Saxo Market Call

US stocks roar back higher, but what gives with the US dollar?

February 2, 2021

Today's slide deck: https://bit.ly/39EPYiP   -

Today we look at the tremendous snap-back rally in the US yesterday as the short squeeze phenomenon shows signs of fading, although we note that speculative froth remain in evidence. We also break down the so-far unsuccessful attempt to ramp silver prices above the 30-dollar level. In FX, we note the odd strength in the US dollar, given the backdrop and look at risks to long dated safe haven bonds if yields continue to rise. Today's call with Peter Garnry on equities, Ole Hansen on commodities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX.

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