Morning Brew June 9 2021

Erik Schafhauser

Senior Relationship Manager

Good Morning

Markets continue to seek a clear direction while a flurry of news is piling up.

Global Indexes moved little yesterday and even less overnight, with all three US Index Futures, the Dax and the Eurostoxx moving less than 0.1% over night. Bitcoin came under  pressure again yesterday but held above 30k and warnings on regulation boost it back to near 34k. US 10 year yields trade at a 1 month low and seem to approach 1.5%. the USD Index remains near the 90, currently at 90.1, Gold and Silver are at 1892 and 27.60. The EURUSD trades at 1.2180 and Cable at 1.4150. Crude Oil is at 70.40, at years high.

Chinese PPI hits 9%, the highest level since 2008.

Apple explores battery production for electric vehicles in a move to onshore production in the US.

The Jolts survey on Job openings in the US reaches an all-time high at more than 9 mio.

Transport rates from China to Europe hit an all-time high.

ECB Balance Sheet continues to rise, now at 7680 billion Euro.

The US Senate passes a bill to counter the Chinese dominance in technology.

Joe Biden is trying to instead reaching out to a bipartisan group to make his infrastructure deal a reality, he is also visiting Europe for 8 days.

Leaked tax declarations on ultra-rich US citizens including Jeff Bezos and Warren Buffet add fuel to the minimum tax discussion.

Germany also has it`s “meme stock” with Windeln.de rising 500% since Friday.

Key focus remains on the US CPI tomorrow with the ECB in the background.

 

Safe Trading!

 

Local Start Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

Actual

Unit

9 Jun 2021

03:30

China (Mainland)

PPI YY

May

8.5%

Percent

9 Jun 2021

03:30

China (Mainland)

CPI YY

May

1.6%

Percent

9 Jun 2021

14:00

Brazil

IPCA Inflation Index MM

May

0.71%

Percent

9 Jun 2021

16:00

Canada

BoC Rate Decision

9 Jun

0.25%

Percent

10 Jun 2021

01:50

Japan

Corp Goods Price MM

May

0.5%

Percent

10 Jun 2021

01:50

Japan

Corp Goods Price YY

May

4.5%

Percent

10 Jun 2021

08:00

Norway

Consumer Price Index MM

May

Percent

10 Jun 2021

08:00

Norway

Consumer Price Index YY

May

2.9%

Percent

10 Jun 2021

08:00

Denmark

CPI YY

May

Percent

10 Jun 2021

09:30

Sweden

CPI MM

May

Percent

10 Jun 2021

09:30

Sweden

CPI YY

May

2.0%

Percent

10 Jun 2021

13:45

Euro Zone

ECB Refinancing Rate

Jun

0.00%

Percent

10 Jun 2021

13:45

Euro Zone

ECB Deposit Rate

Jun

-0.50%

Percent

10 Jun 2021

14:30

United States

CPI MM, SA

May

0.4%

Percent

10 Jun 2021

14:30

United States

Initial Jobless Clm

5 Jun, w/e

371k

Person

10 Jun 2021

China (Mainland)

Total Social Financing

May

2,002.30B

CNY

10 Jun 2021

China (Mainland)

M2 Money Supply YY

May

8.1%

Percent

10 Jun 2021

China (Mainland)

New Yuan Loans

May

1,410.0B

CNY

11 Jun 2021

08:00

United Kingdom

GDP Est 3M/3M

Apr

1.6%

Percent

11 Jun 2021

08:00

United Kingdom

GDP Estimate MM

Apr

2.4%

Percent

11 Jun 2021

08:00

United Kingdom

GDP Estimate YY

Apr

27.9%

Percent

11 Jun 2021

08:00

United Kingdom

Manufacturing Output MM

Apr

1.5%

Percent

11 Jun 2021

16:00

United States

U Mich Sentiment Prelim

Jun

84.0

Index

14 Jun 2021

09:00

Turkey

Current Account Balance

Apr

USD

(Refinitiv)

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