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Video length: 9 minutes
MORNING CALL

Morning Call: Equities still looking for support

Michael McKenna
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.

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EQUITIES

Traders anxiously await Jackson Hole

Ahead of the annual Jackson Hole Economic Symposium chairman Powell is once again juggling with market expectations whilst facing an ever-oppositional barrage of insults from an irate US President Donald Trump. Asian indexes nervously climbed today on low volumes ahead of tonight’s speech and yields rose along with the USD as Fed officials reigned in the dovish cooing. Markets are nervy as they attempt to navigate ongoing trade tensions, geopolitical fractures and a synchronised slowdown in global growth. Pervasive uncertainty remains and as such traders are anxiously looking to the Fed for direction as chairman Powell delivers his opening speech at the symposium tonight in Wyoming.

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