Morning Call Script - 07 Mar 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
JPY on the move, dipping through 149.00 as US 10s rally to 4.11% and expectations rise for a March BoJ hike (last 148.40)
Powell said the Fed can cut in 2024, Kashkari (non-voter) said he currently thinks there will be two rate cuts in 2024 but it maybe just one
China balance of trade 125bln vs exp 104bln. Exports 7.1% vs exp 1.9% (prior 2.3%), imports also higher at 3.5% vs exp 1.5% (prior 0.2%)
Markets - CSI 3533, Nikkei 39578, Crude 79.15, Brent 83.00, Gold 2150, EUR 1.0900, GBP 1.2740, AUD 0.6580, CNH 7.2110
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Have a great day, and keep smiling!
Podcast for the Commute
The Day Ahead
BoE's Benford (10:00)
MXN (12:00): Inflation
EUR (13:15): ECB
USD (13:30): Initial Claims
EUR (13:45): ECB Press Conf
Fed's Powell (15:00) and Mester (16:30)
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