European bourses are on the backfoot; US equity futures mixed, with the NQ boosted by post-earning strength in AMZN +12.8 & AAPL +1.7%.AMZN beat and boosted on strong cloud growth; AAPL strong results and predicts holiday boom in iPhone sales.DXY remains firm post-FOMC. AUD lags post-Chinese PMI.Commodities trade muted as crude awaits OPEC+ meeting.Bonds are under modest pressure given the earnings-driven US...

Further positive trade rhetoric from the US, mega-cap earnings in focus; AMZN +12.9% after-hours, AAPL +2.7%European futures point to a slightly softer open, US futures rebounded from the Powell pressure amid earnings, NQ leadsDXY paused for breath, EUR/USD beneath 1.16, Antipodeans lackluster after a disappointing Chinese Manufacturing PMIFixed benchmarks subdued, weighed on in part by sizable Meta supplyCrude...

Trump said the meeting with Xi was amazing & lots of decisions were made, he rated the meeting a 12/10; US-China agree 1-year trade truce.European bourses are broadly lower, US equity futures are mixed; META -8.8%, MSFT -2.3%, GOOGL +6.9% post-earnings.JPY struggles after BoJ kept rates steady and avoided any overt hawkish commentary; Ueda said no pre-set idea about timing of next rate hike. USD manages to hold onto post-FOMC...

Fed cut by 25bps as expected, subject to 50bps and U/C dissent, announced it will end the balance sheet drawdown.Chair Powell struck a hawkish tone around December, weighing on stocks, USTs & XAU while the USD benefited.Trump said the meeting with Xi was amazing & lots of decisions were made, he rated the meeting a 12/10.BoJ held rates, Takata & Tamura dissented, favouring a hike; support seen in JGBs afterwards as the...

US President Trump said the meeting with Chinese President Xi will be three hours long before returning back to the US; says things will work out very well with Xi on Thursday.European and US equity futures are mixed; NQ outperforms, boosted by NVIDIA as it nears USD 5tln market cap.USD is firmer in the run-up to FOMC, AUD leads as hot CPI dashes RBA rate cut hopes.Fixed income contained awaiting the FOMC, with a mild bearish bias...

APAC stocks were predominantly in the green following the tech strength on Wall St, most indices extended to record highs.US President Trump said he had a great trip so far and expects to lower fentanyl-linked tariffs on China. China said to have made soybean purchase.European equity futures indicate a marginally lower cash market open with Euro Stoxx 50 future down 0.1% after the cash index closed with losses of 0.1% on Tuesday.USD is...

US President Trump and Japanese PM Takaichi signed an agreement on the US-Japan alliance and framework for securing the supply of critical minerals and rare earths.European bourses are mostly lower; ES/NQ are flat, whilst the RTY is marginally lower ahead of a slew of earnings.USD flat/lower, JPY boosted on US-Japan trade developments and mild haven allure; GBP lags a touch.Bonds are firmer given the risk tone; USTs await...

APAC stocks failed to sustain the momentum from the record highs on Wall St and were mostly subdued.US President Trump and Japanese PM Takaichi signed an agreement on the US-Japan alliance and framework for securing the supply of critical minerals and rare earths.European equity futures indicate a lower cash market open with Euro Stoxx 50 future down 0.2% after the cash market closed with gains of 0.6% on Monday.DXY is net negative amid...

US and China reached a framework for Trump-Xi talks this week. US tariff increase on China averted, China was said to have agreed to delay a new rare earth exports licensing regime for a year.The US is to immediately raise tariffs on Canada by another 10%.US President Trump said he won’t meet with Russian President Putin until he thinks they have a peace plan.European bourses firmer but off best levels; US equity futures soar as traders...

US and China reached a framework for Trump-Xi talks this week. US tariff increase on China averted, China was said to have agreed to delay a new rare earth exports licensing regime for a year.The US is to immediately raise tariffs on Canada by another 10%.APAC stocks are mostly higher, ES is up by the best part of 1%, Eurostoxx future firmer by 0.6%.DXY flat with the USD showing a mixed performance vs. peers; softer vs....

