Morning Brew March 6 2026

Good morning,

Brent is up 5%, US Crude gains 8% and US Heating oil is up 10% this morning. So far Equities are holding up better than one would have feared, the after the sharp decline yesterday, the current indications are positive by app 0.5% across the board. Yesterday, the had closed  lower with the Dow-1.61%, S&P -0.56%, Nasdaq -0.26% .

Volume on U.S. exchanges was 22.32 billion shares, compared with the 17.82 billion  

The USD Index is holding above 99 at 99.05, and 10-year yields are at 4.14. EURUSD is at 1.1605, GBPUSD at 1.3360, and USDJPY at 157.85, while USDCHF is trading at 0.78 and EURCHF is near all-time lows. The Swiss Forex Reserves at 9 will attract some attention in light of the strength of the Swiss Franc. Last month, the reserves were at 711 billion. The EU is the largest trading partner of Switzerland, and exporters are struggling to compete at the current exchange rates. The SNB has signaled a willingness to be active in FX markets—so be a little cautious of possibly violent moves.

Gold and silver are stable at 5120 and 84 with a massive underlying volatility. Precious metals cannot decide if they are trading as a save haven or the ultimate expression of risk sentiment .

U.S. President Donald Trump fired Homeland Security Secretary Kristi Noem on Thursday after months of controversy, including the fatal shootings of two U.S. citizens by federal officers in Minneapolis, Markwayne Mullin will replace her.

Pentagon designates Anthropic a supply chain risk

Heading into the weekend we are expecting the US labor data with Nonfarm payrolls, unemployment and average earnings. The Nonfarm es expected at 59k, Unemployment 4.3% and average earnings 3.7%. While normally a key number, it may fade to the background behind any news from Iran and or the implication of supply and supply chain disruptions. Expect political pressure in the US to  mount as fuel costs rise.

Moves are higher than normal, the GER40 average daily move is app 440 points, that is 50% more than last year`s average!

Women investors are growing fast, and the next opportunity is diversification

• Absolute number of female direct clients: +40% since 2021
• Female share of direct client base: 19.8% to 23.5% (+3.7 percentage points)
• Women as share of new funded direct clients: 25.1% (2021) to 28.9% (2026 YTD run rate)

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Friday, 6 March 2026

US – Retail Sales Nonfarm Payrolls

Monday March 9^th