Today's slide deck: https://bit.ly/4jHvS8G    -

Today we look at the impact of Trump's big softening on tariffs against China as well as his declaration he has no intention of firing Fed Chair Powell, asking whether this is a major reversal across the board or merely a big slow-down in the "direction of travel" toward a US-China economic decoupling. We talk gold, silver, crude oil, equities, currencies and key US earnings as everything has been roiled once again by Trump's latest rhetoric. On today's pod are Saxo Head of Commodity Strategy Ole Hansen and 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 [email protected] for feedback and questions.

Click here to open an account with Saxo.