Erik Erik Erik

Morning Brew January 26 2022

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Heading into the FOMC markets remain nervous


Good Morning

Markets are settling down a little ahead of the fed meeting, US indexes traded weakly yesterday losing overall: Dow -0.2%, S&P 1.2%, Nasdaq 2.3%, over night, futures add app 0.5%. Futures are trading at 4356 for the S&P500 the Dow Jones at 34205 and the Nasdaq 14206, the Dax 15200 and the Eurostoxx 50 at 4100. The Vix closed above 30 after hitting 15moth highs.

GE and Microsoft lost 6 and 5% respectively after disappointing earnings. Overall volumes dropped with 13 bio shares traded vs more than 18 bio on Monday,

All eyes are on the Fed tonight with the rate outlook. The expectation is for no change at this meeting but a plan for March and a fast pace of tapering. The Rate decision is at 20:00 CET and the press conference starts 30 minutes later. Also, Tesla Earnings will be in focus after the stock has lost 30% off the highs.

FX and Rates are fairly calm ahead of the FOMC, the USD Index remains near 96, EURUSD is trading 1.13 and GPBUSD 1.35, Gold remains strong on the break above 1835, currently at 1846, Silver fails to follow and remains at 23.70. Bitcoin can stabilize and rise to 37500.

After the presentation of our Quarterly Outlook, Fuelling the Energy Crisis feel free to join our webinar today at 13:00 CET, please sign up here: Upcoming events and webinars | Saxo Group (home.saxo)

U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Vladimir Putin if Russia invades Ukraine

A Report on Boris Johnson's Downing Street party could be published today as the matter broadens with Scotland Yard investigating a second event that may have violated corona regulations.

 

Key Economic Data:

Wednesday: Canada Rate decision, US Rate decision

Thursday: US Durable Goods orders and GDP

Friday: Swiss KOF, EU Business Climate, Personal Income, US PCE, University of Michigan Consumer Confidence.

Companies:

Wednesday: Christian Dior, Boeing, Anthem, , Tesla, Intel, Abbott Laboratories, AT&T,

Thursday: Diageo, Danaher, Apple, Visa, LVMH, Mastercard, Comcast, McDonald's, SAP SE, Blackstone,

Friday: Charter Communications, Chevron Caterpillar

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.