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Erik Schafhauser Zürich

Morning Brew February 22 2022

Morning Brew 1 minute to read
Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Ukraine Escalation Drives Risk Off Sentiment

Good Morning,

Vladimir Putin on Monday formally recognized two  regions in eastern Ukraine and ordered troops to enter them, Reuters reports tanks moving into Donezk. The US said to be imposing sanctions on Russia for” this clear violation of international law and Ukraine sovereignty and territorial integrity," Linda Thomas-Greenfield, U.S. ambassador to the United Nations, stated.

Risk off sentiment is the key sentiment with Indexes falling severely. Dax drops to 14450, the Nasdaq below 14k at 13700 , the US500 4280 and the Dow to 33600.

Gold and Silver gain to 1911 and 24.20, EURCHF falls to 1.0350 and the yen also gains.

Ruble falls to 80 and Russian stocks drop on the expectation of sanctions if not war, Oil gains app. 2%, the Dutch TTF Gas contract adds more than 10%.

EURUSD drops to 1.1290, GBPUSD to 1.3580. Bitcoin falls to 36600

Besides the Ukraine, the key piece of news yesterday was the German producer price at 214.2%, the highest since the inception of the D-Mark

Be extremely cautious today the market is likely to move fast on any news either direction. We can also soon expect comments out oaf central banks on any measures to calm markets or price reactions on the back of the Ukraine conflict.

Expiries

Physically Settled Futures:

RCH2 will expire 22nd February at 10:00 GMT

CLH2 will expire 22nd February at 16:00 GMT

CGBH2 will expire 24th February at 16:00 GMT

 

Expiring CFDs:

NATGASUSMAR22 will expire 22nd February at 16:00 GMT

SUGARNYMAR22 will expire 24th February at 16:00 GMT

Key Events this Week:

Tuesday: German IFO, US PMI

Wednesday: EU HICP

Thursday: US GDP New Home Sales

Friday: German GDP, EU Consumer Confidence, Durable Goods Orders

Earnings:

Tuesday: HSBC, Home Depot

Wednesday: Rio Tinto, Iberdrola, Stellantis

Thursday: Safran,  Anheuser Bush Inbev, Axa, Deutsche Telekom, Royal Bank oc Canada. Alibaba, Moderna, Newmont Mining

Friday: BASF

Saturday: Berkershire Hathaway. 

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