Podcasts about ecb president lagarde

US President Trump confirmed the launch of “Operation Midnight Hammer”, which involved targeted strikes on Iranʼs nuclear facilities at Fordow, Natanz, and Isfahan.US President Trump warned that “many targets remain,” emphasising that the US had no desire for regime change but threatened larger future strikes if Iran failed to engage diplomatically.The Iranian parliament has approved the closure of the Strait of Hormuz after the US launched strikes against the countryʼs nuclear facilities. Iranʼs security body will make the final decision on whether to proceed with the plan, state television reported. Iran is weighing its response, with its Foreign Minister saying “all options” are on the table after Washington proved “they only understand the language of threat and force”, according to CNN.US President Trump to meet with National Security team at 13:00 EDT/18:00 BST on Monday, according to Bloomberg. Separately, a special IAEA board meeting is also scheduled for Monday.Initial market reaction saw crude higher, havens bid and equity futures softer; however, the move has since largely dissipated, potentially on hopes the strike is a "one and done" situation.Looking ahead, highlights include French, German, EZ, UK, US Flash PMIs, ECB President Lagarde; Fed's Goolsbee, Kugler, Supply from EU, Trump's National Security meeting.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump confirmed the launch of “Operation Midnight Hammer”, which involved targeted strikes on Iranʼs nuclear facilities at Fordow, Natanz, and Isfahan.US President Trump warned that “many targets remain,” emphasising that the US had no desire for regime change but threatened larger future strikes if Iran failed to engage diplomatically.The Iranian parliament has approved the closure of the Strait of Hormuz after the US launched strikes against the countryʼs nuclear facilities. Iranʼs security body will make the final decision on whether to proceed with the plan, state television reported. Iranian Foreign Minister said “all options” are on the table.European bourses opened lower in reaction to US-Iran but some managed to climb into the green as the session progressed; US equities are modestly firmer.DXY benefits from the US attack on Iran and currently trades near session highs, JPY the clear G10 laggard.Brief upside in fixed income gives way to energy-induced inflation concern, bearish bias added to by the improving equity tone.Brent gapped higher by 5% at the open in reaction to US strikes on Iran, but has since entirely pared that move.Looking ahead, US Flash PMIs, ECB President Lagarde; Fed's Goolsbee, Kugler, Supply from EU, and Trump's National Security meeting.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed following the subdued handover from the US amid a stunning online bust-up between US President Trump and Elon Musk.US President Trump said that trade talks with China have never been off track and straightened out the complexity.European equity futures indicate a slightly lower cash market open with Euro Stoxx 50 future down 0.1% after the cash market finished with gains of 0.1% on Thursday.DXY is a touch higher, EUR/USD ran out of steam ahead of 1.15, JPY marginally lags with FX markets otherwise steady.RBI cut the Repurchase Rate by 50bps to 5.50% (exp. 25bps cut) and changed its stance to neutral from accommodative.Looking ahead, highlights include German Industrial Output & Trade Balance, French Trade Balance, EZ Employment, GDP & Retail Sales, US NFP, Canadian Jobs, Bundesbank Semi-Annual Forecasts, ECB President Lagarde & BoE's Pill.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump is to meet with German Chancellor Merz at 11:45EDT/16:45BST today.US President Trump said the "debt limit should be entirely scrapped..."; separately, he banned travel from certain nationsAPAC trade was mixed, European futures point to a flat openDXY saw a slight reprieve, EUR/USD took a breather and GBP was rangeboundFixed benchmarks held onto recent gains, JGBs were briefly knocked by the 30yr auctionCrude lacklustre, and unreactive to Trump and Putin holding a conversationLooking ahead, highlights include German Industrial Orders, Swedish CPI, Italian Retail Sales, EZ Producer Prices, US Jobless Claims, Challenger Layoffs, US International Trade, Canadian Trade, ECB Policy Announcement; BoE DMP, Danish Holiday, Speakers including ECB President Lagarde, BoE's Greene, Fed's Kugler, Harker, Schmid & BoC's Kozicki, Supply from Spain & France, Earnings from Broadcom, DocuSign, Wise & CMC Markets.