• Asian indices are largely negative as tech suffered in sympathy with Wall St. and the US accused China of misrepresenting trade talks
• Fed’s Bullard (Voter) said a rate cut may be warranted soon amid trade and inflation concerns
• RBA cut rates as expected; to support employment growth and generate greater confidence around the inflation target
• Looking ahead, highlights include UK Construction PMI, EZ CPI (Flash) & Unemployment Rate, US...

• European indices remain subdued [Euro Stoxx 50 -0.1%] but have grinded higher after a downbeat Asia-Pac lead as China issued a White Paper blaming the US for the deterioration in trade talks
• In FX, the DXY remains below the 98.0 handle and relatively unchanged for the session ahead of key risk events throughout the week
• Looking ahead, highlights include US mfg PMIs, ISM mfg PMI, Fed’s Quarles, Barkin and Bullard

ASIA-PAC

Asian equity markets traded...

• A subdued start to the week for Asian indices as China released a White Paper blaming the US for trade talks deteriorating, and are to create an unreliable entity list
• In FX, the DXY remains below the 98.0 level as the US faces a two-front trade war; while, EUR and GBP are benefiting from the USD weakness
• Looking ahead, highlights include EZ, UK and US mfg PMIs, ISM mfg PMI, Fed’s Quarles, Barkin and...

• European Indices are firmly in negative territory [Euro Stoxx 50 -1.7%] following US Presidents Trump’s plans to place tariffs on Mexican goods at an initial level of 4%
• China’s Global Times Editor states that China will take major retaliatory measures against the US placing Huawei and other Chinese companies on an Entity List
• In FX, the Mexican Peso underperforms while safe haven JPY benefits from the risk-off tone
• Looking ahead, highlights include German CPI (Prelim), US Core PCE Price Index,...

• European Indices [Euro Stoxx 50 +0.5%] have stayed positive after opening in positive territory, diverging from the subdued Asia-Pac session
• China’s MOFCOM says tariffs will not solve trade imbalances, and they will not accept a trade deal which hurts their pride/sovereignty
• Looking ahead, highlights include US GDP (2nd Estimate), Core PCE, Advanced Goods Balance, Pending Sales Change & Initial Jobless Claims, Canadian Average Weekly Earnings, Fed's Clarida, BoC's Wilkins
• Market Holiday: Swiss,...

• Asian indices followed the negative tone on from their US counterparts as Wall St. extended on the prior day’s losses
• In FX the USD is firmer, with the DXY holding above the 98.00 level as counterparts, particularly EUR and GBP, remain subdued
• Looking ahead, highlights include US GDP (2nd Estimate), Core PCE, Advanced Goods Balance, Pending Sales Change & Initial Jobless Claims, Canadian Average Weekly Earnings, BoE's Ramsden, Fed's Clarida, BoC's Wilkins,...

• European Indices [Euro Stoxx 50 -1.6%] are firmly in negative territory, as the risk-off sentiment spills over from the Asia-Pac session
• US Treasury’s currency report stated that no major trading partner met the currency manipulation list; but 9 countries, including China, have been placed on the watchlist
• Looking ahead, highlights include, BoC Rate Decision, ECB’s Visco, supply from the US

ASIA-PAC

Asian equity markets were mostly lower following the...

• Asian indices are subdued following on from their US counterparts where the E-mini S&P dropped below the 2800 level as US-China tensions remain a key trading theme
• US Treasury released their currency report placing 9 countries, including China, on the watchlist but did not name any as manipulators
• Looking ahead, highlights include French GDP, German Unemployment, BoC Rate Decision, ECB’s Weidmann, Mersch, Rehn & Visco, supply from Germany and the...

• European Indices [Euro Stoxx 50 -0.6%] are broadly softer as the region failed to capitalise on the positive Asia-Pac momentum
• On the trade front SCMP reports that US-China talks hit a snag as the US side ‘kept adding new demands in late stages of the negotiations’
• Looking ahead, highlights include US Consumer Confidence and supply from the US

EU PARLIAMENTARY ELECTIONS SUMMARY

European elections failed to deliver any drastic upsets; right wing anti-EU parties...

• Asian indices are moderately higher following on from yesterday’s holiday lull, with Chinese indices supported by a substantial PBoC liquidity injection
• In FX, DXY extended on gains as its major counterparts EUR/USD and GBP/USD languished following a pullback below 1.1200 and 1.2700 respectively
• Looking ahead, highlights include German GFK Sentiment and import prices, EZ Consumer Confidence (final), US Consumer Confidence, supply from Italy, Germany and the...

• Asian equity markets began the week mixed as a lack of risk drivers and an extended weekend in some major global markets resulted to a non-committal tone in the region
• Preliminary results from the European Parliament elections indicate the centre-right and centre-left groups are set to remain the biggest groups but have fallen short of a majority
• President Trump suggested a US-Japan trade deal can wait until after the Japanese upper house elections in...

• UK PM May resigns, to step down as Tory leader on June 7th and is to remain as PM until a new leader is elected
• European Indices [Euro Stoxx 50 +0.9%] have extended on initial gains following their Asian counterparts which were somewhat boosted by upbeat US-China comments from President Trump
• In FX, the USD is weighed on by G10 counterparts bar safe havens in consolidation from yesterday’s DXY highs and amidst the risk-on tone this morning
• Looking ahead, highlights include; US Durable...

