Morning Call Script - 30 Oct 2023

Overnight asset drivers & the impending data calendar

What’s Moved Overnight

• A quiet Wellington open, FX within 15 to 25bps of Friday's close... EUR 1.0560, JPY 149.60, GBP 1.2120, AUD 0.6355 and CAD 1.3860

• There was no top tier data, Aussie retail sales did beat 0.9% vs exp 0.3%. 

• 10yr US futures were contained 4.87%, Asian equities mixed with a small upward bias from Chinese stocks. 

• Blinken and Yi met, as work towards the Nov Biden/Xi summit continues.. 

  • Reuters - US, China agree to work toward an expected Biden-Xi summit

• Finally, oil futures are down 1%, reversing Friday’s move despite Israeli’s ground offensive into northern Gaza

  • Reuters - Fierce clashes in Gaza as Israeli forces expand ground offensive

Have a great day, and keep smiling!

Podcast for the Commute

• DB - A busy week on the macro side

The Day Ahead

• EUR (07:30): Regional German CPI starts with North Rhine

• EUR (09:00): Spanish Inflation

• EUR (10:00): German GDP

• GBP (10:30): UK Consumer Credit and Mortgage Approvals

• EUR (11:00): Eurozone consumer sentiment and inflation expectations

• EUR (11:00): Saxony CPI

• EUR (14:00): ECB Guindos

• EUR (14:00): German Inflation Rate

• USD (15:30): Dallas Fed Manufacturing Index

• CAD (20:30): BoC Gov Macklem  

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.

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