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)

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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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