EZ Sentix Index, Retail Sales, US Employment Trends, ECB's Cipollone.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump, when asked about the market response, said "now it settles in" and added he is open to negotiating if "other countries offer something phenomenal."Fed's Jefferson said there is no need to be in a hurry on policy adjustments, Cook said the Fed needs to be "patient but attentive".APAC stocks continued the sell-off after Wall Street experienced its worst session since 2020.DXY down to near 101.50, EUR held onto Thursday's strength, USD/JPY fell below 146.00 as haven flows resumed.Fixed benchmarks remained underpinned by the risk tone, crude subdued, and XAU rangeboundLooking ahead, highlights include German Industrial Orders, Swedish CPIF, US & Canadian Labour Market Reports, Moody's to review the EU's sovereign rating, Speakers including Fed's Powell, Barr, Waller & ECB's de Guindos.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump unveiled individual reciprocal tariffs for each country which are essentially half of what countries were charging the US.The US is to apply a 20% tariff on imports from EU, 34% tariff on imports from China, 26% tariff on imports from India and 25% tariff on imports from South Korea.Trump also stated that the baseline tariff is 10% for all nations and announced 25% auto tariffs, while Canada and Mexico were not subject to reciprocal tariffs for now.Indices take a tumble after US tariffs slap sentiment; ES -3.5%DXY briefly dipped below 102.00 whilst EUR/USD sits above 1.10; havens bid.Yields wilt after Trump's Rose Garden speech, desks diverge on Fed implications.Industrial commodities sink amid growth woes and after with focus on a 54% cumulative levy on China.Looking ahead, US Weekly Claims, Challenger Layoffs & ISM Services, ECB Minutes, Speakers including Fed's Cook, Jefferson, US VP Vance, US Commerce Secretary Lutnick, ECB's Schnabel.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump unveiled individual reciprocal tariffs for each country which are essentially half of what countries were charging the US.The US is to apply a 20% tariff on imports from EU, 34% tariff on imports from China, 26% tariff on imports from India and 25% tariff on imports from South Korea.Trump also stated that the baseline tariff is 10% for all nations and announced 25% auto tariffs, while Canada and Mexico were not subject to reciprocal tariffs for now.US equity futures slumped in response to the tariff announcement (ES -2.6%, NQ -3.1%, RTY -3.9%). Europe is also marked lower with the Eurostoxx 50 future down 1.7%.USD is showing a mixed performance vs. peers but ultimately net lower (AUD, NZD weaker vs. the USD. JPY, EUR, GBP, CHF stronger).Global bond yields are lower with the inflation implications dwarfed by the mass risk-aversion in the market. Fed pricing looks for 82bps of easing by year-end vs. 76bps yesterday morning.Crude is lower as markets digest the global growth implications, whilst spot gold hit another record high.Looking ahead, highlights include Swiss CPI, EZ Producer Prices, US Weekly Claims, Challenger Layoffs & ISM Services, ECB Minutes & BoE DMP, Speakers including Fed's Cook, Jefferson, US VP Vance, US Commerce Secretary Lutnick, ECB's Schnabel & de Guindos, Supply from Spain, France, UK & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US "Liberation Day": US President Trump to announce reciprocal tariffs at 16:00EDT/21:00BST on Wednesday; US Commerce Secretary Lutnick speaks at 08:30EDT/13:30BSTUSTR has reportedly prepared "an across-the-board tariff on a subset of nations that likely would not be as high as the 20% universal tariff option", according to WSJ.Stocks move lower as markets await reciprocal tariff updates on “Liberation Day”.USD steady, Antipodeans outperform whilst Havens lag a touch.Bonds largely in a holding pattern as we await the Rose Garden speech.Crude is incrementally lower whilst spot gold prices remain underpinned by haven demand.Looking ahead, US ADP & Factory Orders, US Tariff Implementation Date, EU Defence Ministers Meeting, NBP Base Rate, ECB's Schnabel, Lane & Lagarde, Fed's Kugler & US President Trump.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
