Details Cookies
Important margin product information

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.

Cookie policy

This website uses cookies to offer you a better browsing experience by enabling, optimising and analysing site operations, as well as to provide personalised ad content and allow you to connect to social media. By choosing “Accept all” you consent to the use of cookies and the related processing of personal data. Select “Manage consent” to manage your consent preferences. You can change your preferences or retract your consent at any time via the cookie policy page. Please view our cookie policy here and our privacy policy here

Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew January 6 2023

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  First Key Data of the Year today

Good Morning,

A much better than expected ADP National Employment number spooked traders yesterday , driving equities lower and the USD stronger – the Terminal Rate is now being traded at above 5% in June. US Indexes lost more than 1% but recovered overnight. The GER4o is trading at 14527 and could try to break the 14601 if we see risk on sentiment hold.

The USD Index rose to 105.30, GBPUSD fell to 1.1911, EURUSD 1.0515 and USDJPY 133.90.

Gold and Silver traded lower yesterday, Gold hit 1825 and Silver neared the 23 figure, currently we are up to trade at 1840 and 23.40. Oil rose off yesterdays lows as well and rose to 74.15 from 72.50.

Fed Speaker came in the wires with a little dovish comments that the money supply boded well for Inflation.

Bed Bath & Beyond Inc lost 30%  to trade at 1.69 on news the company way considering  options, including bankruptcy.

The Chinese Commerce Ministry announced it will actively study and implement measures to boost consumption 

Today there are two bey events on the agenda:

  • EU HICP as well as Consumer Confidence at 11:00,
  • US Labor Data with a focus on the nonfarm payroll at 14:30.
  • At 16:00 the ISM Nonmanufacturing PMI could be interesting if coming as a surprise.

EU Inflation is expected at 9.7% year on Year, Retail Sales at -3.3% and Economic Sentiment at 94.7.

The Nonfarm Payroll is expected at 200k with Private Payrolls adding 180, and average earnings are expected to have risen 0.4%. the Unemployment rate is seen at 3.7%.

Any strong deviation will move the market while  the initial move is usually based on the NFP number.

Today is a holiday in Sweden, Finland, Poland, Greece, Cyprus, Slovakia, Croatia, Sri Lanka.



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 (
Full disclaimer (
Full disclaimer (

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15

Contact Saxo

Select region


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.