• Asian equity markets began the week mostly subdued following the lacklustre performance on Wall St last Friday after Trump doubled-down on his tariff threats against China
• In FX, EUR/USD and GBP/USD contained, while AUD/USD and NZD/USD eye a test on the 0.7100 and 0.6500 levels to the downside respectively
• EU are reportedly preparing to give instructions to EU Chief Brexit Negotiator Barnier to help achieve a Brexit deal. Meanwhile, Eurosceptic proposals...

Week In Focus:

• European equities trade slightly softer (Eurostoxx 50 -0.4%) following a negative lead from Asia
• EMs continue their re-emergence ahead of key US NFP data
• Looking ahead, highlights include, US & Canadian jobs reports, Baker Hughes rig count, Fed’s Rosengren, Mester, Kaplan and ECB’s de Guindos
• ASIA

• Asian equity markets traded lower following a lacklustre lead from Wall St where continued weakness in tech and underperformance in energy dragged most US majors lower
• US President Trump reportedly hinted that a trade fight with Japan could be next 
• In FX markets, the DXY was flat and consolidated around the 95.00 level as the greenback traded mixed against its major counterparts ahead of today’s key US jobs data
...

• European equities trade mixed with outperformance in the FTSE MIB again
• Markets gear up for an announcement as public consultation ends for USD 200bln worth of Chinese goods
• SEK is the main G10 mover and loser as the Riksbank rolled back its rate hike path and ruled out October
• Looking ahead, highlights include ADP Employment Change, Initial jobless claims, Durables revisions, ISM nonmfg PMI, DoEs, ECB’s Lautenschlaeger and...

• Asian equity markets traded mostly lower after a similar lead from US where the Nasdaq underperformed and the tech sector saw its worst performance in over a month
• In FX markets, the DXY remained subdued and tested the 95.00 level to the downside. JPY firmed following the Hokkaido earthquake
• Looking ahead, highlights include the Riksbank rate decision, ADP Employment Change, Durables revisions, ISM non-mfg PMI, DoEs, ECB’s Lautenschlaeger and...

• European equities trade on the backfoot (with the exception of the FTSE MIB) as the Eurostoxx 50 index falls over 1%
• DXY remains firmly above recent near 95.000 lows and mainly towards the top of today’s range, with broad gains vs almost all rivals
• Looking ahead, highlights include US & Canadian Trade, BoC rate decision, weekly API inventories, Fed’s Bullard, Kashkari, Bostic and Williams

• Asian equity markets traded lower across the board after the Labor Day hangover on Wall St amid ongoing trade uncertainty
• In FX markets, the greenback was relatively flat with price action subdued as its major counterparts attempted to nurse losses
• EU's Barnier has deemed PM May's Chequers plan as unacceptable. Separate reports suggest the EU could adjust the Irish border backstop to win UK's approval in Brexit negotiations
• Looking ahead, highlights include EZ, UK services...

• European equities trade mostly lower (Eurostoxx 50 -0.8%), with the core bourses unwinding gains and plunging into the red following a positive open
• A firm rebound in the DXY to almost 95.600 with ZAR hit even harder following an unexpected SA GDP contraction that means technical recession
• Looking ahead, highlights include ISM manufacturing, BoE’s Carney, Haldane, Tenreyro and Saunders, ECB’s Nowotny

• Asian equities were choppy with the region indecisive as trade-related concerns lingered and after a non-existent lead from the US
• In FX, the greenback was slightly firmer overnight. AUD was initially pressured by a wider than expected Current Account Deficit, but later found support following the RBA rate decision
• Rees-Mogg claims that he and Barnier, bonded in a meeting over their shared view that May’s Chequers plan is “complete rubbish”.
• Looking ahead, highlights...

• Asian equity markets traded mostly lower with the region cautious heading into an event-packed week
• This followed a lack of breakthrough in last week’s NAFTA related talks between US and Canada. Additionally, the public comment period for the proposed US tariffs on a further USD 200bln of Chinese goods is set to expire by Thursday
• GBP/USD was pressured and briefly fell below the 1.2900 handle on Brexit-related discord with EU’s Barnier said to...

