Morning Brew June 21 2022

Good Morning,

Yesterday was a fairly uneventful day with risk sentiment slightly improving. Asian Shares gained over night and European and US Futures hint at a friendly open, Asia gained app 2%, the US Futures around 1.5% and Europe are app 0.5% higher,

The USD Index is basically unchanged and EURUSD is trading at 1.0517, GBPUSD at 1.2250 and USDJPY at 135.09. The Yen is near the highs still despite record JGB purchases by the BOJ last week, this will be interesting.

Gold and Silver remain little changed at 1835 and 21.53, Oil recovers to 115.

This is not necessarily the end of the volatile markets it may well be the quiet before the storm. Bridgewater reported a 10 Bio Equity short position showing that there is still some pessimism around. e are seeing more and more reports on rather high pay demands – German IG Metall is demanding more than 8% in salary increase and in the UK app. 40k Rail workers are on strike today for better pay. This will likely cause secondary inflation so we are likely t see a hot summer  in the labor market

Todays calendar contains little except the Canadian Retail sales and US Existing Home sales at 14:30 and 16:00 CET.

Yesterday a number of interesting Technical comments were published by Km:

GBP: https://www.home.saxo/content/articles/forex/ta-gbpfx-20062022

AUD https://www.home.saxo/content/articles/forex/ta-aud-fx-20062022

EUR https://www.home.saxo/content/articles/forex/ta-eur-20062022

Remain cautions and flexible.

Expiries

        Physically Settled Futures:

PLN2 will expire 22^th June at 15:00 GMT

CCN2, CTN2 will expire 23^th June at 15:00 GMT

RCN2 will expire 24^th June at 15:00 GMT

NGN2 will expire 27^th June at 15:00 GMT

Expiring CFDs:

PLATINUMJUL22 will expire on 21^st of June at 15:00 GMT
COCOAANYJUL22 and COTTONJUL22 will expire 22th of June at 15:00 GMT

NATGASUSJUL22 will expire on 24^th of June 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.