Morning Call: New month but no fresh start for markets
Senior Editor, Saxo Bank
Summary: Join Saxo Head of Commodity Strategy Ole Hansen as he discusses how trade wars continue to dog global sentiment as US President Trump ratchets up the pressure on international allies, including Mexico and India. The upshot is trepidation all round and safe haven gains for US long-dated bonds, gold and the Japanese yen.
Market Quick Take - July 2, 2020
The US Nasdaq100 index leaped to an all-time high yesterday, with the broader market rather stuck in neutral. Today we have a look at the latest weekly US initial and continuing jobless claims and the June payrolls change and other jobs data after the June ISM survey yesterday suggested that the US manufacturing sector may be looking higher from very depressed levels.
YCC green lights the hunt for yield
A lacklustre start to the quarter, despite strong lead from Wall Street Asian indices trade off session highs as investors weigh mounting case counts in the US, a sobering warning from Anthony Fauci and a heating war of words between the US and China.
Market Quick Take - July 1, 2020
Equity markets ended the second quarter with a flourish of strength, extending the rebound of the prior day. Sovereign bonds were generally weak and the US dollar rather sideways. Gold pulled to new multi-year highs, this time accompanied by a punchy rally in silver, helping the gold bulls with a bit of confirmation.
Saxo Capital Markets (Australia) Pty Ltd prepares and distributes information/research produced within the Saxo Bank Group for informational purposes only. In addition to the disclaimer below, if any general advice is provided, such advice does not take into account your individual objectives, financial situation or needs. You should consider the appropriateness of trading any financial instrument as trading can result in losses that exceed your initial investment. Please refer to our Analysis Disclaimer, and our Combined Financial Services Guide and Product Disclosure Statement. All legal documentation and disclaimers can be found at https://www.home.saxo/en-au/legal/.
Saxo News & Research is provided for informational purposes, 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. No representation or warranty is given as to the accuracy or completeness of this information. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. No Saxo Bank Group entity shall be liable for any losses that you may sustain as a result of any investment decision made in reliance on information on Saxo News & Research.
To the extent that any content is construed as investment research, such 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.
Please read our disclaimers:
- Full Disclaimer (https://www.home.saxo/en-au/legal/disclaimer/saxo-disclaimer)
- Analysis Disclaimer (https://www.home.saxo/en-au/legal/analysis-disclaimer/saxo-analysis-disclaimer)
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)