Morning Call Script - 04 Mar 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• New month, new inflows, bullish momentum into Nikkei, taking the index through 40k for the first time

  • Bloomberg - Japan’s Nikkei 225 Breaches Key 40,000 Level for First Time

  • Nikkei Asia - Japan's once-overlooked chip sector suppliers drive Nikkei rally

• Crude settled at $80, Brent @ $84 as OPEC+ extend supply cuts

  • Bloomberg - OPEC+ Extends Oil Cuts, With Russia Bolstering Its Effort

  • The NY Times - OPEC to Extend Oil Production Cuts Through June

• Elsewhere gold held on to Friday's gains 2081, 10s @ 4.20%, EUR 1.0845, GBP 1.2665, AUD 0.6520 and JPY 150.35.

• Finally, Hunt spent the weekend marketing his budget plans.

  • FT - Jeremy Hunt struggles to include big giveaways in his Budget

  • Bloomberg - UK Traders Are Wary That Hunt’s Budget Risks Revving Inflation

For greater details on the overnight news stories, current macro themes, and a comprehensive look at the week ahead, look out for today’s edition of The Morning Hark. Landing in the inbox of PRO subscribers around 7.15GMT (2.15 EST).

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Have a great day, and keep smiling!

Podcast for the Commute

• FT Swamp Notes - Biden and Trump's immigration duel

The Day Ahead

• CHF (07:30): CPI

• Fed's Harker at 16:00

• JPY (23:30): Tokyo CPI

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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The information provided in this post is for general information purposes only. No information, materials, services, and other content provided in this post constitute solicitation, recommendation, endorsement or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.