Saxo Market Call

Friday an end-of-month blip or “sell in May and go away”?

May 3, 2021

Today's slide deck:   -

Today we look at the ugly session on Friday for equities and strong session for the US dollar and ponder whether this was a reflection of end-of-month rebalancing after a strong month for equities and very weak month for the US dollar or something more ominous. Certainly momentum in equities is looking pivotal if recent bearish divergence signs are confirmed. Also, the latest on the blistering run in grain prices and remarkable backwardation in soft markets, why gold is still stuck in a rut and key earnings reports and macro events for the week ahead. On today's call were Ole Hansen on commodities, and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

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