Saxo Market Call
Bracing for Liberation Day
Apr 1, 2025
In this engaging discussion, Ole Hansen, a commodities expert, unpacks the market dynamics leading up to 'Liberation Day'. He dives into the recent surge in gold and its surprising position amidst a booming commodity complex. The conversation also touches on geopolitics, particularly the collaboration between China, Japan, and South Korea, and its influence on commodities. Hansen shares insights on economic indicators affecting the ECB and discusses the tech sector's response to tariff tensions, providing a comprehensive look at today's volatile markets.
22:57
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Quick takeaways
- The podcast highlights that market volatility is escalating ahead of Trump's tariff announcements, with critical psychological price points being closely monitored.
- Gold's significant rally is attributed to substantial purchases from asset managers and central banks, positioning it as a hedge against economic uncertainty.
Deep dives
Market Reactions to Tariff Announcements
The podcast examines the market's reactions leading up to significant tariff announcements, which were anticipated to escalate trade tensions. Recent sell-offs in the market, particularly the NASDAQ 100 index, indicated increased volatility, with key technical levels being monitored for potential recoveries or further declines. The discussion highlights that if selling were to continue, significant psychological price points would be critical to watch, such as the 17,775 threshold suggesting a bear market. The context provided underlines an intense focus on the impact of the incoming tariff measures and retaliatory responses from various global players, with the EU preparing its own instruments in response.
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