USTR has reportedly prepared "an across-the-board tariff on a subset of nations that likely would not be as high as the 20% universal tariff option", according to WSJ.APAC stocks were mostly positive but with the major indices stuck within narrow parameters on 'Liberation Day'.European equity futures indicate a marginally lower cash market open with Euro Stoxx 50 futures down 0.3% after the cash market closed with gains of 1.4% on Tuesday.USD mixed vs. peers, antipodeans lead, JPY lags, EUR/USD failed to hold above 1.08.US President Trump believes Russian President Putin is stalling and the administration is eyeing aggressive sanctions enforcement, according to FoxLooking ahead, highlights include US ADP & Factory Orders, US Tariff Implementation Date, EU Defence Ministers Meeting, NBP Base Rate, RBA's Bullock, ECB's Schnabel, Lane & Lagarde, Fed's Kugler & US President Trump, Supply from the UK & Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US Treasury Secretary Bessent said President Trump will announce reciprocal tariffs at 15:00EDT/20:00BST on Wednesday.US President Trump says maybe Tuesday night or Wednesday you will see tariff details and we are going to be nice in comparison to other countries, adds in some cases maybe substantially lower.European bourses gain and reside near session highs whilst US futures trade modestly on either side of the unchanged mark.USD slightly lower but with price action fairly contained ahead of “Liberation Day”, EUR little moved by EZ HICP.Bonds bid into April 2nd but USTs and Bunds remain around/shy of Monday's peaks.Choppy trade for the crude complex, but base metals largely supported by Chinese Manufacturing PMI.Looking ahead, highlights include US ISM Manufacturing PMI & JOLTS, US Completion of the Trade Policy Review, Speakers including Fed's Barkin, ECB's Lagarde & Lane.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump said we will see tariff details maybe Tuesday night or on Wednesday which are going to be nice in comparison to other countries and in some cases, they may be substantially lower.US President Trump is said to be still deciding which plan he will take for reciprocal tariffs and has been presented with "multiple" tariff plans, according to administration sources cited by FBN's LawrenceUS Treasury Secretary Bessent said President Trump will announce reciprocal tariffs at 15:00EDT/20:00BST on Wednesday.APAC stocks traded mostly higher as markets recovered from the recent sell-off and with sentiment helped by data releases although gains were capped as tariff uncertainty persists heading into April 2nd 'Liberation Day' reciprocal tariffs.RBA maintained the Cash Rate at 4.10% as unanimously forecast and provided little clues for future policy.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.4% after the cash market closed with losses of 1.6% on Monday.Looking ahead, highlights include EZ HICP (Flash), Unemployment, US ISM Manufacturing PMI & JOLTS, US Completion of the Trade Policy Review, Speakers including Fed's Barkin, BoE's Greene, ECB's Lagarde Lane & Cipollone, Supply from Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump is said to be pushing senior advisers to go bigger on tariff policy as they prepare for ‘Liberation Day' on April 2nd; reportedly revived the idea of a flat universal tariff single rate on most imports.European bourses and US futures in the red given the above and into month & quarter end, Euro Stoxx 50 -1.5%, ES -1.0%; NQ -1.3% with NVDA pressured.DXY has been on either side of the unchanged mark throughout the morning, EUR and GBP flat/slightly softer while USD/JPY hit a 148.71 low as the Nikkei 225 entered correction territory.Fixed benchmarks bid on the broad risk tone, German State CPIs sparked a fleeing move lower into the mainland figure, JGBs slipped as the BoJ cut its bond purchase amounts.Crude firmer as geopolitical tensions outweigh the macro tone following reports around Trump on Iran, XAU at a fresh record high, base metals dented.US President Trump threatened to bomb Iran if a nuclear deal can't be reached, while he also warned of secondary tariffs on Russian oil.Looking ahead, highlights include US Chicago PMI & Trump's executive orders.Note: UK clocks changed from GMT to BST on Sunday which means the London to New York time gap returned to five hours.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump is said to be pushing senior advisers to go bigger on tariff policy as they prepare for ‘Liberation Day' on April 2nd; reportedly revived the idea of a flat universal tariff single rate on most imports.APAC stocks were pressured heading into month- and quarter-end amid tariff concerns as Trump's April 2nd Liberation Day drew closer.US President Trump threatened to bomb Iran if a nuclear deal can't be reached, while he also warned of secondary tariffs on Russian oil.European equity futures indicate a lower cash market open with EuroStoxx 50 futures down 0.8% after the cash market closed with losses of 0.9% on Friday.DXY is a touch softer, JPY outperforms on a safe-haven bid, EUR/USD sits on a 1.08 handle and antipodeans marginally lag.Looking ahead, highlights include German Retail Sales, Italian CPI (prelim.), German CPI (prelim.), US Chicago PMI.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European bourses and US futures approach PCE in the red following the overnight tone and further risk aversion from earthquakes in MyanmarCanadian PM to speak with Trump today; EU has mentioned Apple, Meta and PayPal as part of any potential tariff responseDXY attempts to claw back Thursday's pressure and is firmer vs peers ex-JPY, which is the best performer after Tokyo CPIA firmer start for fixed benchmark ahead of US PCE and any tariff/trade developments, no move to the morning's prelim. HICP figuresCrude choppy, precious metals underpinned by the tone while base metals are lowerGeopolitics in focus amid updates on Panama, Ukraine minerals deal and further damage to the Sudzha stationLooking ahead, highlights include US PCE (Feb) & Consumption, Speakers including Fed's Bostic, Barr & ECB's de Guindos.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks were mostly pressured amid the ongoing themes of tariffs and growth concerns heading closer to next week's 'Liberation Day' and with markets also bracing for the latest US PCE Price Index.DXY traded rangebound after weakening yesterday, USD/JPY retreated beneath the 151.00 level amid the underperformance in Japanese stocks and after firmer-than-expected Tokyo CPI data.EU reportedly looks to hit big tech in a crackdown on US services exports, according to FT. EU is set to limit Apple (AAPL) and Meta (META) fines to avoid angering US President Trump, according to FT.European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.3% after the cash market closed with losses of 0.6% on Thursday.Looking ahead, highlights include UK Q4 GDP & Retail Sales, German GfK Consumer Sentiment & Unemployment Rate, French & Spanish CPI, EZ Sentiment, US PCE (Feb) & Consumption, ECB SCE Speakers including Fed's Bostic, Barr & ECB's de Guindos, Supply from Italy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
The US is to impose 25% tariffs on all cars made outside of the US effective on April 2ndTrump reiterated that reciprocal tariffs are also set for next week but stated they will be lenientUpdates which weigh on European equities with Auto names lagging, US futures mixed/firmerDXY mixed with GBP outperforming in an attempted recovery from Wednesday's action while JPY lagsEGBs and USTs diverge as they focus on growth and inflationary implications of the latest rhetoric respectivelyCrude benchmarks lower, TTF choppy, XAU gains and base metals slipLooking ahead, highlights include US GDP & PCE Final (Q4), Jobless Claims, Japanese Tokyo CPI, Banxico Policy Announcement, Speakers including BoEʼs Dhingra, Fedʼs Collins & Barkin, ECBʼs Schnabel, de Guindos & Lagarde, Supply from the USClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks were ultimately mixed with cautiousness seen after Trump's latest tariff salvoThe US is to impose 25% tariffs on all cars made outside of the US effective on April 2ndTrump reiterated that reciprocal tariffs are also set for next week but stated they will be lenientEuropean equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.5% after the cash market closed with losses of 1.2% on WednesdayDXY lower after yesterday's session of gains, EUR is firmer despite Trump tariff plans, GBP is attempting to nurse recent lossesUkraine and the US discussed a halt of strikes on civilian facilities, but the US did not get support on this from RussiaLooking ahead, highlights include US GDP & PCE Final (Q4), Jobless Claims, Japanese Tokyo CPI, Norges Bank & Banxico Policy Announcements, BoJ SOO, BoE's Dhingra, Riksbank's Bremen, Fed's Collins & Barkin, ECB's Schnabel, de Guindos & Lagarde, Norges Bank's Bache, Supply from UK & USRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Tariffs in focus amid reports that Trump could implement copper tariffs in weeks, elsewhere reports that Canada could find some reprieveEuropean bourses opened firmer but have since slumped, US futures are in the red but only modestly soGBP lags after UK CPI, EUR/USD attempts to reclaim 1.08, USD/JPY rebounded overnight but is off highsGilts gapped higher on data and extended but have retreated to opening levels into the Spring Statement, USTs softer while Bunds are firmer but only modestly soCrude continues to inch higher with a handful of factors underpinning, TTF slips as talks continue, Copper soared on tariff updates but has since pulled backLooking ahead, highlights include US Durable Goods, BoC Minutes, UK Spring Statement, Speakers include Fed's Musalem, Kashkari & ECB's Cipollone, Supply from the USClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump said he has April 2nd tariffs set. Separately, reports that copper tariffs could be implemented in weeks.US stocks were mixed, European futures point to a mildly positive open. APAC trade mostly firmer but capped.DXY posts marginal gains, EUR/USD sub-1.08, USD/JPY gradually rebounded while AUD briefly slipped on CPI.USTs continue to pull back from Tuesday's best, Bunds subdued but off post-Ifo lows.Crude mildly underpinned, copper jumped on the tariff reports but is off best, XAU range bound.Looking ahead, highlights include UK CPI, US Durable Goods, BoC & Riksbank Minutes, UK Spring Statement, Speakers including Fed's Musalem, Kashkari & ECB's Cipollone from Italy, Germany & US, Earnings from Porsche SE & Dollar Tree.