Europe Market Open: Indecisive and cagey trade into US PPI and Fed's Powell

APAC stocks traded mostly lower after the indecisive performance stateside amid the rising yield environment.European equity futures indicate a contained open with the Euro Stoxx 50 future flat after the cash market closed lower by 0.6% on Tuesday.DXY trades in a tight range above 104.50, EUR/USD is a touch softer below 1.0850, AUD shrugged off hot CPI.BoJ Board Member Adachi said the BoJ is not yet at a stage where they are convinced that there is a sustained achievement of the price target.Looking ahead highlights include German GfK Consumer Sentiment, German CPI, US Richmond Fed Index, comments from Fed’s Williams & Bostic, Supply from UK, Germany & USRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mixed continuing the price action seen in APAC; US equity futures are in the greenDollar is flat/softer, Kiwi the G10 outperformer after strong price action overnight and in continuation of the RBNZ last weekUSTs/Bunds are mixed and relatively contained, whilst Gilts outperform playing catch-up to Bund strength in the prior sessionCrude benefits from heightened geopol tensions, XAU dips and base metals are firmer across the board following the announcement of China’s USD 47.5bln chip fundLooking ahead, Canadian Producer Prices, Comments from ECB's Knot, Centeno, Fed’s Kashkari, Cook & Daly, and Supply from the USRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mixed with price action mostly rangebound in the absence of a lead from Wall St and as geopolitical uncertainty lingered following an Israeli strike on Rafah which killed dozens of Palestinians on Sunday.DXY marginally softened beneath the 104.50 level albeit with trade kept to within a very tight range following the Memorial Day holiday weekend stateside and with the Fed's preferred inflation gauge scheduled for this Friday.An Egyptian soldier was killed in a clash with Israeli troops at a crossing on Monday, according to Bloomberg; Both Israel and Egypt are trying to keep the event "low profile," according to Israeli Radio correspondent.European equity futures indicate a positive open with the Euro Stoxx 50 future up 0.2% after the cash market closed higher by 0.5% on Monday.Looking ahead, highlights include German Wholesale Price Index, ECB Consumer Expectations Survey, Canadian Producer Prices, Comments from ECB’s Schnabel, Fed’s Mester & Kashkari, Supply from Netherlands, Italy & US.Click here 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 red, though have recently has clambered off lows; US equities are modestly firmer.Dollar is slightly softer, GBP shrugs off initial Retail Sales weakness, overall trade contained.Bonds are very modestly firmer, attempting to claw back some of the US PMI-induced pressure.Crude is softer and near session lows without a clear catalyst, XAU gains whilst base metals consolidate.Looking ahead, US Durable Goods, Canadian Retail Sales, Comments from ECB’s de Cos, Centeno and Fed’s Waller.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The selling in US stocks yesterday accelerated once European desks packed for the day, with little fresh fundamentals driving the move after the US Flash PMIs.APAC stocks followed suit to the selling on Wall St where the initial NVIDIA-related euphoria was soured after strong US PMI data lifted the dollar and yields.DXY traded steadily after surmounting the 105.00 level in the aftermath of the strong US PMI data, USD/JPY marginally edged higher after reclaiming the 157.00 handle.European equity futures indicate a lower open with the Euro Stoxx 50 future down 0.5% after the cash market closed higher by 0.3% on Thursday.Looking ahead, highlights include UK Retail Sales, US Durable Goods, Canadian Retail Sales, Comments from ECB’s Schnabel & de Cos, Fed’s Waller & SNB’s Jordan.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are modestly firmer with Tech lifted by post-earning strength in Nvidia (+7% pre-market); NQ outperforms.Dollar is slightly softer, Kiwi continues the prior day’s gains, Euro was choppy on Flash PMIs but ultimately firmer and saw no reaction to higher Q1 wages.Treasuries are flat, whilst Bunds are softer following German/EZ PMIs ahead of US supply.Crude is firmer and near session highs, spot gold and copper futures aggressively pull back after printing record highs on Monday.Looking ahead, US PMIs, US IJC, Comments from BoE's Pill, ECB's Villeroy, and Fed’s Bostic, Supply from US. Earnings: Ralph Lauren, Medtronic & IntuitRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed following soft performance of US cash markets before receiving support post-Nvidia earnings.Nvidia's earnings topped forecasts and the Co. also announced a ten-for-one stock split; +6% after-hours.FOMC Minutes suggested the disinflation process would take longer than previously thought.European equity futures indicate a positive open with the Euro Stoxx 50 future up 0.3% after the cash market closed lower by 0.4% on Wednesday.UK PM Sunak confirmed reports that he will call for a general election on July 4th.DXY held onto recent spoils and remains just below the 105 mark, NZD leads the majors once again.Looking ahead, highlights include EZ, UK, US PMIs, US IJC, EZ Consumer Confidence, Q1 Negotiated Wages, CBRT Announcement, Comments from Fed’s Bostic, Supply from US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are entirely in the red, whilst US futures trade tentatively ahead of FOMC Minutes and Nvidia earningsDollar is incrementally firmer, Kiwi outperforms post-RBNZ & GBP bid on UK inflation metricsBonds are lower after hotter-than-expected UK CPI metrics, with Gilts the clear underperformerCrude is subdued, XAU is softer alongside a broader pullback in base metalsLooking ahead, Fed Minutes, Speak from Fed's Goolsbee, BoE’s Breeden, Supply from the US, Earnings from Nvidia, Analog Devices, TJX & TargetRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly rangebound as global markets brace for the FOMC Minutes and Nvidia earnings.European equity futures indicate a slightly positive open with Euro Stoxx 50 futures up 0.1% after the cash market closed lower by 0.5% on Tuesday.RBNZ kept the OCR unchanged as expected but raised its OCR forecasts across the projection horizon.DXY is flat, NZD is boosted post-RBNZ, JPY marginally lags, GBP eyes UK CPI.Looking ahead, highlights include UK CPI/PPI, Fed Minutes, Fed’s Bostic, Mester, Collins, Goolsbee, ECB’s Lagarde & BoE’s Breeden, Supply from UK, Germany & US, Earnings from SSE, Marks & Spencer, Nvidia, Analog Devices, TJX & Target.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are entirely in the red, whilst US futures hold around the unchanged markG10s are flat/mixed; DXY is very modestly softer and underpinning some G10 peersTreasuries are flat, whilst Bunds narrowly outperform following softer than expected German PPI before coming off best levels amid higher EZ Labour Costs Prelim dataCrude is subdued in catalyst-thin trade, XAU and base metals take a breather from their recent surgeLooking ahead, Canadian CPI, US Philadelphia Fed Non-mfg Business Outlook Survey, ECB Governing Council Retreat, NBH Policy Announcement, Fed’s Bostic, Barkin, Waller, Williams, Barr & BoE’s Bailey, Earnings from Macys & AutozoneRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk