M

Morning Brew - July 29th

Erik
Erik Schafhauser

Senior Relationship Manager

Summary:  Fed remains accommodating, ready for Robin Hood?


Good Morning,

The Fed did a fairly good job of not spooking the market yesterday, they are talking about tapering but have not yet fixed a date. Immediately the Jackson Hole conference end of August was identified as a possible date for the presentation of a plan. Powell said in his news conference that rate increases were "a ways away" and that the job market still had "some ground to cover.

There was little reaction from the markets, most noteworthy the USD decline. The USD Index fell to 92.15, EURUSD rose to 1.1855, Cable to above 1.3930 and Gold as well as Silver rise to 1818 and 25.30.

Equities were fairly quiet with the Nasdaq ending 0.7% higher and the Dow +0.4%, the S&P 500 lost 0.02%. Facebook and PayPal fell 3.5% and 8% on good earnings but weak outlook, Boeing gained 5%

The Chinese securities regulator met with banks representatives yesterday to calm the markets and succeeding to some extent but on the week, Chinese Equities remain negative.

Today is another busy day with lots of economic data, most important probably the US GDP and the initial jobless claims at 14:30 and possibly the German CPI at 14:00 CET. Many companies report earnings : Amazon Hoya, Airbus, Anheuser Busch, Nestle, Volkswagen, Murata Manufacturing Royal Dutch Shell AstraZeneca Tota lEnergies Sanofi Keyence Oriental Land State Bank of India ,,Sberbank Rossii PAO  LG Chem Ltd, DSV, Samsung Electronics ,Enel ,American Tower Corp, Ambev Southern, Merck Intercontinental, Northrop Grumman, Altria Group, Keurig Dr Pepper ,Comcast, S&P Global ,Mastercard, Twilio, Vertex Pharmaceuticals, Edwards Lifesciences, T-Mobile US, Gilead Sciences, Atlassian Corporation

We are expecting the Robinhood IPO, the Instrument is available online now under ticker HOOD:xnas. We are accepting Limit G.T.C orders only until 1st trading day for both Shares and CFDs. Shorting expected to be available tomorrow.

 

Joe Biden affirmed a “Buy American” Policy for public spending.

Local Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

29 Jul 2021

08:00

United Kingdom

Nationwide house price mm

Jul

29 Jul 2021

08:00

United Kingdom

Nationwide house price yy

Jul

29 Jul 2021

09:30

Sweden

GDP QQ Prelim

Q2

29 Jul 2021

09:30

Sweden

GDP YY Prelim

Q2

29 Jul 2021

09:55

Germany

Unemployment Chg SA

Jul

29 Jul 2021

09:55

Germany

Unemployment Rate SA

Jul

5.8%

29 Jul 2021

11:00

Euro Zone

Consumer Confid. Final

Jul

29 Jul 2021

13:00

Brazil

IGP-M Inflation Index

Jul

29 Jul 2021

14:00

Germany

CPI Prelim YY

Jul

3.2%

29 Jul 2021

14:00

Germany

HICP Prelim YY

Jul

3.0%

29 Jul 2021

14:30

United States

GDP Advance

Q2

8.0%

29 Jul 2021

14:30

United States

Initial Jobless Clm

19 Jul, w/e

30 Jul 2021

01:30

Japan

Jobs/Applicants Ratio

Jun

1.10

30 Jul 2021

01:30

Japan

Unemployment Rate

Jun

3.0%

30 Jul 2021

01:50

Japan

Industrial O/P Prelim MM SA

Jun

5.0%

30 Jul 2021

07:30

France

GDP Preliminary QQ

Q2

0.8%

30 Jul 2021

08:00

Germany

GDP Flash QQ SA

Q2

2.1%

30 Jul 2021

08:00

Germany

GDP Flash YY NSA

Q2

10.0%

30 Jul 2021

08:00

Denmark

Unemployment Rate

Jun

30 Jul 2021

08:45

France

CPI (EU Norm) Prelim YY

Jul

30 Jul 2021

09:00

Spain

Estimated GDP QQ

Q2

2.1%

30 Jul 2021

09:00

Switzerland

KOF Indicator

Jul

30 Jul 2021

09:00

Switzerland

Official Reserves Assets CHF

Jun

30 Jul 2021

09:00

Austria

GDP Growth QQ Prelim

Q2

30 Jul 2021

10:00

Italy

GDP Prelim QQ

Q2

1.3%

30 Jul 2021

10:00

Italy

GDP Prelim YY

Q2

15.8%

30 Jul 2021

11:00

Italy

CPI (EU Norm) Prelim MM

Jul

30 Jul 2021

11:00

Italy

CPI (EU Norm) Prelim YY

Jul

30 Jul 2021

11:00

Euro Zone

HICP Flash YY

Jul

2.0%

30 Jul 2021

11:00

Euro Zone

HICP-X F&E Flash YY

Jul

0.9%

30 Jul 2021

11:00

Euro Zone

GDP Flash Prelim YY

Q2

13.2%

30 Jul 2021

11:00

Euro Zone

GDP Flash Prelim QQ

Q2

1.5%

30 Jul 2021

11:00

Euro Zone

Unemployment Rate

Jun

7.9%

30 Jul 2021

12:00

Italy

CPI (EU Norm) Prelim MM

Jul

30 Jul 2021

12:00

Italy

CPI (EU Norm) Prelim YY

Jul

30 Jul 2021

14:30

United States

Consumption, Adjusted MM

Jun

0.5%

30 Jul 2021

14:30

Canada

GDP MM

May

30 Jul 2021

16:00

United States

U Mich Sentiment Final

Jul

81.3

 

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