Erik Schafhauser Zürich

Morning Brew July 21 2021

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Equities recover yesterday while FX stabilizes. Was that it with the selloff or is this just a pause?


Good Morning

Equities recover yesterday while FX stabilizes. Was that it with the selloff or is this just a pause?

Selling pressure subsides during yesterday and overnight, all three US indexes gain more than 1.5% yesterday. Volumes were slightly above average. US 10 year yields rise to 1.20, the USD Index stabilizes at 93 and Bitcoin rises to above 30.000 again. Oil could rise off the 65 to trade at 66.91. Gold and Silver are trading at 1811 and 25.10. Silver remains dangerously close to the key 25 support. Japanese Exports were stronger than expected

Netflix disappoints and falls 3% in the aftermarket, SAP raises it`s guidance, Novartis beats the estimate along with Daimler, Nordea and Julius Baer.

Coca Cola, Johnson&Johnson, Nasdaq, Verizon Texas Instruments and Whirlpool will report today, otherwise the agenda  is fairly empty and sentiment will be key.

Tomorrow we are expecting more data and an interesting meeting by the ECB. We expect the ECB to provide insights on its new strategy and to adjust its forward guidance.

Local Start Date

Local Time

Country/Region

Relevance

Indicator Name

Period

Reuters Poll

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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