Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew February 22 2022

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Ukraine Escalation Drives Risk Off Sentiment


Good Morning,

Vladimir Putin on Monday formally recognized two  regions in eastern Ukraine and ordered troops to enter them, Reuters reports tanks moving into Donezk. The US said to be imposing sanctions on Russia for” this clear violation of international law and Ukraine sovereignty and territorial integrity," Linda Thomas-Greenfield, U.S. ambassador to the United Nations, stated.

Risk off sentiment is the key sentiment with Indexes falling severely. Dax drops to 14450, the Nasdaq below 14k at 13700 , the US500 4280 and the Dow to 33600.

Gold and Silver gain to 1911 and 24.20, EURCHF falls to 1.0350 and the yen also gains.

Ruble falls to 80 and Russian stocks drop on the expectation of sanctions if not war, Oil gains app. 2%, the Dutch TTF Gas contract adds more than 10%.

EURUSD drops to 1.1290, GBPUSD to 1.3580. Bitcoin falls to 36600

Besides the Ukraine, the key piece of news yesterday was the German producer price at 214.2%, the highest since the inception of the D-Mark

Be extremely cautious today the market is likely to move fast on any news either direction. We can also soon expect comments out oaf central banks on any measures to calm markets or price reactions on the back of the Ukraine conflict.

Expiries

Physically Settled Futures:

RCH2 will expire 22nd February at 10:00 GMT

CLH2 will expire 22nd February at 16:00 GMT

CGBH2 will expire 24th February at 16:00 GMT

 

Expiring CFDs:

NATGASUSMAR22 will expire 22nd February at 16:00 GMT

SUGARNYMAR22 will expire 24th February at 16:00 GMT

Key Events this Week:

Tuesday: German IFO, US PMI

Wednesday: EU HICP

Thursday: US GDP New Home Sales

Friday: German GDP, EU Consumer Confidence, Durable Goods Orders

Earnings:

Tuesday: HSBC, Home Depot

Wednesday: Rio Tinto, Iberdrola, Stellantis

Thursday: Safran,  Anheuser Bush Inbev, Axa, Deutsche Telekom, Royal Bank oc Canada. Alibaba, Moderna, Newmont Mining

Friday: BASF

Saturday: Berkershire Hathaway. 

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.