Log in Open account
International
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider.
Show more
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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.
Show less
Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew July 18 2023

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Good Morning,

Markets were seemed fairly quiet yesterday while in fact, volumes were decent and the gains in US Equities as well, The Dow ended up 0.3%, the S&P 500 added 0.7% and the Nasdaq 1.2%. Volumes were slightly above average at 11.2 Bio shares traded.

Hopes that additional trade barriers may be avoided and the rebalancing apparently caused tech to outperform. Also, Janet Yellen stated

Rates changed little but the USD gave up ground, EURUSD rose to 1.1250, GBPUSD 1.3090 and USDJPY 138.40. Gold and Silver remain neat yesterdays level at 1959 and 24.85. If £Gold breaks above the 1963, we should see the next move up and Silver has room to 25,85 as long as we stay above 24.50.

Wheat saw some volatility yesterday as Russia let the Black Sea Wheat Deal expire but it calmed by now, we will need to assess if there is a real impact it seems.

Koen put together some Option strategies for ASML tomorrow:

What are your options - strategies for ASML Holding earnings :in the world of investing, earnings season always brings a flurry of activity and potential opportunities. This coming Wednesday, before the bell, we'll be hearing from ASML Holding N.V., a key player in the semiconductor industry.

 

What are we waiting for?

Key event today will be the US Retail Sales expected at 0.5% at 14:30 CET and the US Industrial Production, expected unchanged. The Canadian CPUI are key for everyone watching the Loonie. John Hardy wrote on the Yen while Equities seem to have some upside room but seem a little stretched.

Thade safely!

Tuesday July 18

US Retail Sales & Industrial Production, Canada CPI
Earnings: Bank of America, Novartis, Morgan Stanley, Prologis, Lockheed Martin, Charles Schwab, PNC Financial, Bank of NY Mellon

Wednesday July 19

EU HICP, US Housing Starts,
Earnings: Tesla, ASML, Netflix, IBM, Elevance Health, Goldman Sachs

Thursday July 20
China Loan Prime Rate, US Initial Jobless claims, US Consumer Confidence
Earnings: TSMC, Johnson & Johnson, SAP, Blackstone, CSX, ABB, Freeport-McMoran

Friday July 21
Japan CPI, UK Retail Sales
Earnings. American Express, Schlumberger

 

Quarterly Outlook 2024 Q3

Sandcastle economics

01 / 05

  • 350x200 peter

    Macro: Sandcastle economics

    Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.

    Read article
  • 350x200 althea

    Bonds: What to do until inflation stabilises

    Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain inflation and evolving monetary policies.

    Read article
  • 350x200 peter

    Equities: Are we blowing bubbles again

    Explore key trends and opportunities in European equities and electrification theme as market dynamics echo 2021's rally.

    Read article
  • 350x200 charu (1)

    FX: Risk-on currencies to surge against havens

    Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperform in Q3 2024.

    Read article
  • 350x200 ole

    Commodities: Energy and grains in focus as metals pause

    Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities in Q3 2024.

    Read article

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
Products & pricing
Platforms
Accounts & service
General
Other
Legal

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.