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Morning Call Script - 16 Nov 2023
Overnight asset drivers & the impending data calendar
What’s Moved Overnight
Tough week, with one explosive move, if you didn't get on the US CPI print, you would have missed the only price displacement so far. APAC continued on from NY, as most FX pairs consolidated / ran out of steam with the USD inching back stronger after the better-than-expected US retail sales (control group 0.2%) .... EUR 1.0840, USDJPY 151.35, GBPUSD 1.2395, AUD 0.6480. Similarly, US fixed income rally has stalled... 2s 4.90%, 5s 4.49% and 10s around 4.50%.
APAC stocks mostly in the red Nikkei 33430 (-30bps), CSI 300 3583 (-65bps).
Senate passed the House funding bill... shutdown averted until Jan/Feb next year.
Xi - Biden... "constructive" talks. They agreed to restart high level military-military contact and had a keen focus on fentanyl production / counter narcotics.
Did you get invited for dinner? Beijing's effort to attract foreign capital?
For greater detail on the overnight moves as well as a focus on the day ahead see The Morning Hark in your inbox around 7.15GMT (2.15 EST) whilst watch out for Read on the Trading Floor around 17.30GMT (12.30EST).
Have a great day, and keep smiling!
Podcast for the Commute
HSBC EM Spotlight Series - Digital innovation in Markets
The Day Ahead
USD (13:30): Initial Claims
BoE's Ramsden (15:45)
ECB Speak: Lagarde (11:30) and de Guindos (14:15)
Fed Speak: Cook (11:00), Barr (12:10), Mester (13:30), Williams (14:25) & Waller (15:30).
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