• Asian equity markets were mixed with the region cautious following the headwinds from US. ASX 200 underperformed amid the slump in oil prices 
• US President Trump said there is a good possibility of a US-China trade deal and that Huawei could be included in any trade deal
• UK PM May is to announce her timetable to step down on Friday, according to reports 
• In FX markets, the DXY languished near this week’s lows whilst AUD was subdued...

• European indices [Euro Stoxx 50 -1.7%] are sinking following the weak lead from Asia and poor EZ data
• In FX, USD outperforms all G10 bar safe havens as dismal data and Brexit woes afflict sentiment
• Looking ahead, highlights include, US Initial Jobless Claims & New Home Sales, NZ Trade Balance, ECB Minutes, European Parliament Election, Fed's Kaplan

ASIA-PAC

Asian stock indices were mostly lower amid spillover selling from Wall St as US-China trade...

• Asian indices (ex-India) are subdued as US-China updates continue to drive markets; China’s Foreign Minister Wang Yi warned China will fight to the end
• FOMC minutes largely neutral, emphasis on patience and that the inflation downturn is transitory
• UK PM May is to meet 1922 Committee Chair Brady on Friday, where leadership changes will be discussed; HoC Leader Leadsom resigned
• Looking ahead, highlights include German GDP & Ifo, French,...

• European Indices [Euro Stoxx 50 +0.3%] are positive, but have traded choppily for much of the session ahead of FOMC and as markets await further US-China updates
• On the Brexit front, the 1922 Committee are due to meet at 16:00BST, with speculation that if over half of the committee are in favour then Graham Brady will instruct PM May to leave
• Looking ahead, highlights include Canadian Retail Sales, DoEs, FOMC minutes, Fed’s Williams, Bostic, and BoE’s...

• Asian indices were mixed as markets await further US-China updates and FOMC minutes
• US is contemplating blacklisting as many as 5 Chinese surveillance firms
• UK PM May’s latest Brexit offer has led to a backlash from both Conservative Eurosceptics and the Labour Party
• Looking ahead, highlights include UK CPI, Canadian Retail Sales, DoEs, FOMC minutes, ECB’s Draghi, Praet, Fed’s Williams, Bostic, and BoE’s...

• European indices [Euro Stoxx 50 +0.6%] extend advances ahead of the US’s entrance to market
• In FX, the dollar broadly outperforms its G10 counterparts particularly antipodeans following RBA Governor Lowe stating they will consider a rate cut at June’s meeting
• Looking ahead, highlights include US Existing Home Sales, EZ Consumer Confidence (Flash), US & Japan Trade Talks, Fed’s Evans & Rosengren

ASIA-PAC

Asian stocks eventually traded mostly...

• Asian indices were mixed following the negative Wall St lead, although, respite was granted as the US announced a 90-day general license for Huawei
• The RBA further tied their outlook to the labour market and Governor Lowe stated the board will consider lowering rates at the June meeting
• Looking ahead, highlights include US Existing Home Sales, EZ Consumer Confidence (Flash), US & Japan Trade Talks, Fed’s Evans & Rosengren, ECB’s de...

• European Indices [Euro Stoxx 50 -1.2%] have continued to move lower, after a relatively uneventful opening, with the downside stemming from unconfirmed negative reports on US-China trade
• In FX, the USD is subdued vs all G10 counterparts in particular the AUD following PM Morrison’s surprise victory
• Saudi Energy Minister Al Falih, at the JMMC, stated that there is consensus to gently drive inventories down and that Saudi Arabia see no need to quickly boost production with oil around USD...

• Asian indices mixed with focus on Australian elections and reports that US-China trade talks have stalled
• Saudi Energy Minister Al Falih stated that there is consensus to drive down inventories gently and Saudi Arabia sees no need to boost production quickly now with oil at around USD 70/bbl
• Reports around UK PM May’s Brexit bill differ, some indicate it contains improved measures others that it contains nothing new and retains the Irish...

• Major European indices [Euro Stoxx 50 -0.5%] are subdued following from a mixed Asia session, with sentiment afflicted by reports that China potentially has no current interest in the continuation of US talks
• Opposition Labour Leader Corbyn confirms that cross-party Brexit talks have gone as far as they can
• Looking ahead, highlights include US University of Michigan Sentiment, Fed's Clarida & Williams, ECB's de Guindos

ASIA-PAC

Asian equity markets...

• Asian indices were predominantly positive following a firmer close on Wall St.; although markets were afflicted by negative US-China updates
• China's state media reported that China potentially has no interest in furthering talks with the US right now; little sincerity seen by China in US President Trump’s approach
• Cross-party talks between Conservatives and Labour are near to drawing to a close without an agreement; focus now turns to Parliamentary voting...

• European indices [Euro Stoxx 50 +0.3%] are volatile, following on from the somewhat mixed performance of their Asian counterparts
• China’s MOFCOM spokesman stated that they have no information regarding a US visit to Beijing
• Looking ahead, highlights include US Building Permits, Housing Starts, Initial Jobless Claims & Philadelphia Fed Business Index, Canadian Manufacturing Sales, ECB’s de Guindos & Coeure, Fed’s Kashkari & Brainard, BoC’s Poloz & Wilkins
• Earnings: Applied Materials,...

• Asian indices were mixed as the auto-driven positivity from Wall St. was countered by the blacklisting of Huawei and disappointing regional earnings
• UK PM May is to face the 1922 committee today, with the committee to hold a meeting immediately after; cross-party talks with Labour remain on the verge of collapsing
• Looking ahead, highlights include US Building Permits, Housing Starts, Initial Jobless Claims & Philadelphia Fed Business Index, Canadian...