Saxo Market Call

Today's slide deck: https://bit.ly/38XYpE8 Today a look at so many assets perched near interesting levels, including the S&P500 Index, several USD pairs, oil and more, and whether the start of the earning season this week sees the market able to continue bulling higher on the perceived support of liquidity, or taking a more cautious stance. Today with Ole Hansen on commodities and John J. Hardy on FX.

Today's slide deck: bit.ly/3emBun6The contours of a rebound yesterday were shattered first on new US regulation hitting Huawei and other Chinese technology companies and then rapidly surging confirmed COVID-19 deaths in Florida spooking the market. This is driving a renewed uncertainty over demand destruction as indicators suggest consumers are again changing behaviour in the Sun Belt states. Oil is following oil lower confirming our $30-40/brl range for now. We also talk about copper momentum driven by supply constraints from copper mines shut down in Chile due to COVID-19. We also talk about the Q2 earnings season starting next week and which got off to a bad start with Walgreens earnings yesterday missing estimates by 30%. Today with Peter Garnry on equities and Ole S. Hansen on commodities.

Today's slide deck: bit.ly/2DjLnotJust as we thought risk was headed lower things have reversed across equities with US technology stocks extending momentum and Chinese equities jumping higher again today reaching highest levels since 2015. Gold has staged a strong and convincing breakout of the 1,800 level with lower real yields and rising uncertainty over COVID-19 outlook driving the momentum. EURUSD is also higher with the 1.1400 potentially in sight and especially if we get strong initial jobless claims. Today with Peter Garnry on equities.

Today's slide deck: bit.ly/3gAUjEsYesterday's session brought a breakdown of risk sentiment with the VIX jumping to almost 30 and equities falling extending a bit this morning. Gold is getting close to pushing through the 1,800 level which could prove significant and attract a lot long bets from CTAs. Oil has failed to push higher amid weakness in equities and concerns over demand as the COVID-19 outbreak worsens in the Sun Belt states. We are touching on Chinese equities and currency today which have strengthen dramatically over the past two weeks. Today with Peter Garnry on equities and Kay-Van Petersen on macro.

Today's slide deck: bit.ly/3dZGOfSMarkets are retreating a bit this morning after a very strong cross-asset session yesterday. Equity futures are trading lower in Europe and the US, and brent crude is also not managing to break out as demand worries are increasing over potential new lockdowns in Sun Belt states in the US. We also talk Samsung's preliminary Q2 earnings numbers suggesting strong demand for smartphones, and we focus on the online fashion retailer Boohoo which saw its shares decline 23% yesterday on reports of labour issues among its retailers. Today with Peter Garnry on equities and Ole Hansen on commodities.

Today's slide deck: bit.ly/2ABd9vSMarkets are starting the week on a strong note with Chinese equities up 8% on bullish market sentiment delivered in one of the key state-run media. It is cascading into European and US equity markets pushing higher together crude oil testing key resistance levels and EURUSD higher towards the 1.1300 level. We also talk about European banks and the divergence between copper and cocoa as an example of different impact from the pandemic. Today with Peter Garnry on equities and Ole Hansen on commodities.

Today's slide deck: bit.ly/2BWJuNXToday we offer perspective on the latest US payrolls number and the disconnect with jobless claims data, put some of the recent valuation levels in perspective and discuss how the lack of price discovery in sovereign debt due to central bank intervention is driving the narrative. A look at gold, oil, FX and much more on the call. Today with Peter Garnry on equities, Ole Hansen on equities and John J. Hardy on FX.

Today's slide deck: https://bit.ly/2VEkPEL  Today we look at another extension in the megacap tech stocks to new record highs with no participation from the broader market, and particularly note the aggressive extension in the biggest and particularly speculative names. We also look at positive US data yesterday and preview today's important US jobs data. Elsewhere, sterling is trying to make a statement while gold faltered after new highs. Today with Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/3eQ8lSfToday we look at the equity market's rally extension into quarter-end yesterday and signs of ongoing speculative interest in high-flying names like Tesla, which after yesterday's news has overtaken the market cap of energy giant ExxonMobil. A look at the Fx moves of note, gold and silver, agriculturals after yesterday's big move and more on the call. Today with Peter Garnry on equities, Ole Hansen on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/2YKjEFSToday we look at another choppy session for US equities, which recovered from another test of pivotal support areas yesterday ahead of today's session, which marks the end of the month and a crazy quarter for equities. in general we ponder the lack of response to renewed Covid19 concerns and look at whether a strong USD is a risk for equity markets here. Today with Peter Garnry on equities and John J. Hardy on FX.