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Morning Call Script - 17 Nov 2023
Overnight asset drivers & the impending data calendar
What’s Moved Overnight
Brent found support overnight $76/77 after breaking $80 yesterday. Lagarde/Bailey/Powell will be overjoyed, probably dancing around their Xmas trees as input price pressures subside globally. We're now $20 off the Sept peak.... OPEC Nov 26th next crucial date.
FX - Quiet APAC session, EUR 1.0850, JPY 150.60, AUD 0.6470 and GBP 1.2415
US2s 4.85%, US10s 4.45%... rising continuing claims, Walmart expecting price/margin compression over the holidays and the market is now pricing a 35% chance of a cut by the Fed in March
For greater detail on the overnight news stories as well as a focus on the day ahead see The Morning Hark in your inbox around 7.15GMT (2.15 EST) whilst also watch out for Read on the Trading Floor, capturing the macro themes of the day trending on Harkster.com by 17.30GMT (12.30EST).
Have a great day, and keep smiling!
Podcast for the Commute
The Rest Is Politics: What makes the Tory right so powerful?
The Day Ahead
GBP (07:00) UK Retail sales
EUR (10:00): Final CPI
USD (13:30): Building Permits and US Housing Starts
ECB Speak De Cos (08:00), Lagarde (08:30), Holzmann (11:00), Bundesbank's Nagel (13:00)
BoE Speak: Ramsden (13:10) and Greene (13:15)
Fed Speak: Barr (13:45), Collins (13:45), Goolsbee (14:45) and Daly (15:00)
Stay informed throughout the day with our new commentary feed (‘Intraday Market Colour’) highlighting key notes, topics du jour, and HarksterHQ’s market updates around key data points and headlines.
Available on the Harkster Research Platform.
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