Morning Call Script - 08 Jan 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
A 20bps “drop” in USDJPY (144.35) the highlight of the overnight FX session. Post ISM/NFP and pre-US CPI, the bar to trading is high as we tentatively enter the new trading year. (EUR 1.0940, GBP 1.2710, AUD 0.6705 and CNH 7.1665).
Similarly, US10s 4.05%, just a spread wider than Friday's close.
With Tokyo out for a bank holiday, Asian stocks led lower by the Chinese complex, CSI 300 is down a further 1.25%.
Oil dropped over 1.2% (Crude $72.70 and Brent $77.80) as Saudi Arabia released a price drop for Arab Light
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
The Day Ahead
EUR (07:00): German Factory Orders
CHF (07:30): CPI
EUR (10:00): Retail Sales
EUR (10:00): Consumer Inflation Expectations
USD (10:00): Consumer Inflation Expectations
Fed Speak: Bostic (17:30)
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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