US Market Open: European assets hit by EU election results, USD continues post-NFP gains

Equities in the green and Tech leads in Europe; NQ outperforms, lifted by pre-market gains in NVDA +2.7%Dollar is firmer, CHF sinks after the SNB cut rates by 25bps, GBP slightly softer ahead of the BoEBonds are softer, Bunds initially lifted post-SNB but has since pared, French auction passes without issueCrude is incrementally firmer, base metals gain amid a generally positive risk toneLooking ahead, US IJC & Philly Fed Index, BoE Policy Announcement, Comments from Fed’s Barkin & Kashkari, Earnings from Accenture & KrogerRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were subdued in rangebound trade amid a lack of catalysts and following the US holiday lull.European equity futures indicate a firmer open with Euro Stoxx 50 future up 0.3% after the cash market closed higher by 0.7% on Wednesday.DXY is steady on a 105 handle with FX markets broadly contained, Cable holds above 1.27 ahead of the BoE announcement.Bunds are lower, whilst crude markets are contained after WTI hit resistance around USD 81/bbl.Looking ahead, highlights include US IJC & Philly Fed Index, SNB, Norges & BoE Policy Announcements, Comments from SNB's Jordan, Norges Bank Governor Bache, Fed’s Barkin & Kashkari, Supply from Spain, France & USRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US stocks inched higher in rangebound trade, APAC stocks mainly positive with Hang Seng outperformanceEuropean futures point to a contained open, after the cash market closed higher by circa. 0.7%DXY contained after the deluge of Fed remarks, peers rangeboundCrude and spot gold largely sideways while base metals benefited from the constructive US toneIsrael's military said operational plans for an offensive in Lebanon were approved and validatedHoliday: US Juneteenth; The desk will shut at 18:00BST/13:00EDT and re-open the same day for the beginning of Asia-Pac coverage at 22:00BST/17:00EDT.Highlights include UK CPI, PPI, South Africa CPI, NZ GDP, BoC Minutes, Supply from Germany.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are entirely in the green whilst US futures are mixedDollar is firmer, AUD gains post-RBA and USD/JPY holds above 158.00Softer session for fixed thus far, Bunds initially boosted by ZEW but slipped on a poor German outingCrude is slightly softer, hampered by the softer Dollar; XAU containedLooking ahead, US Retail Sales & Industrial Production, NBH Policy Announcement, Comments from ECB’s Cipollone & de Guindos, Fed’s Barkin, Collins, Logan, Kugler, Musalem & Goolsbee & US supplyRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks took impetus from the gains in the US where the S&P 500 and the Nasdaq notched record highsDXY steady, AUD unreactive to RBA while the JPY was unphased by UedaRBA rate decision where the central bank kept rates unchanged and reiterated the Board remains resolute in its determination to return inflation to the target and it is not ruling anything in or out.Fixed benchmarks nursed some of Monday's pressure but were largely rangebound into numerous Fed speakersCrude paused for breath after its geopolitical rallyLooking ahead, highlights include German ZEW, EZ HICP (F), US Retail Sales & Industrial Production, NBH Policy Announcement, Comments from RBA’s Bullock, RBNZ's Conway, ECB’s Cipollone & de Guindos, Fed’s Barkin, Collins, Logan, Kugler, Musalem & Goolsbee, UK, German & US supply.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mostly firmer paring some of Friday’s pronounced downside, US futures are trading tentativelyDollar is flat, Antipodeans lag after weaker than expected Chinese industrial dataBonds are subdued paring recent EU political-induced upside on Friday, as participants digest ECB sources which suggest that the Bank is in no rush to discuss a French bond rescueCrude is flat in what has been a choppy session thus far, XAU/base metals are hampered by mixed Chinese dataLooking ahead, US NY Fed Manufacturing, Comments from ECB’s de Guindos & Cipollone, Fed’s Williams, Harker & Cook, Earnings from LennarRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US stocks were mixed and the major indices finished off their worst levels seen early in the session alongside the broad risk-averse conditionsAPAC stocks were mostly negative as markets reflected on the latest soft Chinese data releases; European futures point to a firmer openDXY steady around 105.50, EUR/USD directionless & Cable below 1.27EGBs eased back from Friday's marked rally; ECB sources report they are in no rush to discuss any French bond rescueCrude lacklustre with metals on the back foot after Chinese dataIsrael's military said it will hold a tactical pause of military activity for humanitarian purposes in some areas between 06:00BST-17:00BST dailyLooking ahead, highlights include Italian CPI, EZ Labour Costs, US NY Fed Manufacturing, Comments from ECB’s Lagarde, Lane, de Guindos & Cipollone, Fed’s Williams, Harker & Cook, Supply from Belgium, Earnings from Lennar.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are entirely in the red, with sentiment hampered by ongoing political angst in the EU; US futures are also lower, RTY underperformsDXY is bid, benefitting from the subdued EUR which dips below 1.07 and a weak JPY post-BoJThe BoJ kept rates unchanged but defied expectations for an immediate reduction of bond purchases, instead, it will decide on a specific bond-buying reduction plan at the next meetingUSTs are flat, EGBs soar amid political uncertainty in the region, with the OAT-Bund spread widening to over 78bpsCrude is subdued amid the firmer Dollar, XAU benefits from haven flows and base metals are mixedLooking ahead, US UoM Survey, comments from Fed’s Goolsbee, Cook & ECB's SchnabelRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly subdued after the mixed performance stateside where soft data took centre stage, while participants turned their attention to the BoJ policy announcement. The BoJ maintained rates as expected but defied expectations for an immediate reduction of bond purchases, instead, it will decide on a specific bond-buying reduction plan at the next meeting. Nikkei 225 recovered early losses, USD/JPY advanced to just shy of the 158.00 level, and 10-year JGB futures tracked the recent gains in global peers and were further boosted after the BoJ policy announcement. European equity futures indicate a positive open with Euro Stoxx 50 futures up 0.3% after the cash market closed lower by 2.0% on Thursday. Looking ahead, highlights include Swedish CPI, US UoM Survey, BoE/Ipsos Inflation Attitudes Survey, Comments from BoJ’s Ueda, ECB’s Lane, Schnabel, Lagarde & de Guindos, Fed’s Goolsbee & Cook.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Downbeat session for European equities whilst US futures are mixed, with NQ outperforming, propped up by pre-market gains in Tesla, Broadcom and NvidiaDollar is firmer, EUR continues to test 1.08 to the downside and the JPY is the marginal underperformerBonds are slightly softer as participants digest the FOMC & hawkish dot plots ahead of US PPICrude is on the backfoot, XAU and base metals both lower as the Dollar continues to recoup lossesLooking ahead, US IJC, PPI (F), NZ Manufacturing PMI, Comments from ECB’s de Guindos, BoC’s Kozicki & Fed’s Williams, Supply from the US, Earnings from AdobeRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk