Saxo Market Call

Link to slide deck: https://bit.ly/3ZPdT7e   -

Today, we look at the US equity market reacting poorly to bad US economic data yesterday rather than celebrating the drop in treasury yields to new cycle lows, an interesting change of behavior. We also look at the suddenly firming US dollar and an even firmer Japanese yen overnight, just a day after the Bank of Japan triggered a slide in the yen. Gold holding steady through all of the fuss, while cyclical commodities rolled over a bit as China is set to go off line next week for the Lunar New Year holiday. Today's pod features Ole Hansen on commodities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

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Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3kpPRzF   -

Today, we look at the jolt back to the downside for the JPY after wily Bank of Japan governor Kuroda failed to deliver further policy tweaks and looks set to end his time at the helm in April without offering further policy tightening. Still, the JPY may not sell-off much more beyond the knee-jerk as bond yields are on the decline, keeping spreads to "capped" Japanese yields orderly and even tighter. Elsewhere, we note easign financial conditions and plenty of USD liquidity and whether it has the potential to driver further gains for risky assets and a weaker US dollar. We also dive into the latest on crude oil and metals, and earnings reports and macro data up today in the US. Today's pod features Ole Hansen on commodities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3XeSVgD   -

Today, we look at the upcoming Bank of Japan meeting, noting the extreme anticipation around the event, together with the likelihood of considerable intraday volatility in the wake of the event, even if the Bank of Japan tries to deliver as little as possible, as we all know that new leadership and a likely further tightening of policy is in the pipeline with Kuroda's replacement after April. A look at crude oil, copper, upcoming earnings and macro data and more on today's pod, which features macro strategist Charu Chanana on the BoJ, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3ZFqklV   -

Today, we look at an interesting week ahead as US equities continue to trade up against a pivotal resistance area (just above the 200-day moving average and just below the 4,000 level for the US SP& 500 index) as earnings season set for a big blast next week. Today US markets are closed. The event risk of the week, meanwhile, is the hotly anticipated Bank of Japan meeting on Wednesday, with markets unsure on whether Governor Kuroda and company are set to deliver further policy tweaks. Futures positioning in commodities, especially metals and the latest on natural gas in Europe and more on today's pod, which features Ole Hansen on commodities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3ZvKoaz   - 

Today we look at the ironically in-line US CPI release yesterday and the market eventually deciding that the data was benign. Equity markets rallied into very critical resistance levels as US treasury yields dipped into the range lows and financial conditions eased. While the US dollar was weaker, the big mover in FX was the JPY, which is pounding stronger into anticipation of a further policy tweak at next Wednesday's Bank of Japan meeting. In commodities, we look at the jump in grains on the WASDE report, talk natural gas, metals as gold has traded into key levels after the CPI release and more. Today's pod features Ole Hansen on commodities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3k03vco     -

Today we look at global equity markets gunning for more to the upside, apparently expecting a benign US CPI release today and pricing in a soft landing scenario as long treasury yields settled back lower after a strong US 10-year treasury auction yesterday. We also look at a resurgent JPY, why the euro is strong, but some thoughts on longer term caution, coffee and grains in commodities, the latest expansion plans abroad from TSMC, weak housing news but strong housing stocks & more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3vRPi3Y   -

Today we discuss the bounce-back in US equity markets as we are all supposedly holding our breath for a CPI release tomorrow when the last soft CPI release in December drove zany intraday volatility and a rally that was quickly erased - etching out a market top at the time. Elsewhere, we discuss the conflicting signals from expanding US credit while another sentiment survey disappoints, look at strong metals markets as a clear expression of hopes for a China-driven recovery, Apple's deepening vertical integration moves as it looks to ditch Samsung screens, and much more. Today's podcast features Peter Garnry on equities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic

Link to slide deck: https://bit.ly/3QpVrOp   -

Today we note that the major European equity markets have come full circle since the Russian invasion of Ukraine last February, in part driven by a near freefall in natural gas prices over the last few weeks on mild weather. How much more can the market wring out of this development? We also note the reversal in the US equity market rally yesterday ahead of the important CPI data on Thursday. In equities, focus toward the end of the week on the major US banks reporting, but in the meantime, we have the important news for Google of a $10 billion investment in OpenAI as the future of internet search is heating up for the first time in many years. This and more on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

Click here to open an account with Saxo   -

Intro and outro music by AShamaluevMusic