Erik Schafhauser Zürich

Morning BrewMarch 25 2022

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Overly Complacent? Nvidia pulls markets higher


Good Morning,

 

Stocks rose yesterday led by tech and aided by lower energy prices. Fears on a shortage in Europe ease as there is so far no agreement on an overall energy import ban against Russia, the US is also looking to release further reserves. Nvidia announced to use cash to expand its business instead of buying back its own stock, causing  the shares to rise by almost 10% and pulling tech higher overall. Indexes closed higher with the Dow up 1%,the  S&P 500 1.4% and the  Nasdaq up 1.9%. The GER40 trading at 14330

Reports are out that Europe has reached an agreement on the Digital Markets Act (DMA) sets out rules for online gatekeepers,  companies that control data and platform access like Google, Facebook. Apple and Facebook. The Act seeks to regulate companies with a  market capitalization of 75 billion euros, 7.5 billion euros in annual turnover and at least 45 million regular users.

Gold and Silver jumped higher on lack of progress in Ukraine, EURUSD Rose back above 1.10 and GBPUSD 1.32 USDJPY is trading off the high at near 122.40, currently 121.70.

 The Russian rouble extended its gains yesterday and traded  close to 96 against the dollar, stocks market rose after the reopening.

Bitcoin is nearing the 45k again and a break above would be a bullish signal

UK Retail sales disappointed this morning, the YoY figure came at 7% vs 7.8% expected, further we are expecting the Spanish GDP at 9, the German IFO at 10 and the University of Michigan Confidence at 15:00.

Next week will be the quarter end and the Japanese fiscal year end, it looks like traders are aiming for a strong finale, we continue see severe overall risks in the market and would still suggest caution and smaller positions or optionality.

 

Expiries
Physically Settled Futures:

NGJ2 will expire 28th March at 7:30 GMT.

Expiring CFDs:

NATGASUSAPR22 will expire on 25 March at 15:00 GMT.

GASOLINEUSAPR22 and GOLDAPR22 will expire on 29 March at 15:00 GMT.

 

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

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