Saxo Market Call Crude oil and USDJPY whiplash. Tesla fans ignore shaky autonomous driving debut.
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Jun 24, 2025 Geopolitical tensions ease as Iran's response to US actions lowers crude oil prices, boosting global risk sentiment. Tesla’s autonomous driving launch sparks mixed reactions, yet the stock soars despite some shaky reports. The podcast also dives into the complexities of the gold market, influenced by a weak dollar and inflation concerns. Additionally, NATO summit dynamics reveal Spain's cautious stance on military spending while the Fed's signals shape market movements.
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Crude Oil Risk Premium Vanishes
- The $10-plus risk premium in crude oil evaporated quickly due to Iran's controlled retaliation and a ceasefire announcement.
- This caused oil prices to drop from above $80 to below $70, erasing geopolitical tension premiums.
Tesla's Autonomous Rollout & Competition
- Tesla's autonomous driving service debuted with only 10 cars, causing a strong surge in stock despite shaky performance reports.
- Competitors like Volkswagen use multiple sensors including LIDAR, which may offer more reliable autonomous capabilities.
Fed Dovishness Spurs Risk-On
- Fed vice chair Bowman indicated openness to a July rate cut, boosting Eurodollar and weakening the US dollar.
- This dovish Fed tone and easing geopolitical tension helped fuel risk-on sentiment globally.