Saxo Market Call

No slide deck today as we are trying out a new quick turnaround format for some days. Let us know how you feel about it and always happy for feedback: Reach out to as at marketcall@saxobank.com  Today: extremely pivotal technical levels across US equities and in currencies ahead of a weekend that will see US-China trade talks kicking off (and where hopes are probably too high for significant developments). Also: coverage of the UK-US trade deal and what it really represents and much more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy.   Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Click here to open an account with Saxo.

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.

In this insightful discussion, Jacob Falkencrone, the Global Head of Investment Strategy, shares his perspectives on the recent recovery in tech stocks, spurred by AI spending from giants like Microsoft and Meta. He explores the implications for market sentiment and the critical levels for bearish investors. Jacob also dives into the current challenges in the labor market, tariff debates, and the latest trends in currency and commodity markets, providing a comprehensive outlook on what lies ahead for investors.

Today's slide deck: https://bit.ly/42V3jy8   -  Today we look at the remarkable degree to which the market has continued to climb the wall of worry, the risk to gold prices over the next several trading days, what the market is looking for next from earnings and Trump administration policy as volatility has dropped across most assets and much more, including some links to great content for further reading in the slide deck. Hosting today's pod is Saxo Global Head of Macro Strategy John J. Hardy. Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo.  

The podcast dives into the implications of Trump's softening stance on tariffs against China and his support for Fed Chair Powell. It analyzes how these shifts might affect US-China economic relations and various markets. Key discussions cover the impact on gold and silver prices, stock market trends, and the transformation of Tesla into an AI powerhouse. Additionally, the hosts explore upcoming corporate earnings and economic indicators, shedding light on how these factors intertwine with the tumultuous landscape of global investments.

Today's slide deck: https://bit.ly/3Yz632x   - Today we look at more market volatility on the latest US-China trade friction and look ahead to the next key event risks on the geopolitical front as US-Japan trade talks are set to get under way and with Italian PM Meloni in Washington. We also wonder whether the US equity market is shaping up for the greatest bear market in a generation as market bailouts are likely no longer a major Washington priority, among other reasons. Today's podcast hosted by Saxo's Global Head of Macro Strategy John J. Hardy.   Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo.  

Explore the evolving economic tensions between the U.S. and China as tariffs shape global trade dynamics. Delve into how supply chain disruptions influence inflation and consumer behavior. Discover the impacts of market volatility amid trade frictions, affecting commodities like crude oil and gold. Tune in for insights on currency trends, with a focus on Australia and China, as economic indicators and U.S. monetary policy add complexity to the landscape. Will diplomatic efforts bring a resolution, or are we in for a prolonged standoff?

A historic plunge in U.S. markets follows the announcement of tariffs that heighten recession fears. The discussion dives into how companies like Nike and major tech giants are grappling with these supply chain challenges. Meanwhile, a strong euro complicates Europe's economic landscape as OPEC+ influences crude oil prices. The precious metals market, particularly silver, experiences significant shifts, prompting insights into gold's long-term prospects. Employment data hints at potential slowdowns, while geopolitical tensions add to the market's uncertainties.

Trump's historic tariff announcements have sent shockwaves through global markets, prompting a defensive stance among investors. The discussion delves into the implications for U.S. fiscal stability and highlights the generational changes in economic dynamics. The potential fallout for major corporations, especially in China and the EU, is explored, along with possible retaliatory actions from affected nations. Additionally, the podcast addresses how these tariffs may influence unemployment rates and the Federal Reserve's monetary policies.

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.