Morning Call Script - 18 Jan 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• Aussie employment data was softer than expected -65.1k vs forecast of 17.6k. This was underpinned by weakness in the full-time data... -106.6k drop vs prior gain of +57k

• Escalation of tensions in the middle east - US hit 14 more Houthi targets whilst the Pakistani military carried out strikes against militant hideouts in Iran

  • Reuters - U.S. lists Houthis as terrorists, rebels hit another US-operated ship

  • Bloomberg - Oil Advances as Twin Middle East Strikes Raise Escalation Risks

• "No victory yet" is the message from Lagarde and other global CB's... 

  • Reuters - ECB on track but job not done: Lagarde

• HSI touched a 14month low, CSI 5year low… Chinese stocks remain in a negative spiral…

  • Bloomberg - China Downplays Big Stimulus in 2024, Testing Investor Patience

  • Bloomberg - Hang Seng Index’s Worst Slump in 15 Months Has a Silver Lining

  • Bloomberg - That Thunder Out of China Is Loss of Confidence

  • FT - US Treasury team set for Beijing talks on economic co-operation

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Have a great day, and keep smiling!

Podcast for the Commute

• MS - Three Investment Themes for 2024 and Beyond

The Day Ahead

• SNB Speak: Jordan (10:30))

• EUR (12:30): ECB Dec minutes

• Fed Speak: Bostic (12:30)

• USD (13:30): Building permits and housing starts

• USD (13:30): Initial Claims

• ECB Speak: Lagarde (15:15)

• Auctions (18:00): 10year TIPS

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. 

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