Morning Call Script - 12 Apr 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• USD holding onto its gains with USDJPY resting above 153.00 and EUR settling around 1.0700.

  • Market's overnight  - Nikkei 39600, CSI 3500, Crude $85.00, Brent $90.20, Gold $2385, XBT 71k, EUR 1.0710, JPY 153.20, GBP 1.2540, AUD 0.6525, CNH 7.2570, 10s at 4.57%

• BoK left rates unchanged at 3.5%

• Chinese trade data saw imports (3.5% vs exp 1.2%) and exports (7.1% vs exp -3%) beat expectations. 

• Iran to respond in an appropriate and limited way?

  • Axios - Iran signals it will limit response to Israel attack to avoid escalation

Look out for tomorrow’s concise weekend read, recapping what the street consumed over the week, which articles were of focus and which topics were researched. Macro narratives will be interwoven with recommended reading as well as “Top 10 reads of the past week” and "Top 5 podcasts of the past week". Landing in the inbox of PRO subscribers around lunchtime.

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Have a great day, and keep smiling!

Podcast for the Commute

• JPM - EM Fixed Income: Stepping Aside (Again)

The Day Ahead

• EUR (07:00): German Inflation Rate (MAR Final)

• SEK (07:00): CPIF MoM and Inflation rate

• GBP (07:00): GDP

• BoE speak - Greene (07:00)

• EUR (07:45): French Inflation Rate (MAR Final)

• ECB Speak - Elderson (12:00)

• USD (15:00): University of Michigan

• Fed Speak - Bostic (19:30) and Daly (20:30)  

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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