MacroVoices #403 Daniel Lacalle: EU Economic Outlook, Inflation, Monetary Aggregates, Energy and Much More
Nov 22, 2023
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Financial expert and author Daniel Lacalle discusses recession risk, Eurozone weakness, inflation, monetary aggregate contraction, energy prices, and public sentiment towards nuclear energy in Europe on MacroVoices podcast.
Eurozone economic weakness is causing recession risk and requires attention
Last week's CPI print is not as bullish as perceived by market participants
Public sentiment in Europe towards nuclear energy has changed
Deep dives
The S&P 500 is in a bullish trend despite concerns of a recession
The S&P 500 has been experiencing a relentless advance, reaching new highs. Market participants are optimistic, believing in a soft landing narrative despite weakening macroeconomic indicators.
The US dollar is in a downward trend
The US dollar index is trading in a steeply downsloping price channel. It is currently bouncing but remains below key resistance levels. There is uncertainty as to whether the dollar will continue its downward trend or if it will find support.
Gold prices are showing bullish potential
Gold is showing strength, holding above short-term moving averages and aiming to break above key resistance levels. A break above $2,020 per ounce could pave the way for new all-time highs.
Volatility in the market is low
Volatility in the market has collapsed, with the VIX reaching a 12 handle. The options market is pricing in minimal expected moves. However, surprises can still cause a pop in volatility.
Uranium prices continue to rise
Uranium prices are in a relentless upward trend, with the U308 price above $80. The market for uranium is small but gaining attention, and further price increases are expected.
MacroVoices Erik Townsend and Patrick Ceresna welcome Daniel Lacalle to the show. They discuss everything from recession risk to Eurozone economic weakness and what’s causing it, to inflation and why Daniel says last week’s CPI print wasn’t necessary as bullish as market participants have perceived, to monetary aggregate contraction to energy prices and the upcoming OPEC+ meeting this Sunday to what’s happened to public sentiment in Europe relative to nuclear energy. https://bit.ly/47MDHEu