Erik Schafhauser Zürich

Morning BrewAugust 18 2021

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  USD Gains on New Zealand Lockdown


Good Morning,

After disappointing retail sales, Wallstreet actually had a down day with all three indexes closing lower. Retail sales were releases at -1.1 vs -0.3% expected. Industrial Production could surprise to the upside though.

The USD gained significantly but is seems the cause was more covid fears and flight to safety than the rate outlook. EURUSD traded at 1.1701, a new year’s low and the USD Index gained to 93.10, the years high is 93.43. The Kiwi came under pressure after a 4 day lockdown was put in place and the central bank delayed a rate hike. Corona cases in China slide, giving some support to Asian shares.

Gold, Silver and Bitcoin were quite resilient, only suffering minor losses at the end of the day. At the moment Gold trades 1789, Silver 23.76 and Bitcoin 45320. EURUSD is at 1.1715 and GBPUSD 1.3740. NZDUSD fell to 0.6925 after 0.70 only yesterday morning. Gold needs a close above 1800 and Silver 24 for any further relief.

The agenda of economic events is fairly empty of really major events, Corona and any comments ahead of Jackson Hole should be key, Nvidia will report numbers after the bell.

Local Start Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

18 Aug 2021

08:00

United Kingdom

CPI YY

Jul

2.3%

18 Aug 2021

08:00

United Kingdom

RPI YY

Jul

3.7%

18 Aug 2021

08:00

United Kingdom

PPI Input Prices YY NSA

Jul

18 Aug 2021

11:00

Euro Zone

HICP Final YY

Jul

2.2%

18 Aug 2021

14:30

United States

Building Permits: Number

Jul

1.610M

18 Aug 2021

14:30

Canada

CPI Inflation YY

Jul

3.4%

18 Aug 2021

14:30

Canada

CPI BoC Core YY

Jul

19 Aug 2021

03:30

Australia

Employment

Jul

-46.2k

19 Aug 2021

03:30

Australia

Unemployment Rate

Jul

5.0%

19 Aug 2021

10:00

Norway

Key Policy Rate

19 Aug

0.00%

19 Aug 2021

14:30

United States

Initial Jobless Clm

14 Aug, w/e

360k

19 Aug 2021

14:30

United States

Cont Jobless Clm

7 Aug, w/e

2.800M

19 Aug 2021

14:30

United States

Philly Fed Business Indx

Aug

25.0

20 Aug 2021

01:01

United Kingdom

GfK Consumer Confidence

Aug

-7

20 Aug 2021

01:30

Japan

CPI, Core Nationwide YY

Jul

-0.4%

20 Aug 2021

08:00

Germany

Producer Prices MM

Jul

0.8%

20 Aug 2021

08:00

United Kingdom

Retail Sales MM

Jul

0.5%

20 Aug 2021

08:00

Norway

GDP Growth

Q2

20 Aug 2021

14:30

Canada

Retail Sales MM

Jun

4.4%

23 Aug 2021

01:00

Australia

Comp PMI Flash

Aug

23 Aug 2021

02:30

Japan

Jibun Bank Mfg PMI Flash

Aug

23 Aug 2021

08:00

Denmark

Consumer Confidence

Aug

23 Aug 2021

09:15

France

Markit Comp Flash PMI

Aug

23 Aug 2021

09:30

Germany

Markit Comp Flash PMI

Aug

23 Aug 2021

10:00

Euro Zone

Markit Comp Flash PMI

Aug

23 Aug 2021

10:30

United Kingdom

Flash Composite PMI

Aug

23 Aug 2021

12:00

United Kingdom

CBI Trends - Orders

Aug

23 Aug 2021

15:45

United States

Markit Comp Flash PMI

Aug

23 Aug 2021

15:45

United States

Markit Mfg PMI Flash

Aug

23 Aug 2021

16:00

United States

Existing Home Sales

Jul

5.85M

23 Aug 2021

16:00

Euro Zone

Consumer Confid. Flash

Aug

(Refinitiv)

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