• EU bourses have extended opening losses (Eurostoxx 50 -1.1%) heading into month end as Trump’s trade feuds with the China, EU and Canada sways sentiment
• Major FX pairs are relatively contained. EUR unfazed by soft EZ CPI, GBP awaits Brexit updates and EM once again in focus
• Looking ahead, highlights include Chicago PMI, ECB’s Nowotny and de Guindos

• Asian equities broadly lower with Trump on the warpath amid reports he is to back additional Chinese tariffs, reject the EU’s auto proposals and once again threatens WTO membership
• Losses in most the Asia-Pac region have been stemmed as participants also digested a trifecta of encouraging China PMI data
• Looking ahead, highlights include EZ CPI, unemployment rate, Chicago PMI, ECB’s Nowotny and de Guindos

• European equities are largely on the backfoot (Eurostoxx 50 -0.7%) with underperformance in Germany’s DAX
• In FX, the EUR has retreated after another rally above 1.1700 vs the Greenback on broadly benign German state CPI and Spanish inflation data
• Looking ahead, highlights include German national CPI, US PCE price index, Canadian GDP and ECB’s Weidmann

• Asian equity markets traded mixed as the initial impetus from Wall St was eventually clouded by weakness in China
• In FX, EUR/USD is testing the 1.1700 handle and with GBP/USD at a 3-week high above 1.3000
• Looking ahead, highlights include German state and national CPIs, German unemployment rate, US PCE price index, Canadian GDP, ECB’s Weidmann to speak and supply from Italy

• European equities trade on the backfoot (Eurostoxx 50 -0.5%) with underperformance in Spain’s IBEX (-1.0%)
• The DXY and broad Dollar continue to consolidate off recent lows on the back of Monday’s upbeat US consumer confidence survey
• UK and EU officials are said to view mid-November as the new Brexit deal deadline and are said to view an agreement by October as unlikely
• Looking ahead, highlights include US GDP (2nd estimate), Pending Home Sales, DoEs, and supply from the...

• Asia-Pac stocks traded mixed following the unconvincing performance on Wall St whereby the majors somewhat flatlined
• In FX, CAD was underpinned by trade hopes on reports that Canada was said to be prepared to make concessions on dairy for NAFTA
• UK and EU officials are said to view mid-November as the new Brexit deal deadline and are said to view an agreement by October as unlikely
• Looking ahead, highlights include US GDP (2nd estimate), Pending Home Sales, DoEs, supply from Germany and...

• European equities trade mixed (Eurostoxx 50 -0.1%), UK’s FTSE 100 outperforms as it plays catch-up
• The Dollar has lost more ground vs most G10/major rivals, but remains mixed vs EMs
• Looking ahead, highlights include a speech by ECB’s Praet, and weekly API crude inventories

• Asian equity markets traded mostly higher as the region got a tailwind from US where the S&P 500 and Nasdaq extended on record highs
• In FX markets, the DXY remained below the 95.00 level following a 2-day selldown
• Looking ahead, highlights include a speech by ECB’s Praet, and weekly API crude inventories

• European equities are mostly higher (Eurostoxx 50 +0.2%) as auto names support the continent
• Little respite for the Lira after the Turkish holidays, USD/TRY up around 3% on the day
• Looking ahead, highlights include US National Activity Index and Dallas Fed Manufacturing Business Index. Note: Today is a UK Bank Holiday

• Asian equity markets began the week positive across the board following the record closes for the S&P 500 and Nasdaq Comp on Friday in US
• USD/JPY and JPY-crosses traded choppy in which they initially extended on gains before pulling back while DXY held above the 95.00 level
• Looking ahead, highlights include the German Ifo Survey, US National Activity Index and Dallas Fed Manufacturing Business Index. Note: Today is a UK Bank Holiday

Key Events

• Tentative trade ahead of Fed Chair Powell’s speech at Jackson Hole
• AUD the biggest G10 mover overnight as Morrison sworn in as new Prime Minster
• Looking ahead, highlight include, US durable goods and Fed’s Chair Powell to speak at the Jackson Hole Symposium

• Asian equity markets traded mixed amid a weak lead from Wall St, a lack of progress during US-China trade discussions and a change of leadership in Australia
• AUD was supported as Australian Treasurer Morrison becomes the new PMI
• Looking ahead, highlights include German GDP, US durable goods and Fed’s Chair Powell to speak at the Jackson Hole Symposium

• European equities are largely mixed and trading without direction amidst the fresh US-China tariff action
• FOMC minutes have given the flagging Usd a fillip, along with indirect props from rival currencies that are succumbing to more selling pressure
• Looking ahead, highlights include ECB Minutes, US flash PMIs, US New Home Sales, and US-China trade talks in Washington