Europe Market Open: Powell hints at return to smaller rate cuts, Eurozone CPI data ahead

European bourses are mixed whilst US equity futures trade tentatively on either side of the unchanged mark ahead of today’s US NFP report.Dollar is rangebound, GBP and JPY are attempting to claw back some of their recent losses.USTs are flat whilst Bunds slip extending on this week’s pressure; Gilts are also on the backfoot fuelled by hawkish-leaning commentary from BoE’s Pill.Crude continued to hold an upward bias as focus remains on the geopolitical tensions, XAU/base metals hold a mild upward bias.Looking ahead, highlights include US NFP, Canadian Ivey PMI, Comments from Fed’s Williams, Goolsbee, ECB’s Elderson.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed amid light pertinent catalysts for the region ahead of the latest US NFP report.US dock workers have agreed a deal to end their current strike action.European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.9% on Thursday.DXY sits just below the 102 mark, JPY outperforms major peers, EUR/USD remains on a 1.10 handle.Israel’s ground operation in Lebanon is expected to last no more than a few weeks, according to ABC citing security officials.Looking ahead, highlights include EZ/UK Construction PMIs, US NFP, Canadian Ivey PMI, BoE’s Pill, Fed’s Williams, ECB’s de Guindos & Elderson.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are lower across the board (ex-FTSE 100), US futures are in negative terrirtory ahead of today’s US data deluge.Dollar is firmer vs G10 peers, GBP underperforms after BoE Governor Bailey said the bank could be a "bit more aggressive" in cutting rates provided the news that inflation continues to be good.Bonds are on the backfoot, extending on the pressure seen post-ADP on Wednesday; Gilts outperform following the dovish-leaning Bailey comments.Crude oil is continuing the benefit from the geopolitical risk premium, XAU/base metals dip amid the stronger DollarLooking ahead, US Services/Composite PMIs (Final), US Challenger Layoffs, IJC, Durable Goods (R), Factory Orders, ISM Services PMI, Speakers include Fed’s Bostic & Schmid, Supply from the US, Earnings from Constellation Brands.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed amid the backdrop of several holiday closures and ongoing geopolitical tensions, while Hong Kong participants booked profits.Fed's Barkin (2024 voter) said he sees two 25bps cuts this year as "a reasonable path" if the economy evolves as expected.BoE Governor Bailey said the bank could be a "bit more aggressive" in cutting rates provided the news that inflation continues to be good, in an interview with The Guardian.Israeli security cabinet decided to implement a harsh response to the Iranian attack and the response to Iran will be cruel but it will not lead to a regional war.European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.5% after the cash market closed higher by 0.2% on Wednesday.Looking ahead, highlights include EZ/UK/US Services/Composite PMIs (Final), Swiss CPI, EZ Producer Prices, US Challenger Layoffs, IJC, Durable Goods (R), Factory Orders, ISM Services PMI, BoE Decision Maker Panel (Sept), Speakers include Fed’s Bostic & Schmid, Supply from Spain, France & US, Earnings from Constellation Brands & Tesco.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are generally on a firmer footing whilst US futures are modestly lower with slight underperformance in the RTYDollar is flat unable to continue the prior day’s geopolitical-indued gains, JPY underperforms with USD/JPY around 144.25USTs are flat and Bunds give back some of its recent strength, Gilts follow peers and took another leg lower following an auctionCrude continues to benefit from the geopolitical risk premium, XAU slips off best levels whilst base metals gainLooking ahead, ADP National Employment, NBP Policy Announcement; OPEC+ JMMC Meeting, Speakers including ECB’s Elderson, Schnabel, Fed’s Hammack, Musalem, Bowman & Barkin. Earnings from Conagra & Levis.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed with some cautiousness seen amid heightened tensions in the Middle East after Iran conducted a missile attack on Israel.Israeli officials cited by Axios said Israel will launch a strong response within days, which could target oil production facilities inside Iran.European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 0.9% on Tuesday.DXY is steady above the 101 mark, EUR/USD remains sub-1.11, USD/JPY briefly rose above 144.Looking ahead, highlights include EZ Unemployment Rate, ADP National Employment, NBP Policy Announcement, OPEC+ JMMC Meeting, ECB’s de Guindos, Lane, Elderson, Schnabel, Fed’s Hammack, Musalem, Bowman & Barkin. Supply from UK & GermanyRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equities are mixed ahead of US ISM Manufacturing and JOLTS data; RTY marginally underperformsDollar is firmer continuing the gains seen post-Powell on Monday, EUR was fairly unreactive to EZ Manufacturing PMIs/HICPUSTs are firmer and back to pre-Powell levels, Bunds also gain but were unmoved by the EZ PMIs which were revised modestly higher but the overall growth narrative remains weakCrude continues to slip, XAU gains and base metals are mixedLooking ahead, US, Canadian Manufacturing PMIs, US ISM Manufacturing PMI, JOLTS Job Openings, Speakers including ECB’s Schnabel, BoE’s Pill, Fed’s Bostic, Cook & Barkin, Earnings from Paychex, Nike, Lamb WestonRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks began the new quarter mixed amid a slew of data releases and several key market closures with Mainland China, Hong Kong and South Korea closedFed Chair Powell hinted at a return to 25bp rate cuts and noted that the Fed is not in a rush to cut rates quickly.Israeli military said it began limited, localised and targeted raids against Hezbollah targets in the border area of southern Lebanon.European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.2% after the cash market closed lower by 1.3% on Monday.DXY is steady and holding onto yesterday's gains, JPY remains pressured vs. peers, EUR/USD sits on a 1.11 handle.Looking ahead, highlights include final EZ, US, Canadian Manufacturing PMIs, EZ HICP, US ISM Manufacturing PMI, JOLTS Job Openings, Riksbank Minutes, ECB’s de Guindos, Rehn & Schnabel, BoE’s Pill, Fed’s Bostic, Cook & Barkin, Supply from UK & Germany, Earnings from Paychex and NikeRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European equities post losses to varying degrees, with autos hit after several guidance cuts; US equity futures are flat/subdued with the focus on Fed Chair Powell later.Dollar is slightly softer, Antipodeans benefit from the positivity surrounding China whilst the traditional havens CHF & JPY lag.Bonds are modestly softer to varying degrees; Bunds were not too reactive after the German Regional CPI metrics painted a picture of cooling Y/Y inflation ahead of the Nationwide figure at 13:00 BST / 08:00 EDT.Crude oil has pared initial gains and is now modestly lower as markets digest the recent geopolitical updates between Israel/Hezbollah; XAU is subdued whilst base metals benefit from the Chinese optimism.Looking ahead, German CPI, Chicago PMI, Speakers including ECB President Lagarde, Fed Chair Powell, Bowman, BoE’s Greene, Earnings from Carnival.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mixed heading into month-end amid the backdrop of recent geopolitical escalation and as participants digested a slew of data releases.Chinese PMI data was overall mixed but included a contraction in both official and Caixin Manufacturing PMIs.Reports suggest that Israeli forces are concentrated on the northern front and preparing for a ground invasion of Lebanon.European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 0.7% on Friday.DXY is marginally softer, antipodeans lead across the majors, EUR/USD remains on a 1.11 handle, Cable is sub-1.34.Looking ahead, highlights include UK GDP, German Import Prices & Retail Sales, German State/Nationwide CPI, Italian CPI, Chicago PMI, Speakers including ECB President Lagarde, Fed Chair Powell, Bowman, BoE’s Greene.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk