Morning Brew January 262023
Senior Relationship Manager
Equities rise with the US 30 at 33800, the US500 at 4030, the GER40 is trading at 15200, the USD Index is lower at 101.59, EURUSD rose to above the 1.09 to trade at 1.0920. Cable rose back to 1.24 and USDJPY fell to 129.30.
Gold is testing the 1950 again and Silver the 24.
Technically interesting are the GER40 and EURUSD Gold. If the GER40 breaches the 15270 it has room to 15770, EURUSD is approaching 1.0940, the halfway point of the 2020 to 2022 decline. If Gold manages to breach the 1950, 2000 is in sight.
The Bank of Canada raised rates in line with expectations yesterday and signaled a pause. At the next meeting.
Tesla posted better than expected results and Elon Musk stated that sales in 2023 could hit 2 million cars. In the aftermarket, the share price rose to 152 from 144.43.
Chevron announced a further $75 billion buyback - 22% of it`s marketcap.
To maintain risk on sentiment and reach new levels we will be watching the US GDP as well as the durable goods orders both at 14:30 today, the GDP is seen at 21.6& and the Durable goods at 2.5%. Earnings continue to be a major topic as well.
US GDP Advance Durable Goods Orders and Labor Data
Earnings: SAP SE, Visa Inc, LVMH, Christian Dior, Intel Corp, Mastercard Inc, Comcast Corp Diageo PLC, Blackstone Inc
EU Money Supply
U PCE, Consumption and Conficence
Earnings: American Express Co Chevron Corp
Physically Settled Futures
NGG3 will expire 26 Jan 2023
TTFMG3 will expire 27 Jan 2023
GCG3 will expire 30 Jan 2023
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HOG3 will expire 31 Jan 2023
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CHINA50JAN23 will expire 30 Jan 2023
HK50JAN23 will expire 30 Jan 2023
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OILUKMAR23 will expire 31 Jan 2023