Morning Call Script - 04 June 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• Positivity continues into the Asian session    

  • Nikkei 38820, CSI 3600, Crude $73.50, Brent $77.70, Gold $2348, XBT 69125, ETH 3770, EUR 1.0910, GBP 1.2810, AUD 0.6680, JPY 156.18, CNH 7.2570, US2s at 4.83% and US10s at 4.41%.

• Reform vs Conservatives, Farage vs Rishi, Labour are just sitting back and watching the right carve up their voter base. This election has turned into who will be the biggest opposition party in early July, not who will be the next PM. 

  • Bloomberg - Nigel Farage Barrels Into UK Campaign as Sunak Faces First Debate Against Starmer

• After the initial shock from early counting, all has settled in India. Modi is now projected to earn a two thirds majority. 

  • Reuters - Modi's alliance dominates early in India election vote count, but opposition also gains

  • FT - Indian markets hit record highs as exit polls forecast Modi victory

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Have a great day, and keep smiling!

Podcast for the Commute

• The Rest is Politics - The return of Nigel Farage: does it matter?

The Day Ahead

• EUR (08:55): German UER

• CHF (07:30): Swiss CPI

• USD (15:00): JOLTS and factory orders

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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