Morning Call Script - 09 Jan 2024

Overnight asset drivers & the impending data calendar

You can manage your preferences here if you would like to receive only certain newsletters.

What’s Moved Overnight

• Wall Street closed stronger led by Nasdaq (Logan/Bowman comments + lower NY Fed inflation expectations survey) which left a positive tone for Asian stocks (Nikkei +80bps). 

  • Reuters - US consumers see smaller inflation gains ahead, New York Fed says

• This also fed through into a softer USD bias / drift overnight - EUR 1.0955, GBP 1.2745, AUD 0.6710 and JPY 143.90

• Tokyo CPI (which leads national CPI) came in on the screws at 2.1% YoY vs exp 2.1% and prior 2.3%

• Bowman remains cautious but wasn't as hawkish as she's been in Q4 whilst Bostic repeated his 2*25bps cut forecast

  • Fed's Bowman - New Year’s Resolutions for Bank Regulatory Policymakers

  • Bloomberg - Fed’s Bowman Backs Eventual Rate Cuts If Inflation Falls Further

  • Fed's Bostic - Atlanta Fed's Bostic says bias remains for policy to stay tight

Stream your favourite financial content into your own custom research dashboard, including bank publications, independent research, podcasts, financial press and more. - "It's like Tweetdeck for financial research".

HarksterPRO includes complimentary access to the PRO tier of our research management platform. Try the basic version out for FREE here.

Have a great day, and keep smiling!

Podcast for the Commute

• WSJ - A Messy Start to the 2024 Presidential Election

The Day Ahead

• EUR (07:00): German IP MoM 

• EUR (10:00): Eurozone UER

• USD (11:00): NFIB Business Optimism 

• CAD (13:30): Balance of Trade

• USD (13:30): Balance of Trade

• MXN (12:00): Inflation Rate

• Fed Speak: Barr (17:00)

• ECB Speak: Villeroy (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.

ㅤㅤㅤ

 

 

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.