Ransquawk Rundown, Daily Podcast

Asian equity markets retreated amid headwinds from the US where the major indices all but wiped out last week’s gains due to fresh trade concernsChina Global Times said China will soon release an unreliable entity list and noted that US House is expected to pass a Xinjiang-related bill that will harm the interests of Chinese firmsUSTR office said France's digital services tax discriminates against US companies and that it will take action against regimes that discriminate against US companiesThe...

European equities pared a bulk of the earlier upside seen from above-forecast major global PMIsChinese markets welcomed the encouraging PMI data which aside from the headline beat, also showed Non-Manufacturing PMI and Caixin Manufacturing PMI topping estimatesUS-China deal was said to be stalled because of Hong Kong legislation according to Axios sources, China Global Times noted that the trade deal must include tariff rollbacksGlobal...

Asian equity markets kick-started December on the front-foot with risk appetite stimulated by a flurry of better than expected Chinese dataChinese markets welcomed the encouraging PMI data which aside from the headline beat, also showed Non-Manufacturing PMI and Caixin Manufacturing PMI topping estimatesUS-China deal was said to be stalled because of Hong Kong legislation according to Axios sourcesChina Global Times noted that the trade...

European bourses are little changed in thin trading conditions on an early US closeEZ CPI (Flash) printed above expectations, headline YY 1.0% vs. Exp. 0.9%Both FX and debt are choppy with month end flows potentially the causeHong Kong Polytechnic University siege was confirmed to have ended as police swept through a vacant but devastated campus yesterdayLooking ahead, highlights include Canadian GDP, Black Friday, ECB’s de Guindos & de Cos, early US...

Asian equity markets were mostly subdued after the holiday closure stateside and amid continued trade uncertaintyHong Kong Polytechnic University siege was confirmed to have ended as police swept through a vacant but devastated campus yesterdayUSD was lacklustre amid the holiday-quietened conditions, EUR/USD consolidated at the bottom end of the 1.1000 handle, momentum in GBP/USD fadedLooking ahead, highlights include Swedish GDP (Q3), EZ CPI (Flash) & Unemployment Rate, Canadian GDP, Black...

Asian markets traded mostly lower as the positivity from another record setting session on Wall St heading into Thanksgiving Day, quickly fadedUS President Trump signed the Hong Kong bills into law despite Beijing's objections, according to the White HouseChina Foreign Ministry reiterated it strongly opposes the US bill on Hong Kong and that the bill severely meddles in China's internal affairsUK YouGov MRP General Election Poll showed Conservatives are set for a 68-seat majority with the party...

European bourses are firmer this morning in tentative trade ahead of the last full US day for the weekTop trade ministers from US, Mexico and Canada will sit down in Washington today for talks on USMCALittle movement in either the FX or Fixed complexes at present; DXY is slightly firmerLooking ahead, highlights include US Durables, GDP 2nd Estimate, Jobless Claims, Personal Income, Consumption, Core PCE Price Index, DoEs, Japanese Retail Sales, Fed’s Beige Book, YouGov MRP Model, Day 1 of OPEC's...

Asian equity markets traded broadly firmer after Wall Street extended on record levels once againHowever, gains were capped given the lack of material breakthrough from the recent slew of optimistic US-China trade rhetoricUS President Trump said we are in the final throes of reaching a trade deal with China and wants to see democracy in Hong KongLatest YouGov/Sky News poll shows an 11-point lead for Conservatives; down from the prior...

European bourses are softer in holiday-thinned conditions despite positive overnight trade rhetoric·China and US trade negotiators held a phone call today in which they reached a consensus on solving issues and agreed to keep in contact regarding phase one dealFed Chair Powell said Fed would respond if developments spurred a material outlook reassesment and that current monetary policy is likely to remain appropriate as long as data is consistent with moderate growthRBA Governor Lowe says QE is...

Asian equity markets traded mostly higher after taking impetus from the fresh record levels on Wall StreetChina and US trade negotiators held a phone call today in which they reached a consensus on solving issues and agreed to keep in contact regarding phase one dealUSTR Lighthizer later confirmed the call with China but declined to comment on specificsChina's Global Times tweeted that topics in the call may have included tariff removal, agricultural purchase and a possible face-to-face...

