Energy prices and yen top market agenda. Copper hits record.
Summary: Today, noting the significant technical break lower for USDJPY and what may come next, with spiking energy prices somewhat of a headwind for JPY bulls and for global risk sentiment in general. At what point could energy prices suddenly seize more of the market's attention bandwidth? Elsewhere, we look into the record copper price, which is partially related to Hormuz Strait woes, Amazon's abuses of its monopoly status, geopolitics and much more. Hosting today's pod is Saxo Global Head of Macro Strategy John J. Hardy.
Listen to the full episode now or follow the Saxo Market Call on your favourite podcast app.
Links
- John's The FX Trader piece from today, focusing mostly on the yen.
- Cory Doctorow carves up Amazon for its "payola" practices and aggressive extraction of profits, even for shipping, from the sellers on its platform.
- Here's a podcast that goes into where risk may be hiding in the cozy relationship between some insurance companies and private credit outfits.