Morning Call Script - 10 Apr 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• RBNZ unchanged, restrictive policy to be maintained. OCR looks set to stay at 5.5% over 2024. NZD +50bps to 0.6080

  • Bloomberg - RBNZ Holds Interest Rates, Sees Ongoing Need for Tight New Zealand Policy

  • Westpac - RBNZ April 2024 Monetary Policy Review

• Fitch cuts China outlook to negative on steady rise in debt. 

  • Fitch - Revises Outlook on China to Negative; Affirms at 'A+

• Market's overnight - Nikkei 39626, CSI 3505, Crude $85.30, Brent $89.50, Gold $2360, XBT 69.2k, EUR 1.0855, JPY 151.80, GBP 1.2680, AUD 0.6625, CNH 7.2385, 10s at 4.36%

• Finally something on the calendar!!! It feels like this year we're always waiting for the next event that matters but ultimately it never breaks us out of these FX moribound ranges. Let's hope today delivers!

Watch out for Read on the Trading Floor, landing in the inbox of PRO subscribers around 17.30GMT (12.30EST).

This piece will focus on the key market narratives trending on Harkster.com. What users of our platform are consuming, what themes are top of mind and the key risk events they're researching. It will also document the top 10 links and podcasts consumed by our users over the previous day.

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Have a great day, and keep smiling!

Podcast for the Commute

• MS Thoughts on the Market - What is Driving Big Moves in the Oil Market?

The Day Ahead

• USD (13:30): US CPI

• USD (13:45): Fed's Bowman

• CAD (14:45): BoC MPR

• CAD (15:30): BoC Press Conf

• USD (18:00): 10s Auction

• USD (19:00): Fed Minutes

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.