Saxo Market Call

Markets stumble over FOMC minutes

August 20, 2020

Today's slide deck: bit.ly/34gVia3 -
Today we look at why the markets stumbled on the release of last night's FOMC minutes, which seemed to show lukewarm enthusiasm for yield-curve-control policy. The most interesting reaction may have been in FX, where the USD backed up sharply after the prior tumble. In commodities, copper is gunning at interesting levels. On today's call are Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy on FX.

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