Newsquawk Rundown, Daily Podcast

US President Trump had a good meeting with Chinese President Xi, in which the two sides discussed ways to enhance economic cooperation. The two sides agreed that the Strait must remain open and that Iran can never have a nuclear weapon. However, Taiwan was not mentioned.US President Trump's team is now discussing options for military escalation to break the deadlock, Axios reported. Options include resuming Project Freedom or striking Iranian infrastructure. European bourses continue to rebound; NVDA gains after the US reportedly approved around 10 Chinese firms to buy H200 chip.DXY flat, GBP immediately pared post-GDP gains as politics remains in focus.USTs attempt to bounce back from recent losses; Gilts eye a potential leadership challenge.Crude holds a mild upward bias but wanes off its best levels as US and Iran prefer diplomacy.Looking ahead, highlights include Trump-Xi Summit (14th-15th May); US Retail Sales (Apr), Export/Import Prices (Apr), Jobless Claims (May 9), Atlanta Fed GDP. Speakers include BoE’s Pill, Fed’s Bowman, Miran, Logan, Schmid, Hammack & Williams.Holiday: Ascension Day Holiday (Closures in Switzerland, Sweden, Norway, Finland, Denmark).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump told Chinese President Xi that they've had a fantastic relationship and they are going to have a fantastic future together.Chinese President Xi told US President Trump it is a pleasure to meet him in Beijing, while he has always believed that the common interests between China and the US outweigh the differences.US Secretary of State Rubio said the US hopes to convince China to play a more active role in persuading Iran to back down on its actions in the Gulf.An Iranian NSC spokesperson said new confrontations with the US are possible, and they are preparing a law regarding navigation in the Strait of Hormuz.APAC stocks traded mixed; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.7%.Looking ahead, highlights include Trump-Xi Summit (14th-15th May); UK GDP (Mar/Q1), Industrial Production (Mar), Spanish HICP Final (Apr), US Retail Sales (Apr), Export/Import Prices (Apr), Jobless Claims (May 9), Atlanta Fed GDP. Speakers include ECB’s Lagarde, BoE’s Pill, Fed’s Logan, Schmid, Hammack & Williams. Earnings from Telefonica, Burberry & National Grid.Holiday: Ascension Day Holiday (Closures in Switzerland, Sweden, Norway, Finland, Denmark).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US Treasury Secretary Bessent and Vice Premier He held talks. Following the conclusion, Chinese state media reported that China and the US held candid, in-depth and constructive exchanges.European bourses rebounded from Tuesday's selloff, DAX 40 outperform following a heavy earnings docket; US equity futures gain.GBP mixed against its peers as Starmer appears on a firmer footing but risks remain into on the return of Parliament.Global fixed benchmarks are flat/incrementally firmer, Gilts find reprieve after recent pressure.Crude lower but off lows after taking a breather overnight; IEA said world oil supply to fall by 3.9mln bpd in 2026. Looking ahead, highlights include US PPI (Apr), BoC Minutes (Apr), OPEC MOMR (May). Speakers include BoE’s Mann, Fed’s Collins & Kashkari, ECB’s Lane & Lagarde. Supply from the US. Earnings from Cisco Systems.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are only going to make a good deal regarding Iran and will have a long talk with Chinese President Xi about the Iran war.Iran will not enter the second round of talks with the US without fulfilling five confidence-building conditions, local media reported.US President Trump posted that NVIDIA CEO Huang is on Air Force One along with a number of CEOs of large US companies.UK government whips believe Wes Streeting will make his move on Thursday to avoid clashing with the King’s Speech.APAC stocks traded mixed; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.8%.Looking ahead, highlights include Swedish Inflation Final (Apr), French Inflation Final (Apr), EZ Employment Change (Q1), Industrial Production (Mar), GDP 2nd Estimate (Q1), US PPI (Apr), BoC Minutes (Apr), Riksbank Minutes (May), IEA OMR (May), OPEC MOMR (May). Speakers include BoE’s Mann, Fed’s Collins & Kashkari, ECB’s Lane & Lagarde. Supply from Australia, Italy, Germany & US. Earnings from Cisco Systems, Alibaba, Siemens, Deutsche Telekom, Allianz, E.ON, Merck & RWE.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

UK PM Starmer said he will not be setting out a timetable for departure. This came after over 81 Labour MPs calling for the PM to resign, enough to launch a leadership challenge.European bourses are entirely in the red, with UK Banks hit on political turmoil; US equity futures pull back from ATHs.DXY is firmer, buoyed by geopols; GBP underperforms amidst political unrest, while JPY remains on intervention watch.Gilts underperform, USTs lower ahead of US CPI. Crude rises as US-Iran woes mount, with no off-ramp in sight.Looking ahead, highlights include US CPI (Apr), ADP Employment Change Weekly, EIA STEO (May), and EU Informal Meeting of Energy Ministers (May 12-13). Speakers include ECB’s Elderson, Fed’s Goolsbee. Supply from the US. Earnings from Under Armour.