Log in Open account
Switzerland
CFDs and forex spot transactions are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor lose money when trading CFDs and/or forex spot with this provider. 0.52% of retail clients trading in leveraged products experience a negative account balance after a stop out occurred.
Show more
CFDs and forex spot transactions are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor lose money when trading CFDs and/or forex spot with this provider. 0.52% of retail clients trading in leveraged products experience a negative account balance after a stop out occurred. You should consider whether you understand how CFDs, forex spot transactions or any of our other products work and whether you can afford to take high risk of losing your money.
Show less
Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew August 12 2022

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  A possibly quiet day

 Good Morning,

Despite a lower than feared PPI yesterday, San Francisco Federal Reserve Bank President Mary Daly appeared on Bloomberg with rather hawkish tones. She said she preferred a 50 BPS Hike in September but thar she was open to a 75 bps hike should date require it.

Equities gave up some ground on that note but not significantly. The Dow gained 0.08%, the S&P fell by 0.07% and the Nasdaq fell by 0.6%. maybe most interesting was that the S&P 500 failed to  close above the 50 retracement line if the January / June decline.

The GER 40 is trading at 13700 and looking for inspiration.

EURUSD tested the 1.0350 resistance yesterday but failed to break higher and retreated to 1.0320, GBPUSD is meandering around the 1.22 and USDJPY 133.25. The USD Index is trading at 105.15 and there is some technical support at 105.00.

US Yields rose to 2.87 for the 10 year and we remain strongly inverted with the 2 year at 3.21.

Gold and Silver gave up ground yesterday but could recover a little to now trade at 20.38 and 1791. The US Oil Contract tested the 200d Moving average yesterday but failed to break it, we are currently at 93.93 and the MA at 94.97.

Bitcoin is a little off the recent highs but holding near 24k and Ethereum 1890.

Just now, UK data came less bad than expected with the Monthly GDP only falling 0.6% vs the expected 1.3% and industrial output at 2.4% vs 1.6% expected.

On todays radar we have the French and Spanish CPI at 8:45 and 9:00, the EU Industrial production at 11:00. Out of the US we expect the Import Prices at 14:30 and the University of Michigan Sentiment at 16:00.

With little key economic data, we keep an eye on event risk out of China/Taiwan, Ukraine and mainly the Fed for moves. It could be a fairly quiet day for once if there are no surprises with time to plan positions and investments rather than reacting to data.

Peter Garnry held a webinar yesterday on Equity Market Update: Earnings review and protecting your portfolio

All webinars are available on the page in the lower part if you missed it.

 

Earnings:

  • Flutter Entertainment, Baidu

Expiries

        Physically Settled Futures:

Lean Hogs (HEQ2) will expire 12th Aug at 17:00 GMT.

Cocoa (CCU2) will expire 17th Aug at 15:00 GMT.

Expiring CFDs:

Cocoanysep22 will expire 16th Aug 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.

 

Quarterly Outlook 2024 Q3

Sandcastle economics

01 / 05

  • Macro: Sandcastle economics

    Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.

    Read article

  • Bonds: What to do until inflation stabilises

    Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain inflation and evolving monetary policies.

    Read article

  • Equities: Are we blowing bubbles again

    Explore key trends and opportunities in European equities and electrification theme as market dynamics echo 2021's rally.

    Read article

  • FX: Risk-on currencies to surge against havens

    Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperform in Q3 2024.

    Read article

  • Commodities: Energy and grains in focus as metals pause

    Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities in Q3 2024.

    Read article

Disclaimer

 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 (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/disclaimer)

Saxo Bank (Schweiz) AG
The Circle 38
CH-8058
Zürich-Flughafen
Switzerland

Contact Saxo

Select region

Switzerland
Switzerland
Products & pricing
Platforms
Accounts & service
General
Other
Legal

Losses can exceed deposits on margin products. Please ensure you consult our Risk Warning before you start trading and you understand the risks.

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.