Morning Call Script - 29 Jan 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
Red Sea... Biden vows to retaliate after the American causalities in Jordan
Mirroring moves that occurred in the West during the GFC, China tightens security lending to help shore up their embattled market. The short sale ban has supported Chinese stocks overnight (CSI 3315) which gave positive momentum to the rest of the region (Nikkei 36040). Another step in a coordinated attempt to support the market after the media reports of the prospect of a potential $278bln stabilisation fund as well as the 50bps RRR cut.
Haley is still in the race, committing to super Tuesday
Plenty of headlines but limited action - EUR 1.0845, AUD 0.6593, JPY 147.95, Crude $78.40, Brent $83.75, XBT $42.1k, US10s 4.13%
Corp T+2 day... watch for USD demand in between 12:00 and 16:00GMT
For greater details on the overnight news stories, current macro themes, and a comprehensive look at the week ahead, look out for today’s edition of The Morning Hark. Landing in the inbox of PRO subscribers around 7.15GMT (2.15 EST).
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Have a great day, and keep smiling!
Podcast for the Commute
Steno Research - Macro Sunday #34 - The Red Sea is WORSENING
The Day Ahead
SEK (07:00): GDP
ECB Speak (13:10): Luis de Guindos
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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