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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
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.
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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.
Tuesday Feb 25, 2025
Tuesday Feb 25, 2025
Today's slide deck: https://bit.ly/4ibC6x2 -
Today we look at the ugly rollover in risk assets as markets fret the geopolitical backdrop and perhaps rein in risk exposure ahead of the most important earnings event of the quarter: Nvidia's, which reports after the market close on Wednesday. We also talk the blistering pace of geopolitical developments and policy moves from the Trump administration as well as asking what Europe does next. On today's call are Saxo Global Head of Investment Strategy Jacob Falkencrone and 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.
Friday Feb 21, 2025
Friday Feb 21, 2025
Today's slide deck: https://bit.ly/431GGtt -
Today we look at the pivotal German election this weekend and a number of scenarios in what will inevitably prove a weak showing for the centrist parties. We also discuss the implications of Walmart's weak outlook and look ahead at the most pivotal earnings event of the quarterly cycle: the post-Wednesday close Nvidia report. The latest on FX and more also on today's pod, which features Saxo Global Head of Investment Strategy Jacob Falkencrone, with Saxo Global Head of Macro Strategy John J. Hardy hosting.
Jacob's piece on Ali Baba's earnings.
John's latest FX Update on JPY, German election and more.
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 Feb 18, 2025
Tuesday Feb 18, 2025
Today's slide deck: https://bit.ly/3EVhtGQ -
European equity markets are on fire this year, and European defense stocks have lifted aggressively in recent days on fears that the entire transatlantic alliance is collapsing and will require a massive fiscal boost across Europe if it is to defend itself in a new geopolitical backdrop. We pick through one interesting angle on EU defense spending, break down the latest action in FX and commodities and much more as the world seems to spin faster and faster every day. Today features Saxo Head of Commodity Strategy Ole Hansen and Saxo Global Head of Macro Strategy John J. Hardy hosting.
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.