SAXO INVESTMENT STRATEGY
Dollar firms as markets brace for Iran response to US attacks
Amidst heightened Middle East tensions following U.S. attacks on Iranian nuclear sites, the dollar saw a slight boost as investors sought safety. Oil prices surged to a five-month high, while global stocks experienced a dip. Currency markets are closely monitoring Iran's response, with potential inflationary impacts outweighing economic concerns, as geopolitical tensions continue to unfold.
Oil under $65 a boon for consumers, but a burden on producers
Oil prices have plummeted to pandemic-era lows due to factors like Trump's tariffs, increased OPEC+ output, and calls to boost drilling. This benefits consumers through lower inflation and increased disposable income, but it hurts oil-producing nations, especially high-cost producers and those heavily reliant on oil revenues.
Markets cheer court ruling to block Trump tariffs
American stock futures saw a surge. The dollar also strengthened. This happened after a U.S. court put a stop to President Donald Trump's tariffs. The court ruling led to positive market reactions. Analysts suggest caution. They cite the possibility of appeals. The long-term impact on trade remains uncertain. Investors are closely monitoring developments.
Gold braces for worst month in over a year on Trump-driven sell-off
Gold prices rose on Friday due to a weaker dollar and continuing geopolitical tensions. However, they are still on track for their worst monthly loss since September last year. The uncertainty in the market, driven by geopolitical events and economic policies, has influenced gold prices. Other metals like silver, platinum, and palladium also saw gains.
Asian stocks set to slide as Nvidia disappoints
The outlook threatened to cool an AI frenzy that has transformed Nvidia into the world’s second-most-valuable company. The chipmaker is the key beneficiary of a race to upgrade data centers to handle AI software, and its sales forecasts have become a barometer for that spending boom.
High-speed traders, short sellers face growing Asia crackdown
The controversial nature of such restrictions is on full display in South Korea, where a short-selling ban hurt its attempts to win an upgrade from MSCI Inc. These developments show the difficulties policymakers have in keeping up with increasingly sophisticated trading strategies and their impact on financial markets, a challenge that’s only set to grow with the adoption of artificial intelligence.
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Nikkei soars, dollar steady ahead of US inflation report
Bitcoin remained strong after crossing $50,000 for the first time in over two years, thanks to inflows into exchange traded funds backed by the digital asset. It was last at $49,897.
Some fund managers see merit in China's deeply discounted stocks
U.S. asset manager Fidelity International is highlighting China's looser monetary policy and the government's recent 1 trillion yuan ($137.10 billion) borrowing-and-spending sovereign bond plan as a tailwind for the country's stock markets.
Bitcoin soars to near 18-month high as ETF speculation mounts
Bitcoin rose 6% on Tuesday to to $35,198, its highest in nearly a year-and-a-half, on mounting speculation that an exchange-traded bitcoin fund is imminent.
Bitcoin tops $35,000, leaps to 2023 high on ETF bets
Bitcoin rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023.
Gold firms on weaker dollar, yet limited by Fed rate hike path
Gold rose on Friday as the dollar remained weak, though gains were limited by expectations of further interest rate hikes in the US. Despite this, traders still see a 74% chance of a July 2023 25-basis-point rate hike, according to CME's FedWatch tool. Higher interest rates decrease the appeal of zero-yielding gold. Nevertheless, investors have been looking to buy gold on weakness. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, saw outflows this week, attributed to gold's being less exciting than stocks. Silver rose 1.4% to $24.20 per ounce and palladium fell 0.2% to $1,396.62.
Russian sanctions shift oil price-making power to Asia from Europe
Analysts and government officials from consumer countries use the term Asian premium to refer to the higher prices Asian importers have paid for oil sold by big exporters, such as members of the Organization of the Petroleum Exporting Countries. For Asia, a weakened premium amounts to an economic stimulus, highlighting another unintended consequence of the Western sanctions on oil and gas exporter Moscow, which also led to a surge in the amount Europeans have paid for natural gas.
Rishi Sunak to be UK prime minister: What you need to know
His predecessor Liz Truss was brought down after just six weeks in office by her economic programme which roiled financial markets, pushed up living costs for voters and enraged much of her own party
Gold hits more than 2-year low on dollar strength, Fed concerns
Spot gold XAU= was down 1.7% at $1,642.79 per ounce by 1058 GMT and was heading for its second straight weekly decline, down 1.8%. U.S. gold futures GCv1 fell 0.5% to $1,672.10.
After the rally: Here’s what could still go wrong for stocks
While most Wall Street strategists remain positive on equities amid a lack of alternatives, here are five things that could ruin the party:
Chinese tech’s brief revival is already showing signs of fatigue
The rally in the Hang Seng Tech Index, which tracks Chinese tech stocks listed in Hong Kong, fizzled out toward the end of this week amid headlines of fresh China tech crackdown, trimming its weekly gain to 7.3%.
FOMO playing out in copper; industrial metal hits new peak
Three-month copper on the London Metal Exchange climbed to an all-time high of $10,747.50 a tonne after first breaking through a decade-old record on Friday.
Copper prices nearing $10,000 mark on Fed stimulus pledge
The last time copper rose above $10,000 was in February 2011, when it touched an all-time record of $10,190.
Bitcoin rebounds past $53,000 after hitting lowest since March
The largest cryptocurrency dropped as low as $47,079 in early Asia trading before rebounding. It was up 5.3% at $50,666.
Laser focus on costs has brightened the 2021 outlook for stocks
“I feel quite optimistic that we’ll be back to earnings levels that are the highest on record again” by mid-year, said Peter Garnry, head of equity strategy at Saxo Bank A/S. Underpinned by massive fiscal and monetary stimulus, 2021 is set to be a “much better year.”
Election rally is feeding the duration monster in stock markets
Growth stocks had their best day versus value since 2001 on Wednesday, defying countless warnings that the valuation gap was reaching levels seen in the dot-com bubble.
Palladium jumps above $2,000 amid optimism over China reopening
It has dropped about a third since hitting a record in late February as the coronavirus pandemic dented demand.
Wall Street fears ‘hard rollover’ of risks after September calm
Options are pricing in heightened risk of a “big move in the near term”.
Want to win the trade war? Long the dollar
With bullion last week posting its worst first-half performance in five years, investors are recalculating how they weight traditional assets
History says your EM carry trade could end in tears
Investors reaping handsome returns on emerging-market (EM) currencies this year might do well to heed a warning once made by Harvard economist.
What changed your market overnight while you were sleeping
Nifty50 futures on the Singapore Stock Exchange were trading 1 point, or 0.01 per cent, higher at 9,621, indicating a flat opening for the domestic market.
Tale of two gluts: Brent crude and iron ore cross $50 on opposite paths
Oil traded above $50 a barrel for the first time this year while iron, moving in the opposite direction, fell below $50 a tonne on Thursday.
Copper, oil drag commodities to 12-year low
Copper tumbled 5.7% to $5,526 a metric tonne on the London Metal Exchange at 12:29 pm on January 14, set for a sixth day of losses.
Gold dips below $1,200 as Fed trims stimulus
Gold dropped below $1,200 an ounce to a five-month low as the Federal Reserve trimmed economic stimulus, reducing demand for haven assets.
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