Erik Schafhauser Zürich

Morning Brew March 24 2022

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Waiting for News from Brussels


Good Morning,

Rising oil prices, rising inflationary concerns , high yields and lack of any progress in Ukraine weighed on equities and risk sentiment yesterday. Several Fed Members signaled a hawkish stance.

US Indexes gave up a little more than 1% and the Dax index fell back to 14200 before rising to 14330.

EURUSD fell back to below 1.10 to currently trade at 1.0975 and GBPUSD 1.3185, the USD Index is at 98.85. USDJPY remains above 121 and Gold and Silver 1940 and 25.00. US  Yields paused and fell to 2.30 after reaching 2.40 yesterday.

Western leaders are starting their meeting in Brussels where we are expecting new sanctions on Russian leaders and need to watch carefully for an agreement to ban Energy imports from Russia altogether.

Russia has announced that starting next week “unfriendly” states will have to pay for their gas imports directly in Rouble – effectively requiring a circumvention of the central bank sanctions. The USDRUB fell to 90.75.

UK oil, is trading at 122 USD, up 25% in the last two weeks.

What do we watch for today? Most important will be any decision out of Brussels, next to that today hast he busiest schedule for economic data this week.

PMI will be released through he day: 9:15 France, 9:30 Germany, 10:00 EU 10:30 UK and 14:45 US.

At 9:30 the Swiss national Bank will announce rates with no change expected, 13:30 brings US Labor data an the Durable goods orders.

The US are dropping tariffs on more than 300 Chinese products, more than 500 had been expected, so the news are not as positive as the headline suggests.

Several companies are stopping or reducing activities in Russia, including Nestle and Renault,.

Continue to trade carefully and expect strong moves on news surrounding Ukraine and consider optionality vs direct exposure. 

 

Outrageous Predictions 2026

01 /

  • Switzerland's Green Revolution: CHF 30 Billion Initiative by 2050

    Outrageous Predictions

    Switzerland's Green Revolution: CHF 30 Billion Initiative by 2050

    Katrin Wagner

    Head of Investment Content Switzerland

    Switzerland launches a CHF 30 billion energy revolution by 2050, rivaling Lindt & Sprüngli's market ...
  • The Swiss Fortress – 2026

    Outrageous Predictions

    The Swiss Fortress – 2026

    Erik Schafhauser

    Senior Relationship Manager

    Swiss voters reject EU ties, boosting the Swiss Franc and sparking Switzerland's "Souveränität Zuers...
  • A Fortune 500 company names an AI model as CEO

    Outrageous Predictions

    A Fortune 500 company names an AI model as CEO

    Charu Chanana

    Chief Investment Strategist

    Can AI be trusted to take over in the boardroom? With the right algorithms and balanced human oversi...
  • Dollar dominance challenged by Beijing’s golden yuan

    Outrageous Predictions

    Dollar dominance challenged by Beijing’s golden yuan

    Charu Chanana

    Chief Investment Strategist

    Beijing does an end-run around the US dollar, setting up a framework for settling trade in a neutral...
  • Dumb AI triggers trillion-dollar clean-up

    Outrageous Predictions

    Dumb AI triggers trillion-dollar clean-up

    Jacob Falkencrone

    Global Head of Investment Strategy

    Agentic AI systems are deployed across all sectors, and after a solid start, mistakes trigger a tril...
  • Quantum leap Q-Day arrives early, crashing crypto and destabilizing world finance

    Outrageous Predictions

    Quantum leap Q-Day arrives early, crashing crypto and destabilizing world finance

    Neil Wilson

    Investor Content Strategist

    A quantum computer cracks today’s digital security, bringing enough chaos with it that Bitcoin crash...
  • SpaceX announces an IPO, supercharging extraterrestrial markets

    Outrageous Predictions

    SpaceX announces an IPO, supercharging extraterrestrial markets

    John J. Hardy

    Global Head of Macro Strategy

    Financial markets go into orbit, to the moon and beyond as SpaceX expands rocket launches by orders-...
  • Taylor Swift-Kelce wedding spikes global growth

    Outrageous Predictions

    Taylor Swift-Kelce wedding spikes global growth

    John J. Hardy

    Global Head of Macro Strategy

    Next year’s most anticipated wedding inspires Gen Z to drop the doomscrolling and dial up the real w...
  • Despite concerns, U.S. 2026 mid-term elections proceed smoothly

    Outrageous Predictions

    Despite concerns, U.S. 2026 mid-term elections proceed smoothly

    John J. Hardy

    Global Head of Macro Strategy

    In spite of outstanding threats to the American democratic process, the US midterms come and go cord...
  • Obesity drugs for everyone – even for pets

    Outrageous Predictions

    Obesity drugs for everyone – even for pets

    Jacob Falkencrone

    Global Head of Investment Strategy

    The availability of GLP-1 drugs in pill form makes them ubiquitous, shrinking waistlines, even for p...

This content is marketing material.

None of the information provided on this website constitutes an offer, solicitation, or endorsement to buy or sell any financial instrument, nor is it financial, investment, or trading advice. Saxo Bank Switzerland and its entities within the Saxo Bank Group provide execution-only services, with all trades and investments based on self-directed decisions. Analysis, research, and educational content is for informational purposes only and should not be considered advice nor a recommendation.

Saxo Bank Switzerland’s content may reflect the personal views of the author, which are subject to change without notice. Mentions of specific financial products are for illustrative purposes only and may serve to clarify financial literacy topics. Content classified as investment research is marketing material and does not meet legal requirements for independent research.

Saxo Bank Switzerland partners with companies that provide compensation for promotional activities conduced on its platform. Additionally, Saxo Bank Switzerland has agreements with certain partners who provide retrocession contingent upon clients purchasing specific products offered by these partners.

While Saxo Bank Switzerland receives compensation from these partnerships, all educational and research content remains focused on providing information to clients.  

Before making any investment decisions, you should assess your own financial situation, needs, and objectives, and consider seeking independent professional advice. Saxo Bank Switzerland does not guarantee the accuracy or completeness of any information provided and assumes no liability for any errors, omissions, losses, or damages resulting from the use of this information.

The content of this website represents marketing material and is not the result of financial analysis or research. It has therefore not been prepared in accordance with directives of the Swiss Bankers Association designed to promote the independence of financial research and is not subject to any prohibition on dealing ahead of the dissemination of the marketing material.

Saxo Bank (Schweiz) AG
The Circle 38
CH-8058
Zürich-Flughafen
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.