Morning Call Script - 02 Apr 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• Easter Monday saw better global data from China to the US

  • Chinese Caixin - 51.1 vs prior 50.9 and exp 51 

  • US ISM Manufacturing - 50.3 vs prior 47.8 and exp 48.4

  • India PMI - 59.1 vs prior 56.9 and exp 59.4 

• USDJPY remains sub 152.00 with market on intervention watch

  • Reuters - Japan warns of action against excessive yen volatility

• Could China cross the QE rubicon? 

  • Bloomberg - Xi’s Speech Suggests PBOC May Start Trading Government Bonds

  • FT - China’s factory activity adds to signs of recovery

• Markets - Nikkei 39825, CSI 3579, Crude 84.23, Brent 87.85, Gold 2255, XBT 66.7k, EUR 1.0735, JPY 151.77, GBP 1.2545, AUD 0.6490, CNH 7.2640, 10s at 4.31%

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Have a great day, and keep smiling!

Podcast for the Commute

• Blind Squirrel Macro - April Fool or a Hamlet Moment

The Day Ahead

• EUR (08:15): Spanish Manufacturing PMI

• EUR (08:50): French Manufacturing PMI

• EUR (08:55): German Manufacturing PMI

• EUR (09:00): Euozone Manufacturing PMI

• EUR (09:00): German regional CPI e.g. Baden Wuerttemberg, Bavaria etc

• GBP (09:30): Manufacturing PMI

• EUR (13:00): German Inflation

• USD (15:00): JOLTs 

• Fed's Bowman (15:10), Williams (17:00), Mester (17:05) and Daly (18:30)

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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