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump sanctioned Venezuelan oil. Elsewhere, India has proposed the removal/reduction of tariffsEuropean bourses defied the lead from futures and opened in the green, US futures in the red but only modestly so and hold onto the bulk of Monday's gainsDXY steady throughout the morning but most recently at a session low to the benefit of peers across the board, EUR also aided by IfoFixed benchmarks in the red, weighed on by Ifo and supply; USTs await Fed speakCrude bid in an extension of Monday's action, TTF softer on Ukraine updates while Gold has inched to fresh highsLooking ahead, highlights include US Richmond Fed Index, Consumer Confidence, Japanese Services PPI, Speakers including Fedʼs Williams & Kugler, Supply from the USClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks trade mixed after the early momentum from tariff-related optimism on Wall St wore thin.US President Trump will announce additional tariffs over the next few days on autos, lumber and chips; may give "a lot" of countries breaks on tariffs.European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.3% after the cash market finished with losses of 0.2% on Monday.FX markets are broadly steady with the DXY flat, EUR/USD lingers around the 1.08 mark, JPY marginally outperforms.The UK's OBR forecast is to roughly halve the UK's expected growth in 2025 from 2% to about 1%, FT.Looking ahead, highlights include German Ifo, US Richmond Fed Index, Consumer Confidence, Japanese Services PPI, Speakers including Fed's Williams & Kugler, Supply from Netherlands, UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US President Trump reportedly plans his tariff 'Liberation Day' with a more targeted push, according to Bloomberg over the weekend.STOXX 600 began the week on a firmer footing before trimming opening gains after a mixed APAC handover; EZ Flash PMIs were mixed and largely highlighted trade uncertainty.DXY is lower after some choppy price action in early European trade. The macro narrative for the US has kicked the week off with a focus on the trade agenda.USTs are lower amid the encouraging risk environment on account of weekend reporting over the Trump tariff agenda.Crude prices are choppy. Benchmarks were lacklustre overnight amid the subdued risk appetite in Asia before trending higher in European hours; Precious and base metals hold mild upward biases.Looking ahead, highlights include US Flash PMIs, Speakers including BoEʼs Bailey, RBAʼs Jones, Fedʼs Bostic & Barr.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks traded mixed and in a rangebound fashion amid trade-related uncertainty, while weekend newsflow was mostly centred around geopolitics.US President Trump reportedly plans his tariff 'Liberation Day' with a more targeted push, according to Bloomberg.European equity futures indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with losses of 0.5% on Friday.USD is mixed vs peers, DXY is holding above 104, EUR/USD sits on a 1.08 handle, JPY is the marginal laggard across the majors.Turkish court formally arrested Istanbul Mayor Imamoglu after prosecutors asked the court to keep Imamoglu and four aides in jail pending their trial on terrorism and corruption charges.Russia-US talks in Saudi Arabia are to begin at 07:00GMT/03:00EDT, according to TASS citing an unnamed source.Looking ahead, highlights include EZ, UK & US PMIs, Speakers including BoE's Bailey, RBA's Jones, Fed's Bostic & Barr.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European indices hold a negative bias, airliners on the backfoot with Heathrow closed; US futures are also lower.USD is broadly firmer vs. peers with macro newsflow on the light side, but ahead of Trump-Hegseth meeting at 15:00GMT.Gilts underperform on more unfavourable developments for Reeves, Bunds bid.TTF ignites on Sudzha damage, base metals dented by the risk tone.Looking ahead, Canadian Retail Sales, EZ Consumer Confidence, CBR Policy Announcement, DBRS Credit Review on France, Quad Witching, Speakers including Fed's Williams & Waller.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
