Morning Call Script - 01 May 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
Softer data from AUD and NZD overnight. Australia saw a marginal contraction in their manufacturing PMI (49.6 vs exp 49.9) whilst higher for longer RBNZ interest rates continue to soften the labour market.
Markets overnight pretty quiet with a bias for a stronger USD post hotter than expected ECI print....
Nikkei 38340, CSI 3605, Crude $81.10, Brent $85.60, Gold $2285, XBT 60k, EUR 1.0655, JPY 157.88, GBP 1.2475, AUD 0.6473, CNH 7.2500, 10s at 4.69%.
Holidays across continental Europe leaves the calendar relatively light in the morning until NY arrives when we will be hit with ADP, ISM, JOLTs and of course this evening's Fed.
Harkster Fed Preview - it's not in Powell's nature to out-hawk mkt expectations
Bloomberg - Traders Expect Biggest Fed-Day Move in S&P Since 2023, Citi Says
Watch out for Read on the Trading Floor, landing in the inbox of PRO subscribers around 17.30GMT (12.30EST).
This piece will focus on the key market narratives trending on Harkster.com. What users of our platform are consuming, what themes are top of mind and the key risk events they're researching. It will also document the top 10 links and podcasts consumed by our users over the previous day.
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Have a great day, and keep smiling!
Podcast for the Commute
The Day Ahead
GBP (09:30): Final S&P Manufacturing PMI
BoC's Macklem (13:15)
USD (13:15): ADP
USD (15:00): ISM
USD (15:00): JOLTs
USD (19:00): Fed Decision
USD (19:30): Fed Press Conf
Stay informed throughout the day with our new commentary channel (‘Intraday Market Colour’) highlighting key notes, topics du jour, and HarksterHQ’s market updates around key data points and headlines.
Available on the HarksterPRO Research Platform.
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