Morning Brew September 22 2024
Erik Schafhauser
Senior Relationship Manager
Summary: Bitcoin testing 100k!
Good morning,
In terms of data we are looking a slow day but trading wise, that may not be the case. Levels and headlines are certainly anything but boring:
- Team Trump suffered the first defeat as Matt Gaetz withdrew, Pam Bondi is nominated as Attorney general.
- Boris Pistorius will not be available as chancellor candidate at the election in February, Olaf Scholz will attempt a second term against all odds.
- Russia fired a new hypersonic intermediate-range ballistic missile in the Ukraine war.
- Bitcoin is testing the 100k
- The US Dollar is trading at a years high with the USD Index at above 107, EURUSD 1.0465, GBPUSD 1.2570, USDJPY 154.80. Gold is testing the 2690 and Silver 31
- Reuters reports the Chinese companies to be accumulating Dollars, Exporters' hoard $836 billion
- The Dow outperformed the other US Indexes as Google and Amazon pulled the Nasdaq and S%P lower.
- Snowflake surged 32.7% after reporting
- MicroStrategy is down 16% , Koen took a look at the stock
- Althea took a look at ETF
With only the US University of Michigan consumer sentiment and the S&P Global Manufacturing & Services PMIs on the agenda, be cautious of repositioning and technical level.
Next week brings us key US Data, Thanksgiving, Month End and Black Friday.
Watch out for Expiries of Futures and there are also significant option expiries in Nvidia from speculation on earnings.
Physically Settled Futures in GMT
CCZ4 will expire on 22/Nov at 1600 hrs
CTZ4 will expire on 22/Nov at 1600 hrs
PAZ4 will expire on 22/Nov at 1600 hrs
ZOZ4 will expire on 22/Nov at 1600 hrs
NGZ4 will expire on 26/Nov at 2030 hrs
FLGZ4 will expire on 28/Nov at 1600 hrs
TTFMZ4 will expire on 28/Nov at 1000 hrs
GCZ4 will expire on 29/Nov at 1600 hrs
MGCZ4 will expire on 29/Nov at 1600 hrs
HGZ4 will expire on 29/Nov at 1600 hrs
KEZ4 will expire on 29/Nov at 1600 hrs
SILZ4 will expire on 29/Nov at 1600 hrs
SIZ4 will expire on 29/Nov at 1600 hrs
TNZ4 will expire on 29/Nov at 1600 hrs
UBZ4 will expire on 29/Nov at 1600 hrs
ZTZ4 will expire on 29/Nov at 1600 hrs
ZWZ4 will expire on 29/Nov at 1600 hrs