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Divergences under the surface extend further, while FX heating up.

Podcast 27 minutes to read
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Saxo Market Call

Summary:  Today, we note that the recent divergences we have highlighted have almost begun to hyperextend, as small caps, transports and other sectors had a banner day even as Mag7 and Tech were decidedly meh. Elsewhere, FX is heating up as the US dollar is breaking down and sterling is breaking up, among other developments. This, a bit of throwing shade on the concept of "dry powder" and much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.


Listen to the full episode now or follow the Saxo Market Call on your favorite podcast app.

Today’s Links

The only link we have for you today is to an interesting X post that made us aware of Japan's new Tagei submarine class, which represents a massive leap forward in submarine capabilities, able to stay below the surface, and very quietly so, for incredibly long periods of time due to its using batteries for all power.

Questions and comments, please!

We invite you to send any questions and comments you might have for the podcast team. Whether feedback on the show's content, questions about specific topics, or requests for more focus on a given market area in an upcoming podcast, please get in touch at marketcall@saxobank.com.

This content is marketing material and should not be considered investment advice. Trading financial instruments carries risks and historic performance is not a guarantee for future performance.

The instrument(s) mentioned in this content may be issued by a partner, from which Saxo receives promotion, payment or retrocessions. While Saxo receives compensation from these partnerships, all content is conducted with the intention of providing clients with valuable options and information.

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