Erik Schafhauser Zürich

Morning Brew June 23 2021

Erik Schafhauser

Senior Relationship Manager

Good Morning

Risk sentiment prevails after Powell!

The Nasdaq ended at a record high, lifted by big tech,  as investors shifted their focus to growth stocks.  The Dow gained 0.2%, the S&P 0.5 and the Nasdaq 0.8% . Microsoft hit 2 Trillion in Market cap for the first time ever. The volatility Index Vix fell to 16.66 after reaching 22 on Monday.  Bitcoin recovered from a five-month low to 34000 in  volatile trading, the low was below 30,000.

The USD Index trades at 91.87, Gold and Silver are little moved at 27.90 and 1780, EURSUD reclaimed the 1.19 GBPUSD is at 1.3920. Silver remains supported by the 200 day moving average.

Brazil's real hit a one-year high on a central bank more hawkish than expected.

Federal Reserve Chair Jerome Powell reaffirmed the Fed was looking for a broad and inclusive recovery: "We will not raise interest rates pre-emptively because we fear the possible onset of inflation. We will wait for evidence of actual inflation or other imbalances” He expects the current high level of inflation to recede.

Japan's factory activity expanded at the slowest pace in 4 months with the Jibun PMI at 51.5. The Australian PMI also fell boding ill for the German, French, UK EU and US ones being released later.

 

Local Start Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

Unit

23 Jun 2021

01:00

Australia

Mfg PMI Flash

Jun

Index (diffusion)

23 Jun 2021

01:00

Australia

Services PMI Flash

Jun

Index (diffusion)

23 Jun 2021

01:00

Australia

Comp PMI Flash

Jun

Index (diffusion)

23 Jun 2021

02:30

Japan

Jibun Bank Mfg PMI Flash

Jun

Index (diffusion)

23 Jun 2021

09:15

France

Markit Mfg Flash PMI

Jun

59.0

Index (diffusion)

23 Jun 2021

09:15

France

Markit Serv Flash PMI

Jun

59.0

Index (diffusion)

23 Jun 2021

09:15

France

Markit Comp Flash PMI

Jun

59.0

Index (diffusion)

23 Jun 2021

09:30

Germany

Markit Mfg Flash PMI

Jun

63.4

Index (diffusion)

23 Jun 2021

09:30

Germany

Markit Service Flash PMI

Jun

55.0

Index (diffusion)

23 Jun 2021

09:30

Germany

Markit Comp Flash PMI

Jun

57.4

Index (diffusion)

23 Jun 2021

10:00

Euro Zone

Markit Mfg Flash PMI

Jun

62.1

Index (diffusion)

23 Jun 2021

10:00

Euro Zone

Markit Serv Flash PMI

Jun

57.5

Index (diffusion)

23 Jun 2021

10:00

Euro Zone

Markit Comp Flash PMI

Jun

58.8

Index (diffusion)

23 Jun 2021

10:30

United Kingdom

Flash Composite PMI

Jun

63.0

Index (diffusion)

23 Jun 2021

10:30

United Kingdom

Flash Manufacturing PMI

Jun

64.0

Index (diffusion)

23 Jun 2021

10:30

United Kingdom

Flash Services PMI

Jun

63.0

Index (diffusion)

23 Jun 2021

14:30

United States

Current Account

Q1

-207.0B

USD

23 Jun 2021

14:30

Canada

Retail Sales MM

Apr

-5.1%

Percent

23 Jun 2021

14:30

Canada

Retail Sales Ex-Autos MM

Apr

-5.0%

Percent

23 Jun 2021

15:45

United States

Markit Comp Flash PMI

Jun

Index (diffusion)

23 Jun 2021

15:45

United States

Markit Mfg PMI Flash

Jun

61.5

Index (diffusion)

23 Jun 2021

15:45

United States

Markit Svcs PMI Flash

Jun

70.0

Index (diffusion)

23 Jun 2021

16:00

United States

New Home Sales-Units

May

0.875M

Number of

24 Jun 2021

06:30

Netherlands

GDP Final SA QQ

Q1

-0.5%

Percent

24 Jun 2021

06:30

Netherlands

GDP Final NSA YY

Q1

Percent

24 Jun 2021

08:00

Germany

Import Prices MM

May

Percent

24 Jun 2021

08:00

Germany

Import Prices YY

May

11.3%

Percent

24 Jun 2021

08:45

France

Business Climate Mfg

Jun

110

Net balance

24 Jun 2021

09:00

Spain

GDP QQ

Q1

-0.5%

Percent

24 Jun 2021

09:00

Spain

GDP YY

Q1

-4.3%

Percent

24 Jun 2021

10:00

Germany

Ifo Business Climate New

Jun

100.1

Index

24 Jun 2021

10:00

Germany

Ifo Curr Conditions New

Jun

97.5

Index

24 Jun 2021

10:00

Germany

Ifo Expectations New

Jun

103.5

Index

24 Jun 2021

13:00

United Kingdom

BOE Bank Rate

Jun

0.10%

Percent

24 Jun 2021

13:00

United Kingdom

GB BOE QE Corp

Jun

20B

GBP

24 Jun 2021

13:00

United Kingdom

BOE MPC Vote Hike

Jun

0

Number of

24 Jun 2021

13:00

United Kingdom

BOE MPC Vote Unchanged

Jun

9

Number of

24 Jun 2021

13:00

United Kingdom

BOE MPC Vote Cut

Jun

0

Number of

24 Jun 2021

14:30

United States

Durable Goods

May

2.7%

Percent

24 Jun 2021

14:30

United States

Durables Ex-Transport

May

0.7%

Percent

24 Jun 2021

14:30

United States

GDP Final

Q1

6.4%

Percent

24 Jun 2021

14:30

United States

GDP Deflator Final

Q1

4.3%

Percent

24 Jun 2021

14:30

United States

Core PCE Prices Fnal

Q1

2.5%

Percent

24 Jun 2021

14:30

United States

Initial Jobless Clm

19 Jun, w/e

380k

Person

24 Jun 2021

14:30

United States

Cont Jobless Clm

12 Jun, w/e

3.458M

Person

25 Jun 2021

00:45

New Zealand

Imports

May

NZD

25 Jun 2021

00:45

New Zealand

Trade Balance

May

NZD

25 Jun 2021

00:45

New Zealand

Annual Trade Balance

May

NZD

25 Jun 2021

00:45

New Zealand

Exports

May

NZD

(refinitiv)


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