Erik Schafhauser Zürich

Morning Brew November 15 2022

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Quo Vadis


Good Morning,

Traders and investors had a bit if a hard time digesting the strong rise in risk sentiment last week, profit taking,  coupled with the limited fallout of the FTX collapse, News Amazon will cut staff  and comments from Fed speakers on the likely path from here.

Indexes gave up a little ground yesterday and the Dow fell by 0.63%, S&P 500 by 0.89%, Nasdaq by 1.12%, over night we see them rise again and the US 500 is at 3977, the USTECH100 at 11.800 and the GER 40 14333.

US 10 year rates are trading below 3.90 and the Terminal Rate remains at 4.90 (in May/June 2023)

The USDINDEX EURUSD is just below 107 as EURUSD 1.0330. USDJPY 140.30 and GBPUSD at 1.1780. Gold and Silver are high at 1770 and 22.

Bitcoin seems to stabilize above 16k and is currently trading at 16700.

The direction from here will depend on ne next key data points, today the EU GDP a, the German ZEW US PPI expected at 8.3% , tomorrow the UK CPI/ PPI, US Retail Sales and Canada`s inflation.

Thursday the EU HICP expected at 10.7% and Friday the UK Retail sales.

The G20 has the potential to deliver possible surprises and Donald Trump has announced an important announcement for today where it is expected he will announce his running for  the presidency again in 2024 – Even though he is the clear loser of the midterms.

Key Earnings:

  • Tuesday: Infineon Technologies, Vodafone, Alcon, Walmart, Home Depot, Sea Ltd
  • Wednesday: Siemens Energy, Tencent, Experian, SSE, Nibe Industrier, Nvidia, Cisco, Lowe’s, TJX, Target
  • Thursday: Siemens, Alibaba, Applied Materials, Palo Alto Networks, NetEase
  • Friday: JD.com

Headlines:

  • Tesla CEO Elon Musk this week has to defend his $56 billion pay package against shareholder allegations it was rigged.
  • Roche's Alzheimer's drug fails to meet goal

Trade Safely

 

Quarterly Outlook

01 /

  • Upending the global order at blinding speed

    Quarterly Outlook

    Upending the global order at blinding speed

    John J. Hardy

    Global Head of Macro Strategy

    We are witnessing a once-in-a-lifetime shredding of the global order. As the new order takes shape, ...
  • Equity outlook: The high cost of global fragmentation for US portfolios

    Quarterly Outlook

    Equity outlook: The high cost of global fragmentation for US portfolios

    Charu Chanana

    Chief Investment Strategist

  • Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Quarterly Outlook

    Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Jacob Falkencrone

    Global Head of Investment Strategy

  • Commodity Outlook: Commodities rally despite global uncertainty

    Quarterly Outlook

    Commodity Outlook: Commodities rally despite global uncertainty

    Ole Hansen

    Head of Commodity Strategy

  • Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    Quarterly Outlook

    Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    John J. Hardy

    Global Head of Macro Strategy

  • Equity Outlook: The ride just got rougher

    Quarterly Outlook

    Equity Outlook: The ride just got rougher

    Charu Chanana

    Chief Investment Strategist

  • China Outlook: The choice between retaliation or de-escalation

    Quarterly Outlook

    China Outlook: The choice between retaliation or de-escalation

    Charu Chanana

    Chief Investment Strategist

  • Commodity Outlook: A bumpy road ahead calls for diversification

    Quarterly Outlook

    Commodity Outlook: A bumpy road ahead calls for diversification

    Ole Hansen

    Head of Commodity Strategy

  • FX outlook: Tariffs drive USD strength, until...?

    Quarterly Outlook

    FX outlook: Tariffs drive USD strength, until...?

    John J. Hardy

    Global Head of Macro Strategy

  • Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Quarterly Outlook

    Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Althea Spinozzi

    Head of Fixed Income Strategy

Content disclaimer

None of the information provided on this website constitutes an offer, solicitation, or endorsement to buy or sell any financial instrument, nor is it financial, investment, or trading advice. Saxo Bank A/S and its entities within the Saxo Bank Group provide execution-only services, with all trades and investments based on self-directed decisions. Analysis, research, and educational content is for informational purposes only and should not be considered advice nor a recommendation.

Saxo’s content may reflect the personal views of the author, which are subject to change without notice. Mentions of specific financial products are for illustrative purposes only and may serve to clarify financial literacy topics. Content classified as investment research is marketing material and does not meet legal requirements for independent research.

Before making any investment decisions, you should assess your own financial situation, needs, and objectives, and consider seeking independent professional advice. Saxo does not guarantee the accuracy or completeness of any information provided and assumes no liability for any errors, omissions, losses, or damages resulting from the use of this information.

Please refer to our full disclaimer and notification on non-independent investment research for more details.

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

Contact Saxo

Select region

International
International

All trading and investing comes with risk, including but not limited to the potential to lose your entire invested amount.

Information on our international website (as selected from the globe drop-down) can be accessed worldwide and relates to Saxo Bank A/S as the parent company of the Saxo Bank Group. Any mention of the Saxo Bank Group refers to the overall organisation, including subsidiaries and branches under Saxo Bank A/S. Client agreements are made with the relevant Saxo entity based on your country of residence and are governed by the applicable laws of that entity's jurisdiction.

Apple and the Apple logo are trademarks of Apple Inc., registered in the US and other countries. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.