Saxo Market Call

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.

The discussion centers on Trump's potential softening stance on tariffs, sparking optimism in global markets. Insights about upcoming earnings from companies like H&M and Nike raise concerns about stock bubbles amid economic challenges. The impact of tariffs on international currencies, particularly the yen, is analyzed, alongside U.S. labor market trends. Unique observations on Denmark's electric vehicle boom contrast with their limited road presence, while inflation trends in the hospitality sector hint at deeper economic challenges.

Today's slide deck: https://bit.ly/3DLe6SW   - The US market found some more solid buying support than it has in a while, but not yet enough to turn the technical tide. We look at what forces could drive the market in either direction, but suspect that US under-performance relative to a hard charging Europe may be here to stay for a while. A thorough look at FX, gold and silver, important links, the macro calendar and more on today's pod, which features Ole Hansen on commodities and John J. Hardy on FX and Macro. John's latest FX Update. 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.

Discover the latest trends in the commodities market as experts dive into the potential for silver to surge if it breaks the $35 threshold. Learn about gold trading at an astounding $3,000 per ounce and the psychological effects on investors. The podcast also explores the impact of U.S. budget concerns on precious metals and the intricate dynamics of the oil market influenced by geopolitical tensions. With a focus on historical market behavior, listeners gain insights into future pricing and economic implications.

Today's slide deck: https://bit.ly/43zRWgK     - Today we look at the massive further slide in US equities, which has taken the Nasdaq 100 to the next significant support point. We also note the reasons that the US has been in for an exceptional pounding relative to the rest of the world, have a look at key commodities like gold, oil and grains, rundown the latest in and FX, the latest link-a-palooza and a VERY important event risk on Friday of this week. Today's pod features Saxo Head of Commodity Strategy Ole Hansen, with Global Head of Macro Strategy John J. Hardy hosting. Link to Ole's COT Report analysis Link to John's latest FX Update   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.

In this discussion, Ole Hansen, Saxo's Head of Commodity Strategy, shares insights on the escalating bear market risks in the U.S. and the surge of the Euro. He delves into the current dynamics of the oil and commodities markets, highlighting the complexities caused by tariffs and innovation in mining technology. The conversation also touches on geopolitical tensions affecting market fluctuations and the implications of U.S. foreign policy on global economics, focusing on relationships with Russia and China.

Discover the monumental shifts in EU fiscal policies as Germany announces a massive €500 billion infrastructure deal. Unpack the implications for European bonds and the euro amidst evolving economic strategies. Dive into the intriguing world of cryptocurrencies and Trump's mixed signals regarding regulation, especially concerning money laundering risks. Explore the interconnections between U.S. policies and global trade dynamics, revealing market reactions and potential pitfalls for economic stability.

Amidst rising tensions from recent tariff announcements, the podcast discusses the potential impact on currency markets and tech stocks. Volatile trends in the cryptocurrency space raise concerns about manipulation, while geopolitical factors are explored in the context of defense stocks and investment flows. The strength of the U.S. dollar poses challenges for Europe, with stagflation risks looming. Insights into China's focus on private sector stimulus and the implications of an upcoming Trump speech add to the intrigue, along with the evolving landscape of AI investments.