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he has a plan on Iran and repeated that their proposal is unacceptable, while he added that the US blockade on Iran was part of military genius.US President Trump said the ceasefire is unbelievably weak and is on life support, but added that a diplomatic solution with Iran is still possible.US President Trump was reported to have met with his national security team on Monday to discuss the way forward in the Iran war, including possibly resuming military action, Axios sources reported.The White House said US President Trump will meet with Chinese President Xi on Thursday at 10:15 AM in Beijing (03:15BST/22:15EDT), and a banquet will be held at 18:00 on Thursday (11:00BST/06:00EDT).APAC stocks traded mixed; European equity futures indicate a negative open with Euro Stoxx 50 futures down 0.7%.Looking ahead, highlights include German HICP Final (Apr), ZEW (May), US Inflation (Apr), ADP Employment Change Weekly, EIA STEO (May), and EU Informal Meeting of Energy Ministers (May 12-13), Australian federal budget. Speakers include RBNZ’s Bremen, BoC’s Macklem, ECB’s Elderson, Fed’s Williams & Goolsbee. Supply from the Netherlands, UK, Germany & US. Earnings from JD com, Under Armour, Siemens Energy, Munich Re, Bayer & Vodafone.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump rejected Iran's response to the peace plan, which he called totally unacceptable.Iran's proposal was said to have stressed the need for the US to pay compensation for war damages and emphasised Iran’s sovereignty over the Strait of Hormuz. Brent initially climbed above USD 105/bbl but has waned off highs on potential diplomacy.European bourses traded mixed, Compass raised its FY guidance; US equity futures muted.DXY benefited from higher energy prices, CHF underperforms while GBP is cautious as PM Starmer addresses the nation. USTs and Bunds off worst levels as energy benchmarks dip from overnight highs.Looking ahead, highlights include US Existing Home Sales, BoC Market Participants Survey. Supply from the US. Earnings from Hims & Hers, Constellation Energy & Circle Internet.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran submitted its response to the latest proposal by the US to end the war; state media later reported that the US proposal amounted to Iran surrendering to Trump’s excessive demands.US President Trump rejected Iran's response to the peace plan, which he called totally unacceptable.Iran's proposal was said to have stressed the need for the US to pay compensation for war damages and emphasised Iran’s sovereignty over the Strait of Hormuz. Brent climbed above the USD 105/bbl, and WTI breached the USD 100/bbl level to the upside. APAC stocks traded mixed; European equity futures indicate a flat cash market open.Looking ahead, highlights include Norwegian Inflation (Apr), US Existing Home Sales, BoC Market Participants Survey. Supply from the US. Earnings from Hims & Hers, Constellation Energy, Circle Internet, Hannover Re & Gea Group.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The US military has carried out strikes in Iran's Qeshm port and Bandar Abbas, according to Fox News, citing a US official, who said it is not a restart of the war. Iran's military said the US violated the ceasefire.US President Trump said the Iran ceasefire is still on and that the US is negotiating with the Iranians. He added that Pakistan asked the US not to do Project Freedom during the negotiations. Remarks which have helped energy prices ease from highs.The situation on Iranian islands and coastal cities by the Strait of Hormuz is back to normal, according to Press TV. European bourses are broadly in the red, reacting to US-Iran flare-ups, whilst US equity futures gain.DXY wanes as oil eases and G10s gain; GBP was initially unreactive to UK local elections but now marginally outperforms peers.USTs await NFP, Gilts bounce as the UK local elections results continue to filter in.Looking ahead, highlights include US Jobs Report (Apr), University of Michigan Survey Prelim. (May), Canadian Jobs Report (Apr). Speakers include ECB's Schnabel, BoE’s Breeden, Bailey, Fed's Cook, Waller, Goolsbee, Daly, Miran and Bowman.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The US military has carried out strikes in Iran's Qeshm port and Bandar Abbas, according to Fox News, citing a US official. The official said this is not a restart of the war or the end of the ceasefire.The US military said US forces intercepted Iranian attacks and responded with self-defence strikes against Iranian military facilities.US President Trump said the Iran ceasefire is still on and that the US is negotiating with the Iranians. He added that Pakistan asked the US not to do Project Freedom during the negotiations.Iran's Top Joint Military Command said the US violated the ceasefire by targeting an Iranian oil tanker and another ship entering the Strait of Hormuz.The situation on Iranian islands and coastal cities by the Strait of Hormuz is back to normal, according to Press TV.In UK local elections, Reform UK has been the clear beneficiary, exceeding 300 gained seats while Labour and the Conservatives suffer, losing 220 and 108 seats respectively, and counting.Looking highlights, include German Balance of Trade (Mar), German Industrial Production (Mar), Canadian Jobs Report (Apr), US Jobs Report (Apr), University of Michigan Survey Prelim. (May). Speakers include ECB President Lagarde, de Guindos, Cipollone, Schnabel, BoE’s Breeden, Bailey, Fed's Cook, Waller, and Bowman.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Al Arabiya reported that "the coming hours will witness a breakthrough for the situation of the ships stuck in the strait", spurring pressure in the crude complex.Iran is expected to provide its reply to the US proposal for ending the war to mediators on Thursday, according to CNN, citing a regional source.US President Trump could turn to military action without an agreement with Iran ahead of the China trip, according to Axios, citing US officials.European and US equity futures are modestly firmer; ARM -6.5% post-earnings.DXY downbeat as positive geopolitical headlines pressure crude; Antipodeans lead whilst the JPY lags vs peers.Fixed benchmark made new WTD highs amidst geopolitical optimism, but now off best levels.Looking ahead, highlights include US Challenger Job Layoffs (Apr), US Jobless Claims (May 2), Atlanta Fed GDP, CNB/Banxico Policy Announcement (May), CBR Minutes (May), UK Local Elections. Speakers include ECBʼs Elderson, Schnabel, Lane, BoEʼs Mann, Taylor, Fedʼs Hammack, Williams, Kashkari. Earnings from CoreWeave, IREN, Coinbase, Cloudflare, DraftKings, ACM Research, Datadog, McDonald's.