Morning Call Script - 27 Mar 2024

Overnight asset drivers & the impending data calendar

HarksterPro will be taking a holiday break from Friday, March 29th through Monday, April 1st. Normal service will return Tuesday, April 2nd.

What’s Moved Overnight

• USDJPY nudging towards 152.00 as Japanese year end flows dominate. This is the weakest JPY level for over 3 decades so naturally the mkt is on "intervention" watch as authorities work through their rhetoric regime

  • Bloomberg - BOJ Hawkish Member Eyes Steady Japan Interest Rate Hikes

  • Nikkei Asia - Japanese yen drops to lowest in 34 years despite BOJ rate hike

• CNY fix and the lack of transparency is dominating APAC mkt's.

  • Bloomberg - PBOC Chief Seeks to Deepen Currency Ties With Asian Economies

  • Bloomberg - Yuan (CNY USD) Traders Stumped as China’s Key Daily Fixing Signal Clouds Over

• Aussie Monthly CPI Indicator 3.4% vs exp 3.5%... 2year low for 3^rd month in a row

• Elsewhere, a quiet overnight session as the mkt can't break these short-term narrow ranges.

  • Nikkei 40677, CSI 3535, Crude 81.00, Brent 85.50, Gold 2180, XBT 70.4k, EUR 1.0830, JPY 151.70, GBP 1.2620, AUD 0.6530, CNH 7.2545, 10s at 4.23%

• Press focused on the tragic events in Baltimore. 

  • Axios - What to know about the ripple effects of the Baltimore bridge collapse

  • Bloomberg - Baltimore Key Bridge Collapse: The Supply Chain Impact on Ports, Trucks, Ships

  • Axios - How Francis Scott Key Bridge collapse became a target of conspiracy theorists

  • Odd Lots - Sal Mercogliano on the Baltimore Bridge Collapse

Watch out for Read on the Trading Floor, landing in the inbox of PRO subscribers around 17.30GMT (12.30EST).

This piece will focus on the key market narratives trending on Harkster.com. What users of our platform are consuming, what themes are top of mind and the key risk events they're researching. It will also document the top 10 links and podcasts consumed by our users over the previous day.

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Have a great day, and keep smiling!

Podcast for the Commute

• UBS CIO - How to navigate all-time highs?

The Day Ahead

• EUR (08:00): Spanish CPI

• ECB's Cipollone (09:00)

• EUR (10:00): Consumer Inflation Expectations

• ZAR (13:00): SARB Rate Decision

• USD (17:00): 7yr auction 

• Fed's Waller (22:00)

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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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.