Erik Erik Erik

Morning Brew June 28 2022

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Looking for Clues


Good Morning,

Markets are in a bit of a hybernation phase it seems where everybody is looking for direction and not sure where the next key impulse will be coming from.

All three US Indexes closed less than 1% from Friday`s close a, EURUSD remains at 1.0575, GBPUSD 1.2270 and Gold and Silver a little lower at 1825 and 21.15.

The US500 is currently at 3900 with key support at 3820 and resistance at 3975, tthe GER40 is at 13170 in limbo between 13,118  and 13,564-13,600. For a clearer direction.

The G7 vowed to stand with Ukraine "for as long as it takes", as a Russian missiles hit a shopping center.

Credit Swiss presented it`s strategy at an investor day without great surprises – technology driven cost savings remain key while risk management is strengthened the bank announced to appeal a conviction against aiding money laundering, the stock did not move significantly.

German GfK Consumer Confidence came at the lowest since 1991 but a little better than feared, Dax gained.

Tokyo is suffering the worst heat wave in June in 150 years and could suffer shortages of electricity.

The TRY lost after yesterdays intervention at 16.55 but stronger than the last few weeks.

Todays key event will be the US Consumer confidence at 16:00, the G7 Meeting will conclude and  the ECB summit will kick off in Portugal with possibly market moving comments. Half year adjustments can also be expected the next days.

Overall the central question will remain how much more hawkish central banks need to be to slow inflation as growth seems to slow and commodity prices recede.  Tomorrows German HICP will be the next solid clue.

Tomorrow, the German HICP and the US GDP will be key,  Thursday  UK GDP, Swiss KOF, German and EU Unemployment, German Price data, as well as US Consumption data Friday the Japanese will be released, followed by the Chinse and international  PMIs

Remain cautios!

Expiries

        Physically Settled Futures:

TTFMN2 will expire 28th June at 15:00 GMT

CNM2 will expire 29th June at 8:35 GMT

RRN2, SILN2, SIN2, STFN2, XCN2, XKN2, XWN2, ZCN2, ZLN2, ZMN2, ZSN2 will expire 29th June at 15:00 GMT

RBN2, SBN2 will 30th June at 15:00 GMT

BZQ2 will expire 30th June at 18:30 GMT

 

 

Expiring CFDs:

COPPERUSJUL22, CORNJUL22, GASOLINEUSJUL22. HEATINGOILJUL22, SILVERJUL22, SOYBEANOILJUL22, SOYBEANMEALJUL22, SOYBEANSJUL22, SUGARNYJUL22, WHEATJUL22 will expire on 28th of June at 15:00 GMT
CHINA50JUN22, HK50JUN22,SINGAPOREJUN22, TAIWAN95JUN22 will expire 29th June at 2:00 GMT

INDIA50JUN22 will expire 30th June at 2:00 GMT

OILUKAUG22 will expire 30th June at 15:00 GMT

 

 

 

Disclaimer

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 (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/disclaimer)

Saxo Bank (Schweiz) AG
Beethovenstrasse 33
CH-8002
Zurich
Switzerland

Contact Saxo

Select region

Switzerland
Switzerland

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.