Morning Call: Equities still looking for support
Head of Editorial Content, Saxo Bank
Summary: Today's edition of the Saxo Morning Call features Saxo Bank Head of Commodity Strategy Ole Hansen and Head of Forex Strategy John Hardy discussing another session that saw US and world equities remain below the 200-day moving average with an eye on a potential move higher in gold.
Commodity outlook webinar
We take a closer look at the how the coronavirus outbreak has rattle the commodity market with growth dependent and safe haven commodities moving in opposite directions
FX Update: Currency traders largely sitting on their hands as risky assets gyrate
We are seeing a bit of USD weakness in EURUSD and USDJPY, the latter of which has failed to reverse through the key 110.00 area, but outside of EM currencies, FX trading ranges remain rather muted relative the sudden injection of negative momentum in equities and other risky assets. Trump will look to make a splash in coming days now that he is back in Washington.
FX Update: Eyeing USDJPY status as FX too quiet
Today we are seeing a full-bore risk off move that is washing over the currency market along the lines of punishing the less liquid and more pro-cyclical currencies and rewarding the US dollar and the Japanese yen. The status of the yen is particularly interesting as we look at whether the JPY spike lower last week was an aberration or a regime change for the currency.
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