Saxo Market Call Bears hang in at key levels as Palantir rides the retail whirlwind
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May 6, 2025 The conversation dives into the U.S. bearish market trends and resistance levels. Palantir faces challenges despite a positive earnings report, reflecting on its high valuation. There's a rise in gold prices tied to market uncertainty and crude oil fluctuations due to geopolitical events. The dynamics between the U.S. dollar and Japanese yen are examined, hinting at potential future shifts. Comparisons are drawn to the 2008 financial crisis, setting the stage for the implications of upcoming economic events.
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US Bears vs Europe Bulls
- The US equity indices face a bearish case as key resistance levels hold firmly.
- Europe shows strength, moving towards all-time highs, contrasting US market weakness.
Asian Currency Volatility Rising
- Asia's currencies show notable volatility, with Taiwan's dollar moving 6% in days.
- This could reflect a shift away from the US dollar ahead of trade talks or a gradual revaluation by China.
Gold Rebound From Asia Demand
- Gold has rebounded strongly, driven largely by renewed Asian demand after China's holiday.
- Price levels and momentum suggest ongoing appetite for gold as a store of value.