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump is to meet with German Chancellor Merz at 11:45EDT/16:45BST today.European bourses opened flat before climbing, which supported US futures, but are now off best.FX markets broadly contained as EUR awaits the upcoming ECB rate announcement.Bonds broadly trading near session highs, Bunds benefit after strong auctions from Spain/France.Crude prices stabilise after sinking post-Saudi report, technical breakout boosts spot silver.Looking ahead, US Jobless Claims, Challenger Layoffs, US International Trade, Canadian Trade, ECB Policy Announcement; BoE DMP, Danish Holiday, Speakers including ECB President Lagarde, BoE's Greene, Fed's Kugler, Harker, Schmid & BoC's Kozicki. Earnings from Broadcom & DocuSign.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he will double US steel and aluminium tariffs from 25% to 50%, effective June 4th.US Treasury Secretary Bessent said China is holding back products essential to the industrial supply chain and he believes President Trump will talk to Chinese President Xi very soon, according to a CBS interview.OPEC+ members that voluntarily restricted output agreed to a 411k BPD oil production increase in July, as expected, which could be paused or reversed subject to market conditions.Chinese Official PMI data over the weekend was mixed, with manufacturing improving as expected but non-manufacturing surprisingly easing, albeit slightly.Meeting between Russian and Ukrainian delegates in Istanbul is expected to take place at 11:00BST/06:00EDT in Ciragan Palace on Monday, according to a Turkish Foreign Ministry source.APAC stocks were mostly in the red, 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 0.1% on Friday.Looking ahead, highlights include EZ, UK, Canadian & US Manufacturing PMI Finals, Swiss GDP, ISM Manufacturing, Speakers including BoE's Mann, ECB President Lagarde, Fed's Logan, Goolsbee & Powell, Supply from the EU.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he will double US steel and aluminum tariffs from 25% to 50%, effective June 4th.US Treasury Secretary Bessent said China is holding back products essential to the industrial supply chain and he believes President Trump will talk to Chinese President Xi very soon, according to a CBS interview.Crude soars on OPEC+. OPEC+ members that voluntarily restricted output agreed to a 411k BPD oil production increase in July, as expected, which could be paused or reversed subject to market conditions.Chinese Official PMI data over the weekend was mixed, with manufacturing improving as expected but non-manufacturing surprisingly easing, albeit slightly.Stocks mostly lower in reaction to Trump's steel tariffs and US-China commentary; ES -0.5%.Dollar in the doldrums as "sell America" trade seemingly back on the table.Bearish bias in the fixed complex awaiting ISM Manufacturing and Powell.Looking ahead, Canadian & US Manufacturing PMI Finals, ISM Manufacturing, Speakers including BoE's Mann, ECB President Lagarde, Fed's Logan, Goolsbee & Powell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Dow, S&P, and Nasdaq holding onto gains as stocks try to rebound off fresh lows – Sara Eisen, David Faber, and Carl Quintanilla discussed the latest on a big day of earnings and tariff headlines. New this morning: the International Monetary Fund cutting U.S. growth estimates - on tariff headwinds… As names from 3M to GE Aerospace to RTX warn of fresh impacts. Why Barclays says tech might be worth buying here – and more on what to expect from Tesla ahead of results this afternoon.  Also this hour: a wide-ranging interview with European Central Bank President Lagarde… Spanning trade, tariffs, Trump, and even Powell. Why she does not see a recession ahead for Europe – but the U.S. could be a different story.   Squawk on the Street Disclaimer

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

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

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

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

ECB President Lagarde almost sounded like an economist yesterday, noting inflation pressures could go up or they could go down. While highlighting the increased economic uncertainty of 2025, Lagarde confirmed market expectations that the direction of ECB rates is down. There are seven ECB speakers jostling for media attention today.

European bourses are mostly lower, Autos benefit following tariff reprieve; US futures in the red with NQ underperforming.DXY remains on the backfoot, EUR underpinned by stimulus hopes as attention turns to ECB.Bunds continue to slump on the latest fiscal reports pre-ECB, USTs await data.Crude attempts to claw back recent pressure, XAU sits around USD 2.9k/oz.Looking ahead, US Initial Jobless Claims, Atlanta Fed GDPnow, Canadian Exports/Imports, ECB Policy Announcement, Special European Council regarding Ukraine and EU Defence, Speakers including ECB President Lagarde, Fed's Waller, Bostic & Harker.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed albeit with a predominantly positive bias after the constructive handover from Wall St.White House said they will give a one-month exemption on any autos coming through USMCA.US President Trump is reportedly considering agricultural carve-outs for Mexico and Canada tariffs, according to Bloomberg.European equity futures indicate a positive cash market open with Euro Stoxx 50 future up 0.7% after the cash market closed with gains of 1.9% on Wednesday.DXY remains on the backfoot, EUR/USD has extended its rally onto a 1.08 handle, Cable has breached 1.29 to the upside.Bund futures continued its downward slide after German yields surged by the most in a day since the 1990s.Looking ahead, highlights include Swedish CPI, EZ Retail Sales, US Initial Jobless Claims, Atlanta Fed GDPnow, Canadian Exports/Imports, ECB & CBRT Policy Announcements, Special European Council regarding Ukraine and EU Defence, BoE DMP, ECB President Lagarde, Fed's Waller, Bostic & Harker, Supply from Spain, France & US.Earnings from Deutsche Post, Merck, Lufthansa, Zalando, Reckitt, Admiral, Rentokil, Entain, Melrose, JD.com, Kroger, Broadcom, Costco & Gap.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were ultimately mixed amid the ongoing mass closures in the region and after the choppy performance stateside in reaction to the FOMC, while the first earnings results from the magnificent 7 stocks were also varied - Meta +2.3%, Microsoft -4.6%, and Tesla +4.1%.An immediate hawkish reaction was seen as the Fed held rates at 4.25-4.50%, as expected, while it removed the reference that "inflation has made progress toward the Committee's 2 percent objective" in the accompanying statement.However, Fed Chair Powell later noted in the Q&A that it was a language clean-up, as opposed to anything fundamental, which saw a dovish reversal to the initial moves.US President Trump said because the Fed and Chair Powell failed to stop problem they created with inflation, he will do it by unleashing American energy production slashing regulation, rebalancing international trade, and reigniting American manufacturing.Looking ahead, highlights include Swiss KOF, Spanish CPI (Flash), EZ GDP (Q4), US GDP Advance (Q4), PCE Prices Advance (Q4), Jobless Claims, Japanese Tokyo CPI & Retail Sales, ECB & SARB Policy Announcements, Comments from ECB President Lagarde, Supply from ItalyEarnings from Nokia, Roche, ABB, H&M, BT, Shell, Sage, STMicroelectronics, Sanofi, Deutsche Bank, Apple, Intel, Visa, US Steel, UPS, Mastercard, Blackstone, Caterpillar, Cigna & Mobileye.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses hold an upward bias into the ECB; RTY outperforms post-FOMC.Big-Tech results were mixed; META +2.4%, MSFT -3.5%, TSLA +1.7%USD steady post-FOMC, EUR eyes ECB 25bps rate cut; USD/JPY below 154.50.Powell props up bonds, weaker-than-expected EZ GDP spurred little reaction in Bunds ahead of the ECB.Crude slips on tariffs and growth fears, base metals edge a little higher despite China being on holiday.Looking ahead, US GDP Advance (Q4), PCE Prices Advance (Q4), Jobless Claims, Japanese Tokyo CPI & Retail Sales, ECB & SARB Policy Announcements, Comments from ECB President Lagarde.Earnings: Apple, Intel, Visa, US Steel, UPS, Mastercard, Blackstone, Caterpillar, Cigna & Mobileye.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed in a holiday-thinned start to the week, with markets in Australia, South Korea and Taiwan closed overnight, and ahead of Mainland China's week-long holiday starting Tuesday.Hang Seng and Shanghai Comp were kept afloat despite the disappointing PMI data which showed headline Chinese Manufacturing PMI back in contraction territory.US President Trump announced the US will impose emergency 25% tariffs on all Colombian goods coming into the US which will be raised to 50% in one week after Colombia denied entry to two US deportation flights.Momentum is growing among US President Trump's advisers to place 25% tariffs on Mexico and Canada as soon as Saturday ahead of negotiations, according to WSJ.European equity futures indicate a negative open with Euro Stoxx 50 futures down 0.9% after the cash market closed flat on Friday.Looking ahead highlights include German Ifo Expectations, Comments from ECB President Lagarde, Supply from the EU & US, Earnings from Ryanair, Sofi & AT&T.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Risk sentiment hit by DeepSeek threatening US AI dominance, NQ -4.8% & ES -2.7%; NVDA -13.5% in premarket tradeEuropean bourses are also mostly in the red, Tech lags with ASML -10.6% while Energy names are hit on this and numerous other factorsAdditionally, disappointing Chinese PMI data overnight, Trump's tariff announcement on Colombia and reports around MXN & CAD also weigh on the risk tone.DXY is at session lows with 107.00 coming into view, havens lead with USD/JPY probing 154.00 to the downside.Fixed benchmarks benefit from the above and partially on better-than-expected German Ifo; Central Banks coming into focusCrude is now modestly in the green, as the USD provides support and offsets initial bearish action on the above and Saudi/US discussing lower prices; Metals lower across the boardLooking ahead, highlights include ECB President Lagarde & Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Another record high on the S&P as Carl Quintanilla, David Faber, and Leslie Picker discussed the state of the record rally – and fresh data at the top of the hour  – with Senior Markets Commentator Michael Santoli. A key focus for investors? One of the biggest energy IPOs of the decade, the first test of demand for new listings under Trump: Venture Global. The company's CEO joined the team with his outlook ahead of the first trade.   Also within the hour: the CEO CSX, breaking down results sending those shares lower; a look at Trump's battle with the banks over their treatment of conservatives; Boeing's warning of a big loss ahead; and the global economic outlook according to ECB President Lagarde, IMF Chief Georgieva, and more.   Squawk on the Street Disclaimer

APAC stocks saw an uninspiring start to the week following the mixed session on Wall Street on Friday and ahead of this week's risk events including the final FOMC, BoJ, and BoE meetings of the year.Moody's cut France's rating to "Aa3" from "Aa2", outlook stable, in an unscheduled rating revision, citing political fragmentation.South Korean MPs have successfully voted to impeach President Yoon in their second attempt. Yoon was suspended from official duties on Saturday while PM Han is to continue as acting president, according to Yonhap.Bitcoin surged to fresh all-time highs above USD 106,000 and propped up the broader crypto market, with Ethereum rising above USD 4,000.Looking ahead, highlights include EZ, UK, US Flash PMIs, EZ Labour Costs, ECB President Lagarde, de Guindos, Schnabel, and BoC's Macklem.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Will the NFP data corroborate bets of a Fed pause? Loonie traders await employment numbers as well. Australia's GDP to verify whether bets of May RBA cut are realistic. Euro could take directions from ECB President Lagarde.Risk Warning: Our services involve a significant risk and can result in the loss of your invested capital. *T&Cs apply.Please consider our Risk Disclosure: https://www.xm.com/goto/risk/enRisk warning is correct at the time of publication and may change. Please check our Risk Disclosure for an up to date risk warningReceive your daily market and forex news analysis directly from experienced forex and market news analysts! Tune in here to stay updated on a daily basis: https://www.xm.com/weekly-forex-review-and-outlookIn-depth forex news analysis on all major currencies, such as EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD.

