Saxo Market Call

High energy costs will crowd out discretionary spending

August 30, 2022

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Today we look at the lackluster session yesterday as risk sentiment found relief after the brief wipeout in the wake of the Fed Chair Powell speech on Friday. Helping to ease pressure on sentiment were the USD halting its rise and US yields easing back lower. In commodities, we look at the latest on the natural gas situation in Europe as Russia is set to shut down a key pipeline for purported maintenance. The corn and wheat outlook, pressure on discretionary spending and related consumer discretionary stocks due to soaring energy prices, upcoming earnings reports and more also on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

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