Morning Call Script - 23 Nov 2023
Overnight asset drivers & the impending data calendar
What’s Moved Overnight
As one would expect, it's been a relatively quiet Thanksgiving session with mkt closures in Japan and of course the US.
USD was generally softer aided by a lower PBoC Yuan fix (7.1212 vs prev. 7.1254), and as a result USDCNH drifted lower to open the London session just above 7.1400.
Country Garden's Shares rallied over 10% as expectations grow that the distressed builder will make it onto a draft list of firms eligible for state aid.
Ahead of a wave of flash PMI's in Europe, Aussie PMI disappointed overnight - MFG 47.7 vs exp 48.2 but this had little impact on the antipodeans with NZDUSD +65bps to 0.6060 and AUDUSD following +40bps to 0.6565.
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
The Day Ahead
NOK (07:00): GDP
EUR (08:15): Services and Manufacturing PMI for France
EUR (08:30): Services and Manufacturing PMI for Germany
SEK (08:30): Riksbank
GBP (09:30): Services and Manufacturing PMI for UK
TRY (11:00): TCMB
EUR (12:30): ECB Minutes
ZAR (13:00): SARB Decision
ECB Speak: Schnabel (19:30)
JPY (23:30): CPI
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.
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