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Leveraged products (e.g., CFDs, Forex (FX) including crypto/fiat, options) are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. 0.90% of retail clients trading in leveraged products experience a negative account balance after a stop-out occurred. 
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Leveraged products (e.g., CFDs, Forex (FX) including crypto/fiat, options) are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. 0.90% 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, FX, or any of our other products work and whether you can afford to take the high risk of losing your money.
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Erik Schafhauser Zürich

Morning Brew August 8 2022

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Good Morning,

 

A higher than expected Payroll let worries of a 75 basis point hike increase, US Yields jumped higher across the board, strengthened the US and weighed on stocks. Over the weekend we are seeing some recovery. The USD Index traded as high as 106.93 on Friday and receded to 106.50 now. The 2 / 10 year spread in the US Yields hit 40 basis points.

EURUSD hit 1.0140and gained to 1.0185. GBPUSD 1.2003/ 1.2080 and USDJPY 135.50/135.30. Gold and Silver fell to 1765 and 19.55 before recovering to 1775 and 19.92.

Indexes fell moderately as the stronger than expected labor market and the rate fears offset one another. The S&P 500 declined 0.15%, the Dow Jones gained 0.23% and the Nasdaq declined by 0.5%.

The US Senate approved Bidens spending bill to the tune of USD 430 Billion, a major democratic win.

Tensions around Taiwan remain high as China extends it`s military drills and Taiwan also announced military exercises while in Ukraine fighting around the  Zaporizhzhia Nuclear Power plant continues as major causes for concern.

Chinese trade data came high than expected yesterday with exports up 18% vs 15 expected.

Moody's had cut Italy's outlook to negative after the resignation of Mario Draghi

 SoftBank posted a loss of USD 23.37 billion in the first Japanese Quarter form April to June.

This week starts with little economic data of high significance, the US productivity data tomorrow and the Chinese , German and US Inflation data on Wednesday will be watched carefully for hints on the path of the central banks.

Trade safely

Key Earnings:

  • Monday: Barrick Gold, Siemens Energy, Nippon Telegraph & Telephone, SoftBank Group, Tokyo Electron, Dominion Energy, BioNTech, AIG, Tyson Foods, Palantir Technologies, Take-Two Interactive
  • Tuesday: Alcon, Globalfoundries, Roblox, Trade Desk, Coinbase Global, Akamai Technologies, Plug Power, Unity
  • Wednesday: Commonwealth Bank of Australia, Vestas Wind Systems, Genmab, E.ON, Honda Motor, Prudential, Aviva, Walt Disney, Coupang, Illumina
  • Thursday: KBC Group, Brookfield Asset Management, Orsted, Novozymes, Siemens, Hapag-Lloyd, RWE, China Mobile, Antofagasta, Zurich Insurance Group, NIO, Rivian Automotive
  • Friday: Flutter Entertainment, Baidu

Expiries

  •         Physically Settled Futures:
  • Low Sulphur Gasoil (FPQ2) will expire 10th Aug at 15:00 GMT
  • Lean Hogs (HEQ2) will expire 12th Aug at 17:00 GMT

     

  • Expiring CFDs:
  • GASOILUKAUG22 will expire 9th Aug at 15:00 GMT
  • LEANHOGSAUG22 will expire 10th Aug at 15:00 GMT

 

 

 

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