Key Stories from the past week: Nvidia steals the show Key Stories from the past week: Nvidia steals the show Key Stories from the past week: Nvidia steals the show

Key Stories from the past week: Nvidia steals the show

Saxo Be Invested

US and European equities declined on the week with the exception of the Nasdaq which was boosted by blow out earnings from Nvidia where we saw more investors picking up the stock. There was also plenty of client activity in gold, silver and copper as recent price action provides opportunities for traders.


Clients add to positions as Nvidia reaches for the sky
There was lots of activity on the desk ahead of the important earnings call from Nvidia with clients generally adding long exposures.  The company topped optimistic expectations with a revenue outlook materially above estimates and announced a 10-for-1 stock split sending the price 7% higher.
Nvidia investment case

GBP was the most popular FX trade on changing rate expectations
Clients hurried to buy GBP on Tuesday as a significant drop in headline consumer prices dampened the chances of a first rate cut in June. Sterling rallied against other major currencies with long GBPJPY the most popular trade.
The outlook on UK rates

Profit taking and stronger USD continues to elevate metals activity
Precious metals remained the favourite trade for our futures clients as profit taking coincided with stronger-than-expected US economic data that strengthened USD. Gold support at 2,314, Silver testing the $30 level and the Copper correction likely over were the focus of the conversations.
Metals roundup

Things to look out for in the coming week include earnings from Salesforce which is widely held by Saxo clients and also HP Inc. and Dell Technologies as computer hardware is poised for a recovery. German CPI (Wednesday), China PMIs (Thursday), US PCE Deflator (Friday). There are also central bank speakers throughout the week for more clues on rate expectations.


The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (
Full disclaimer (
Full disclaimer (

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15

Contact Saxo

Select region


Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.