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran is expected to provide its reply to the US proposal for ending the war to mediators on Thursday, according to CNN, citing a regional source. US President Trump is optimistic about the Iran framework, and that the timeframe is one week, Fox reported. US President Trump could turn to military action without an agreement with Iran ahead of the China trip, according to Axios, citing US officials.US President Trump's reversal on his plan to help ships go through the Strait of Hormuz came after Saudi Arabia suspended the US's ability to use its bases and airspace to carry out Project Freedom, according to NBC, citing US officials.European equity futures are indicative of a quiet open with the Euro Stoxx 50 future +0.1% after cash closed +2.5% on Wednesday.Looking ahead, highlights include German Factory Orders (Mar), French Balance of Trade (Mar), US Challenger Job Layoffs (Apr), US Jobless Claims (May 2), Atlanta Fed GDP, Norges Bank/Riksbank/CNB/Banxico Policy Announcement (May), CBR Minutes (May), UK Local Elections. Speakers include ECBʼs de Guindos, Elderson, Schnabel, Lane, BoEʼs Lombardelli, Mann, Taylor, Fedʼs Hammack, Williams, Kashkari, Norges Bankʼs Bache, Riksbankʼs Thedeen. Supply from Spain, France. Earnings from CoreWeave, IREN, Coinbase, Cloudflare, DraftKings, ACM Research, Datadog, McDonald's & ShellRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Crude & USD dented, equities & fixed bid after Trump paused Project Freedom and more recently as Axios reports that the US & Iran are closing in on an MOU to end the conflict.Brent below USD 101.50/bbl, ES +0.7%, DAX 40 +2.5%, EUR/USD above 1.1770, Bunds firmer by over 80 ticks.JPY was likely the subject of intervention overnight, falling from 157.00 to a 155.03 low, but has since rebounded back towards the 156.00 mark.NQ +1.3%, outperforming as AMD surges +19% as data centre growth drives a beat.Israeli security/military officials reportedly believe negotiations are a waste of time, and conveyed to the US a desire to resume attacks on Iran.Looking ahead, highlights include Canadian Ivey PMI (Apr), US ADP Employment (Apr), US Treasury Refunding Announcement, NBP Policy Announcement, Speakers include Fed’s Goolsbee, Musalem, BoC's Macklem & Rogers.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Energy was pressured by Trump announcing a pause to Project Freedom, though the blockade remains.To the benefit of fixed income and G10 FX against the USD. USD/JPY slumped to a 155.03 low.APAC equities benefited from the above; US and European futures point to a constructive open. NQ leads post-AMD.Israeli security/military officials reportedly believe negotiations are a waste of time, and conveyed to the US a desire to resume attacks on Iran.Looking ahead, highlights include Swedish Inflation Prelim. (Apr), EZ PMIs Final (Apr), PPI (Mar), Canadian Ivey PMI (Apr), US ADP Employment (Apr), US Treasury Refunding Announcement, ECB Wage Tracker (May), NBP Policy Announcement, Speakers include ECB’s Lane, Cipollone, Fed’s Goolsbee, Musalem, BoC's Macklem & Rogers, Supply from the UK & Germany.Earnings from Arm, AppLovin, Snap, Whirlpool, Walt Disney, Kraft Heinz, Uber, CVS, Telecom Italia, Banca Generali, HelloFresh, Fresenius, Daimler Truck, Lufthansa & Continental.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the war could go on for another two to three weeks; time is not of the essence.US officials say the military is closer to resuming combat operations than 24 hours ago, Fox reported.Iranian Foreign Minister Araghchi posted, "As talks are making progress with Pakistan's gracious effort, the US should be wary of being dragged back into a quagmire by ill-wishers. So should the UAE."European and US equity futures are broadly firmer; Palantir -2% as commercial revenue fell short of expectations.DXY is flat, JPY experiences volatile two-way action, AUD pressured post-RBA, where it hiked by 25bps, statement was net-hawkish, but Governor Bullock suggests there is room now to wait and see.Gilts gap lower on return from a Bank Holiday, USTs and Bunds relatively contained.Crude pares Monday's gains, to the benefit of XAU.Looking ahead, highlights include US Building Permits Final (Mar), Canadian Balance of Trade (Mar), Canadian PMI (Apr), US PMI Final (Apr), US ISM Services (Apr), US JOLTS (Mar), US New Home Sales (Mar), US RCM/TIPP Economic Optimism (May), New Zealand Unemployment Rate (Q1). Speakers include ECB’s Lagarde, Lane, Fed's Bowman, Barr. Supply from Germany. Earnings from AMD, AMC, Strategy, Tempus AI, Shopify, PayPal, Pfizer.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the war could go on for another two to three weeks; time is not of the essence.US officials say the military is closer to resuming combat operations than 24 hours ago, Fox reported.Iranian Foreign Minister Araghchi posted, "As talks are making progress with Pakistan's gracious effort, the US should be wary of being dragged back into a quagmire by ill-wishers. So should the UAE."RBA announcement saw a near-unanimous vote to hike the Cash Rate, coupled with the net hawkish statement, which highlighted inflation concerns from the ongoing Iranian war.European equity futures point to a lower open, with the Euro Stoxx 50 future down 0.2% after cash markets fell 2.2% on Monday.Looking ahead, highlights include Swiss Inflation (Apr), US Building Permits Final (Mar), Canadian Balance of Trade (Mar), Canadian PMI (Apr), US PMI Final (Apr), US ISM Services (Apr), US JOLTS (Mar), US New Home Sales (Mar), US RCM/TIPP Economic Optimism (May), New Zealand Unemployment Rate (Q1). Speakers include RBA’s Bullock, ECB’s Lagarde, Lane, Fed's Bowman, Barr. Supply from Germany. Earnings from AMD, AMC, Strategy, Tempus AI, Shopify, PayPal, Pfizer, HSBC, Leonardo, and Infineon.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump posted on Sunday that the US will guide neutral ships safely out of the Strait of Hormuz under “Project Freedom”, beginning Monday morning Middle East time.An Iranian official said any American interference in the new maritime regime of the Strait of Hormuz will be considered a violation of the ceasefire. Iranian Major Abdullahi said any foreign armed forces, particularly the US, would be attacked if they approach and enter the Strait of Hormuz.European bourses mostly lower on geopolitical risk; Autos lag as Trump threatens a 25% tariff on EU cars.US equity futures are modestly mixed. GameStop (-0.8%) is offering to purchase eBay (+8%) for USD 56bln, WSJ reports.G10 mixed against the USD, JPY pares back towards 157 (vs 155.70 trough) with traders on intervention watch.Crude lifted on escalatory Iranian rhetoric and ahead of Trump's speech, energy gains dent XAU.Looking ahead, highlights include Global Manufacturing PMI Finals (Apr), US Factory Orders (Mar), and US President Trump. Speakers include Fed’s Williams, BoC’s Macklem and Rogers, ECB’s Cipollone, de Guindos. Earnings from Palantir, ONSemi, Pinterest, Norwegian Cruise Line, Tyson Foods. Holiday: UK May Bank Holiday.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump posted on Sunday that the US will guide neutral ships safely out of the Strait of Hormuz under “Project Freedom”, beginning Monday morning Middle East time.An Iranian official said any American interference in the new maritime regime of the Strait of Hormuz will be considered a violation of the ceasefire.US President Trump posted at 23:47 BST on May 2nd that he would review Iran’s proposal but “can’t imagine that it would be acceptable”, Trump added that Iran had “not yet paid a big enough price”.USD/JPY was volatile amid thin liquidity (Golden Week) and recent intervention speculation, with a sharp drop observed at 04:45 BST.European equity futures are indicative of a modestly firmer return from the long weekend, with the Euro Stoxx 50 future +0.2% after cash closed with gains of 1.1% last Thursday.Looking ahead, highlights include Global Manufacturing PMI Finals (Apr), US Factory Orders (Mar), and US President Trump. Speakers include Fed’s Williams, BoC’s Macklem and Rogers, ECB’s Cipollone, de Guindos. Earnings from Palantir, ONSemi, Pinterest, Norwegian Cruise Line, Tyson Foods. Holiday: UK May Bank Holiday.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Conditions in Europe thin amid Labour Day, FTSE 100 dragged by NatWest and AstraZeneca.US equity futures are modestly mixed. Apple (+2.8%) gains after strong results, driven by iPhone sales; SanDisk (-6.1%) dips despite a strong Q3 report.DXY is a touch lower; USD/JPY sank to a 155 handle, potentially on intervention.Fixed income futures are contained in limited conditions, with US data ahead.Crude futures remain elevated heading into another weekend of geopolitical risk.Looking ahead, highlights include US ISM Manufacturing (Apr), Speakers include BoE's Pill, Earnings from Chevron, Colgate, Exxon, Moderna, Estee Lauder.Holiday: Labour Day (Eurozone cash and derivatives closed).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said Iran is dying to make a deal and stated that Iran cannot be nuclear-armed. He added that he doesn't know if the ceasefire with Iran needs to be broken, but "we may do".The US may allow Israel to target Iran's energy facilities if negotiations fail, according to Channel 12 cited by Al Arabiya.Apple (AAPL) Q2 2026 (USD): EPS 2.01 (exp. 1.95), Revenue 111.2bln (exp. 109.45bln). Raised its dividend by 4% to USD 0.27/shr. Apple provided Q3 revenue growth guidance that beat estimates (+14-17% vs exp. +9%). Shares +2.4% after-market. Japan's Top FX Diplomat Mimura will not comment on intervention speculation and reiterated being in close contact and shares understanding with the US.Looking ahead, highlights include Global Manufacturing Final PMIs (Apr), US ISM Manufacturing (Apr), Speakers include BoE's Pill, Earnings from Chevron, Colgate, Exxon, Moderna, Estee Lauder & NatWest. Holiday: Labour Day (Eurozone cash and derivatives closed).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Trump has told officials to prepare for an extended blockade of Iran, WSJ; Trump said they are doing very well in the Middle East.An update that lifted energy briefly overnight and while the move pared into the European morning, benchmarks are at fresh highs with WTI peaking just below USD 104/bbl.The fresh energy highs have weighed on fixed, though only modestly pre-FOMC and with brief EGB respite on German state CPIs.USD lifts into the likely final Fed as Chair for Powell, AUD lags post-CPI, EUR briefly hit by German state CPIEnergy advances weigh on equity sentiment, numerous mega-cap earnings ahead, including AMZN, GOOG, META, MSFT & QCOMLooking ahead, highlights include US Durable Goods (Mar), US Housing Starts (Feb/Mar), Wholesale Inventories (Mar), Fed/BoC/BCB Policy Announcements (Apr), Speakers include BoC’s Macklem & Fed Chair Powell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Trump has told officials to prepare for an extended blockade of Iran, WSJ; Trump said they are doing very well in the Middle East.APAC equity performance incrementally improved across the session, with outperformance in the Hang Seng & Shanghai Composite.USD rangebound, lifted briefly on the WSJ report. Peers are broadly contained into the Fed.Fixed income was hit on the WSJ report, but has since retraced the move.Energy benchmarks jumped on the blockade update, but the move was relatively short-lived. Precious metals contained, base peers followed China higher.Looking ahead, highlights include Spanish HICP (Apr), German State/Nationwide HICP (Apr), EZ Economic Sentiment (Apr), US Durable Goods (Mar), US Housing Starts (Feb/Mar), Wholesale Inventories (Mar), Fed/BoC/BCB Policy Announcements (Apr), Speakers include BoC’s Macklem & Fed Chair Powell, Supply from Italy & Germany.Earnings from Microsoft, Amazon.com, Meta, Alphabet, Ford, Qualcomm, Carvana, SoFi, Humana, Novartis, TotalEnergies, Iberdrola, GSK, Lloyds, Deutsche Bank, Mercedes-Benz, Adidas & Porsche AG.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump is reportedly not satisfied with and is unlikely to accept the Iranian proposal; CNN reports that the US and Iran are not as far apart as they seem.BoJ maintained its policy rate as expected, though subject to a hawkish 6-3 vote split, dissenters highlighted upside risks to inflation. Ueda non-committal on the timing of the next move.European bourses firmer, lifting incrementally after a contained open. US futures are mixed/lower into earnings and after OpenAI missed internal targets.JPY led post-BoJ before retreating and weakening on Ueda, USD firmer to the modest detriment of peers across the board; base & precious metals hit.Energy bolstered by the overnight updates, and as Iran's Foreign Minister is not returning to Pakistan post-Russia.Fixed falters as energy climbs, Bunds hit by the latest ECB surveys, Gilts lag into the Privileges debate regarding PM Starmer.Looking ahead, highlights include US ADP Weekly Employment Change, US House Price Index (Feb), US CB Consumer Confidence (Apr), US Richmond Fed Index (Apr), US Dallas Fed Index (Apr), NBH Policy Announcement (Apr), and speakers include ECB President Lagarde, Supply from the US.Earnings from RobinHood, Bloom Energy, Visa, Booking.com, NXP Semiconductor, UPS, Coca-Cola, Spotify, General Motors, Centene.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump is reportedly not satisfied with and is unlikely to accept the Iranian proposal; CNN reports that the US and Iran are not as far apart as they seem.BoJ maintained its policy rate as expected, though subject to a hawkish 6-3 vote split, dissenters highlighted upside risks to inflation.APAC pressured after the reporting around Trump, Nikkei 225 underperformed after the BoJ's hawkish-hold.DXY initially contained but then ticked higher, JPY benefited from the BoJ; JGBs gapped lower, but the move retraced, USTs rangebound.Crude supported by the reporting from the Situation Room, metals hit by the risk tone, hawkish action, and USD gains.Looking ahead, highlights include Spanish Retail Sales (Mar), Italian PPI (Mar), US ADP Weekly Employment Change, US House Price Index (Feb), US CB Consumer Confidence (Apr), US Richmond Fed Index (Apr), US Dallas Fed Index (Apr), NBH Policy Announcement (Apr), Speakers include BoJ Governor Ueda and ECB President Lagarde, Supply from the Netherlands, UK and US.Earnings from RobinHood, Bloom Energy, Visa, Booking.com, NXP Semiconductor, UPS, Coca-Cola, Spotify, General Motors, Centene, Airbus, Air Liquide, BP & Barclays.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran communicated a three-stage negotiating process to the US; 1) focus on ending the war and receiving guarantees, 2) then on the Strait of Hormuz, 3) and finally on nuclear issues.The US cancelled sending Witkoff & Kushner to Pakistan, suggesting it was a waste of time; Trump is to hold a situation room meeting on Monday, Axios.European bourses are modestly mixed, with US equity futures also holding around the unchanged mark; Qualcomm +12% on reports of an OpenAI partnership.DXY trundles below technical support, Antipodeans outperform, and GBP unfazed by potential PM referral.Fixed falters slightly as energy climbs into a packed week.Crude prices gain amidst a lack of US-Iran progress, but with focus on a three-stage plan.Looking ahead, highlights include US Dallas Fed Manufacturing Index (Apr), Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran communicated a three-stage negotiating process to the US. The US cancelled sending Witkoff & Kushner to Pakistan; Trump to hold a situation room meeting on Monday, Axios.APAC stocks benefited from reporting around the Iranian communication, both European & US futures point to a contained open.DXY under pressure to the modest benefit of peers across the board, antipodeans lead after the Axios report.Fixed income softer but off the APAC low. China has reportedly delayed foreign bond sales.Crude peaked with gains in excess of USD 2/bbl as the US cancelled sending negotiators, then came off best following the Axios report.Looking ahead, highlights include German GfK Consumer Confidence (May), US Dallas Fed Manufacturing Index (Apr), Supply from the EU & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

"Israeli media: A limited operation against Iran may be carried out to avoid a prolonged war", Al Arabiya reports.Chinese Securities Regulator says that China is to allow qualified foreign investors to trade treasury futures from April 24, 2026, for hedging purposes only.Downbeat sentiment across European bourses, SAP +6% after a EUR 10bln share buyback; NQ outperforms, with INTC +23% post-earnings.FX price action lacklustre, CHF and JPY dodge intervention comments, UoM Final aheadFixed falters as energy climbs, Gilts lag again in catch-up trade and after further hawkish impetus into the BoE.Crude underpinned as eyes remain on US-Iran ceasefire heading into the weekend.Looking ahead, highlights include Canadian Retail Sales (Feb), US UoM Survey Final (Apr), CBR Policy Announcement (Apr).Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Israel is on high alert in anticipation of a possible renewed war this weekend, according to Al Arabiya, citing Channel 13.Speaker of the Iranian Parliament Ghalibaf resigns from the negotiating team following the intervention of the IRGC, N12 news reported.US President Trump said the US is to work with Lebanon to protect itself from Hezbollah and that the Israel-Lebanon ceasefire is to be extended by three weeks.NQ futures outperformed after Intel surged over 19% after-hours as the Co. provided a solid Q1 report while raising its guidance.US President Trump said the US will put a tariff on the UK if the digital service tax is not dropped.APAC stocks traded mostly in the red, ex. Nikkei 225; European equity futures are indicative of a softer open with the Euro Stoxx 50 futures -0.7%.Looking ahead, highlights include UK Retail Sales (Mar), German Ifo Survey (Apr), Canadian Retail Sales (Feb), US UoM Survey Final (Apr), CBR Policy Announcement (Apr), Speakers include SNB's Schlegel, Supply from Italy, Earnings from Procter & Gamble & Eni.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

"Somalia closes Bab al-Mandab Strait to Israeli shipping", IRNA reports; "The move comes as a direct response to Israel’s recognition of the breakaway region of Somaliland, Yemen Press Agency reported on Wednesday".European bourses are mostly lower; US equity futures also extend lower, TSLA -2.7% post-earnings.USD and NOK outperform, GBP shrugs off political instability as PMIs firm, NZD underperforms.EZ PMIs initially helped fixed income off lows, but an inflationary UK release sparked new lows.Geopolitics keeps crude prices underpinned and metals softer amid a firmer USD.Looking ahead, highlights include Global Flash PMIs (Apr), Mexican Inflation (Apr), Canadian PPI (Mar), US Jobless Claims (Apr/18). Supply from the US. Earnings from Blackstone, Freeport-McMoran, American Airlines, Keurig Dr Pepper, Intel, Lockheed Martin, and SAP.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump expects Iranian Foreign Minister Araghchi to remain part of Iran talks and said the 3-5 day ceasefire is not true, according to Fox.Iranian President Pezeshkian said Iran has welcomed dialogue and continues to do so, while he stated that a breach of commitments, blockade and threats are the main obstacles to genuine negotiations.Crude futures were higher but off today's best levels after an early aggressive move to the upside was faded shortly after, due to a lack of actual fresh drivers behind the initial move.APAC stocks were mostly negative; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 1.0%.Looking ahead, highlights include Global Flash PMIs (Apr), UK PSNB (Mar), French Business Confidence (Apr), Mexican Inflation (Apr), Canadian PPI (Mar), US Jobless Claims (Apr/18), and ECB Wage Tracker. Supply from the US. Earnings from Blackstone, Freeport-McMoran, American Airlines, Keurig Dr Pepper, Intel, Lockheed Martin, SAP, Safran, Sanofi, Vinci, and Orange.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump expects Iranian Foreign Minister Araghchi to remain part of Iran talks and said the 3-5 day ceasefire is not true, according to Fox.Iranian President Pezeshkian said Iran has welcomed dialogue and continues to do so, while he stated that a breach of commitments, blockade and threats are the main obstacles to genuine negotiations.Crude futures were higher but off today's best levels after an early aggressive move to the upside was faded shortly after, due to a lack of actual fresh drivers behind the initial move.APAC stocks were mostly negative; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 1.0%.Looking ahead, highlights include Global Flash PMIs (Apr), UK PSNB (Mar), French Business Confidence (Apr), Mexican Inflation (Apr), Canadian PPI (Mar), US Jobless Claims (Apr/18), and ECB Wage Tracker. Supply from the US. Earnings from Blackstone, Freeport-McMoran, American Airlines, Keurig Dr Pepper, Intel, Lockheed Martin, SAP, Safran, Sanofi, Vinci, and Orange.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the US have been asked to hold their attack on Iran until such time as its leaders and representatives can come up with a unified proposal.It was reported that Iran received 'some sign' the US is ready to break the blockade, spurring mild risk-on at the time.UKMTO reported two separate incidents near Oman and Iran, with the latter spurring upticks in the crude complex.European bourses opened higher but have since trundled lower, ASM International +8% after a strong Q1 and guidance; US equity futures gain.USD tracks oil prices, NZD repricing continues and Sterling unreactive to mostly in-line inflation data.Fixed income follows energy but is relatively contained thus far, Gilts marginally underperform.Looking ahead, highlights include EZ Consumer Confidence (Apr), CBRT Policy Announcement (Apr). Speakers include ECB’s Lagarde & Cipollone. Supply from US. Earnings from Vertiv, Boeing, GE Vernova, AT&T, Tesla, ServiceNow, IBM.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said the US have been asked to hold their attack on Iran until such time as its leaders and representatives can come up with a unified proposal.More recently, it was reported that Iran received 'some sign' the US is ready to break the blockade – a rise in sentiment was seen.UKMTO said it received information about an incident 15 nautical miles to the northeast of Oman in which a container vessel was approached by a single IRGC gunboat.European equity futures indicate a lower cash market open with Euro Stoxx 50 futures up 0.1% after the cash market closed with losses of 0.9% on Tuesday.Looking ahead, highlights include UK Inflation (Mar), South African Inflation (Mar), EZ Consumer Confidence (Apr), CBRT Policy Announcement (Apr), Bank of Indonesia Policy Announcement (Apr). Speakers include BoE’s Breeden, ECB’s Lagarde, Elderson, Lane & Cipollone. Supply from Germany & US. Earnings from Vertiv, Boeing, GE Vernova, AT&T, Tesla, ServiceNow, IBM, L'Oreal, Danone, Accor & Akzo Nobel.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

IRIB reported that no Iranian delegation, primary or secondary, have travelled to Islamabad and that reports about the departure of such officials and claims about meeting times were inaccurate.US VP Vance is expected to travel on Tuesday for talks, Trump says the deal will be far better than the JCPOA.Iranian officials told WaPo that they have largely agreed on the broad outlines of the agreement, and Pakistan sources also expect an agreement by Wednesday.Crude futures undecided amid delegation confusion.European bourses mixed, ABF LN confirms Primark demerger; US equity futures muted as AAPL announces CEO transition.DXY firms, NZD leads post-inflation data, GBP knocked by domestic politics.Fixed benchmarks mixed awaiting geopolitical updates, Gilts digest political turmoil.Looking ahead, highlights include US ADP Employment Change Weekly, Retail Sales (Mar), Pending Home Sales (Mar), Atlanta Fed GDP, Eurogroup Foreign Affairs Council (Apr), Senate Fed chair confirmation hearing for Warsh, Speakers including Fed's Waller. Earnings from UnitedHealth, GE Aerospace, United Airlines & ASM International.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US VP Vance is expected to travel on Tuesday for talks, Trump says the deal will be far better than the JCPOA.Iranian officials told WaPo that they have largely agreed on the broad outlines of the agreement, and Pakistan sources also expect an agreement by Wednesday.APAC stocks were mixed, but with some optimism from the above updates; however, reports that Iran may not attend prevented any significant move.USD posted mild gains, looking to the hearing for Fed Chair nominee Warsh today; FX peers rangebound, NZD leads after CPI.Crude under pressure given the mixed, but overall somewhat constructive, updates. Providing modest support to fixed income.Looking ahead, highlights include German/EZ ZEW Sentiment Index (Apr), UK Jobs Report (Feb), US ADP Employment Change Weekly, US Retail Sales (Mar), US Pending Home Sales (Mar), US Atlanta Fed GDP, Eurogroup Foreign Affairs Council (Apr), Senate Fed chair confirmation hearing for Warsh, Speakers including ECB’s de Guindos & Nagel, Fed's Waller, Supply from UK & Germany.Earnings from UnitedHealth, GE Aerospace, United Airlines, Thales, Vivendi & ASM International.Click for the Newsquawk Week Ahead.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran reversed the brief reopening of the Strait of Hormuz and said the waterway had returned to “strict control” after accusing the US of not meeting its obligations and refusing to lift the blockade on Iranian ports, with at least three attacks reported on commercial ships following the re-closure.Pakistan Army Chief Munir spoke to President Trump and told him that the Hormuz blockade is hurdle to talks, according to a Pakistani security source cited by Reuters; Trump reportedly told Munir that he would consider his advice.Energy futures rise as US-Iran tensions escalated over the weekend.European bourses slip; US equity futures pull back from ATHs, GOOGL in talks with MRVL on two AI chips.DXY muted amid light data/speaker slate; JPY unreactive to tsunami reports, GBP weathers noisy politics.Fixed income pressured on renewed geopolitical tensions; Gilts lag as Rayner and Burnham hold a secret meeting.Looking ahead, highlights include Canadian Inflation (Mar), New Zealand NZIER Business Confidence (Q1), New Zealand CPI (Q1), BoC SCE (Apr). Comments from ECB’s Lagarde. Earnings from Cleveland-Cliffs.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Iran reversed the brief reopening of the Strait of Hormuz and said the waterway had returned to “strict control” after accusing the US of not meeting its obligations.US President Trump posted on Sunday that “Iran decided to fire bullets yesterday in the Strait of Hormuz – A Total Violation of our Ceasefire Agreement!”, while Trump stated that his representatives are going to Islamabad and will be there on Monday evening for negotiations.US President Trump said that maybe he won’t extend the ceasefire if there is no deal by Wednesday, and will maintain the blockade on Iranian ports.A US senior official said that if there is no breakthrough soon, the Iran war could resume in the coming days, and that the situation with Iran is at a critical point.Crude futures surged at the reopen; APAC traded mostly firmer; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 1.3%.Looking highlights include German PPI (Mar), Canadian Inflation (Mar), New Zealand NZIER Business Confidence (Q1), New Zealand CPI (Q1), BoC SCE (Apr). Comments from ECB’s Lagarde. Earnings from Cleveland-Cliffs.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Israel and Lebanon 10-day ceasefire took effect from 17:00EDT on Thursday. Despite this, reports indicate that Israel bombed several villages in southern Lebanon after announcing the ceasefire agreement.US President Trump said the Iran war is going swimmingly and should be ending pretty soon, added going to see some incredible results.European bourses mixed; US equity futures remain near ATHs, NFLX slips after maintaining guidance and co-founder stepping down.DXY slightly softer, G10s mixed, GBP unreactive on UK politics.Global fixed benchmarks broadly unchanged awaiting Fed speak.Crude pressured despite light newsflow, Israel/Lebanon ceasefire shows fragility.Looking ahead, highlights include Canadian Housing Starts (Mar). Speakers include BoE's Pill, Fed’s Daly, Barkin & Waller. Earnings from State Street. Credit Reviews include Morningstar DBRS reviews credit rating on the EU and Italy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are making a lot of progress on Iran, and he is not sure the ceasefire needs to be extended, while he added that Iran is willing to do things today they previously weren't.US President Trump said he had excellent conversations with Lebanon’s President Aoun and Israeli PM Netanyahu, while he announced that the leaders agreed to formally begin a 10-day ceasefire from 17:00EDT on Thursday.Israeli security official said the military has no plans to withdraw forces from Southern Lebanon during a ceasefire.A source told Al-Mayadeen that starting Friday, at noon (10:00BST) anyone wishing to cross Bab al-Mandab should be more vigilant than ever before in all six directions, while other reports noted that the warning was made by a resistance commander.APAC stocks were mostly lower; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.2%.Looking ahead, highlights include Italian Balance of Trade (Feb), Canadian Housing Starts (Mar). Speakers include BoE's Breeden & Pill, Fed’s Daly, Barkin & Waller. Earnings from State Street. Credit Reviews include Morningstar DBRS reviews credit rating on the EU and Italy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The Trump administration's goal is to bring both sides to the brink of an overarching deal to end the conflict that can then be pushed over the finish line in a second face-to-face meeting.A military advisor to the Islamic Revolution Leader says Iranian Armed Forces’ launchers are ready to hit American warships and sink all of them, Press TV reported.European bourses printing mild gains, TSMC earnings lift the tech sector; US equity futures muted just shy of ATHs.DXY cautiously firms, JPY pares verbal intervention strength while GBP unreactive despite upside GDP surprise.Global benchmarks initially firmer, but hit as the risk tone deteriorated.Crude tilts higher as markets still await confirmation of any talks/ceasefire.Looking ahead, highlights include US Jobless Claims (Apr/11), Philly Fed Index (Apr), Industrial/Manufacturing Production (Mar), New Zealand Food Inflation (Mar), ECB Minutes (Mar). Speakers include Fed’s Williams & Miran, ECB’s Schnabel, Nagel & Lane, RBA’s Hunter & BoE’s Taylor. Earnings from Abbott, Charles Schwab, PepsiCo & Netflix.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The Trump administration's goal is to bring both sides to the brink of an overarching deal to end the conflict that can then be pushed over the finish line in a second face-to-face meeting.Iran could consider ships being able to sail through the Omani side of the Strait of Hormuz without interference or attack as part of a deal with the US.Iran and the Pakistani mediator will discuss details of the messages exchanged between Tehran and Washington today.Israeli officials said their assessment was that the ceasefire in Lebanon could begin within days; Lebanese officials said a ceasefire between Israel and Lebanon was expected 'soon'.APAC stocks mostly gained; European equity futures indicate a positive cash market open with Euro Stoxx 50 futures up 0.3%.Looking ahead, highlights include UK GDP (Feb), Industrial Production (Feb), Italian HICP Final (Mar), EZ HICP Final (Mar), US Jobless Claims (Apr/11), Philly Fed Index (Apr), Industrial/Manufacturing Production (Mar), New Zealand Food Inflation (Mar), ECB Minutes (Mar) & SNB Minutes (Mar). Speakers include Fed’s Williams & Miran, ECB’s Schnabel, Nagel & Lane, RBA’s Hunter & BoE’s Taylor. Supply from Spain, France & UK, Earnings from TSMC, Abbott, Charles Schwab, PepsiCo, Netflix, Tesco & Pernod Ricard.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

AP reported that effort to extend the US-Iran ceasefire has made progress with mediators aiming to extend for at least another two weeks. Both sides gave an “in principle agreement” to extend the ceasefire.The Pentagon is sending thousands of additional troops into the Middle East in the coming days, WaPo reported citing US officials. This move aims to pressure Iran while the US mulls the possibility of additional strikes or ground operations if the ceasefire breaks.European bourses mixed, Luxury suffers on KER FP and RMS FP while ASML raises FY guidance; US equity futures flat with Morgan Stanley and BofA ahead. DXY muted, GBP/USD retreats from 1.36 with UK GDP later in the week.Global fixed benchmarks trade cautiously awaiting President Trump and central bank speakers.Commodities tread water in anticipation of a second US-Iran meeting.Looking ahead, highlights include US Export/Import Prices (Mar), Fed Beige Book (Apr). Speakers include US President Trump, Fed’s Barr, Hammack & Bowman, ECB’s Lagarde, Cipollone, Nagel & Schnabel, BoE’s Bailey, Greene, SNB’s Schlegel, RBA’s Hauser & RBNZ's Breman. Earnings from Morgan Stanley and Bank of America.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said he views the war as being very close to over, according to Fox.US President Trump said he isn't thinking about extending the ceasefire and doesn't think it will be necessary, according to reports citing an ABC reporter on X.US Vice President JD Vance said they are negotiating with Iran and the ceasefire is holding, while he also stated Iranian negotiators wanted to make a deal, and he feels good about where they are.US President Trump's full interview on Fox Business will be aired on April 15th at 06:00EDT/11:00BST.APAC stocks were mostly higher; European equity futures indicate a slightly lower cash market open, with Euro Stoxx 50 futures down 0.1%Looking ahead, highlights include French HICP Final (Mar), EZ Industrial Production (Feb), US Export/Import Prices (Mar), Fed Beige Book (Apr). Speakers include Fed’s Barr & Bowman, ECB’s Lagarde, Cipollone & Schnabel, BoE’s Bailey, SNB’s Schlegel, RBA’s Hauser & RBNZ's Breman. Supply from Germany. Earnings from Morgan Stanley, Bank of America, and Hermes.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk