Podcasts about jpy

APAC stocks were mixed following the rebound on Wall St; Japan underperformed on return from holiday/reacted to the ruling coalition split.China's MOFCOM announced that it is taking countermeasures against five US-linked firms; said the US cannot have talks while threatening new restrictions.European equity futures indicate a mildly lower cash market open with Euro Stoxx 50 futures down 0.2% after the cash market closed with gains of 0.7% on Monday.DXY is a touch softer, antipodeans lag, JPY picked up as the risk sentiment soured, EUR/USD is on the rise and eyeing 1.16.French PM Lecornu's government is to present a budget aiming to reduce the deficit to 4.7% by end-2026, according to La Tribune.Looking ahead, highlights include UK Unemployment/Wages (Aug), German ZEW (Oct), US NFIB (Sep), IEA OMR, Fed Discount Rate Minutes, ECB's Cipollone & Villeroy, BoE's Bailey & Taylor, Fed's Powell, Waller, Collins & Bowman, BoC's Rogers, RBA's Hunter & Hauser, Supply from Netherlands, Italy & GermanyEarnings from BlackRock, JPMorgan, Goldman Sachs, Citi, Wells Fargo, Johnson & Johnson, Bellway & LVMH.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

China's MOFCOM announced that it is taking countermeasures against five US-linked firms; said the US cannot have talks while threatening new restrictions.French PM Lecornu's government is to present a budget aiming to reduce the deficit to 4.7% by end-2026, according to La Tribune.Equities lower across the board, as markets digest the latest trade-related escalations by China on the US; traders also await a number of US earnings.JPY benefits from haven bid, GBP hit by soft jobs, Antipodeans dented by risk-tone.Global paper firmer amid the weakened risk tone, Gilts lead after data, OATs await PM Lecornu.Crude benchmarks fall as Middle East tensions ease, XAU pulls back from new ATHs.Looking ahead, US NFIB (Sep), Fed Discount Rate Minutes, Speakers including ECB's Villeroy, Kocher, BoE's Bailey & Taylor, Fed's Powell, Waller, Collins & Bowman, BoC's Rogers, RBA's Hunter & Hauser, RBNZ's Conway. Earnings from JPMorgan, Goldman Sachs, Citi, Wells Fargo, Johnson & Johnson & LVMH.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

China reportedly launched a customs crackdown on NVIDIA (NVDA) AI chips, according to FT; US President Trump said maybe they will have to stop importing massive amounts from China.China's Transport Ministry announces plans to impose special port fees on US vessels; fees effective from 14th October.BLS is preparing to release a September US CPI report despite the shutdown, according to the NYT. Bloomberg sources suggested staff have been recalled for the preparation of the publication by the end of the month.European bourses are mixed and now generally hold a negative bias, US equity futures are slightly higher.DXY eases after four days of gains whilst JPY sees volatility on the 26-year-old coalition collapse.USTs gain whilst OATs lead, awaiting the French PM announcement.WTI/Brent are on the backfoot as the Gaza ceasefire plan; XAU is marginally higher.Looking ahead, Canadian Employment Report (Sep), US Uni. of Michigan Prelim. (Oct), Chinese M2/New Yuan Loans (Sep), Speakers including Fed's Daly, Goolsbee & Musalem.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks trade mixed with demand hampered following the negative handover from the US; European futures flat.RBNZ cut rates by 50bps and kept the door open to further rate cuts.US President Trump said a lot of things will be eliminated due to the shutdown, and he will tell us about the eliminated jobs in four or five days.USD remains on the front foot, NZD lags post-RBNZ, JPY digests soft real cash earnings data.Spot gold continued its advances, in which spot prices climbed above the USD 4,000/oz level.Looking ahead, highlights include German Industrial Output (Aug), Swedish CPIF Flash (Sep), NBP Policy Announcements, FOMC Minutes (Sep), BoE's Pill, ECB's Elderson & Lagarde, Fed's Musalem, Barr, Goolsbee & Kashkari, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

EU sees new US trade demands hollowing out deal struck by US President Trump, according to Bloomberg citing sources.European bourses are broadly firmer but with ASML (-1.7%) weighing on the AEX; US equity futures are modestly higher.USD continues to rally, boosted by a weak JPY and NZD; the Kiwi is the clear underperformer after the RBNZ delivered a jumbo 50bps cut and left the door open for more rate reductions.Global paper moves higher, OATs outperform, awaiting French PM Lecornu later.XAU topped the USD 4,000/oz mark, crude is continuing to rebound as China is set to re-enter the market tomorrow.Looking ahead, NBP Policy Announcements, FOMC Minutes (Sep), Speakers including BoE's Pill, ECB's Elderson & Lagarde, Fed's Musalem, Barr, Goolsbee & Kashkari, NVIDIA CEO Huang, French PM Lecornu, Supply from US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed despite the tech-led advances on Wall St, with several holiday closures, Japanese stocks rallied again as the post-LDP election euphoria persisted.Democrat and Republican bills to end the US government shutdown failed to secure sufficient votes for passage in the Senate, as expected.European equity futures indicate an uneventful cash market open with Euro Stoxx 50 future flat after the cash market closed with losses of 0.4% on Monday.DXY held onto yesterday's gains, which were triggered by JPY and EUR selling. USD/JPY remains above 150.French President Macron said he has asked outgoing PM Lecornu to hold final talks with political partners to stabilise the country.Looking ahead, highlights include German Industrial Orders (Aug), US RCM/TIPP Economic Optimism, NY Fed SCE, Atlanta Fed GDP, Canadian Trade Balance (Aug), Ivey PMI (Sep), (Suspended Releases: US International Trade, Consumer Credit), EIA STEO, Fed's Bostic, Bowman, Miran, Kashkari, ECB's Lagarde & Nagel, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japan's ruling LDP elected Sanae Takaichi as its leader, who is set to become Japan's first female PM; Nikkei 225 +4.7%, JPY sinks.European bourses opened modestly lower and then took a hit following French PM Lecornu's decision to resign; CAC 40 -1.6%. US equity futures are modestly firmer across the board.USD has been boosted as JPY ponders looser fiscal/monetary mix and EUR hit by French political risk.10yr JGBs soared then faltered after Takaichi while OATs were sold after Lecornu resigned.Crude benchmarks gain after OPEC+ producers agreed to a modest production increase of 137k bpd in November.Looking ahead, US Employment Trends (Sep), New Zealand NZIER (Q3), Speakers including BoE's Bailey, ECB's Lagarde, Earnings from Constellation Brands.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks began the week mixed amid several holiday closures throughout the week and the ongoing US government shutdown.Nikkei 225 rallied, JPY fell and the JGB curve steepened amid hopes of fiscal loosening and a delay to BoJ policy normalisation following Sanae Takaichi's LDP leadership victory.Crude futures gained after OPEC+ producers agreed to a modest production increase of 137k bpd in November.Israel and Hamas are preparing for mediated negotiations on Monday in Egypt; hopes for a ceasefire have increased.NEC Director Hassett commented that mass layoffs of federal workers will begin if President Trump sees that shutdown talks are going nowhere.Looking ahead, highlights include EZ Construction PMI (Sep), Sentix (Oct), Retail Sales (Aug), US Employment Trends (Sep), New Zealand NZIER (Q3), BoE's Bailey, ECB's de Guindos, Lane, Escriva & Lagarde.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

This week, our Global FX Strategists, Arindam Sandilya and Patrick Locke break down the latest on 1) the US government shutdown's impact on the dollar, 2) next week's Japan LDP election for JPY, and 3) notable flows from recently-released FX reserve manager data for 2Q. This podcast was recorded on 03 October 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5093564-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

European bourses and US futures are firmer into a quieter than initially scheduled session on account of the gov't shutdown, ES +0.3%.DXY underpressure, down to a 97.70 trough. JPY is the relative laggard after remarks from Ueda, NZD continues to climb.USTs await ISM Services, Bunds unreactive to PMI revisions and remarks from Lagarde re. Knot. Gilts are attentive to the OBR's first forecast round.Crude saw fleeting upside on Hamas asking for more time to consult on Trump's Gaza plan, XAU pauses for breath.Looking ahead, US Final Composite PMIs (Sep), ISM Services (Sep), ECB's Schnabel, Fed's Williams, Jefferson, BoE's Bailey.Due to the US government shutdown, the following data will not be released: US NFP (Sep).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The U.S. government shutdown is here—but what does it mean for traders? In this episode, Akil Stokes explains what a shutdown is, why it happens, and how it impacts the markets. From the U.S. Dollar, Gold, and JPY to the upcoming FOMC decision, learn why this time might be different and what traders should watch for.Please leave me a rating & review if you haven't done so already.Your Trading Coach - Akil

US Government has officially gone into a shutdown. Weighing on the general risk tone in the early morning and the USD.European bourses have since bounce and extended to highs, Euro Stoxx 50 +0.3%; Healthcare leading. Stateside, futures remain lower awaiting data, ES -0.3%.DXY delved as low as 97.46 before recovering modestly, JPY tops the leaderboard, GBP & EUR both firmer though EUR losing some steam more recently.USTs contained awaiting data and shutdown updates, Bunds hit by soft supply, Gilts lag on Reeves.Crude initially steady but under increasing pressure this morning, XAU has resumed its ascent.Looking ahead, highlights include US ADP (Sep), ISM Manufacturing (Sep), Atlanta Fed GDP, BoC Minutes, Fedʼs Barkin, ECBʼs Elderson, de Guindos, Rehn, BoCʼs Rogers.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Today we consider the risks of a US government shut down and why it is likely to happen even if it doesn't extend for long, what kind of damage it can inflict on the economy and more. Also, we note the sudden surge in the JPY as the wily currency is back on the rally path after nearly getting drop kicked above 150.00 in USDJPY just two trading days ago. Earnings, geopolitics, some great links to other content and more also covered on today's pod, which was hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (with a one- to two-hour delay from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic

European bourses & US futures modestly lower into a session of data & Fed speak, awaiting updates on the increasingly likely US gov't shutdown.DXY extending on recent pressure, EUR and GBP both firmer, JPY bid for a 3rd consecutive session, AUD bolstered by a hawkish-hold.Fixed benchmarks hit highs on cooler French HICP but have since trimmed with EGBs in the red after hotter German State CPIs, mainland due shortlyCrude continues to falter, XAU hit another ATH but has since come under pressure.Looking ahead, highlights include US Consumer Confidence, JOLTS Job Openings. Speakers include RBA's Bullock, ECB's Cipollone, Elderson, Fed's Goolsbee, BoE's Lombardelli, Mann, Breeden. Earnings from Nike, Lamb Weston.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

A firmer start to the week for equities, Euro Stoxx 50 +0.3%, ES +0.5%; focus on a packed labour market agenda for the week and the looming US gov't shutdown.President Trump will be meeting with congressional leaders at 20:00BST/15:00ET; ahead of this, Trump has said if the Democrats refuse to make a deal "the country closes".USD pulling back from last week's data induced gains, JPY leads into a packed week and supported by BoJ's Noguchi. EUR & GBP also firmerFixed benchmarks in the green, Bunds lead after mostly cooler-than-expected Spanish flash figures, Gilts await Chancellor ReevesCrude curtaield by OPEC+ production reports, XAU at another ATH, Copper posting modest gainsLooking ahead, highlights include ECB's Cipollone, Muller, Kazaks, Schnabel, Lane, BoE's Ramsden, Fed's Waller, Hammack, Musalem, Williams, Bostic. Events include Bank of Israel Announcement, Labour Party Conference (29th Sept - 1st Oct). Earnings from Jefferies, Carnival.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks eventually traded mixed following the subdued lead from Wall Street; Japanese markets returned from holiday, Chinese markets were choppy before posting gains.Fed Chair Powell said that towards the next meeting, the Fed will look at labour market, growth data, and inflation data to assess whether policy is in the right place, adding that if it is not, they will move it there.DXY edged higher throughout the APAC session, EUR/USD briefly dipped under 1.1800, AUD was boosted by Aussie CPI, JPY weakened slightly post-PMI.US President Trump shifted his stance on Ukraine and said he thinks Ukraine, with the support of the EU, is in a position to fight and "win" all of Ukraine back in its original form.OpenAI, Oracle (ORCL), and Softbank (9984 JT) announced five new US data centres; NVIDIA (NVDA) director Mark A. Stevens sold over 350k common shares.European equity futures are indicative of a softer cash open with the Euro Stoxx 50 future -0.4% after cash closed +0.6% on Tuesday.Looking ahead, highlights include German Ifo Survey (Sep), Supply from Italy, UK, Germany, US, Speeches from BoE's Greene, Fed's Daly.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Today we run down another solid session for the US market, with enthusiasm in abundance on the Nvidia investment in Intel, a development we discuss with Saxo Equity Strategist Ruben Dalfovo, together with the surge in ASML and Crowdstrike yesterday. Also, a preview of some names reporting next week, including recent darling Micron, key developments in FX as the US dollar is on the comeback path and the JPY churns post-BoJ. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (with a one- to two-hour delay from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic

Following the Fed's decision to cut by 25bp, we discuss why we now expect substantially more rate cuts in 2025-26, and the impact of the appointment of a new Fed chair in coming months. In Europe, we preview the on-hold decisions we expect from both Swiss National Bank and Riksbank next week. In Asia, we put a spotlight on Indonesia. In this episode, we also speak with Yusuke Miyairi, our G10 FX strategist, who explains why he sees USD/JPY lower in the near-term, amid the latest political developments in Japan. Chapters: US: 01:59, Europe: 10:23, Asia: 15:51, Japan: 17:24.

The market was desperate for FOMC takeaways, but alas, despite interesting details, the overall picture was one that mostly validated the existing lay of the land, resulting in some choppy market action but no big changes in the macro or FX picture by later this morning in Europe, though risk appetite seems to be getting a further boost. Are equity investors overreaching soon? Also on today's pod, single stock news, a look at the upcoming Bank of Japan meeting tonight as the JPY punches to new lows in place and much more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (with a one- to two-hour delay from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic

APAC stocks traded mixed amid some cautiousness ahead of upcoming risk events and despite the fresh record levels on Wall St.US Appeals Court declined to allow Trump to remove Federal Reserve Governor Cook; Cook can attend the FOMC's September 16th-17th meeting.US Senate voted 48-47 to confirm US President Trump's Fed nominee Miran to join the Fed board.European equity futures indicate an uneventful cash market open with Euro Stoxx 50 future +0.1% after the cash market closed with gains of 0.9% on Monday.DXY is a touch softer, extending on yesterday's downside. JPY marginally outperforms, whilst antipodeans lag.Crude futures marginally extended on the prior advances. 10yr UST futures plateaued overnight after catching a bid yesterdayLooking ahead, highlights include UK Jobs Report (Jul), Italian CPI Final (Aug), EZ Industrial Production (Jul), Labour Costs (Q2), German ZEW Survey (Sep), US Retail Sales (Aug) and Industrial Production (Aug), Import Prices (Aug), Atlanta Fed GDP, Canadian CPI (Aug), RBA's Hauser & ECB's Escriva, Supply from Germany, UK & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Treasury Secretary Bessent will meet with Chinese Vice Premier He and other senior Chinese officials next week in Madrid, while Bessent and He are to discuss key US-China national security, economic and trade issues.US equity futures are lower across the board, RTY lags. European bourses began marginally firmer, but have since waned.USD attempts to recover from the pressure seen on Thursday's data, DXY at highs, while the JPY lags.Fixed income is in the red, though USTs are set to end the week near-enough unchanged. Gilts are the relative outperformer post-GDP.Crude began in the red, extending to a new WTD low before bouncing and recouping some of Thursday's pressure. Metals firmer despite the USD strength.Looking ahead, highlights include US University of Michigan Prelim (Sep), CBR Announcement, Credit Rating Reviews for France & Spain. US President Trump on Fox.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are modestly firmer, whilst US equity futures are mixed ahead of the ECB and US CPI.DXY is firmer and towards session highs; JPY underperforms, with USD/JPY rising to just shy of the 148.00 mark.USTs and Bunds are a touch softer into ECB/US CPI and a 30-year auction following a strong 3- and 10-year outing earlier this week.Industrial commodities and gold are subdued, awaiting key risk events; some modest upticks seen on Poland, Ukraine & Lithuania, calling the recent Russian drone incursion an “unprecedented” provocation.Looking ahead, US CPI (Aug) & Jobless Claims, ECB Policy Announcement & Press Conference, CBRT Announcement, OPEC Monthly Report, Supply from the US, and Earnings from Adobe.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Global equity futures are modestly mixed; Anglo American & Teck merge to create a USD 50bln mining giant.USD is a little lower whilst JPY soars amid hawkish BoJ reports.OAT-Bund 10yr spread a little wider in the aftermath of French PM Bayrou's removal, JGBs hit by BoJ sources.BoJ reportedly sees some chance of hiking this year, despite the political situation, via Bloomberg citing sources; likely to keep rates unchanged on September 19thCrude rebounds and metals non-committal awaiting the next impetus.Looking ahead, US NFP Prelim. Benchmark Revisions, Apple Event, Comments from BoE's Breeden, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japanese PM Ishiba said he has decided to resign as LDP president and gave instructions to hold an emergency LDP leadership election; LDP is making final arrangements for a leadership vote on October 4th, according to TBS.US President Trump said Waller, Warsh and Hassett are the three finalists for the Fed chair nomination.US-China trade talks have reportedly made little progress towards a deal, and an impasse was hit on the fentanyl issue, according to WSJ.European bourses hold a positive bias, whilst US equities futures are incrementally firmer/flat.JPY lags as Japanese PM Ishiba resigns, EUR eyes the French PM's confidence vote later today.USTs/Bunds are essentially flat; more focus on Japan's emergency LDP election; OATs await France.Crude gains post OPEC and amid geopolitics; Gold soars to another ATH.Eight OPEC+ members agreed to raise the oil production by 137k bpd in October (as touted), citing a steady global economic outlook and current healthy market fundamentals.Looking ahead, US Employment Trends (Aug), NY Fed SCE & French Confidence Vote.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses and US equity futures are modestly firmer ahead of US data.USD awaits a data deluge, Antipodeans lag and JPY digests potential US/Japan auto tariff reduction.EGBs and Gilts bounce while USTs remain flat into data; Spanish auction was well received, whilst some short-lived pressure was seen on the French outing.Oil pulls back as traders brace ahead of this weekend's OPEC meeting; some upside in the complex seen after Russian Deputy PM Novak said OPEC-8 are not discussing production increase now.Looking ahead, US ISM Services PMI (Aug), ADP National Employment (Aug), Challenger Layoffs (Aug), Jobless Claims, Atlanta Fed GDP, Canadian Trade Balance (Jul), BoE DMP, Senate Banking Committee to hold hearing for US President Trump's Fed nominee Stephen Miran, Speakers including Fed's Williams & RBA's Hauser.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were predominantly lower following the weak handover from Wall St; sentiment dampened by global debt concerns.European equity futures indicate a higher cash market open with Euro Stoxx 50 future up 0.3% after the cash market closed with losses of 1.4% on Tuesday.DXY is holding onto yesterday's gains, JPY and GBP remain softer vs. the USD after a bruising session on Tuesday.USTs lack direction following yesterday's bear-steepening. Bunds are a touch softer, JGB tracked recent losses in global peers.Crude futures lacked conviction after whipsawing yesterday, spot gold is steady after printing another fresh ATH.UK Chancellor Reeves has pencilled in November 26th for the date of the Budget, according to Huffington Post.Looking ahead, highlights include EU Producer Prices, EZ, UK, US Services PMI (Final), US Durable Goods R (Jul), JOLTS Job Openings (Jul), NBP Announcement, Fed Beige Book, BoE's Mann, Breeden, Bailey, Lombardelli, Greene & Taylor, ECB's Lagarde, RBA Governor Bullock, Fed's Musalem & Kashkari, Supply from Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Treasury Secretary Bessent said he plans to write a brief for the US Solicitor General to file that defends US President Trump's tariffs.European bourses opened mixed but are now mostly lower; US futures also slip, with underperformance in the RTY.GBP and JPY selling helps support DXY into key US data.Political and fiscal turmoil drives yields higher, no move to EZ HICP, USTs await ISM.Crude edges higher despite risk aversion and a firmer dollar, with geopolitics in focus."The Israeli prime minister is holding a meeting to discuss the possibility of full control of the West Bank and measures against the Palestinian Authority", according to Iran International citing i24Looking ahead, US ISM Manufacturing PMI (Aug), Atlanta Fed GDP, Speakers including ECB's Elderson, Muller & Nagel.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mostly lower with the region cautious amid a lack of fresh drivers and following the holiday lull stateside.BoJ Deputy Governor Himino reiterated it is appropriate to continue raising interest rates in accordance with improvements in the economy and prices but noted high uncertainty.European equity futures indicate a slightly softer cash market open with Euro Stoxx 50 future down 0.2% after the cash market closed with gains of 0.3% on Monday.DXY is higher, JPY lags, EUR/USD has reverted back onto a 1.16 handle and antipodeans lag alongside the soft risk tone.Bunds are subdued following the prior day's retreat, crude futures extended the prior day's gains, spot gold hit a fresh record high above USD 3.500/oz. Looking ahead, highlights include EZ Flash HICP (Aug), US ISM Manufacturing PMI (Aug), Atlanta Fed GDP, Speakers including ECB's Elderson & Nagel, and Supply from Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump threatened to impose substantial additional tariffs on countries that do not remove discriminatory actions such as digital taxes.US President Trump posted a letter removing Fed's Cook from her position with immediate effect; Cook says she will not resign.European bourses are on the backfoot, but with clear underperformance in the CAC 40 as French politics take centre stage; US equity futures are slightly lower.USD is steady, EUR digests French political turmoil, JPY marginally outpaces peers.USTs pressured in reaction to Trump-Cook saga; Gilts/OATs digest regional political woes.XAU outperforms after Trump sends letter to Fed's Cook; Crude gives back geopolitical-driven gains.Looking ahead, US Durable Goods (Jul), Consumer Confidence (Aug), Atlanta Fed GDP, NBH Announcement, E3/Iran Nuclear talks, Fed Discount Rate Minutes, Speakers including Fed's Barkin & BoE's Mann, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses pare some of Friday's gains; US equity futures are mixed, with the RTY holding afloat.USD struggles to recoup Friday's lost ground in a quiet start to the week; JPY underperforms despite hawkish-leaning commentary via BoJ's Ueda.USTs pause for breath following Powell-induced upside, whilst Bunds move lower.Crude benchmarks are very modestly firmer with focus on geopolitics; XAU is on the backfoot.Holiday: UK Summer Bank HolidayHighlights include US National Activity (Jul), Comments from Fed's Logan.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Trump hailed great progress at Putin meeting, but one or two significant items; no ceasefire was achieved.Trump to meet with European leaders and Zelensky later today; Zelensky supports trilateral meeting between Ukraine, the US and Russia.Kremlin said a trilateral summit with Ukraine was not discussed yet and there is no date set for another Trump-Putin meeting.APAC stocks began the week mostly higher following the recent Trump-Putin summit; Europe is set for a firmer open.DXY is steady with traders mindful of Jackson Hole later in the week, JPY narrowly lags across the majors.Crude futures were little changed post-Trump-Putin meeting, spot gold saw two-way price action before gaining.Looking ahead, highlights include US President Trump meeting with Ukrainian President Zelensky and European LeadersRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks predominantly traded in the green after the region mostly shrugged off the indecisive performance seen on Wall St.US President Trump will participate in a bilateral program with the President of the Russian Federation in Alaska at 11:00 AM (15:00EDT/20:00BST) and will depart Alaska at 17:45 (21:45/02:45BST), according to the White House.Potential Fed Chair pick Zervos backed aggressive interest rate cuts, according to CNBC; Fed Chair Powell is to speak 10:00EDT/15:00BST on August 22nd at Jackson Hole, according to the Fed schedule.Nikkei 225 rallied above the 43,000 level and JPY was boosted with sentiment lifted following stronger-than-expected Japanese GDP data. 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 0.9% on Thursday.Looking ahead, highlights include German WPI (Jul), US Retail Sales (Jul), US University of Michigan Prelim (Aug), Import/Export Prices (Jul), Industrial Production (Jul), Atlanta Fed GDP, Trump-Putin summit & Joint Press Conference.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Trump and Putin will meet in Alaska at 20:00BST/15:00ET, Trump will then depart just under seven hours later.European bourses began with gains, Euro Stoxx 50 +0.4%; follows a mostly higher APAC handover as soft Chinese data was shrugged off.US futures firmer, but have drifted off best in the European morning, ES +0.1%; UNH +12% and INTC +4.5% in the pre-market.USD gives back some of its PPI-inspired gains, JPY tops the G10 leaderboard after domestic data.A contained start for USTs into Tier 1 data points and the Alaska summit, Bunds dipped on the constructive European risk tone.Crude benchmarks lower despite the tone and USD, looking to the Putin-Trump meeting; XAU firmer.Looking ahead, highlights include US Retail Sales (Jul), US University of Michigan Prelim (Aug), Import/Export Prices (Jul), Industrial Production (Jul), Atlanta Fed GDP, Fed's Goolsbee, Trump-Putin summit & Press Conference.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

I'm excited to share something I've negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER' or filling out the form on the page I've linked below.All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don't miss out!The macro situation is worse this summer compared to last summer, so where's Japan's carry trade? If the July 2024 jobs report provoked a violent financial backlash, you'd think the July 2025 version would have, too. The fact it didn't points to several key developments, important warnings from JPY and JGBs. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUThis video was sponsored by Glint. Graphic representations of value are for illustrative purposes only. The Glint Debit card is issued by Sutton Bank, Member FDIC. The sale, purchase and storage of precious metals are offered by Glint, and not Sutton Bank. Your investment in precious metals through Glint is:-Not insured by the FDIC.-Not a deposit or other obligation of, or guaranteed by, Sutton Bank.-Subject to investment risks, including the possible risk of loss of the principal amount invested.All investments involve risk, including possible loss of principal. The value of precious metals is affected by many economic factors, including but not limited to the current market price, demand, perceived scarcity, and quality of the precious metal.  Precious metals can increase or decrease in value. Past performance is not a guarantee of future results. As such, investing in precious metals may not be suitable for everyone.Glint Pay Inc. is a U.S. based authorized Card Program Manager, not a bank. Banking services are provided by our partner Sutton Bank, Member FDIC. Glint Pay Inc. employs effective Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and fraud prevention systems and controls to mitigate and combat risks.

POTUS suggested there will be no India tariff talks until things are resolved; Bessent said China tariffs can be on the table "at some point".European bourses are mostly incrementally firmer in quiet newsflow; US futures are also marginally higher, with some mild outperformance in the RTY.DXY is modestly higher, paring some of the downside seen in the prior day; JPY underperforms.Bonds hold a slight bearish bias, Gilts in focus and lagging pre-Pill.Initial downward bias in crude complex has since reversed, to trade slightly higher; XAU flat.Looking ahead, Canadian Jobs Report (Jul), Japanese LDP Joint Plenary Meeting, Speakers including BoE's Pill & Fed's Musalem, Earnings from fuboTV, Tempus AI, Wendy's.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

BoJ maintained rates as expected, raised growth and inflation outlook. Continued to note uncertainty over trade; Ueda said, no large change to central outlook that growth pace will slow down and underlying inflation stalls.US President Trump announced that South Korea will be subject to a 15% tariff and make USD 350bln in investments in the US.European bourses opened higher but have waned off best levels, NQ outperforms after stunning earnings from META +12% & MSFT +8%.Ongoing USD rally pauses for breath ahead of PCE, JPY pressured after BoJ Governor Ueda.JGBs boosted by Ueda, USTs towards the post-Powell lows into PCE.Crude lacklustre, Gold benefits from haven flows & copper dented by Trump tariff details.Looking ahead, US Challenger Layoffs, PCE (Jun), Jobless Claims, Employment Wages, Chicago PMI, Atlanta Fed GDPNow, Canadian GDP, SARB Policy Announcement.Earnings from Apple, Amazon, Strategy, Coinbase, Reddit, Riot, Cloudflare, Roku, CVS, Roblox, AbbVie, Norwegian Cruise Line, Cigna, Howmet Aerospace, Mastercard & PG&E.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Lee Hardman, Senior Currency Analyst, sits down with Simon Mayes, Head of Corporate Sales for the UK, Ireland, and Switzerland (FX), to explore the outlook for the Japanese yen following Japan's Upper House election and the recent US-Japan trade agreement. With a potential policy shift on the horizon, could a hawkish Bank of Japan stance in the coming week give the JPY a boost?

US President Trump said he spoke with Fed Chair Powell on rates and the meeting was productive, while he noted that there was no tension and he repeated several times that he believes Powell will do the right thing.European bourses are under pressure but off worst levels, LVMH +4% post-earnings; US futures trade mixed around the unchanged mark.DXY is a touch higher, JPY lags, GBP digests retail sales miss.USTs essentially flat, Bunds weighed on by continued ECB repricing.Gold loses its shine while Crude remains rangebound awaiting the next catalyst.Looking ahead, US Durable Goods, Atlanta Fed GDPNow. Earnings from AutoNation & AON.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced trade deals with the Philippines, Indonesia and Japan, with the latter involving a USD 550bln investment in the US and 15% tariffs for Japanese goods.Japanese PM Ishiba is likely to announce resignation as early as this month, according to Yomiuri – reports which he later pushed back on.European bourses benefit from the US-Japan trade deal; RTY continues to outperform.USD is flat, Antipodeans are the G10 outperformers whilst the EUR lags a touch; JPY choppy on US-Japan trade deal and reports surrounding PM Ishiba.JGBs slump on trade updates, peers elsewhere lower given the risk tone and into supply.Crude complex choppy awaiting fresh catalysts, XAU takes a breather following recent upside.Looking ahead, US Existing Home Sales, Supply from the US. Earnings from Tesla, Alphabet, ServiceNow, IBM, Chipotle, GE Vernova, Freeport, AT&T, Thermo Fisher Scientific, Lamb Weston, Infosys, Moody's, CME & Hilton.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced trade deals with the Philippines, Indonesia and Japan, with the latter involving a USD 550bln investment in the US and 15% tariffs for Japanese goods.US stocks closed mixed with underperformance in tech, APAC stocks were mostly higher; Nikkei 225 outperformed.Japanese PM Ishiba is likely to announce resignation as early as this month, according to Yomiuri. Other reports suggest August-end. European equity futures indicate a positive cash market open with Euro Stoxx 50 future up 1.2% after the cash market closed with losses of 1.0% on Tuesday.DXY is flat, havens (CHF, JPY) lag G10 peers, antipodeans lead, EUR/USD remains on a 1.17 handle.Looking ahead, highlights include EU Consumer Confidence, US Existing Home Sales, Supply from UK, Germany & US.Earnings from VAT, Lonza, Equinor, Thales, Tesla, Alphabet, ServiceNow, IBM, Chipotle, GE Vernova, Freeport, AT&T, Thermo Fisher Scientific, Lamb Weston, Infosys, Moody's, CME & Hilton.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed after failing to sustain the early upward momentum seen at the open following the fresh record intraday highs on Wall St.White House Press Secretary Leavitt said they could see more tariff letters for August 1st.European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.4% after the cash market finished with losses of 0.3% on Monday.DXY is steady, JPY is the marginal laggard as Japan returns from holiday, EUR/USD failed to hold onto the 1.17 handle.Looking ahead, highlights include US Richmond Fed Index, NBH Policy Announcement, Fed Chair Powell & Bowman, ECB's Lagarde, BoE's Bailey, Supply from UK & Germany.Earnings from Akzo Nobel, ASM International, Dassault Aviation, Julius Baer, Lindt, SAP, Intuitive, Capital One, Baker Hughes, Coca Cola, Lockheed Martin, Philip Morris, RTX, DR Horton, Northrop Gruman, Danaher, MSCI & Pulte.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japanese PM Ishiba vowed to stay on despite exit polls from the election showing that the ruling coalition lost its majority.APAC stocks began the week mostly in the green, markets in Japan were shut for a holiday.EU envoys are set to meet as early as this week to formalise a retaliation plan in the event of a possible no-deal scenario with the US, Bloomberg.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 0.3% on Friday.DXY is a touch lower, JPY outperforms post-election, EUR/USD remains on a 1.16 handle.Looking ahead, highlights include Canadian Producer Prices, US Leading Index Change.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japanese PM Ishiba vowed to stay on despite exit polls from the election showing that the ruling coalition lost its majority.EU envoys are set to meet as early as this week to formalise a retaliation plan in the event of a possible no-deal scenario with the US, according to Bloomberg.European bourses are modestly lower, US equity futures are higher with outperformance in the RTY.JPY leads post-election, DXY trundles lower, EUR awaits trade updates.Bonds are boosted after PM Ishiba loses Upper House majority, but not as bad as feared.Choppy trade in crude while base metals are underpinned by China's dam constructionLooking ahead, Canadian Producer Prices, US Leading Index Change, BoC SCE, NZ Trade Balance, Earnings from Verizon, Domino's Pizza & Cleveland Cliffs.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced a 35% tariff for Canada and flagged a potential 20% blanket tariff for other countries; US is set to keep the tariff exemption for USMCA goods, according to a US official.Trump also noted the EU will receive a letter by Friday. Ahead of this, European bourses are in the red with sectors (ex-energy, post-BP) following suit.Stateside, futures are lower into a docket headlined by potential trade developments, ES -0.6%.USD extends on its recent recovery, resilient to trade updates. DXY notched a 97.89 peak, G10s broadly under pressure with the JPY lagging.Fixed was lifted by the above updates, since pulled back and moved into the red, a pullback intensified by a hawkish interview with ECB's Schnabel.Choppy trade for crude awaiting developments on numerous in-play factors, precious metals glean from the risk tone while base peers are tarnished.Looking ahead, highlights include Canadian Jobs, Fitch on Germany, DBRS on Sweden, Speakers including ECB's Cipollone. Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said 12 nations will receive tariff letters on Monday (deliveries to start from 17:00BST). Also, threatened 10% additional tariff for those aligned with BRICS.US Treasury Secretary Bessent said letters to trading partners will notify them that if no deal is reached, they will revert to April 2nd tariff levels; tariffs to take effect on August 1st.European bourses began the day with modest gains but action is tentative, Euro Stoxx 50 +0.3%; ES -0.4% amid trade uncertainty, NQ -0.5% underperforms on TSLA -6.5%USD firmer vs all major peers. Antipodeans hit by the tone, JPY on the USD strength and soft domestic wage data, Cable below 1.36 and EUR/USD at a 1.1723 lowFixed benchmarks contained and experiencing two-way trade into the tariff letters, USTs near-enough unchanged, Bunds lower but off worstCrude began on the backfoot after OPEC+ eight agreeing to increase output by 548k (prev. 411k); since, benchmarks off lows and modestly firmer. Metals dented by the USD.Looking ahead, highlights include supply from the UK (BoE Gilt sale), US President Trump meeting Israeli PM Netanyahu & US tariff lettersClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mixed following a similar handover from the US where participants digested data, trade commentary and a slew of central bank rhetoric.US President Trump said he doubts the US will have a deal with Japan but will possibly have an agreement with India.US Senate narrowly passed President Trump's sweeping tax and spending bill; House to vote by Thursday "at the latest".European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.6% after the cash market closed with losses of 0.4% on Tuesday.DXY is modestly firmer, JPY narrowly lags on negative trade headlines, EUR/USD is lingering just below the 1.18 mark.Looking ahead, highlights include EU & Italian Unemployment Rate, US Challenger Layoffs, ADP National Employment, Canadian Manufacturing PMI, NBP Policy Announcement, ECB's de Guindos, Cipollone, Lane, Lagarde & BoE's Taylor, Supply from UK & Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses in the green, shrugging off a mixed APAC lead. US futures post modest gains, RTY outperformsUSD attempts to atone for recent pressure. DXY eyes 97.00 to the upside, JPY lags, EUR and GBP both hitFixed in the red, Gilts lag after the UK Welfare Reform u-turn. USTs await data and fiscal updatesUS House set to convene at 09:00ET, Punchbowl reports several sources expressing alarm at the number of no's from lawmakersCrude in the green and despite light newsflow continue to climb, metals mixedLooking ahead, highlights include US Challenger Layoffs, ADP National Employment, Canadian Manufacturing PMI, NBP Policy Announcement, ECBʼs Lane & Lagarde.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

