Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew June 13 2023

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Let`s get ready to rumble: Data and significant events loom ahead


Risk sentiment is strong into the key week of the month: Tesla rose 2.2% and has now climbed for 12 straight trading sessions, all three US Indexes and most indexes rose – the GER40 is nearing all-time highs again.

The USD Index in meandering 103.50 while US Yields are fairly calm the Italian ones dropped on news that Silvio Berlusconi deceased.

EURUSD is trading at 1.0784, GBPUSD 1.2530 and USDJPY 139.50. Gold and Silver are at 1959 and 24.12.

Key Headlines:

  • China's central bank lowered lending rates for the first time in 10 months
  • Donald Trump is facing criminal charges in Florida today
  • Credit Suisse stocks and CFD have been converted to UBS
  • Toyota will start selling new solid state batteries from 2026, sending the stock almost 5% higher
  • 50 cryptocurrencies worth over $100 billion in total are now viewed by the SEC to be securities. These can only be traded by brokers, and only on regulated exchanges
  • Saxo has emerged victorious at the prestigious e-FX Awards hosted by FX Markets. This year's triumph marks our fourth consecutive win being recognised with the highly coveted award ‘Best Retail FX Platform


Today we are expecting the UK Unemployment rate, the German HICP and ZEW and most importantly the US CPI ahead of the FOMC Rate decision and the ECB tomorrow and Thursday. If there are any surprises in the data or the rate decisions, I would expect a good deal of volatility. Consider options to hedge risk events as Vol seems chap.

Data, Earnings and Expiries:

Tuesday June 13
UK Unemployment rate
Germany HICP, ZEW
Ashtead Group


Wednesday June 14
US PPI Machine Manuf'ing

Rate decision

Earnings: Lennar


Thursday June 15
Japan Trade
China Retail Sales
ECB Refinancing Rate
US Retail Sales MM

Earnings: Adobe, Kroger, Jabil, Halma

Friday June 16

Italy CPI


        Physically Settled Futures

ADM3 will expire 15 Jun 2023 at 15:00 GMT

BPM3 will expire 15 Jun 2023 at 15:00 GMT

DXM3 will expire 15 Jun 2023 at 09:00 GMT

E7M3 will expire 15 Jun 2023 at 15:00 GMT

ECM3 will expire 15 Jun 2023 at 15:00 GMT

JYM3 will expire 15 Jun 2023 at 15:00 GMT

M6EM3 will expire 15 Jun 2023 at 15:00 GMT

MPM3 will expire 15 Jun 2023 at 15:00 GMT

MSFM3 will expire 15 Jun 2023 at 15:00 GMT

NEM3 will expire 15 Jun 2023 at 15:00 GMT

NOM3 will expire 15 Jun 2023 at 15:00 GMT

PJYM3 will expire 15 Jun 2023 at 15:00 GMT

RFM3 will expire 15 Jun 2023 at 15:00 GMT

RPM3 will expire 15 Jun 2023 at 15:00 GMT

RYM3 will expire 15 Jun 2023 at 15:00 GMT

SFM3 will expire 15 Jun 2023 at 15:00 GMT


Expiring CFDs

AUDUSDADJUN23 will expire 13 Jun 2023 15:00 GMT

EURCHFRFJUN23 will expire 13 Jun 2023 15:00 GMT

EURGBPRPJUN23 will expire 13 Jun 2023 15:00 GMT

EURJPYRYJUN23 will expire 13 Jun 2023 15:00 GMT

EURUSDECJUN23 will expire 13 Jun 2023 15:00 GMT

GBPUSDBPJUN23 will expire 13 Jun 2023 15:00 GMT

DEN25JUN23 will expire 14 Jun 2023 14:55 GMT

USDINDEXJUN23 will expire 14 Jun 2023 15:00 GMT

AUS200JUN23 will expire 15 Jun 2023 12:00 GMT

ZA40JUN23 will expire 15 Jun 2023 08:00 GMT


Futures can be rolled online via the Futures Spread Trade Ticket. Any open positions will be closed after the mentioned times.



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.