Morning Call Script - 15 Mar 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• Weaker Asian equities, following the moves from wall street post hotter PPI - Nikkei 38657 and CSI 3559.

• BoJ watchers are still awaiting the RENGO wage announcement 

  • Reuters - Japan unions will unveil results of wage talks, presaging shift at central bank

• PBoC left the 1-Year MLF rate at 2.5% and net drained 94bln yuan

  • Bloomberg - China Drains Cash Via Key Funding Tool for First Time Since 2022

• Crude $81.15 and Brent $85.30 are stabilizing and consolidating yesterdays gains

• Sunak has ruled out a May election

  • Bloomberg - Sunak Rules Out May 2 UK Election, Vote Likely Later in Year

• Another quiet overnight session, with the USD holding onto its post PPI gains -  Gold 2167, XBT 68.4k, EUR 1.0877, GBP 1.2737, AUD 0.6565, CNH 7.2035, JPY 148.30, 10s at 4.28%.

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

• MS - Economics Roundtable: Updating our 2024 Outlook

The Day Ahead

• EUR (07:45): French Feb Inflation Rate

• EUR (09:00): Italian Feb Inflation Rate

• USD (12:30): NY Empire Mfg Index

• USD (13:15): Industrial Production

• USD (14:00): University of Michigan Inflation Expectations

• ECB Lane (14:30)

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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