US Market Open: USD flat, GBP hit after UK's inflation report and XAU resumes recent downside

US to probe China's 2020 trade compliance while Trump has "terminated" all trade talks with Canada.European bourses opened firmer but now off best levels whilst US equity futures are in the green; INTC +8.3%.USD slightly higher into CPI, EUR boosted on German PMIs but now pared.Bunds & Gilts hit by PMIs, OATs look to Moody's, USTs await CPI.Crude gives back recent strength, XAU also on the backfoot around USD 4.06k/oz.Looking ahead, US Flash PMIs (Oct), US CPI (Sep), CBR Policy Announcement, European Council (23rd-24th), Moody’s Credit Review on France, Speakers including ECB’s Cipollone & Nagel, Earnings from Procter & Gamble.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US to probe China's 2020 trade compliance while Trump has "terminated" all trade talks with CanadaDespite this, APAC bourses firmer as the region focuses on confirmation of a Trump-Xi meeting next weekDXY firmer but rangebound, USD/JPY tested 153.00Fixed benchmarks remain subdued, USTs await CPICrude pulled back from Thursday's rally, XAU is indecisiveLooking ahead, highlights include UK Retail Sales (Sep), EZ, UK & US Flash PMIs (Oct), US CPI (Sep), (Suspended Releases: US Build Permits & US New Home Sales), CBR Policy Announcement, European Council (23rd-24th), Moody’s Credit Review on France, Speakers including ECB’s Cipollone & Nagel, Earnings from NatWest, Porsche, Sanofi, Eni, Saab, Procter & GambleClick for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

China published fourth plenum communique: approved five-year plan, and aiming for a 'big increase' in the level of tech self-reliance.European equities are mostly higher, whilst US equity futures are mixed; TSLA -3%, IBM -7.2%, Quantum stocks +10%.DXY is flat, Antipodeans lead whilst havens lag in quiet trade.Bonds are pressured as the risk tone sees pockets of improvement; decent UK auction sparked little move in Gilts at the time.New Russian sanctions push crude benchmarks higher, XAU continues to consolidate.Looking ahead, Existing Home Sales (Sep), EZ Consumer Confidence Flash (Oct), Canadian Retail Sales (Aug), Australian Flash PMIs (Oct), (Suspended Releases: US Weekly Claims), CBRT Policy Announcement, CCP 4th Plenum (20th-23rd), European Council (23rd-24th). Speakers including ECB’s Lane, Fed's Bowman & Barr (Fed on Blackout). Earnings from Intel, American Airlines, Freeport McMoRan, Blackstone, T-Mobile US & Valero Energy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US-China frictions weigh on the risk tone; Bessent said they are contemplating the next move if talks don't work outDXY posts modest gains, EUR pressured, while Sterling remains lower but is off the worst levels on WednesdayFixed benchmarks struggled for direction, US 20yr was decentCrude supported by reports around Ukraine's use of Western long-range missiles, metals softerLooking ahead, highlights include US National Activity Index (Sep), Existing Home Sales (Sep), EZ Consumer Confidence Flash (Oct), Canadian Retail Sales (Aug), Australian Flash PMIs (Oct), (Suspended Releases: US Weekly Claims), CBRT Policy Announcement, CCP 4th Plenum (20th-23rd), European Council (23rd-24th), Speakers including ECB’s Lane, Fed's Bowman & Barr (Fed on Blackout), Supply from UK & US.Earnings from Dassault, Orange, STMicroelectronics, Beiersdorf, Nokia, BE Semiconductor, Intel, American Airlines, Freeport McMoRan, Honeywell, Dow, Southwest Airlines, Blackstone, PG&E, T-Mobile US & Valero Energy.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are broadly lower, but FTSE 100 outperforms after UK inflation; US equity futures are modestly weaker.USD is flat & GBP hit after region's softer-than-expected inflation report, which has boosted bets for a cut in December.USTs are flat/slightly firmer ahead of supply, Gilts gap higher after CPI, Bunds marginally pressured after yet another poor auction.Initial morning bounce back in gold has faded with XAU now lower on the session; crude complex is on a firmer footing.Looking ahead, CCP 4th Plenum (20th-23rd), Speakers including ECB’s de Guindos, Lagarde & Fed's Barr, Supply from the US, Earnings from SAP, Tesla, IBM, Kinder Morgan, Alcoa, Lam Research, GE Vernova, Hilton, AT&T & Thermo Fisher.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he will discuss a lot of things with Chinese President Xi in two weeks; however, he added that the meeting might not happenUS futures are marginally firmer, while European futures point to a slightly lower cash openDXY softened overnight, EUR and GBP lifted modestly off Tuesday's trough, USD/JPY contained and back below 152.00Fixed benchmarks rangebound into supplyCrude underpinned by a Russian strike on Ukrainian energy infrastructure, XAU continued to falter to the USD 4k/oz mark but has since bouncedLooking ahead, highlights include UK CPI (Sep), CCP 4th Plenum (20th-23rd), BoJ SLOOS, Speakers including ECB’s de Guindos, Lagarde & Fed's Barr, Supply from Germany & US, Earnings from SAP, Barclays, Akzo Nobel, Tesla, IBM, Kinder Morgan, Alcoa, Lam Research, GE Vernova, Hilton, AT&T & Thermo Fisher.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mixed and have traded choppy throughout the morning; US equity futures are modestly lower, ahead of a slew of earnings.DXY is underpinned by the downbeat risk tone and easing credit concerns; JPY underperforms as Takaichi becomes Japanese PM.Global fixed paper are bid amid the softer risk tone and reports around AA rating criteria.Metals sell off as “debasement trade” loses momentum; Crude is essentially flat in choppy trade.Looking ahead, Canadian CPI (Sep), NBH Policy Announcement, CCP 4th Plenum (20th-23rd), Speakers including ECB’s Nagel & Lagarde, Fed’s Waller, BoE's Bailey & BreedenEarnings from Netflix, Intuitive, Texas Instruments, Capital One Financial, Coca-Cola, GE Aerospace, Elevance Health, Lockheed Martin, Philip Morris, RTX, General Motors, 3M, Nasdaq & Danaher.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks took their cues from the rally on Wall Street as the focus remained on US-China trade with some optimism following US President Trump's comments in which he stated that China has been respectful of them.US President Trump continued to tout a November 1st deadline for additional tariffs, he also reaffirmed that he will be meeting with Chinese President Xi and thinks they will reach a 'fantastic deal'.Japanese LDP leader Takaichi won the lower house vote (237 votes out of 465-seats) to become Japan's first female PM, as expected.European equity futures indicate a modestly positive cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with gains of 1.3% on Monday.Looking ahead, highlights include UK PSNB (Sep), Canadian CPI (Sep), NBH Policy Announcement, CCP 4th Plenum (20th-23rd), Speakers including ECB’s Nagel, Lane & Lagarde, Fed’s Waller, BoE's Bailey & Breeden, Supply from UK & Germany,Earnings from Netflix, Intuitive, Texas Instruments, Capital One Financial, Coca-Cola, GE Aerospace, Elevance Health, Lockheed Martin, Philip Morris, RTX, General Motors, 3M, Nasdaq & Danaher.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were higher amid tailwinds from recent trade-related rhetoric, including US President Trump's comments on Friday that 100% tariffs are not sustainable and that he will be meeting with Chinese President Xi.Nikkei 225 surged to a fresh all-time high above the 49,000 level amid a reignition of the Takaichi trade with the LDP leader on track to become Japan's first female PM following an agreement to form a coalition with Japan's Innovation Party.In China, PBoC maintained LPRs as expected, whilst Chinese GDP, Industrial Production and Retail Sales either matched or topped forecasts, and the CPC Central Committee is also holding a four-day closed-door meeting through to Thursday.US President Trump said on Friday that they are getting along with China, and it looks like the meeting with China will go forward, while he could move the November 1st deadline up if he wanted. Trump added that they will make a deal that will be good for both countries and thinks they will be in a strong position in trade talks with China.Israel’s Channel 12 reported that Israel was attacking Gaza, while the Israeli military said Hamas carried out multiple attacks against Israeli forces beyond the ‘yellow line’, violating the ceasefire; both sides later said they will adhere to the ceasefire once again.S&P lowered France to 'A+' from 'AA-'; Outlook Stable, while it cited heightened risks to budgetary consolidation; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.8% after the cash market finished with losses of 0.8% on Friday.Looking ahead, highlights include German Producer Prices (Sep), Canadian Producer Prices (Sep), US Leading Index (Sep), New Zealand Trade (Sep), CCP 4th Plenum (20th-23rd), Speakers including ECB’s Schnabel & RBA’s Jones, Supply from EU & Italy, Earnings from Sandvik, Zions Bancorp & Cleveland Cliffs.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European and US equity futures are lower across the board, with the US regional banking fears weighing on sentiment; KRE -2% in pre-market trade.DXY is a little lower; typical havens (JPY, CHF) benefit from the risk-tone whilst the Aussie lags.Global fixed paper driven higher as traders remain wary on US regional banks.Crude continues Thursday’s selling, XAU choppy amid debt concerns.Looking ahead, Speakers including BoE’s Pill, Greene & Breeden, Fed’s Musalem, ECB's Nagel, Earnings from Ally Financial, SLB, American Express, State Street. Suspended Releases: US Building Permits/Housing Starts (Sep), Industrial Production (Sep).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk