Saxo Market Call
Macro: When speech trump numbers
May 28, 2024
Charu Chanana and Søren Otto discuss the importance of Fed speeches vs. economic data, Eurozone rate cut predictions, and the viability of carry trading in the summer. They also touch on central bank rate cuts, currency trading, and the Chinese Yuan, as well as insights on commodities and crypto markets including OPEC meetings and Ethereum ETF approvals.
21:42
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Quick takeaways
- Market reactions depend on Fed speeches and diverging views among members.
- Eurozone anticipates ECB rate cut and improved market sentiment with stabilizing growth metrics.
Deep dives
US Market: Mixed Signals and Fed Rate Cuts
The US market reflects a state of caution amidst mixed signals from recent data. Despite the confusion, markets anticipate Fed rate cuts due to relief on the inflation front. The economy appears to have a dual nature, with aspects resilient to high interest rates while others struggle. Market reactions hinge on signals from Fed speeches and diverging views among Fed members.
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