Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew April 30 2024

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Heading into the FOMC and the 1st of May holiday in many areas

Good morning,

Due to the 1st of May holiday, there will be no Morning Brew tomorrow, please navigate Key earnings by heavyweights like Amazon and AMD, Month Ultimo, Earnings, the FOMC rate decision & Jerome Powell`s press conference, the financing announcement and uncertainty in the middle east as well as geopolitical matters safely and profitably.

Yesterday, Traders took Elon Musk`s trip to China well, Tesla stock soared 15% and Apple also gained 2.5% after a buy rating and renewed AI efforts were mentioned, Indexes closed in the green with the Dow +0.4%, the S&P +0.3% and the Nasdaq gained 0.35%.

The GER40 is currently at 18115 and the Neth25 is 882. European stock yesterday was Phillips. After agreeing to a settlement of 1.1bio USD the sock rose more than a quarter.

Ahead of the rate decision tomorrow, the 10-year yields are at 4.60 and the USD Index at 105.83. USDJPY stabilized at 156,80 for now after the intervention yesterday. EURUSD is at 1.0705 and GBPUSD, so some significant shifts within he Dollar Index but no major moves itself.

Gold and Silver are under pressure as the US is putting pressure on Hamas to accept an Israeli proposal for a truce, month end position adjustments and expiries are likely also in play, Gold is 2325 and Silver 26.85.

Overnight, Chinese PMI could hold barely above the important 50 but barely, today we are expecting a flurry of data points that can move markets if there is a surprise, tomorrow will be key with the FOMC. The key question remaining will be how hawkish Powell will sound in his speech and press conference – the most important time tomorrow is likely 20:30 CET when he steps to the podium, not 20:00 when the announcement happens. There will be important earnings announcement both days, today and tomorrow.

Trade safely!

Here some key readings by our Strats team:

Earnings week
Bonds in the week ahead
COT: Gold bulls stand firm despite recent correction
FX Technicals

- Data China PMI, France CPI, CH KOF, DE Unemployment & GDP, EU HICP& GDP, US Consumer confidence
- Earnings: Amazon, Stryker, AMD, Eli Lilly, Coca-Cola, McDonald’s, HSBC
- Data Japan PMI, US PMI & Rate Decision
- Earnings: QUALCOMM, Mastercard, Pfizer,

- Data US Initial Jobless Claims
- Earnings: Novo Nordisk, Linde, Apple, Amgen, Shell, ConocoPhillips,

- Data EU unemployment, US Nonfarm Payroll, PMI,
Saturday: Berkshire Hathaway


Physically Settled Futures

SBK4 will expire on 30 Apr 2024 at 15:00
RBK4 will expire on 30 Apr 2024 at 15:00
EBMK4 will expire on 3 May 2024 at 14:00


Expiring CFDs

OILUKJUN24 will expire on 30 Apr 2024 at 15:00



The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (
Full disclaimer (
Full disclaimer (

Saxo Bank (Schweiz) AG
The Circle 38

Contact Saxo

Select region


All trading carries risk. Losses can exceed deposits on margin products. You should consider whether you understand how our products work and whether you can afford to take the high risk of losing your money. To help you understand the risks involved we have put together a general Risk Warning series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. The KIDs can be accessed within the trading platform. Please note that the full prospectus can be obtained free of charge from Saxo Bank (Switzerland) Ltd. or the issuer.

This website can be accessed worldwide however the information on the website is related to Saxo Bank (Switzerland) Ltd. All clients will directly engage with Saxo Bank (Switzerland) Ltd. and all client agreements will be entered into with Saxo Bank (Switzerland) Ltd. and thus governed by Swiss Law. 

The content of this website represents marketing material and has not been notified or submitted to any supervisory authority.

If you contact Saxo Bank (Switzerland) Ltd. or visit this website, you acknowledge and agree that any data that you transmit to Saxo Bank (Switzerland) Ltd., either through this website, by telephone or by any other means of communication (e.g. e-mail), may be collected or recorded and transferred to other Saxo Bank Group companies or third parties in Switzerland or abroad and may be stored or otherwise processed by them or Saxo Bank (Switzerland) Ltd. You release Saxo Bank (Switzerland) Ltd. from its obligations under Swiss banking and securities dealer secrecies and, to the extent permitted by law, data protection laws as well as other laws and obligations to protect privacy. Saxo Bank (Switzerland) Ltd. has implemented appropriate technical and organizational measures to protect data from unauthorized processing and disclosure and applies appropriate safeguards to guarantee adequate protection of such data.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.