A mixed session of APAC trade, US futures in-fitting after Thursday's swings while European futures point to a softer open.DXY extended past the 104.00 mark, EUR remained subdued and GBP continued to slip, USD/JPY above 149.00Fixed benchmarks contained and lacked direction while crude extended on the prior sessions sanctions driven gainsUS President Trump signed an order to increase the production of critical minerals; POTUS to speak with Hegseth at 15:00GMTLooking ahead, highlights include UK PSNB, Canadian Retail Sales, EZ Consumer Confidence, CBR Policy Announcement, DBRS Credit Review on France, Quad Witching, Speakers including Fed's Williams & Waller, Earnings from Nio & Carnival.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European risk tone deteriorates with US futures also slumping into the red, potentially driven by EU fiscal focus, post-FOMC pullback and attention returning to tariffs/trade.USD up vs. peers, Antipodeans lags, EUR slides and GBP eyes BoE.Bonds are bid post FOMC & as the tone deteriorates, Gilts lead on data & reports around the Spring Statement.Crude succumbs to the risk-off sentiment, with base metals also heading lower.Looking ahead, US Philly Fed Index, Jobless Claims, Japanese CPI, BoE & SARB Policy Announcements, Speakers including ECB's Lane, BoC's Macklem. Supply from the US, Earnings from Jabil, Micron, Nike, FedEx.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Fed maintained rates & dots, cut growth & lifted inflation projections. To slow the balance sheet runoff. Powell emphasized uncertainty, a wait-and-see approach.Trump posted "The Fed would be MUCH better off CUTTING RATES as U.S.Tariffs start to transition... into the economy"APAC stocks mixed, US futures saw a dovish reaction to the FOMCDXY pulled back, EUR/USD & GBP/USD briefly above 1.09 and 1.30 respectivelyFixed income bid post-FOMC though further gains were somewhat capped given the Tokyo holidayCrude firmer following the risk tone and factoring some geopolitical updates while XAU hit a new USD 3057/oz record highLooking ahead, highlights include US Philly Fed Index, Jobless Claims, Japanese CPI, German Producer Prices, BoE, SNB, Riksbank & SARB Policy Announcements, Speakers including ECB's Lagarde & Lane, SNB's Schlegel, Riksbank's Thedeen, BoC's Macklem & BoE's Bailey. Supply from Spain, France & US, Earnings from PDD, Jabil, Accenture, Micron, Nike, FedEx, RWE & Lanxess.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European bourses began the session on the backfoot with the risk tone dented as a few potential factors influenced, US futures modestly firmer pre-FedUSD firmer, EUR and GBP hit by JPY-action on Ueda's press conference; BoJ itself was as expected, Ueda began balanced but had some hawkish points in his presserFixed income initially benefited on the slip in the risk tone but has since eased off best with USTs now slightly softer into the FOMCCrude remains pressured after Tuesday's geopolitical developments while Gas has picked up as strikes on energy infrastructure seemingly continueUkraine's Zelensky to speak with US' Trump on Wednesday and hopes a ceasefire will eventually be implementedLooking ahead, highlights include NZ GDP, FOMC & BCB Policy Decisions, Speakers include Fed Chair Powell, ECB's de Guindos, Elderson, NVIDIA CEO Huang, Earnings from General MillsClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks traded mixed as the region lacked firm conviction following the negative handover from Wall St.BoJ left rates unchanged as expected; Japan's economy is recovering moderately, albeit with some weak signs.European equity futures indicate a steady open with Euro Stoxx 50 future flat after the cash market closed with gains of 0.7%.DXY is a touch firmer, EUR/USD is lower but holding above 1.09, JPY is weaker post-BoJ.US President Trump said he and Russian President Putin agreed to an immediate ceasefire on all energy and infrastructure.Looking ahead, highlights include EZ Labour Costs & Wages, NZ GDP, FOMC & BCB Policy Decisions, BoJ's Ueda, Fed Chair Powell, ECB's de Guindos, Elderson, NVIDIA CEO Huang, Supply from Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European bourses are in the green ahead of German fiscal reform while US futures languish near the unchanged mark into data.Presidents Trump & Putin to hold a call between 13:00-15:00GMT, which the Kremlin says will last for as long as it takes. USD broadly on the backfoot, EUR/USD and GBP/USD both hit fresh YTD peaks while JPY hands back recent gains.Bunds softer into the Bundestag vote, USTs essentially flat with yields mixed and the curve steeper.Crude and Gold are underpinned by geopols while Gas pulls back into the Trump-Putin call.Looking ahead, highlights include Canadian Inflation, US Industrial Production, Imports/Exports, Japanese Exports/Imports, German Bundestag third reading on fiscal reform (vote), US President Trump-Russian President Putin Call, Speakers including ECB's Escriva & NVIDIA CEO Huang, Supply from the US, Earnings from XPENG.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks were mostly higher after the advances on Wall Street with light catalysts otherwise light.Israel's military said it conducted extensive strikes and targets belonging to Hamas in Gaza.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.4% after the cash market closed with gains of 0.8% on Monday.DXY is steady above the 103.50 mark, EUR/USD is back on a 1.09 handle, JPY lags again, Cable is eyeing 1.30. US President Trump's administration is reportedly considering recognising Ukraine's Crimea region as Russian territory, according to Semafor citing sources.Looking ahead, highlights include German/EZ ZEW, Canadian Inflation, US Industrial Production, Imports/Exports, Japanese Exports/Imports, German Bundestag third reading on fiscal reform (vote), US President Trump-Russian President Putin Call, Speakers including ECB's Escriva & NVIDIA CEO Huang.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
US Senate voted 54-46 to pass the stopgap funding bill to keep the government funded through September 30th.European bourses modestly firmer whilst US futures are in negative territory.USD is a touch softer ahead of a risk-packed week; Antipodeans benefit from Chinese data and as China unveiled a plan to boost weak consumption.EGBs bid with OATs leading after Fitch while Bunds await fiscal updates.Gas deflates after US President Trump said he will speak with Russia's President Putin on Tuesday and may have something to announce on Ukraine-Russia talks by Tuesday.Looking ahead, US Retail Sales & ECB's Lagarde.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks began the week on the front foot following last Friday's resurgence on Wall St and amid encouraging Chinese activity data.US Senate voted 54-46 to pass the stopgap funding bill to keep the government funded through September 30th.DXY is steady, EUR/USD remains on a 1.08 handle, JPY marginally lags, the rest of G10 FX is contained.Crude futures advanced at the open after the US conducted strikes against Houthi militant sites in Yemen.US President Trump said he will speak with Russia's President Putin on Tuesday and may have something to announce on Ukraine-Russia talks by Tuesday.European equity futures indicate a slightly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with gains of 1.4% on Friday.Looking ahead, highlights include US Retail Sales, ECB's Lagarde and earnings from Hargreaves Lansdown.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Stocks gain with sentiment lifted after a strong Chinese session overnight and after the recent market turmoil.USD mixed vs. peers, GBP soft post-GDP, JPY weighed on by Rengo data, which showed average wage hike less than demands.Gilts gap higher on soft growth data while JGBs lift on Rengo.Spot gold makes a fresh record high above USD 3,000/oz; crude oil and base metals benefit from the risk tone.Looking ahead, US UoM Survey, Trump executive orders, Fitch to review France; US Government Funding Expires.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
APAC stocks were mostly positive as risk sentiment gradually improved following the negative lead from Wall St where the S&P 500 slipped into a technical correction amid tariff concerns after President Trump threatened 200% tariffs on EU wine and champagne.US President Trump said he is not going to change his mind on April 2nd tariffs and won't bend on Canada metals or April 2nd tariffs, while he added they don't need Canada's cars, energy or lumber.Russian President Putin supported the idea of a ceasefire but stressed that the ceasefire must lead to a final settlement of the conflict and solve the root causes of the conflict.US Senate Minority Leader Schumer said he will vote to keep the government open and not shut it down.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.5% after the cash market closed with losses of 0.6% on Thursday.Looking ahead, highlights include German Wholesale Price Index, UK GDP, US UoM Survey, Trump executive orders, Fitch to review France; US Government Funding Expires, Comments from ECB's Cipollone, Earnings from BMW, Daimler Truck, Bechtle & Li Auto.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
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