Big day for BoE and ECB. Equity market too jumpy
Saxo Market Call
Summary: The US S&P 500 closed the session yesterday right on a key retracement level before crumbling after hours on a weak guidance from Facebook parent Meta Platforms and Spotify, adding the recent pattern of extreme sensitivity to surprises in earnings report. On that note, we're holding our breath for the Amazon earnings call today. We also discuss the BoE and ECB meetings today, which almost have to surprise after the surge in expectations for more hawkish guidance, particularly for the ECB. Also - crude oil is looking a bit tired technically even as the supply situation remains tight. Today's pod features Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities, and John J. Hardy hosting and on FX.
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Latest Market Insights
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