Short-term gain, longer-term pain for crude oil
Crude oil has settled into a relatively tight range above $80/barrel, with forecasts weighing short-term upside risks against the potential of slowing demand growth and rising non-Opec production.
Head of Editorial Content, Saxo Bank
Summary: Today's edition of the Saxo Morning Call features Saxo Bank Chief Investment Officer Steen Jakobsen, Head of Commodities Strategy Ole Hansen, and technical analyst Kim Cramer Larsson discussing the messy breakdown of the Brexit procedure post what Jakobsen terms a 'dismal' performance by PM May In Salzburg.
Looking at sterling, Larsson notes that we remain in an uptrend so long as GBPUSD stays above 1.3050; as for the political road ahead, uptrends are far more difficult to identify.