Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew January 18 2022

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Yields and Oil rise

Good Morning

Ax expected, yesterday was not the most volatile of days given the US Holiday.

The Bank of Japan left rates upgraded its inflation forecasts on Tuesday, the JPY tested the 115 and the 200hMA level and failed to break higher so far.

Equities are under pressure this morning  as rising oil prices dampen the mood and fuel inflation fears.  A drone attack in the UAE and receding worries on Omicron let prices rise. Brent has broken above the double top 2018 and Q4 2021.

US Indexes are trading app. 0.5% lower with the US30 at 35853 the US 500 at 4640 and the US Tech 100 at 15443. The GER30 trades at 15890.

US yields rose to 1.84 and the German 10 Year is approaching 0, currently at -0.022 and a new high since Q2 2019

EURUSD is trading at 1.1400, GBPUSD 1.3640 and the USD Index 95.30

Gold hovers at 1816 and Silver just below the 22.95. So far the old rule that Gold follows oil higher is not the case.

Bitcoin remains stable to 42300 with a study by Genesis Trading showing that the investor base into bitcoin is becoming more stable. The amount of bitcoin held in digital wallets with no outflows for more than five months has been steadily increasing and The number of bitcoins that haven't been traded in 12 months moved in over a year has been rising steadily in the last 6 months.

UBS has reached levels not seen since early 2018, in view of 18 CHF again, while the resignation of Horta-Osorio, the stock fell to 9.3 as the focus was more on the fact that there was a further issue and not on the fact that that there had been a solution.

Airline executives in the US warned of an aviation crisis if 5G is rolled out as currently planned because airlines failed to get their planes ready in time. The US could be looking at more than 1,100 flights daily could be cancelled.

Rio Tinto expects slightly weaker  iron ore shipments in 2022

German UK Labor Data at 8:00 the German ZEW at 11:00 ,the Canada CPI 14:30

Key earnings today earnings Goldman Sachs, Interactive Broker and  Charles Schwab

Physically Settled Futures:

CLG2 will expire 20th January 2022 at 16:00 GMT.

ECOG2 will expire 23th January 2022 at 10:00 GMT.

NGG2G2 will expire 27th January 2022 at 10:00 GMT.

GCG2, MGCG2 will expire 28th January 2022 at 16:00 GMT.

Expiring CFDs:

OILUSFEB22 will expire 18th January 2022 at 16:00 GMT.

NATGASUSFEB22 will expire 25th January 2022 at 16:00 GMT.

INDIA50JAN22 & TAIWAN95JAN22 will expire 27th January 2022 at 02:00 GMT.

GASOLINEUSFEB22, GOLDFEB22 & HEATINGOILFEB22 will expire 27th January 2022 at 16:00 GMT.

CHINA50JAN22, HK50JAN22 & SINGAPOREJAN22 will expire 28th January 2022 at 02:00 GMT.

Futures can be rolled online via the Futures Spread Trade Ticket. Any open positions will be closed after the mentioned times.

Trade safely.



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