CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
 
For institutions
Log in Open account
United Kingdom
14fxL

Key Stories from the past week: Earnings season + commodity action

Macro
Saxo Be Invested
Saxo

Trade tensions once again directing broad sentiment with the U.S. exerting trade friction with China, Canada and Russia. The delayed Sept US CPI numbers came in slightly softer than expected on Friday. Earnings season has so far been reasonably strong which has helped markets ride out geopolitical risks and trade tensions. Precious metals finally took a breather this week, markets now await consolidation. Japan voted in its first female Prime Minister, spurring on the Nikkei. UK inflation came in softer than expectations giving sterling and gilt yields a relief. Meanwhile new meme stock Beyond Meat rocketed at one point up over 1300% on the week as it was added to the Meme ETF. More below on this week’s key stories. 


New Russia sanctions push crude prices
Crude prices jumped after the U.S. imposed sanctions on Russia’s largest oil producers, Rosneft and Lukoil, a dramatic policy shift aimed at pressuring Moscow by choking revenue from two of the Kremlin’s key cash generators. Refineries in China and India will now be forced to seek alternative suppliers to avoid exclusion from the Western banking system and dollar access.
Commodities Weekly: From glut to disruption - sanctions lift energy as metal sectors diverge

The Gold and Silver rally gets checked
Gold and Silver experienced a forceful correction after a powerful nine-week rally that saw gold gain 31% and silver 45%. Beyond the firmer dollar, the main catalyst was softer Indian demand in the aftermath of Diwali. Silver rebounded from the USD 47.80 area of support, with gold buyers emerging just above USD 4000.
Gold and Silver correction to test the market's true strength

Tesla profit tumbles
Tesla shares fell as Q3 earnings missed expectations (Adj EPS $0.50 vs. Est. $0.54). Profits dropped by 37% to $1.4 bn on higher costs, tariffs and as the company lowers prices to stay competitive. Tesla also says focus remains on scaling core hardware business.
Tesla's earnings remind investors that gravity still applies

Netflix slides on tax hit
Netflix stock plunged -10% after the video streaming giant Q3 earnings that missed estimates. Despite 17% revenue growth to $11.51bn, adjusted EPS undershot at $5.87 vs $6.96 expected. The miss stemmed from a $169m one-time tax settlement in Brazil.
Netflix Q3 review


This weekend U.S. President Trump begins his diplomatic tour of Asia starting at the ASEAN leaders’ summit in KL. The Fed (Wednesday), ECB (Thursday) and BoJ (Thursday) all meet this week to set policy rates. Markets have priced a 25bps cut for the Fed and are expecting a hold from both ECB and BoJ. Earnings continue to roll in, big tech is the focus - Wednesday sees Meta, Alphabet and Microsoft, then Thursday has Apple and Amazon.

This content is marketing material. 

None of the information provided on this website constitutes an offer, solicitation, or endorsement to buy or sell any financial instrument, nor is it financial, investment, or trading advice. Saxo Capital Market Ltd. (SCML) provides execution-only services, with all trades and investments based on self-directed decisions. Analysis, research, and educational content is for informational purposes only and should not be considered advice or a recommendation.

SCML content may reflect the personal views of the author, which are subject to change without notice. Mentions of specific financial products are for illustrative purposes only and may serve to clarify financial literacy topics. Content classified as investment research is marketing material and does not meet legal requirements for independent research.

SCML partners with companies that provide compensation for promotional activities conducted on its platform. Some partners also pay retrocessions contingent on clients investing in products from those partners. 

While SCML receives compensation from these partnerships, all educational and research content remains focused on providing information to clients.

Before making any investment decisions, you should assess your own financial situation, needs, and objectives, and consider seeking independent professional advice. SCML does not guarantee the accuracy or completeness of any information provided and assumes no liability for any errors, omissions, losses, or damages resulting from the use of this information.

Please refer to our full disclaimer and notification on non-independent investment research for more details.

Saxo
40 Bank Street, 26th floor
E14 5DA
London
United Kingdom

Contact Saxo

United Kingdom
United Kingdom
Products & pricing
Platforms
Accounts & service
General
Other
Legal

Warning

Trade Responsibly
All trading carries risk. 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
Additional Key Information Documents are available in our trading platform.

Saxo is a registered Trading Name of Saxo Capital Markets UK Ltd (‘Saxo’). Saxo is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422. Registered address: 26th Floor, 40 Bank Street, Canary Wharf, London E14 5DA. Company number 7413871. Registered in England & Wales.

This website, including the information and materials contained in it, are not directed at, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in the United States, Belgium or any other jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation.

It is important that you understand that with investments, your capital is at risk. Past performance is not a guide to future performance. It is your responsibility to ensure that you make an informed decision about whether or not to invest with us. If you are still unsure if investing is right for you, please seek independent advice. Saxo assumes no liability for any loss sustained from trading in accordance with a recommendation.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.

©   since 1992