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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.
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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.
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Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew January 23 2023

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Will Risk Sentiment hold?

Good Morning, 

Equities soared higher on Friday with good earnings being cited as the trigger alongside bargain hunting - this shows there are  substantial amounts o money on the sidelines. The Dow closed up 1%, S&P 500 up 1.89% and the Nasdaq up 2.66%. Volume was more than 10% higher than average. The GE40 is near 15100 again.

Even though the 10 Year Rate in the US rises to 3.48, the UD remains under pressure and the UD Index falls to 101.70. 101.20 is the next significant support.

EURUSD is trading at 109,15, GBPUSD  1.2425 and UDCF 0.9173. The Yen is weak at 1.2995 a new Governor of the Bank of Japan will be announced in  a month.

Gold is 1922 and Silver 23.85 Gold is trading at the 2011 high and a real break higher would make room for a test of the 2000 again. Silver needs to break the 24.50 for any more room.

Bitcoin has risen to 22750 and is testing the September highs, a break here indicates room to 25k.

The big questions if Risk on sentiment holds. This week with China on the sidelines, focus will be on earnings and tier two economic data. The U Debt ceiling will be a topic until resolution and become more urgent when we approach the deadlines.

China is closed this week for the start of the new year.

Economic Data & Earnings

Monday

EU Consumer Confidence at 16:00

Tuesday

Japan PMI

Germany Consumer Confidence

International PMI

Earnings:  Johnson & Johnson Verizon Microsoft Corp Texas Instruments Raytheon Technologies Lockheed Martin

Wednesday

Australia CPI

GB PPI

German IFO

Canada Rate decision

Earnings: ASML Holding Tesla Inc IBM ServiceNow Abbott Laboratories NextEra Energy Inc AT&T Inc Boeing Co Automatic Data Processing  Automatic Data Processing Inc

 

Thursday

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

Friday

EU Money Supply

U PCE, Consumption and Conficence

Earnings:  American Express Co Chevron Corp

Holidays

Monday: Taiwan, Hong Kong, China, Indonesia, Korea, Malaysia, Singapore

 

Expiries

        Physically Settled Futures

ECOG3 notice day on 24 Jan 2023

NGG3 will expire on 27 Jan 2023

 

Expiring CFDs

HK50JAN23 will expire on 30 Jan 2023

Quarterly Outlook 2024 Q3

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  • Equities: Are we blowing bubbles again

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

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  • 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.

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  • 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.

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