Erik Erik Erik

Morning Brew December 30 2021

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Year winding down with TRY under pressure again


Good morning,

Please find the trading schedule for the New Year here

US Blue Chip Indexes closed at records yesterday, but on small moves and low volume, the year end slowdown is in full swing. The Dow gained 0.25%, the S&P 0.14% an the Nasdaq fell by 0.1%. Most important news for traders was that Elon Musk stated he had exercised his stock options expiring in 2022.

China Evergrande fell app 10% after reportedly missing a further coupon payment.

The USD weakened yesterday, the trade-weighted Index fell from 96.40 to 95.75 only to recover to 96.05, EURUSD is trading at 1.1320 and GBPUSD at 1.3477. TRY is under pressure again, falling to more than 13 Lira to the dollar, a 5% move. The US Goods Trade Deficit rose to a record in November by 17.5% to USD 97.8 billion from USD83.2 billion.

Gold remains near 1800 after the worst performing year in 6 and Silver fell to 22.60.

Bitcoin lost 1% over night to 46700, and is near support on the descending trendline from November, The Author of “The Black Swan” Nassim Taleb published a research paper arguing that Bitcoin was worthless.

US 10 year yields rose to 1.5450 and German Bond Futures traded lower, the 30 year is not at 207.50 after a December high at 219.7.

European Gas and electricity prices stabilized after the strong sell offs.

Todays Agenda is rather thin with the Swiss KOF Indicator at 9:00, US employment data at 14:30 and the Chicago PMI at 15:45.

 

Transaction Tax in Hong Kong

From Jan 1 a Transaction Levy of at 0.00015% per side is charged, rounded to 1 Cent.

HKEX notice:

https://www.hkex.com.hk/-/media/HKEX-Market/Services/Circulars-and-Notices/Participant-and-Members-Circulars/SEHK/2021/ce_SEHK_CT_086_2021.pdf

Expiries
Physically Settled Futures:

HGF2, RRF2, SILF2, XKF2, ZLF2, ZMF2 and ZSF2 will expire 30th December 2021 at 16:00 GMT. RBF2 will expire 31st December 2021 at 16:00 GMT. WMF2 will expire 4th January 2022 at 01:00 GMT.

Expiring CFDs:

OILUKFEB22 will expire 30th December 2021 at 16:00 GMT.  GASOILUKJAN22 will expire 10th January 2022 at 16:00 GMT.

Have a great start into 2022!

 

Disclaimer

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 (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/disclaimer)

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

Contact Saxo

Select region

International
International

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.