Discover more from HarksterPRO
Morning Call Script - 25 Sept 2023
Overnight asset drivers & the impending data calendar
China: Evergrande shares are down over 20% as the developers' $35bln debt restructuring plans have run into a roadblock. An investigation into one of its domestic subsidiaries will stop it from accessing debt markets until it is resolved (Bloomberg, Reuters).
North America labour force: Hollywood writers have reached an agreement (WSJ), Ford and their Canadian workers have also agreed on a 15% - 25% rise (Fortune) ... but it's not all good news as UAW strikes are set to widen. Biden (Tuesday) and Trump (Wednesday) are expected to meet strikers in Michigan (WSJ).
FX: USDJPY (148.35) grinding towards 150.00, and it is a grind, momentum most certainly slowing in the pair, indication of how verbal intervention can work to slow deprecation. Elsewhere FX was relatively contained on the Wellington open, EURUSD 1.0645, GBPUSD 1.2240, AUDUSD 0.6425 and USDCAD 1.3485.
A podcast for the commute... SCMP Podcast Series: Biden's chokepoint China tech policy
EUR (09:00): IFO
EUR (14:00): ECB Lagarde, Villeroy and Schnabel
USD (23:00): Fed's Kashkari
Stay informed throughout the day with our new commentary feed (‘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.
Subscribe to our [FREE] concise read for the daily commute summarising the overnight asset drivers. Used by 15k+ people to start their day!
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.