GS Morning: FX Trader Call UK CPI Recap USDJPY Intervention Hyperscaler Issuance and NVDA 1Q Preview

A multi-asset morning update covering UK inflation downside surprises, USDJPY intervention capacity estimated at $200bn, and a bullish 1Q preview for Nvidia with a $250 price target.

Key Takeaways

• 1.Nvidia is expected to report a $2bn revenue beat for 1Q, with Goldman Sachs' estimates for EPS 7-8% above consensus.
• 2.Japan's intervention capacity for USDJPY is estimated at approximately $200bn before necessitating the sale of US Treasuries.
• 3.UK CPI data surprised to the downside, specifically in services inflation (3.15% vs 3.5% consensus), posing downside risks to GBP.

Table of Contents

• 1) FX Trader Call Today @ 2:00 PM LDN
• 2) UK CPI Recap + GBP Thoughts
• 3) USDJPY Intervention -- Trade Ideas
• 4) FX SALES (DOOLING) – Hyperscaler Issuance: Big Enough to Impact the Duration and the USD?
• 5) EQUITY RESEARCH (SCHNEIDER) - NVDA 1Q Preview
• EQUITIES DELTA ONE TRADING (PRIVOROTSKY)

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