Erik Schafhauser Zürich

Morning Brew March 29 2022

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Quarter End Buying - Will it hold?


Good Morning,

Risk sentiment is strong as representatives from Ukraine and Russia are scheduled to meet in Turkey during the day and it seems hopes are high despite fighting continuing and the Ukrainian side firmly stating "We are not trading people, land or sovereignty."

Joe Biden presented his budget yesterday and - Shanghai -China's most populous city- tightened it`s COVID-19 lockdown further

US are trading higher at 35k for the US30 , the US500 at 4580 and the USTech100 at 15000. The GER40 has breached the initial resistance and is trading at 14580.

EURUSD and GBPUSD are trading at 1.0980 and 1.3087. USDJPY breached 123 Gold and Silver treat along with oil to 1923, 24.90 and 111.5 (UK)  Bitcoin rose to 47600 and the Vix fell to below 20.

Tesla jumped 8% on saying it was looking to undertake a stock split.

Plantronics jumped more than 50 after a takeover bid by HP, Shares of HP declined 2.7%.

It seems like the market is looking for a proper Quarter-End Rally but it will to a large degree  depend on the negotiations in Ukraine and there could be spikes in energy as the fronts between Russia and the West on the payment terms for Russian Energy seems to harden. Russia said it would insist on payment in Rouble from April the  G7 so far refuses. 

Key Data today: 

10:30 UK  Mortgage Data from the

16:00 US Consumer Confidence

Trade safely

 

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