Morning Call Script - 18 Sept 2023
Overnight asset drivers + the impending data calendar
What's Moved:
Equities: APAC took its lead from Wall St and traded softly, whilst Evergrande shares dipped following reports that police have detained some Wealth Management employees (WSJ, BBG, Independent)
With limited data, and plenty of major CB events ahead this week (Fed, BoJ and BoE) it has been a quiet Wellington open with the USD broadly consolidating against the majors (EURUSD 1.0670, AUDUSD 0.6443, USDJPY 147.65 and GBPUSD 1.2395)
A podcast for the commute... Steno Research: Was that a pause from Lagarde?,
In the news over the weekend, Bloomberg focused on the Yuan carry trade (42% profit), Starmer wants to re-write the Brexit deal (FT), UAW Chief rejects 21% pay increase (BBG) and finally, US and China officials meet in Malta ahead of possible Biden-Xi summit (FT)
The Day Ahead:
EUR (10:00): ECB Guindos
CAD (13:30): PPI
USD (15:00): NAHB Housing Market
EUR (16:00): ECB Panetta
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