In this episode of At Any Rate Arindam Sandilya, Juan Duran-Vara and Ladislav Jankovic discuss FX Derivatives themes of interest heading into 2H25. We briefly go over the FX volatility backdrop and then pivot to the six themes: carry, USD skew, correlations, directional exposure in JPY and EUR, JPY surface setup, and wrap it up with the just-in case recession hedges.   Speakers Arindam Sandilya, Global FX Strategy Ladislav Jankovic, Global FX Strategy Juan Duran-Vara, Global FX Strategy   This podcast was recorded on June 30, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5018065-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Today we talk through the US "Operation Midnight Hammer" bombing of Iran's nuclear facilities and the implications from here, as well as why we have seen limited fallout for global markets thus far. As well, we discuss why the JPY is suffering a fresh pounding overnight for reasons entirely unrelated to geopolitics. This and much more on today's pod, which features Saxo Head of Commodity Strategy Ole Hansen and Saxo Global Head of Macro Strategy John J. Hardy.   Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo.

Today a look at Japanese Government Bond yields getting crushed overnight on signs that the MoF is planning to tweak its issuance to avoid further pressure on long yields. This inspired a JPY sell-off and the US dollar has backed up across the board as well. Elsewhere, risk appetite is in fine form, if we have some longer term concerns on heavy retail participation. Today's pod hosted by Global Head of Macro Strategy John J. Hardy Jacob's preview of Nvidia earnings John's second article in four-part series covering Rule #2 for Trading and Investing in the Trump 2.0 era.   Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo.