EU Market Open: President Trump to allow NVIDIA to ship H200 chips to China; Quiet APAC session to continue into Europe

US President Trump said they would help on security with Ukraine, and he thought they were close to a deal.US President Trump said that it is going to start on land soon regarding Venezuela; the US is reportedly preparing to seize more ships transporting Venezuelan oil.European bourses are in the green whilst US equity futures are mixed, and with underperformance in the tech-heavy NQ as Broadcom falls 4.9% in post-earnings.DXY is a little firmer, GBP incrementally pressured on a poor UK GDP report.Global bonds are mildly pressured, scaling back recent upside.XAU continues to trend higher above USD 4300/oz; Copper pulling back from another ATH.Looking ahead, highlights include Fed's Paulson, Hammack, Goolsbee, Schmid & Miran.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were predominantly higher following on from the mostly positive handover from Wall Street, where the S&P 500 and DJIA notched record closes, but the Nasdaq lagged on Oracle-related headwinds.US President Trump said they would help on security with Ukraine, and he thought they were close to a deal.US President Trump said that it is going to start on land soon regarding Venezuela; the US is reportedly preparing to seize more ships transporting Venezuelan oil.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.6% after the cash market closed with gains of 0.8% on Thursday.Looking ahead, highlights include UK GDP Estimate (Oct). Speakers include Fed's Paulson, Hammack, Goolsbee, Schmid, & Miran.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses opened lower but now marginally firmer, US equity futures are in the red, with underperformance in the NQ following Oracle (-11%) earnings.DXY initially attempted to pare post-FOMC pressure, but now flat, CHF little moved to the SNB announcement, but gained on the presser, the Aussie is pressured post-jobs data.USTs continue to strengthen in the aftermath of the FOMC, whilst Bunds pull back from highs.Crude benchmarks are selling off despite a bullish IEA report; XAU pares back FOMC gains; Copper pulls back from ATHs.Looking ahead, highlights include US Initial Jobless Claims (6 Dec, w/e), OPEC MOMR, Supply from the US, Earnings from Broadcom, Costco & lululemon.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

FOMC cut rates by 25bps to 3.50-3.75%, as expected, while the vote split was 9-3, as Miran voted for a 50bps cut. Goolsbee and Schmid voted for unchanged.Fed said it is to assess incoming data, evolving outlook and balance of risks in considering the extent and timing of further adjustment (tweaked from “in considering additional adjustments”), and it will monitor implications of incoming information for the economic outlook.Powell said adjustments to rates since September should help stabilise the labour market and keep pressure down on inflation, while the Fed is well positioned to determine adjustments to rates, and rates are now in a plausible range of neutral.Powell also noted there is a lot of data due before the next meeting, and the Fed can wait and see how the economy evolves when asked about whether the 'risk management' phase of rate cuts is over.APAC stocks were ultimately subdued after failing to sustain the early positive momentum from the dovishly perceived FOMC; US equity futures gave back their post-FOMC spoils as tech/AI concerns were stoked following a slump in Oracle shares.European equity futures indicate a softer cash market open with Euro Stoxx 50 futures down 0.1% after the cash market closed with losses of 0.2% on Wednesday.Looking ahead, highlights include Swedish CPI (Nov), US Initial Jobless Claims (6 Dec, w/e), SNB/CBRT Rate Announcements, IEA OMR, OPEC MOMR, Speakers including SNB's Schlegel, BoE's Bailey, ECB's de Guindos, Supply from Italy & US, Earnings from Broadcom, Costco & lululemon.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Trade Representative Greer said China's rare earths continue to flow and expects to sign more trade deals over the coming weeks.US President Trump is to kick off the final round of Fed Chair interviews this week, while senior administration officials said Kevin Hassett remains in pole position to succeed Powell as Fed Chair, according to the FT.European bourses are broadly lower, with US equity futures mildly in the red as markets await the FOMC; The Information reported that China is weighing NVIDIA chip purchases in an emergency meeting.USD is essentially flat and holds around the 99.20 mark, with G10s also broadly unchanged.Global bonds are lower, OATs fail to benefit after the French National Assembly passed the social security budget.Crude rangebound, XAU subdued ahead of FOMC rate decision; Copper holding onto earlier gains.Looking ahead, highlights include US Employment Costs (Q3), BoC/FOMC/BCB Rate Announcement. Speakers include BoC's Macklem & Fed's Powell. Earnings from Oracle, Adobe & Synopsys.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly subdued amid cautiousness ahead of today's Fed policy decision and dot plots, while the region also digested the latest Chinese inflation data.China is buying US soybeans again, but is reportedly falling short of the goal set by the Trump trade agreement, according to CNBC.US Trade Representative Greer said China's rare earths continue to flow and expects to sign more trade deals over the coming weeks.US President Trump is to kick off the final round of Fed Chair interviews this week, while senior administration officials said Kevin Hassett remains in pole position to succeed Powell as Fed Chair, according to the FT.European equity futures indicate a marginally lower cash market open with Euro Stoxx 50 futures down 0.2% after the cash market finished with losses of 0.1% on Tuesday.Looking ahead, highlights include Norwegian CPI (Nov), US Employment Costs (Q3), BoC/FOMC/BCB Rate Announcement. Speakers include BoE's Bailey, ECB's Lagarde, BoC's Macklem & Fed's Powell. Supply from the UK. Earnings from Oracle, Adobe & Synopsys.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced that he informed Chinese President Xi that the US will allow NVIDIA (NVDA) to ship its H200 products to approved customers. Though the FT reported that China is set to limit access of NVIDIA's H200 chips; NVDA shares off best levels, last +0.5%.European bourses are broadly lower, US equity futures are mixed with the NQ dipping into modest negative territory after the FT report on NVIDIA.DXY hovers around 99.00, Antipodeans rise post RBA, and JPY remains subdued, but did gain on Ueda-FX related commentary.Global paper was initially subdued but now firmer, OATs await French vote.Crude benchmarks trade rangebound ahead of the EIA STEO, Copper continues to pull back from ATHs.Looking ahead, highlights include US Average Weekly Prelim Estimate ADP (4-week, w/e 22 Nov), JOLTS (Sep), EIA STEO, Speakers including BoE's Ramsden, Lombardelli, Mann, Dhingra & RBNZ's Breman, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were subdued following the lacklustre lead from Wall Street, with markets cautious ahead of the FOMC policy announcement on Wednesday.US President Trump announced that he informed Chinese President Xi that the US will allow NVIDIA (NVDA) to ship its H200 products to approved customers.RBA unsurprisingly kept the Cash Rate unchanged at 3.60%, although comments from RBA Governor Bullock at the press conference leaned hawkish.Ukrainian President Zelensky said talks in London were productive and there is small progress towards peace.European equity futures indicate an uneventful cash market open with Euro Stoxx 50 futures -0.1% after the cash market closed flat on Monday.Looking ahead, highlights include German Trade Balance (Oct), US Average Weekly Prelim Estimate ADP (4-week, w/e 22 Nov), JOLTS (Sep), EIA STEO, Speakers including ECB's Nagel, BoJ's Ueda, BoE's Ramsden, Lombardelli, Mann, Dhingra & RBNZ's Breman, Supply from UK & US, Earnings from GameStop.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses attempt to move higher after initial pressure, US equity futures trade with modest gains.USD is flat, EUR and NZD manage to hold towards the top of the G10 pile.Global bonds pressured, Bunds hit on hawkish remarks via ECB's Schnabel, who said that she is 'comfortable' on bets that the next move will be a hike, albeit not any time soon.Crude benchmarks retreat despite a lack of drivers, XAU grinds higher and 3M LME Copper benefits after positive Chinese exports data, though Imports disappointed.Looking ahead, highlights include ECB’s Cipollone, BoE’s Taylor & Lombardelli, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

EUR/USD gained, while DAX and Bund futures fell as ECB's Schnabel said she is 'comfortable' on bets that next move will be a hike.APAC stocks were mixed following a lack of major macro drivers over the weekend and with markets tentative ahead of this week's risk events, while participants also digested data, including the latest Chinese trade figures.USD/JPY briefly retreated beneath the 155.00 handle amid a softer buck and as the latest wages data from Japan supported the case for a December BoJ rate hike, although Q3 GDP revisions were disappointing and showed a wider-than-feared contraction.Chinese trade data showed a stronger-than-expected recovery in Exports, but Imports disappointed.European equity futures indicate a slightly softer cash market open with Euro Stoxx 50 futures down 0.2% after the cash market closed with gains of 0.1% on Friday.Looking ahead, highlights include German Industrial Output, EZ Sentix, Comments from ECB’s Cipollone, BoE’s Taylor & Lombardelli, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk