Morning Call Script - 22 Nov 2023
Overnight asset drivers & the impending data calendar
What’s Moved Overnight
Guess who's back, back again, Altman's back tell a friend ....
Nvidia - high bar of expectations heading into the print, has Nvidia softer in after hours trading despite beating expectations. Forecast is for stronger growth in RoW to offset the drop in sales to China
Four-day truce... release of 50 Israeli hostages, 150 Palestinians imprisoned in Israel and to allow humanitarian aid into Gaza
Binance chief steps down after a $4.3bln settlement... has the company got the funds to survive?
Fed Minutes - on hold unless there is a major inflation shock, board agreed rates to remain restrictive for some time
China is to target 4.5-5.5% growth for 2024
Quiet overnight session ahead of Thanksgiving ...
Fixed Income little changed US5s 4.43%, US10s 4.42%.
The FX majors are in a holding pattern with the USD taking back some ground it lost earlier in the week... EUR 1.0900, JPY 149.00, GBP 1.2515, AUD 0.6530, CAD 1.3725 and CNH 7.1525
Asian Equities were weaker led by CSI down 80bps to 3553.
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 around 17.30GMT (12.30EST) which captures the macro themes trending on Harkster.com over the past 24hrs.
Have a great day, and keep smiling!
Podcast for the Commute
UBS On Air - Paul Donovan Daily Audio 'Fiscal fun and freezes'
The Day Ahead
GBP (12:00): UK Autumn Statement
USD (12:00): 30-year Mortgage Rate
USD (13:30): Durable Goods
USD (13:30): Initial Claims
USD (15:00): Michigan Consumer Sentiment
RBA Speak: Bullock (08:35)
ECB Speak: Elderson (14:10)
BoC Speak: Macklem (16:45)
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.
Available on the Harkster Research Platform.
ㅤㅤㅤ
The information provided in this post is for general information purposes only. No information, materials, services, and other content provided in this post constitute solicitation, recommendation, endorsement or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.