Morning Call Script - 02 Jan 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
Mixed PMIs from APAC. Chinese Caixin PMI 50.8 vs exp 50.4 and Korea Mfg PMI 49.9 vs prior 50.0
FX in a holding pattern, natural bias for USD to drift stronger, away from Friday's WMR end of year closing levels. JPY 141.40, EUR 1.1030, AUD 0.6835 and CNH 7.1305.
Tsunami warnings have been downgraded in Japan but devastation and damage will be 'widespread' (Reuters, Al Jazeera)
Bitcoin breaches 45k as we approach ETF deadline day (Bloomberg)
Inflows to Fed's Reverse Repo facility exceeds $1trillion (Reuters)
Red Sea - Maersk initiated a 2day ban over New Year's following fresh tensions (Bloomberg)
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
JPM Asset Management - Eye on the Market Outlook for 2024: Pillow Talk
The Day Ahead
EUR (08:50): French Final Dec Mfg PMI
EUR (08:55): German Final Dec Mfg PMI
EUR (09:00): Eurozone Final Dec Mfg PMI
GBP (09:30): Final Dec Mfg PMI
CAD (14:30): Final Dec Mfg PMI
USD (14:45): Final Dec Mfg PMI
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.