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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. 
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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money.
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Erik Schafhauser Zürich

Morning Brew February 27 2024

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Good Morning,

Tech remains strong given if slightly off the highs as traders try to decide what focus on next. Yesterday the Dow lost 0.15%, the S&P 500 0.4% and the Nasdaq 0.13%.

The USD Index fell to 103.70 while 10 Year yields are at 4.28. EURUSD is 1.0858 , GBPUSD 1.2690 and USDJPY 150.4 after a higher CPI in Japan.

Gold and Silver are 2033 and 22.60, Bitcoin jumped to 56k.

Headlines are:

  • Israel agrees to halt attacks during Ramadan
  • US is once again approaching the debt ceiling
  • Inflation in Japan 0.2% higher than expected
  • Macron did not rule out sending troops toUkraine.

 

Sentiment is a bit tricky to read ahead of the  US and EU inflation data on Thursday and Friday but I suggest to remain nimble and open minded.

We have two key articles to digest today by Peter and Kim:

Earnings Watch: Salesforce, Snowflake, and Leonardo
Technical Update - Nvidia: Buyers running out of steam? Or potential to much higher price levels? See here how and why?

Key Data:

Tuesday
- Data Japan CPI, US Durable Goods & Consumer Confidence
 - Earnings: Bank of Nova Scotia, Bank of Montreal, Sempra, Constellation Energy, Lowe's, Muenchener Rueck, AutoZone, American Electric Power

Wednesday
- Data Australia CPI, EU Consumer Confiddence,  US GDP
- Earnings: Oversea-Chinese Banking, Holcim, Royal Bank of Canada, TJX Cos, Salesforce, Snowake, Monster Beverage, Universal Music, Reckitt Benckiser

Thursday
- Data CH FX  Reserves, DE Unemployment Rate, US PCE, Initial Jobless claims 
- Earnings: Alimentation, Anheuser-Busch, CRH, NetEase, Dell Technologies, Autodesk, London Stock Exchange Group

Friday
- Data EU HICP  International PMI, NO Nonfarm Payroll

Expiries

Physically Settled Futures

FLGH4 will expire 27 Feb 2024 at 16:00 GMT
TTFMH4 will expire 27 Feb 2024 at 10:00 GMT
EMAH4 will expire 28 Feb 2024 at 10:00 GMT
TNH4 will expire 28 Feb 2024 at 10:00 GMT
UBH4 will expire 28 Feb 2024 at 10:00 GMT
XCH4 will expire 28 Feb 2024 at 10:00 GMT
XKH4 will expire 28 Feb 2024 at 10:00 GMT
XWH4 will expire 28 Feb 2024 at 10:00 GMT
Z3NH4 will expire 28 Feb 2024 at 10:00 GMT
HGH4 will expire 28 Feb 2024 at 16:00 GMT
SIH4 will expire 28 Feb 2024 at 16:00 GMT
ZBH4 will expire 28 Feb 2024 at 16:00 GMT
ZCH4 will expire 28 Feb 2024 at 16:00 GMT
ZLH4 will expire 28 Feb 2024 at 16:00 GMT
ZMH4 will expire 28 Feb 2024 at 16:00 GMT
ZNH4 will expire 28 Feb 2024 at 16:00 GMT
ZSH4 will expire 28 Feb 2024 at 16:00 GMT
ZWH4 will expire 28 Feb 2024 at 16:00 GMT
SBH4 will expire 29 Feb 2024 at 16:00 GMT

 

Expiring CFDs

COPPERUSMAR24 will expire on 27 Feb 2024 at 16:00 GMT
CORNMAR24 will expire on 27 Feb 2024 at 16:00 GMT
GASOLINEUSMAR24 will expire on 27 Feb 2024 at 16:00 GMT
HEATINGOILMAR24 will expire on 27 Feb 2024 at 16:00 GMT
SILVERMAR24 will expire 27 Feb 2024 at 16:00 GMT
SOYABEANSMAR24 will expire 27 Feb 2024 at 16:00 GMT
SOYABEANOILMAR24 will expire 27 Feb 2024 at 16:00 GMT
SOYABEANMEALMAR24 will expire 27 Feb 2024 at 16:00 GMT
SUGARNYMAR24 will expire 27 Feb 2024 at 16:00 GMT
WHEATMAR24 will expire 27 Feb 2024 at 16:00 GMT
OILUKAPR24 will expire 29 Feb 2024 at 16:00 GMT

Quarterly Outlook

01 /

  • Upending the global order at blinding speed

    Quarterly Outlook

    Upending the global order at blinding speed

    John J. Hardy

    Global Head of Macro Strategy

    We are witnessing a once-in-a-lifetime shredding of the global order. As the new order takes shape, ...
    Read full article
  • Equity outlook: The high cost of global fragmentation for US portfolios

    Quarterly Outlook

    Equity outlook: The high cost of global fragmentation for US portfolios

    Charu Chanana

    Chief Investment Strategist

    Read full article
  • Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Quarterly Outlook

    Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Jacob Falkencrone

    Global Head of Investment Strategy

    Read full article
  • Commodity Outlook: Commodities rally despite global uncertainty

    Quarterly Outlook

    Commodity Outlook: Commodities rally despite global uncertainty

    Ole Hansen

    Head of Commodity Strategy

    Read full article
  • Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    Quarterly Outlook

    Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    John J. Hardy

    Global Head of Macro Strategy

    Read full article
  • Equity Outlook: The ride just got rougher

    Quarterly Outlook

    Equity Outlook: The ride just got rougher

    Charu Chanana

    Chief Investment Strategist

    Read full article
  • China Outlook: The choice between retaliation or de-escalation

    Quarterly Outlook

    China Outlook: The choice between retaliation or de-escalation

    Charu Chanana

    Chief Investment Strategist

    Read full article
  • Commodity Outlook: A bumpy road ahead calls for diversification

    Quarterly Outlook

    Commodity Outlook: A bumpy road ahead calls for diversification

    Ole Hansen

    Head of Commodity Strategy

    Read full article
  • FX outlook: Tariffs drive USD strength, until...?

    Quarterly Outlook

    FX outlook: Tariffs drive USD strength, until...?

    John J. Hardy

    Global Head of Macro Strategy

    Read full article
  • Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Quarterly Outlook

    Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Althea Spinozzi

    Head of Fixed Income Strategy

    Read full article

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