Equities are entirely in the green as sentiment improves; NVDA earnings due after-hours.Dollar is back on a firmer footing, JPY underperforms and gives back the prior day's haven-induced strength.Bonds are on the backfoot, and with clear underperformance in Gilts after the region's hotter than expected CPI figures.Crude is incrementally firmer, XAU edges lower and base metals benefit from the risk tone.Looking ahead, ECB President Lagarde, de Guindos, BoE's Ramsden, Fed's Barr, Cook, Bowman & Collins, Supply from the US. Earnings from NVIDIA, Snowflake, Palo Alto, NIO, TJX, Williams-Sonoma.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed following the price swings seen across global markets on Tuesday in which the US indices staged a recovery.European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 0.8% on Tuesday.USD is broadly firmer vs. peers, JPY lags across the majors, EUR/USD failed to sustain a move onto a 1.06 handle.President Biden approved the provision of antipersonnel mines for Ukraine, according to The Washington Post.Looking ahead, highlights include German PPI, UK CPI, EZ Negotiated Wage Rates (Q3), ECB President Lagarde, de Guindos, BoE's Ramsden, Fed's Barr, Cook, Bowman & Collins, Supply from Germany & US, Earnings from NVIDIA.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

S&P futures are down (0.02%), pointing to a flat open. Asian markets mostly finished Tuesday trading on a higher note, while European markets are struggling to sustain opening gains. Asia top stories highlight the continuation of yesterday's momentum, with positive sentiment supported by Wall Street's performance. Brokers remain cautious about China's outlook despite gains in Hong Kong and Shanghai markets. European top stories focus on the weak economic backdrop and political tensions. ECB President Lagarde calls for bold EU policies, while geopolitical tensions rise with Russia's updated nuclear doctrine. The BoE's cautious outlook may delay rate cuts until February.Companies Mentioned: Alphabet, Blackstone, Spirit AeroSystems, Piedmont Lithium

APAC stocks began the week with a mildly positive following last Friday's tech-led declines on Wall St.European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.8% on Friday.FX markets are broadly contained with DXY, EUR/USD and USD/JPY on 106, 1.05 and 154 handles respectively.US President Biden's administration lifted restrictions on Ukraine using US-made long-range missiles to strike deep inside Russia.Looking ahead, highlights include ECB's Lagarde, de Guindos, Lane & Fed's Goolsbee.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Presidential Election results are indicative of a Trump victory and Republicans taking the Senate; House is too close to call.Equities soar with clear outperformance in the RTY with Trump poised to win the US election; Novo Nordisk +7.1% benefits after posting strong Q3 Wegovy sales.Dollar flies higher, DXY topped 105.00, before paring back to a current 104.90; EUR & JPY the clear underperformers amongst the G10s.USTs pressured and Bunds bolstered by the Trump Trade; US curve markedly steeper, attention on the House result to see if this continuesA soft session for the crude complex, pressured by the firmer Dollar and Trump's known stance on US drilling/supply; XAU softer, base metals dented but awaiting China stimulus detailsLooking ahead, NBP Policy Announcement, US Election Results, Comments from ECB President Lagarde, de Guindos & BoC's Rogers, Supply from the US, Earnings from Williams Companies Inc, CVS Health Corp, Gilead Sciences Inc, Sempra, Qualcomm Inc, Johnson Controls International & Arm Holdings.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Presidential Election results are indicative of a Trump victory and Republicans taking the Senate; House is too close to call.US futures have ripped higher, while European futures have been hit given the potential EZ growth implications.DXY is currently up 1.5% and has seen its largest jump since March 2020; EUR, JPY and antipodeans are suffering.In the fixed income space, US yields are higher across the curve with the curve bear-steepening.Bitcoin is up over 8% after surging to a record high, crude has been hit by the stronger USD.Looking ahead, highlights include German Industrial Orders, EZ PMIs (Final), NBP Policy Announcement, US Election Results, ECB President Lagarde, de Guindos & BoC's Rogers, Supply from Germany & US.Earnings from Pandora, Novo Nordisk, Banco BPM, Bper Banca, Enel, Poste Italiane, Snam, Vonovia, Commerzbank, Fresenius, Henkel, Puma, Siemens Healthineers, BMW, GEA Group, Evonik Industries, Eurazeo, Arkema, Teleperformance, Credit Agricole, Wise, Persimmon, Marks and Spencer, Beazley, Williams Companies Inc, CVS Health Corp, Gilead Sciences Inc, Sempra, Qualcomm Inc, Johnson Controls International & Arm Holdings.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were ultimately mixed with most major indices in the green after further encouraging Chinese PMI data.The RBA decision provided little surprise and the SoMP included a reduction in GDP and household consumption forecasts.US equity futures were rangebound, DXY was flat, and UST futures traded sideways as all eyes now turn to the US Presidential Election.European equity futures are indicative of an uneventful cash open with the Euro Stoxx 50 future flat after the cash market closed lower by 0.5% on Monday.Looking ahead, highlights include UK Composite/Services Final PMI, US International Trade, Canadian Exports/Imports, US ISM Services, NZ HLFS Jobs, BoC Minutes, BoJ Minutes, US Election, Speakers including ECB President Lagarde & Schnabel, Supply from UK & US, Earnings from UniCredit, Ferrari, Oersted, Fresenius Medical Care, Hugo Boss, Zalando, Deutsche Post, Emerson Electric Co, Super Micro Computer & Global Foundries.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mixed and trading tentatively on either side of the unchanged mark; US futures are incrementally firmer/flat.Dollar is slightly softer on US election day, Antipodeans benefit from constructive Chinese PMIs and Aussie was fairly unreactive to an unsurprising hold at the RBA.USTs are essentially unchanged, Bunds are pressured alongside Gilts; the latter was weighed on by its 2034 auction.Upward bias across industrials amid geopolitics and encouraging Chinese PMI data.Looking ahead, US International Trade, Canadian Exports/Imports, US ISM Services, NZ HLFS Jobs, BoC Minutes, BoJ Minutes, US Election, Speakers including ECB President Lagarde & Schnabel, Supply from the US, Earnings from Emerson Electric Co, Super Micro Computer & Global Foundries.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

ECB President Lagarde is set to speak again. It is very unlikely that the last 24 hours have changed the world view of the ECB president. The tone of yesterday's remarks signaled the direction of travel for Euro area rates was clear, though there was an attempt to insert some ambiguity about the pace of easing.

