Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew December 22021

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Risk sentiment if fighting back

Good morning,

Please find the trading schedule for Christmas and the New Year here

Markets saw a strong reversal yesterday, proving the year will remain interesting. Indexes soared ad closed up 1.6% in case of the Dow, 1.8 the S&P 500 and the Nasdaq 2.4%. Megatech rose with Tesla +4.3%, Amazon +2%, Nvidia 4.9%.  Apple gained 2% but needs a few good days this year to breach the 3 trio USD in market cap. Nike gained 6% on strong results. After the rise yesterday, the Dax future is trading spot on the 200d Moving average and has the day to decide. The S&P 500 closed above initial resistance at 4630 opening the chance for a year end rally.

US 10 Year yield rose to almost 1.5% yesterday before falling to 1.46, the German 30 yield turned positive again yesterday to reach 0.069. The 200d MA is 0.19%

The USD Index gained a little ground yesterday to 96.50, the EURUSD falls to 1.1270 GBPUS trades at 1.3250, gold 1787 and silver 22.45. The Turkish Lira stabilized near 12 against the USD.

Japan plans the largest Budget in history for fiscal 2022, USDJPY can gain to 114.

Bitcoin is approaching the 50.000 again, now trading just at the key initial resistance at the trendline from November to now. If it makes the break, 41k and 54k would be the next levels to watch.
In Europe, energy prices continue to rise , the March 2022 Baseload closed above 400 per Megawatt, Natural Gas at a high.

It seems overall the market sentiment into year end is quite positive as long there are no really striking bad news. There is certainly enough potential to scare off investors starting with Omicron, the looming conflict n Ukraine, US Politics and not least inflation.

Events today are UK GDP at 8:00 CET this morning and the US GDP, the Final PCE at 14:30 and Consumer Confidence at 16:00. Tomorrow German Import Prices and the Spanish GDP are on the agenda.

I will be off from this afternoon until the 29th of December and wish you all great holidays and safe travels.



The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (
Full disclaimer (
Full disclaimer (

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15

Contact Saxo

Select region


Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.