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CFDs and forex spot transactions are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor lose money when trading CFDs and/or forex spot with this provider. 0.52% of retail clients trading in leveraged products experience a negative account balance after a stop out occurred.
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CFDs and forex spot transactions are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor lose money when trading CFDs and/or forex spot with this provider. 0.52% of retail clients trading in leveraged products experience a negative account balance after a stop out occurred. You should consider whether you understand how CFDs, forex spot transactions or any of our other products work and whether you can afford to take high risk of losing your money.
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Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning BrewNovember 27 2023

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  USD Weak in to Month End...

Good Morning

Thanksgiving week was fairly quiet for stocks overall, the S%P 500 gained 1%, the Nasdaq Composite 0.1%, the Dow 1.3%.

EURUSD ended the week basically unchanged, GBPUSD gained 0.8%, USDJPY 0.7%.

Gold and Silver rose by 1.15% and 2.5% Bitcoin 3.4% and Ethereum 7.5%. Gold once again closed the week above the 2000 mark and traders are eager to see if we tackle the next technical levels at 2015 and 2050 or if the Rally fizzles out again.

This morning, the picture is mixed, Stocks give up some ground while the USD slips. EURUSD is 1.0957, GBPUSD 1.2620, USDJPY 148.90 and Gold and Silver are strong at 2010 and Silver 24.60.

The USD Index is trading near support – if broken there is a god amount of room to the downside . 100.90 is the key level if we break below 103.

Copper found buyers and could be interesting

Whie not very strong last week or  today, Equities may be setting up for a year end Rally, as now more than half of the S&P 500 stocks are above the 200d moving average. This might be a signal for a rally outside the magnificent 7.

In Switzerland, the he big loser of the issues around Signa Group is Bank Julius Baer which lost 16% last week due to the high exposure. According to “Der Spiegel” Signa is considering filing for bankruptcy- trade carefully here and don`t catch a falling knife. Consider options if you are looking to speculate. .

This week, we are awaiting the Month end adjustments, the Opec Meeting, lots of Data with the PCE on Thursday key. Despite being the first Friday of the Month, the Nonfarm Payroll will not be released this Friday, many futures and cfd expire.

Trade safely.

Upcoming Data:

Monday
- Data Japan PPI, France Unemployment, Israel Rate Decision, US New Home Sales,

- Earnings

Tuesday
- Data: AU Retail Sales, US Consumer Confidence,

- Earnings Vantage Towers, Bank of Nova Scotia, Intuit, Workday, HP, NetApp,

Wednesday
- Data EU Consumer Confidence, Germany CPI, US GDP 2nd Estimate
- Earnings Snowflake, Okta, Pure Storage, Dollar Tree,

Thursday
- Data China PMI, Norway GDP, Swiss KOF , France CPI, Germany Unemployment, EU Inflation, US PCE & Initial Jobless Claims, Canada GDP
- Earnings Royal Bank of Canada, Dell, Marvell

Friday
- Data Japan Unemployment Rate, China Caixin PMI, International PMI, Canada Unemployment rate
- Earnings National Bank of Canada, Bank of Montreal,

Expiries

Physically Settled Futures

NGZ3 will expire 27 Nov 2023 at 08:30 GMT

MGCZ3 will expire 28 Nov 2023 at 16:00 GMT

FLGZ3 will expire 28 Nov 2023 at 16:00 GMT

GCZ3 will expire 29 Nov 2023 at 16:00 GMT

HGZ3 will expire 29 Nov 2023 at 16:00 GMT

KEZ3 will expire 29 Nov 2023 at 16:00 GMT

SILZ3 will expire 29 Nov 2023 at 16:00 GMT

SIZ3 will expire 29 Nov 2023 at 16:00 GMT

TNZ3 will expire 29 Nov 2023 at 16:00 GMT

TTFMZ3 will expire 28 Nov 2023 at 10:00 GMT

UBZ3 will expire 29 Nov 2023 at 16:00 GMT

XCZ3 will expire 29 Nov 2023 at 16:00 GMT

XWZ3 will expire 29 Nov 2023 at 16:00 GMT

Z3NZ3 will expire 29 Nov 2023 at 16:00 GMT

ZBZ3 will expire 29 Nov 2023 at 16:00 GMT

ZCZ3 will expire 29 Nov 2023 at 16:00 GMT

ZFZ3 will expire 29 Nov 2023 at 16:00 GMT

ZLZ3 will expire 29 Nov 2023 at 16:00 GMT

ZMZ3 will expire 29 Nov 2023 at 16:00 GMT

ZNZ3 will expire 29 Nov 2023 at 16:00 GMT

ZTZ3 will expire 29 Nov 2023 at 16:00 GMT

ZWZ3 will expire 29 Nov 2023 at 16:00 GMT

HOZ3 will expire 30 Nov 2023 at 16:00 GMT

RBZ3 will expire 30 Nov 2023 at 16:00 GMT

 

Expiring CFDs

10YUSTNOTEDEC23 will expire 28 Nov 2023 at 16:00 GMT

30YUSTBONDDEC23 will expire 28 Nov 2023 at 16:00 GMT

COPPERUSDEC23 will expire 28 Nov 2023 at 16:00 GMT

CORNDEC23 will expire 28 Nov 2023 at 16:00 GMT

GASOLINEUSDEC23 will expire 28 Nov 2023 at 16:00 GMT

GOLDDEC23 will expire 28 Nov 2023 at 16:00 GMT

HEATINGOILDEC23 will expire 28 Nov 2023 at 16:00 GMT

SILVERDEC23 will expire 28 Nov 2023 at 16:00 GMT

SOYBEANMEALDEC23 will expire 28 Nov 2023 at 16:00 GMT

WHEATDEC23 will expire 28 Nov 2023 at 16:00 GMT

CHINA50NOV23 will expire 29 Nov 2023 at 02:00 GMT

HK50NOV23 will expire 29 Nov 2023 at 02:00 GMT

TAIWAN95NOV23 will expire 29 Nov 2023 at 02:00 GMT

LIVECATTLEDEC23 will expire 30 Nov 2023 at 16:00 GMT

OILUKJAN24 will expire 30 Nov 2023 at 16:00 GMT

 

Quarterly Outlook 2024 Q3

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  • Equities: Are we blowing bubbles again

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  • FX: Risk-on currencies to surge against havens

    Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperform in Q3 2024.

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