European bourses are firmer this morning as sentiment is supported by APAC newsflowChina is to increase penalties related to IP theft and will examine lowering the threshold for violators according to fresh government guidelinesHong Kong Pro-democracy candidates achieved a landslide win following a record turnout in Hong Kong District Council electionsDatapraxis analysis on YouGov data projected a UK Conservative majority of 48 seats with...

Asian equity markets began the week on a positive note with sentiment underpinned by encouraging reports from ChinaChina is to increase penalties related to IP theft and will examine lowering the threshold for violators according to fresh government guidelinesHong Kong Pro-democracy candidates achieved a landslide win following a record turnout in Hong Kong District Council electionsUS President Trump said the China trade deal is coming along very well, while he also commented that an...

EZ PMIs were mixed with manufacturing beat but services subdued, UK missed across the boardEuropean bourses are slightly firmer this morning on little in the way of trade updates and mixed dataECB’s Lagarde speech delivered little in the way of surpises for marketsDXY is flirting with the 98.0 mark to the upside, with G10 peers mixed and the core debt complex firmerUS President Trump signed the continuing resolution to avert a government shutdown to December 20thLooking ahead,...

Asian equity markets eventually traded mixed after the region’s early attempts to shrug-off the headwinds from the losses on Wall St. proved to be short-livedChinese President Xi said China did not start the trade dispute with US and is not afraid of a trade war, nor will it flinch from such a fight but added he wants to work out a phase one agreementUS President Trump's administration is reportedly mulling a trade investigation against the EU as time for imposing auto tariffs is limited, according to...

US President Trump said he doesn't think China is stepping up to the level he wants in trade talks and that China wants a trade deal more than he does.China last week invited US trade negotiators for further talks, reports WSJ citing sourcesUS House has voted to pass the Hong Kong bill and sent it to US President Trump who is expected to sign the billEuropean equities are modestly lower but off worst levels amid the US-Sino confusion, DXY remains softer whilst G10 FX benefit from the Dollar’s...

Asian equities are lower across the board after source reports noted the US-China phase one deal may not be completed this yearUS President Trump said he doesn't think China is stepping up to the level he wants in trade talksUS House has voted to pass the Hong Kong bill as expected and sent it to US President Trump for signature or vetoFOMC minutes showed most policymakers judged that after the October 30th rate cut, the policy level would be appropriate barring material reassessment of the...

European bourses are subdued as risk-off sentiment takes hold as US-Sino tensions resurfaceChinese Global Times Chief Editor said China is prepared for a prolonged trade war, but believe the sides can reach a dealUS Senate unanimously approved the Hong Kong Human Rights bill and sent it to House of RepresentativesDXY is firmer this morning, with trade sensitive currencies subdued on the overnight updatesLooking ahead, highlights include Canadian CPI, DoEs, FOMC Minutes, ECB’s...

Asian equity markets traded mostly lower as investor sentiment continued to hang on the US-China trade uncertaintyUS and China could reportedly tie tariff relief to the deal from May in order to decide how much tariffs should be rolled-back as part of a phase one dealHowever, scepticism remains over whether a more comprehensive phase 2 agreement can ever be reachedUS Senate unanimously approved the Hong Kong Human Rights bill and sent it to House of RepresentativesUK poll by YouGov/Sky...

European bourses have climbed higher, following on from a largely positive Asia-Pac handover, during another session of limited newsflowUS President Trump tweeted that he told Fed Chair Powell the Fed rate is set too high relative to the interest rates of other competitor countries and that US rates should be lower than all othersEU's Trade Chief Weyand warned UK PM Johnson will either only get a “bare bones” trade deal from Brussels next year or none at allFX markets are mixed/flat vs a slightly...

Asian equities eventually traded mostly higher but with gains capped after an initial lack of commitment due to the ongoing US-China uncertaintyEU's Trade Chief Weyand warned UK PM Johnson will either only get a “bare bones” trade deal from Brussels next year or none at all due to time constraintsIn FX markets, the majors mostly consolidated overnight amid a light calendar and as participants await the next developments of the US-China trade sagaUS President Trump tweeted that he told Fed Chair...