APAC stocks were mixed heading into month-end amid the backdrop of recent geopolitical escalation and as participants digested a slew of data releases.Chinese PMI data was overall mixed but included a contraction in both official and Caixin Manufacturing PMIs.Reports suggest that Israeli forces are concentrated on the northern front and preparing for a ground invasion of Lebanon.European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 0.7% on Friday.DXY is marginally softer, antipodeans lead across the majors, EUR/USD remains on a 1.11 handle, Cable is sub-1.34.Looking ahead, highlights include UK GDP, German Import Prices & Retail Sales, German State/Nationwide CPI, Italian CPI, Chicago PMI, Speakers including ECB President Lagarde, Fed Chair Powell, Bowman, BoE's Greene.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European equities post losses to varying degrees, with autos hit after several guidance cuts; US equity futures are flat/subdued with the focus on Fed Chair Powell later.Dollar is slightly softer, Antipodeans benefit from the positivity surrounding China whilst the traditional havens CHF & JPY lag.Bonds are modestly softer to varying degrees; Bunds were not too reactive after the German Regional CPI metrics painted a picture of cooling Y/Y inflation ahead of the Nationwide figure at 13:00 BST / 08:00 EDT.Crude oil has pared initial gains and is now modestly lower as markets digest the recent geopolitical updates between Israel/Hezbollah; XAU is subdued whilst base metals benefit from the Chinese optimism.Looking ahead, German CPI, Chicago PMI, Speakers including ECB President Lagarde, Fed Chair Powell, Bowman, BoE's Greene, Earnings from Carnival.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are entirely in the green with the region taking impetus from the prior day's strength seen on Wall Street; US futures are modestly firmer.Dollar is flat ahead of US PPI/IJC, JPY & CHF are subdued amid their haven statuses in risk-on trade.Bonds are modestly lower giving back some the prior day's advances ahead of ECB.Crude oil and base metals are on a firmer footing benefiting from the risk-on mood, precious metals hold an upward bias.Looking ahead, US IJC, PPI (F), ECB Policy Announcement, ECB President Lagarde's Post-Meeting Press Conference, Supply from the US, Earnings from Lennar, Adobe & Kroger.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The data calendar today is so quiet even ECB President Lagarde does not appear to be speaking. The lack of economic data to guide investors might be troubling—but recent market swings were not based on rational economic analysis.

There is almost nothing happening on the economic data calendar today—things are so quiet even ECB President Lagarde and former US Treasury Secretary Summers are not speaking. As markets abhor a vacuum, there is a danger that idle investors may start listening to politicians.

US Treasury Secretary Yellen receives an honorary doctorate today, which gives ECB President Lagarde an opportunity to speak in public. It would be poor taste to talk of policy on such an occasion. Of more interest is Yellen's motive for visiting Europe—the G7 finance ministers' meeting on Thursday. This may discuss using the income from frozen Russian assets (including central bank assets) to aid Ukraine. Markets may pay attention not just to the implications for Ukraine, but the implications around the security of asset ownership in a politically polarized world.

With geopolitics and the Fed's rate cut timetable in the spotlight, Carl Quintanilla, David Faber and Mike Santoli explored what to make of the recent market volatility: The Dow trying to snap a six-session losing streak and the Nasdaq coming off its worst day in two months. The anchors also discussed market reaction to earnings from the likes of UnitedHealth, Bank of America, Morgan Stanley and Johnson & Johnson. Sara Eisen sat down exclusively with ECB President Christine Lagarde to discuss inflation, interest rates and where the central bank diverges from the Fed on monetary policy. The NCAA women's basketball champion South Carolina Gamecocks rang the NYSE opening bell. Head Coach Dawn Staley and center Kamilla Cardoso -- the third overall pick in the 2024 WNBA Draft -- joined Carl, David and Mike at Post 9. Squawk on the Street Disclaimer

ECB President Lagarde signalled nothing markets did not already know yesterday. Rate cuts are coming. Economically, the dissenters on the governing council are probably correct and rate cuts would be better now—but precise timing on monetary policy is less important when the objective is cyclical (precision matters when the aim is liquidity or managing disorderly markets).

APAC stocks were mixed as participants second-guessed central bank policies and digested Chinese trade data.Fed's Kashkari (non-voter) said he currently thinks there will be two rate cuts for 2024 which could potentially just be one.European equity futures indicate a contained open with the Euro Stoxx 50 future -0.1% after the cash market closed up 0.5% on Wednesday.In FX, DXY was contained after yesterday's selling, JPY strength has continued with USD/JPY on a 148 handle.Looking ahead, highlights include German Industrial Orders, US Challenger Layoffs, International Trade, Initial Jobless Claims, Canadian Trade, Japanese Household Spending, ECB Policy Announcement, BoE Monthly Decision Maker Panel, Comments from ECB President Lagarde, Fed's Powell & Mester, Supply from Spain, France & USRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are mixed, with sentiment improving across the indices throughout the European morningDollar is lower weighed on by a strong JPY after further BoJ speak & Rengo wage demands; USD/JPY back below 148.00Treasuries are modestly firmer with EGBs boosted by a strong French auction and awaiting the ECBCrude is softer, XAU remains at highs and base metals are entirely in the greenLooking ahead, US Challenger Layoffs, International Trade, Initial Jobless Claims, Canadian Trade, Japanese Household Spending, ECB Policy Announcement, Comments from ECB President Lagarde, Fed's Powell & Mester, Supply from the US, Earnings from Costco & Marvell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

