Erik Schafhauser Zürich

Morning Brew July 27 2021

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Good Morning,

News of the day came with a report by the Wall Street Journal that that Saudia Arabia was boosting oil output but the move was reversed on the denial.

Oil fell app. 5 USD only to make it all back. Gold and Silver followed the move to a lesser extent.

Equities traded a little lower yesterday on Chinese lockdown news bit Indexes only fell by 0.4% (S&P500) and 1.1% (Nasdaq)

Top Movers were Disney where the return of Bob Igner boostes confidence and the stock rose 6.3%, loser of the day was Tesla, where a recall caused the stock to fall by almost 7% and the stock has lost app. 30% in November. Total Volume was only 9.4 billion versus a 20 day average of 11.8 bio.

Grindr turned out to be a thrilling IPO, On Friday we traded from 17 to 71.5 USD and closed at 36.5, yesterday, shares lost 46%.

The USD Index rose a little yesterday, technically the most interesting is EURUSD having failed the initial test of the 200d Moving average which is at 1.04 at the moment to trade at 1.0250. GBPUSD is 1.1825 and USDJPY 141.87.

Gold tested the 1735 support yesterday and Silver fell as low as 20.60, now 1741 and 21.07.

As we saw yesterday in oil, the market is thin and can me pushed easily. I would expect this to remain for the rest of the week. Make sure your risk management is sound and the position size in line with sharp moves.

Economic data:

Tuesday: EU Consumer Confidence

Wednesday European and US  PMIs

Thursday: DE IFO, Swedish and Turkish rate decisions

Friday: DE GDP

 

Outrageous Predictions 2026

01 /

  • Executive Summary: Outrageous Predictions 2026

    Outrageous Predictions

    Executive Summary: Outrageous Predictions 2026

    Saxo Group

    Read Saxo's Outrageous Predictions for 2026, our latest batch of low probability, but high impact ev...
  • A Fortune 500 company names an AI model as CEO

    Outrageous Predictions

    A Fortune 500 company names an AI model as CEO

    Charu Chanana

    Chief Investment Strategist

    Can AI be trusted to take over in the boardroom? With the right algorithms and balanced human oversi...
  • Despite concerns, U.S. 2026 mid-term elections proceed smoothly

    Outrageous Predictions

    Despite concerns, U.S. 2026 mid-term elections proceed smoothly

    John J. Hardy

    Global Head of Macro Strategy

    In spite of outstanding threats to the American democratic process, the US midterms come and go cord...
  • Dollar dominance challenged by Beijing’s golden yuan

    Outrageous Predictions

    Dollar dominance challenged by Beijing’s golden yuan

    Charu Chanana

    Chief Investment Strategist

    Beijing does an end-run around the US dollar, setting up a framework for settling trade in a neutral...
  • Obesity drugs for everyone – even for pets

    Outrageous Predictions

    Obesity drugs for everyone – even for pets

    Jacob Falkencrone

    Global Head of Investment Strategy

    The availability of GLP-1 drugs in pill form makes them ubiquitous, shrinking waistlines, even for p...
  • Dumb AI triggers trillion-dollar clean-up

    Outrageous Predictions

    Dumb AI triggers trillion-dollar clean-up

    Jacob Falkencrone

    Global Head of Investment Strategy

    Agentic AI systems are deployed across all sectors, and after a solid start, mistakes trigger a tril...
  • Quantum leap Q-Day arrives early, crashing crypto and destabilizing world finance

    Outrageous Predictions

    Quantum leap Q-Day arrives early, crashing crypto and destabilizing world finance

    Neil Wilson

    Investor Content Strategist

    A quantum computer cracks today’s digital security, bringing enough chaos with it that Bitcoin crash...
  • Taylor Swift-Kelce wedding spikes global growth

    Outrageous Predictions

    Taylor Swift-Kelce wedding spikes global growth

    John J. Hardy

    Global Head of Macro Strategy

    Next year’s most anticipated wedding inspires Gen Z to drop the doomscrolling and dial up the real w...
  • SpaceX announces an IPO, supercharging extraterrestrial markets

    Outrageous Predictions

    SpaceX announces an IPO, supercharging extraterrestrial markets

    John J. Hardy

    Global Head of Macro Strategy

    Financial markets go into orbit, to the moon and beyond as SpaceX expands rocket launches by orders-...
  • China unleashes CNY 50 trillion stimulus to reflate its economy

    Outrageous Predictions

    China unleashes CNY 50 trillion stimulus to reflate its economy

    Charu Chanana

    Chief Investment Strategist

    Having created history’s most epic debt bubble, China boldly bets that fiscal stimulus to the tune o...

This content is marketing material. 

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 or 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.

Saxo partners with companies that provide compensation for promotional activities conducted on its platform. Some partners also pay retrocessions contingent on clients investing in products from those partners. 

While Saxo receives compensation from these partnerships, all educational and research content remains focused on providing information to clients.

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.