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For the aspirational trader and financial markets professional. Coming at you two to three times a week, the Saxo Market Call is the high frequency podcast for real-time analysis of the financial markets across asset classes, from forex and rates to equities and commodities.
Episodes
4 days ago
4 days ago
Today's slide deck: https://bit.ly/3DLe6SW -
The US market found some more solid buying support than it has in a while, but not yet enough to turn the technical tide. We look at what forces could drive the market in either direction, but suspect that US under-performance relative to a hard charging Europe may be here to stay for a while. A thorough look at FX, gold and silver, important links, the macro calendar and more on today's pod, which features Ole Hansen on commodities and John J. Hardy on FX and Macro.
John's latest FX Update.
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.
Friday Mar 14, 2025
Friday Mar 14, 2025
Today's slide deck: https://bit.ly/3DwZZR8 -
Today we run down some small divergences that could spell near term relief on risk sentiment, even if there is a steep hill to climb to significantly reverse this market rise. We also discuss gold trading at $3,000 per ounce and whether silver is set for brisk and large rally higher if it can break above the 35+ dollar per ounce level. Thoughts on crude oil, copper, a great set of links for further reading and much more also on today's pod, which features Saxo Head of Commodity Strategy Ole Hansen and Saxo Global Head of Macro Strategy John J. Hardy.
John's latest FX Update
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.
Tuesday Mar 11, 2025
Tuesday Mar 11, 2025
Today's slide deck: https://bit.ly/43zRWgK -
Today we look at the massive further slide in US equities, which has taken the Nasdaq 100 to the next significant support point. We also note the reasons that the US has been in for an exceptional pounding relative to the rest of the world, have a look at key commodities like gold, oil and grains, rundown the latest in and FX, the latest link-a-palooza and a VERY important event risk on Friday of this week. Today's pod features Saxo Head of Commodity Strategy Ole Hansen, with Global Head of Macro Strategy John J. Hardy hosting.
Link to Ole's COT Report analysis
Link to John's latest FX Update
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.
Friday Mar 07, 2025
Friday Mar 07, 2025
Today's slide deck: https://bit.ly/4bvm276 -
Today we look at the US stock market correction crossing its first key technical Rubicon as bear market risks ratchet higher. We also discuss the spiking Euro, Japan's likely desire to get USDJPY a lot lower, key commodities markets like oil, natural gas and copper and much more. Today's pod features Saxo Head of Commodity Strategy Ole Hansen and Saxo Global Head of Macro Strategy John J. Hardy.
Link to John's latest FX Update:
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.
Wednesday Mar 05, 2025
Wednesday Mar 05, 2025
Today's slide deck: https://bit.ly/4hVKEbD -
Today we unpack the historic paradigm shift as the EU and Germany have unveiled titanic fiscal initiatives that are altering the landscape for European bonds and the euro. Also, we look at whether there is a Trump put, and ponder whether Trump's moves on crypto and to supercharge money laundering risks are a feature as much as a bug.
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.
Click here to open an account with Saxo.
Tuesday Mar 04, 2025
Tuesday Mar 04, 2025
Today's slide deck: https://bit.ly/4bsNZML -
Markets are on technical and even an emotional edge as Trump tariffs have gone forward and as speculation swirls that Trump will announce something particularly dramatic at a speech later today. From currencies and gold to US tech and European defense, we have a look at what may come next, including the risk of a big risk-off "whoosh" here. Today's pod features Saxo Head of Commodities Strategy Ole Hansen and Saxo Global Head of Macro Strategy John J. Hardy.
John's latest FX Update
Ole's latest weekly COT Report update
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.
Click here to open an account with Saxo.
Friday Feb 28, 2025
Friday Feb 28, 2025
Today's slide deck: https://bit.ly/3DnFXrX -
Yesterday's combination of Trump tariff threats and weak US data spooked the market further, as did the technical implications of a breakdown through first key support levels in the Nasdaq 100 index a day after Nvidia earnings. Today we run down the really critical support levels that must hold to avoid a bigger meltdown or even bear market kick-off. We also look at why some assets are moving as they are, and what to look at next with a very busy geopolitical and economic calendar next week. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy.
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.
Click here to open an account with Saxo.
Thursday Feb 27, 2025
Thursday Feb 27, 2025
Today's slide deck: https://bit.ly/43cR9Ck -
Today we break down Nvidia's earnings report. Long story short: its earnings don't look like they will be the trigger for the broader market direction from here, so now the market can do what it wanted to do with this distraction out of the way. Plenty more to talk about today, from the latest on Trump tariffs and US continuing to alter the geopolitical landscape to what is driving a huge ramp in one very old German stock. Today's pod features Global Head of Investment Content Jacob Falkencrone and Global Head of Macro Strategy John J. Hardy
Jacob's piece on Nvidia's latest earnings report
Jacob's piece on Tesla
Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.
Please reach out to us at marketcall@saxobank.com for feedback and questions.