It's a quiet start to a busy week. The ECB makes a policy decision later this week—no one is expecting a change, but it allows for an official statement and ECB President Lagarde will speak. While Lagarde speaking might lack a certain scarcity value, the tone of recent comments from ECB members has tended towards rate cuts being later.

The ECB releases a negotiated wage settlement index. ECB President Lagarde has repeatedly highlighted wages as a factor determining policy moves. Real wages should be rising—after so long a period of weak wage growth, rebalancing is needed. Rising real wages should not be seen as an automatic cost pressure for inflation—changing working habits and automation have increased productivity, allowing companies to pay workers more in exchange for more output.

Today's calendar is so quiet even ECB President Lagarde is not speaking (former US Treasury Secretary Summers might be speaking, but that is just background noise at this stage).

ECB President Lagarde speaks. This is not an especially rare occurrence. In one of last week's multitude of speeches, Lagarde took time to brand economists a “tribal clique”. Today's remarks come after the ECB decides on policy, so could generate a flicker of interest. ECB colleagues have periodically had to “clarify” some of the president's remarks, but assuming that is not necessary this time vague signals of a summer easing seem likely.

Tune in for another exciting edition of the Macrocast! This week, Ylan, John, and Brendan dissect how geopolitical chess moves—like Russia's recent maneuvers and the Houthi conflicts—pose a threat to economic stability. The discussion includes commentary on stagflation and the Fed's delicate interest rate tightrope walk, considering how these decisions could affect the approaching 2024 election cycle. Through this lens, Ylan, John, and Brendan analyze the fiscal philosophies of emergent Republican leaders like Haley and DeSantis, compared to frontrunner Trump. They also turn their lens to Europe, analyzing ECB President Lagarde's hints at potential rate cuts and the broader implications for global monetary policy. They cap things off with a peek into the insights shared at Davos, where AI's encroachment into the C-suite heralds a transformative era for knowledge work. Listen in for all this and more!

ECB President Lagarde testifies before the European Parliament. A central bank head speaking to the legislature is something markets often care about, but we hear so frequently from Lagarde that the chances of her saying anything original are very low.

With US consumers consuming, the day ahead for markets looks subdued. ECB President Lagarde is speaking, but this is the fourth time in two weeks we have heard from Lagarde. It seems unlikely that she will add anything markets care to hear.

The Eurozone has been burdened with a further 0.25pps rate increase. As most current drivers of inflation in the Eurozone are not interest rate sensitive, the inflation impact of this rate hike is questionable. ECB President Lagarde attempted hawkishness at the press conference, but markets ignored the tone. No one has time to pay attention to every comment Lagarde makes. Lagarde speaks again today.

Link to slide deck: https://bit.ly/3P9KAsU   - Today we look at the market turning tail badly yesterday and posting a bearish reversal after a gap opening higher. The action was sympathetic with the massive deflation in NVDA options premium as the gap higher in that company's stock on the company's results was entirely erased during yesterday's session. Elsewhere, we look at the USD resurgent ahead of a speech from Fed Chair Powell at Jackson Hole, with ECB President Lagarde also set to peak. In fixed income, we note the continued elevation at the short end of the US treasury yield curve suggesting the market has priced in a higher-for-longer policy stance from the Fed. We note as well that today is the first day for major internet companies to face the EU's new Digital Services Act, with possibly huge implications. This and more on today's pod, which features Peter Garnry on equities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX. Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic