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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 February 27 2024

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Good Morning,

Tech remains strong given if slightly off the highs as traders try to decide what focus on next. Yesterday the Dow lost 0.15%, the S&P 500 0.4% and the Nasdaq 0.13%.

The USD Index fell to 103.70 while 10 Year yields are at 4.28. EURUSD is 1.0858 , GBPUSD 1.2690 and USDJPY 150.4 after a higher CPI in Japan.

Gold and Silver are 2033 and 22.60, Bitcoin jumped to 56k.

Headlines are:

  • Israel agrees to halt attacks during Ramadan
  • US is once again approaching the debt ceiling
  • Inflation in Japan 0.2% higher than expected
  • Macron did not rule out sending troops toUkraine.

 

Sentiment is a bit tricky to read ahead of the  US and EU inflation data on Thursday and Friday but I suggest to remain nimble and open minded.

We have two key articles to digest today by Peter and Kim:

Earnings Watch: Salesforce, Snowflake, and Leonardo
Technical Update - Nvidia: Buyers running out of steam? Or potential to much higher price levels? See here how and why?

Key Data:

Tuesday
- Data Japan CPI, US Durable Goods & Consumer Confidence
 - Earnings: Bank of Nova Scotia, Bank of Montreal, Sempra, Constellation Energy, Lowe's, Muenchener Rueck, AutoZone, American Electric Power

Wednesday
- Data Australia CPI, EU Consumer Confiddence,  US GDP
- Earnings: Oversea-Chinese Banking, Holcim, Royal Bank of Canada, TJX Cos, Salesforce, Snowake, Monster Beverage, Universal Music, Reckitt Benckiser

Thursday
- Data CH FX  Reserves, DE Unemployment Rate, US PCE, Initial Jobless claims 
- Earnings: Alimentation, Anheuser-Busch, CRH, NetEase, Dell Technologies, Autodesk, London Stock Exchange Group

Friday
- Data EU HICP  International PMI, NO Nonfarm Payroll

Expiries

Physically Settled Futures

FLGH4 will expire 27 Feb 2024 at 16:00 GMT
TTFMH4 will expire 27 Feb 2024 at 10:00 GMT
EMAH4 will expire 28 Feb 2024 at 10:00 GMT
TNH4 will expire 28 Feb 2024 at 10:00 GMT
UBH4 will expire 28 Feb 2024 at 10:00 GMT
XCH4 will expire 28 Feb 2024 at 10:00 GMT
XKH4 will expire 28 Feb 2024 at 10:00 GMT
XWH4 will expire 28 Feb 2024 at 10:00 GMT
Z3NH4 will expire 28 Feb 2024 at 10:00 GMT
HGH4 will expire 28 Feb 2024 at 16:00 GMT
SIH4 will expire 28 Feb 2024 at 16:00 GMT
ZBH4 will expire 28 Feb 2024 at 16:00 GMT
ZCH4 will expire 28 Feb 2024 at 16:00 GMT
ZLH4 will expire 28 Feb 2024 at 16:00 GMT
ZMH4 will expire 28 Feb 2024 at 16:00 GMT
ZNH4 will expire 28 Feb 2024 at 16:00 GMT
ZSH4 will expire 28 Feb 2024 at 16:00 GMT
ZWH4 will expire 28 Feb 2024 at 16:00 GMT
SBH4 will expire 29 Feb 2024 at 16:00 GMT

 

Expiring CFDs

COPPERUSMAR24 will expire on 27 Feb 2024 at 16:00 GMT
CORNMAR24 will expire on 27 Feb 2024 at 16:00 GMT
GASOLINEUSMAR24 will expire on 27 Feb 2024 at 16:00 GMT
HEATINGOILMAR24 will expire on 27 Feb 2024 at 16:00 GMT
SILVERMAR24 will expire 27 Feb 2024 at 16:00 GMT
SOYABEANSMAR24 will expire 27 Feb 2024 at 16:00 GMT
SOYABEANOILMAR24 will expire 27 Feb 2024 at 16:00 GMT
SOYABEANMEALMAR24 will expire 27 Feb 2024 at 16:00 GMT
SUGARNYMAR24 will expire 27 Feb 2024 at 16:00 GMT
WHEATMAR24 will expire 27 Feb 2024 at 16:00 GMT
OILUKAPR24 will expire 29 Feb 2024 at 16:00 GMT

Quarterly Outlook

01 /

  • Macro Outlook: The US rate cut cycle has begun

    Quarterly Outlook

    Macro Outlook: The US rate cut cycle has begun

    Peter Garnry

    Chief Investment Strategist

    The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c...
    Read full article
  • Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Quarterly Outlook

    Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Althea Spinozzi

    Head of Fixed Income Strategy

    Read full article
  • Equity Outlook: Will lower rates lift all boats in equities?

    Quarterly Outlook

    Equity Outlook: Will lower rates lift all boats in equities?

    Peter Garnry

    Chief Investment Strategist

    After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto...
    Read full article
  • FX Outlook: USD in limbo amid political and policy jitters

    Quarterly Outlook

    FX Outlook: USD in limbo amid political and policy jitters

    Charu Chanana

    Chief Investment Strategist

    As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ...
    Read full article
  • Commodity Outlook: Gold and silver continue to shine bright

    Quarterly Outlook

    Commodity Outlook: Gold and silver continue to shine bright

    Ole Hansen

    Head of Commodity Strategy

    Read full article
  • FX: Risk-on currencies to surge against havens

    Quarterly Outlook

    FX: Risk-on currencies to surge against havens

    Charu Chanana

    Chief Investment Strategist

    Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperfo...
    Read full article
  • Equities: Are we blowing bubbles again

    Quarterly Outlook

    Equities: Are we blowing bubbles again

    Peter Garnry

    Chief Investment Strategist

    Explore key trends and opportunities in European equities and electrification theme as market dynami...
    Read full article
  • Macro: Sandcastle economics

    Quarterly Outlook

    Macro: Sandcastle economics

    Peter Garnry

    Chief Investment Strategist

    Explore the "two-lane economy," European equities, energy commodities, and the impact of US fiscal p...
    Read full article
  • Bonds: What to do until inflation stabilises

    Quarterly Outlook

    Bonds: What to do until inflation stabilises

    Althea Spinozzi

    Head of Fixed Income Strategy

    Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain ...
    Read full article
  • Commodities: Energy and grains in focus as metals pause

    Quarterly Outlook

    Commodities: Energy and grains in focus as metals pause

    Ole Hansen

    Head of Commodity Strategy

    Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities i...
    Read full article

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