Europe Market Open: Cautious sentiment as European traders look ahead of US CPI and ECB

US Treasury Secretary Bessent will meet with Chinese Vice Premier He and other senior Chinese officials next week in Madrid, while Bessent and He are to discuss key US-China national security, economic and trade issues.US equity futures are lower across the board, RTY lags. European bourses began marginally firmer, but have since waned.USD attempts to recover from the pressure seen on Thursday's data, DXY at highs, while the JPY lags.Fixed income is in the red, though USTs are set to end the week near-enough unchanged. Gilts are the relative outperformer post-GDP.Crude began in the red, extending to a new WTD low before bouncing and recouping some of Thursday's pressure. Metals firmer despite the USD strength.Looking ahead, highlights include US University of Michigan Prelim (Sep), CBR Announcement, Credit Rating Reviews for France & Spain. US President Trump on Fox.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Treasury Secretary Bessent will meet with Chinese Vice Premier He and other senior Chinese officials next week in Madrid, while Bessent and He are to discuss key US-China national security, economic and trade issues.US President Trump's administration asked the US appeals court to pause a ruling that blocked the removal of Fed's Cook.ECB rate cut debate is said to not be over, but October is seen as too soon, and the next real discussion is more likely in December, according to Reuters sources.APAC stocks were mostly higher following the gains on Wall St; European equity futures indicate a marginally positive cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with gains of 0.5% on Thursday.Looking ahead, highlights include German CPI Final (Aug), UK GDP (Jul), French Final CPI (Aug), Spanish Final CPI (Aug), US University of Michigan Prelim (Sep), CBR Announcement, ECB Publication of ECB staff macroeconomic projections for the euro area, Credit Rating Reviews for France & Spain.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are modestly firmer, whilst US equity futures are mixed ahead of the ECB and US CPI.DXY is firmer and towards session highs; JPY underperforms, with USD/JPY rising to just shy of the 148.00 mark.USTs and Bunds are a touch softer into ECB/US CPI and a 30-year auction following a strong 3- and 10-year outing earlier this week.Industrial commodities and gold are subdued, awaiting key risk events; some modest upticks seen on Poland, Ukraine & Lithuania, calling the recent Russian drone incursion an “unprecedented” provocation.Looking ahead, US CPI (Aug) & Jobless Claims, ECB Policy Announcement & Press Conference, CBRT Announcement, OPEC Monthly Report, Supply from the US, and Earnings from Adobe.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks followed suit to the mixed performance stateside, where the S&P 500 and Nasdaq printed fresh record highs.US President Trump's administration appealed the court ruling blocking the removal of Fed Governor Cook.US Senate Republicans are aiming to confirm President Trump’s temporary Federal Reserve pick Stephen Miran as soon as Monday, according to Politico, citing two sourcesEU is reportedly very unlikely to impose crippling tariffs on India or China, the main buyers of Russian oil, as US President Trump urged the bloc to do so, according to Reuters citing EU sources.European equity futures indicate a flat cash market open with Euro Stoxx 50 futures U/C after the cash market closed with losses of 0.1% on Wednesday.Looking ahead, highlights include US CPI (Aug) & Jobless Claims, ECB Policy Announcement & Press Conference, CBRT Announcement, IEA & OPEC Monthly Report, Supply from Italy and the US, and Earnings from Adobe.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Poland said its airspace was repeatedly violated by drones during today's attack by Russia on Ukraine; Poland shot down Russian drones after 'unprecedented airspace violation'. Polish PM Tusk says Poland asked to evoke Article 4 of NATO treaty.US President Trump reportedly asked the EU to hit China and India with 100% tariffs to pressure Russian President Putin to end the war.US judge temporarily blocked President Trump from removing Federal Reserve Governor Cook.European bourses started off stronger, but then slipped after Polish PM asks to evoke Article 4; Oracle +29% post-earnings.DXY is incrementally lower whilst Antipodeans lead.Bunds briefly bolstered by NATO remarks. Complex awaits US data and supply.Crude and gold rise as NATO member Poland downs drones above its territory.Looking ahead, US PPI (Aug), Wholesale Sales (Jul), Comments from SNB’s Schlegel, Supply from US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Poland said its airspace was repeatedly violated by drones during today's attack by Russia on Ukraine; Poland shot down Russian drones after 'unprecedented airspace violation'.US President Trump reportedly asked the EU to hit China and India with 100% tariffs to pressure Russian President Putin to end the war.US judge temporarily blocked President Trump from removing Federal Reserve Governor Cook.French President Macron appointed Sebastien Lecornu as new PM, according to BFM.European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with gains of 0.1% on Tuesday.Looking ahead, highlights include Norwegian CPI (Aug), US PPI (Aug), Wholesale Sales (Jul), Comments from SNB’s Schlegel, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Global equity futures are modestly mixed; Anglo American & Teck merge to create a USD 50bln mining giant.USD is a little lower whilst JPY soars amid hawkish BoJ reports.OAT-Bund 10yr spread a little wider in the aftermath of French PM Bayrou’s removal, JGBs hit by BoJ sources.BoJ reportedly sees some chance of hiking this year, despite the political situation, via Bloomberg citing sources; likely to keep rates unchanged on September 19thCrude rebounds and metals non-committal awaiting the next impetus.Looking ahead, US NFP Prelim. Benchmark Revisions, Apple Event, Comments from BoE's Breeden, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

French PM Bayrou lost the confidence vote in the National Assembly, as expected; French President Macron said he will name a new PM in the coming days.UK Chancellor Reeves is to tell ministers to prioritise the fight against inflation in a Cabinet meeting today, according to FT.US Senate Banking panel to vote on Miran's Fed nomination on September 10th, according to Bloomberg.European equity futures indicate a marginally lower cash market open with Euro Stoxx 50 futures down 0.4% after the cash market closed with gains of 0.8% on Monday.Looking ahead, highlights include French Industrial Output, US NFP Prelim. Benchmark Revisions, Apple Event, Comments from BoE's Breeden, Supply from Netherlands, UK, Germany & US.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japanese PM Ishiba said he has decided to resign as LDP president and gave instructions to hold an emergency LDP leadership election; LDP is making final arrangements for a leadership vote on October 4th, according to TBS.US President Trump said Waller, Warsh and Hassett are the three finalists for the Fed chair nomination.US-China trade talks have reportedly made little progress towards a deal, and an impasse was hit on the fentanyl issue, according to WSJ.European bourses hold a positive bias, whilst US equities futures are incrementally firmer/flat.JPY lags as Japanese PM Ishiba resigns, EUR eyes the French PM's confidence vote later today.USTs/Bunds are essentially flat; more focus on Japan's emergency LDP election; OATs await France.Crude gains post OPEC and amid geopolitics; Gold soars to another ATH.Eight OPEC+ members agreed to raise the oil production by 137k bpd in October (as touted), citing a steady global economic outlook and current healthy market fundamentals.Looking ahead, US Employment Trends (Aug), NY Fed SCE & French Confidence Vote.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Japanese PM Ishiba said he has decided to resign as LDP president and gave instructions to hold an emergency LDP leadership election; LDP is making final arrangements for a leadership vote on October 4th, according to TBS.US President Trump said Waller, Warsh and Hassett are the three finalists for the Fed chair nomination.US-China trade talks have reportedly made little progress towards a deal, and an impasse was hit on the fentanyl issue, according to WSJ.Eight OPEC+ members agreed to raise the oil production by 137k bpd in October (as touted), citing a steady global economic outlook and current healthy market fundamentals.European equity futures indicate a higher cash market open with Euro Stoxx 50 futures up 0.4% after the cash market closed with losses of 0.5% on Friday.Looking ahead, highlights include German Industrial Output (Jul), Trade Balance (Jul), EZ Sentix Index (Sep), US Employment Trends (Aug) & NY Fed SCE.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk