Saxo Market Call How the USD bear case finds confirmation
5 snips
Feb 11, 2025 The podcast dives into the potential for a USD bear case, highlighting recent developments in U.S. steel tariffs and their effects on the market. A closer look reveals shifts in tech stocks, particularly in the AI sector. The discussion also touches on rising prices for gold, silver, and Arabica coffee due to supply issues and economic policies. Additionally, it examines consumer struggles through retail sales data, connecting these insights to upcoming U.S. Treasury auctions and broader market sentiment.
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Tariff Impact
- Trump's steel and aluminum tariffs caused a market dip going into the weekend.
- Speculative trading erased those losses, bringing the market back to pre-tariff levels.
Cleveland Cliffs Stock Surge
- Cleveland Cliffs, a U.S. steelmaker, saw its stock jump by almost 18%.
- This surge followed the announcement of new tariffs on steel and aluminum.
Japanese Yen Trend
- The Japanese yen is consistently trending upwards against other major currencies.
- This is driven by the tightening Bank of Japan policy and rising Japanese yields.