Morning Call Script - 26 Jan 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
A lack of material drivers overnight leaves us with another quiet APAC session
Tokyo CPI - lower core (1.6% vs exp 1.9%) keeps the pressure off the BOJ. Nothing is expected now until their new financial yr, see if the wage agreements feed into price pressures in April and May.
UK consumer confidence continues its recovery as households feel inflation “slowing”
EUR still on the lows 1.0840, JPY 147.85, GBP 1.2700. Oil is consolidating at a higher clearing rate (Brent $77, Crude $82) and US10s 4.10% ahead of US PCE. This is the last key data that could trigger a material FX / Fixed Income move this week.... will it demonstrate Goldilocks / no landing scenario for the US?
Look out for tomorrow’s concise weekend read, recapping what the street consumed over the week, which articles were of focus and which topics were researched. Macro narratives will be interwoven with recommended reading as well as “Top 10 reads of the past week” and "Top 5 podcasts of the past week". Landing in the inbox of PRO subscribers around lunchtime.
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Have a great day, and keep smiling!
Podcast for the Commute
The Day Ahead
SEK (07:00): UER
EUR (09:00): ECB Survey of Professional Forecasters
USD (13:30): CORE PCE
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 HarksterPRO Research Platform.
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