GS Morning: FX Trader Call, UK CPI, USDJPY Intervention, and NVIDIA Preview

The report highlights downside UK inflation surprises, potential yen intervention strategies, and a bullish outlook for NVIDIA's 1Q results. It also notes record-high debt issuance from tech hyperscalers impacting global markets.

Key Takeaways

• 1.UK CPI saw a downside surprise led by weaker services inflation (3.15% vs 3.5% consensus), posing downside risks to GBP.
• 2.Japanese authorities' commentary suggests potential USDJPY intervention; GS recommends buying 1-week ATM puts to play the downside.
• 3.NVIDIA is expected to deliver a $2bn revenue beat for 1Q, with GS estimates for EPS 7-8% above consensus.

Table of Contents

• FX Trader Call Today
• UK CPI Recap + GBP Thoughts
• USDJPY Intervention -- Trade Ideas
• FX SALES (DOOLING) – Hyperscaler Issuance
• EQUITY RESEARCH (SCHNEIDER) - NVDA 1Q Preview
• EQUITIES DELTA ONE TRADING (PRIVOROTSKY)

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