US to probe China's 2020 trade compliance while Trump has "terminated" all trade talks with Canada.European bourses opened firmer but now off best levels whilst US equity futures are in the green; INTC +8.3%.USD slightly higher into CPI, EUR boosted on German PMIs but now pared.Bunds & Gilts hit by PMIs, OATs look to Moody's, USTs await CPI.Crude gives back recent strength, XAU also on the backfoot around USD...

US to probe China's 2020 trade compliance while Trump has "terminated" all trade talks with CanadaDespite this, APAC bourses firmer as the region focuses on confirmation of a Trump-Xi meeting next weekDXY firmer but rangebound, USD/JPY tested 153.00Fixed benchmarks remain subdued, USTs await CPICrude pulled back from Thursday's rally, XAU is indecisiveLooking ahead, highlights include UK...

China published fourth plenum communique: approved five-year plan, and aiming for a 'big increase' in the level of tech self-reliance.European equities are mostly higher, whilst US equity futures are mixed; TSLA -3%, IBM -7.2%, Quantum stocks +10%.DXY is flat, Antipodeans lead whilst havens lag in quiet trade.Bonds are pressured as the risk tone sees pockets of improvement; decent UK auction sparked little move in Gilts at the...

US-China frictions weigh on the risk tone; Bessent said they are contemplating the next move if talks don't work outDXY posts modest gains, EUR pressured, while Sterling remains lower but is off the worst levels on WednesdayFixed benchmarks struggled for direction, US 20yr was decentCrude supported by reports around Ukraine's use of Western long-range missiles, metals softerLooking ahead, highlights include US...

European bourses are broadly lower, but FTSE 100 outperforms after UK inflation; US equity futures are modestly weaker.USD is flat & GBP hit after region's softer-than-expected inflation report, which has boosted bets for a cut in December.USTs are flat/slightly firmer ahead of supply, Gilts gap higher after CPI, Bunds marginally pressured after yet another poor auction.Initial morning bounce back in gold has faded with XAU now lower...

US President Trump said he will discuss a lot of things with Chinese President Xi in two weeks; however, he added that the meeting might not happenUS futures are marginally firmer, while European futures point to a slightly lower cash openDXY softened overnight, EUR and GBP lifted modestly off Tuesday's trough, USD/JPY contained and back below 152.00Fixed benchmarks rangebound into supplyCrude underpinned by a...

European bourses are mixed and have traded choppy throughout the morning; US equity futures are modestly lower, ahead of a slew of earnings.DXY is underpinned by the downbeat risk tone and easing credit concerns; JPY underperforms as Takaichi becomes Japanese PM.Global fixed paper are bid amid the softer risk tone and reports around AA rating criteria.Metals sell off as “debasement trade” loses momentum; Crude is essentially flat in...

APAC stocks took their cues from the rally on Wall Street as the focus remained on US-China trade with some optimism following US President Trump's comments in which he stated that China has been respectful of them.US President Trump continued to tout a November 1st deadline for additional tariffs, he also reaffirmed that he will be meeting with Chinese President Xi and thinks they will reach a 'fantastic deal'.Japanese LDP leader Takaichi won the lower house vote...

APAC stocks were higher amid tailwinds from recent trade-related rhetoric, including US President Trump's comments on Friday that 100% tariffs are not sustainable and that he will be meeting with Chinese President Xi.Nikkei 225 surged to a fresh all-time high above the 49,000 level amid a reignition of the Takaichi trade with the LDP leader on track to become Japan's first female PM following an agreement to form a coalition with Japan's Innovation Party.In China,...

European and US equity futures are lower across the board, with the US regional banking fears weighing on sentiment; KRE -2% in pre-market trade.DXY is a little lower; typical havens (JPY, CHF) benefit from the risk-tone whilst the Aussie lags.Global fixed paper driven higher as traders remain wary on US regional banks.Crude continues Thursday’s selling, XAU choppy amid debt concerns.Looking ahead, Speakers...