Senior Relationship Manager
Summary: Massive Moves ahead of the Non Farm Payroll
Good Morning,
Equities rose on dovish ECB and BoE while both Euro and the Pound lost value – Boosting the Dollar.
The GER40 is trading at 15470 after topping 15500, the US500 is at 4150, US 30 34030and the US Tech 100 at 12600.
All big three, Apple, Amazon as well as Alphabet fell short of expectations and shares dropped after the bell. Apple and Alphabet fell more than 3% and Amazon more than 4%.
Gold and Silver fell to where we were just ahead of the FOMC, both failing to break their respective resistance at 1960 and 24.50 – Now 23.50 and 1916. EURUSD is now trading 1.0900 after topping 1.10, GBPUSD 1.2220 after 1.2400
Today, International PMI (IT 9:45, FR 9:50, DE 9:55, EU 10 and US 15:45) will be important, EU Producer Prices at 11:00 and US Non farm Payroll at 14:30.
The Expectation is for 185k hirings after 223k in January, the unemployment rate at 3.6% after 3.5% and average earnings up 0.3%. While the initial market reaction is usually based on the headline Non Farm Payroll, it is common the other numbers then alter the reaction.
The close levels for the week will be rather intersting.
Trade safely
A new fragmented world order can render some of today's infrastructure obselete, but it also calls for massive new investments across the globe, which requires a new set of strategic and tactical investment strategies.
Steen Jakobsen,
Chief Investment Officer
As globalisation turns to fragmentation, China seems set on playing a role in the global economy, while simultaneously working towards proofing its own economic situation from external shocks and crises.
Redmond Wong,
Market Strategist
The recent bank runs and ensuing challenges are reminicent of something we've seen before. Will it end like the S&L crises of 1986 and 1995?
Chris Dembik,
Head of Macroeconomic Research
Equity markets need to recalibrate to another - fragmented - global world. What's your view on equities in this market - are they going up or down?
Peter Garnry,
Head of Equity Strategy
With every development comes new opportunites, some of which could be in India. Have you considered the country as a part of your diversification strategy?
Charu Chanana,
Market Strategist
A collar is an option strategy that allows some protection while maintaining some upside potential. What investment would you like to use a collar strategy for?
Hans Oudshoorn,
Trainer Academy
There are arguments to be made for many commodities to have upside. Which are you paying the most attention to this quarter?
Ole S. Hansen,
Head of Commodity Strategy
In a very challenging macro environment, which currencies do you think will come out on top?
John J. Hardy,
Head of FX Strategy