Erik Schafhauser Zürich

Morning Brew July 19 2021

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Risk Off prevails- will buyers step in?


Good Morning

Fridays we saw a selloff in equities USD strength, trigger was a combination of corona worries, a disappointing University of Michigan consumer confidence and profit taking on the failure to make new highs. Overnight the sentiment persist with major indexes 0.5% lower. Amazon Apple and Nvidia were weighed heavily on the Nasdaq with Nvidia giving up 4% . Cruise Lines lie Carnival and Norwegian lost 5%.

The USD Index remains strong at 92.75, EURSUD trades at 1.1800, GBPUSD at 1.3750 and Gold and Silver at 1806 and 25.35. Silver fell through the 200day moving average and has fallen through the 25.50 support

OPEC+ agreed to increase oil supply from August pushing the price app 1% lower.

Today the Agenda is basically empty, and key will be if the negative mood persists or if we find a buying interest to maintain in the range.

Netflix , Twitter, Johnson & Johnson, United Airlines and Intel, and many other companies will report earnings this week and the ECB meeting on Thursday will be very important along with global PMIs on Friday.

Local Start Date

Local Time

Country/Region

Relevance

Indicator Name

Period

Reuters Poll

20 Jul 2021

01:30

Japan

High

CPI, Core Nationwide YY

Jun

0.2%

20 Jul 2021

01:30

Japan

High

CPI, Overall Nationwide

Jun

20 Jul 2021

14:00

New Zealand

High

Milk Auctions

20 Jul, w/e

20 Jul 2021

14:30

United States

High

Housing Starts Number

Jun

1.590M

21 Jul 2021

01:50

Japan

High

Exports YY

Jun

46.2%

21 Jul 2021

01:50

Japan

High

Imports YY

Jun

29.0%

21 Jul 2021

01:50

Japan

High

Trade Balance Total Yen

Jun

460.0B

22 Jul 2021

08:00

Denmark

High

Consumer Confidence

Jul

22 Jul 2021

08:45

France

High

Business Climate Mfg

Jul

22 Jul 2021

13:45

Euro Zone

High

ECB Refinancing Rate

Jul

0.00%

22 Jul 2021

13:45

Euro Zone

High

ECB Deposit Rate

Jul

-0.50%

22 Jul 2021

14:30

United States

High

Initial Jobless Clm

12 Jul, w/e

22 Jul 2021

16:00

United States

High

Existing Home Sales

Jun

5.90M

22 Jul 2021

16:00

Euro Zone

High

Consumer Confid. Flash

Jul

-2.5

23 Jul 2021

01:00

Australia

High

Mfg PMI Flash

Jul

23 Jul 2021

01:00

Australia

High

Services PMI Flash

Jul

23 Jul 2021

01:00

Australia

High

Comp PMI Flash

Jul

23 Jul 2021

08:00

United Kingdom

High

Retail Sales MM

Jun

23 Jul 2021

08:00

United Kingdom

High

Retail Sales Ex-Fuel MM

Jun

23 Jul 2021

08:00

United Kingdom

High

Retail Sales YY

Jun

23 Jul 2021

09:15

France

High

Markit Mfg Flash PMI

Jul

23 Jul 2021

09:15

France

High

Markit Serv Flash PMI

Jul

23 Jul 2021

09:15

France

High

Markit Comp Flash PMI

Jul

23 Jul 2021

09:30

Germany

High

Markit Mfg Flash PMI

Jul

64.2

23 Jul 2021

09:30

Germany

High

Markit Service Flash PMI

Jul

59.5

23 Jul 2021

09:30

Germany

High

Markit Comp Flash PMI

Jul

23 Jul 2021

10:00

Euro Zone

High

Markit Mfg Flash PMI

Jul

62.5

23 Jul 2021

10:00

Euro Zone

High

Markit Serv Flash PMI

Jul

59.5

23 Jul 2021

10:00

Euro Zone

High

Markit Comp Flash PMI

Jul

60.1

23 Jul 2021

10:30

United Kingdom

High

Flash Composite PMI

Jul

23 Jul 2021

10:30

United Kingdom

High

Flash Manufacturing PMI

Jul

23 Jul 2021

10:30

United Kingdom

High

Flash Services PMI

Jul

23 Jul 2021

14:00

Brazil

High

IPCA-15 Mid-Month CPI

Jul

23 Jul 2021

14:30

Canada

High

Retail Sales MM

May

23 Jul 2021

15:45

United States

High

Markit Comp Flash PMI

Jul

23 Jul 2021

15:45

United States

High

Markit Mfg PMI Flash

Jul

23 Jul 2021

15:45

United States

High

Markit Svcs PMI Flash

Jul

(Refinitiv)

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