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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.
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Strats_Blue-I
SaxoStrats

Market Call Podcast

John Hardy
Head of FX Strategy
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Bonds

The forthcoming commercial real estate crisis will cripple pension funds and insurers

Althea Spinozzi
Similarly to the Global Financial Crisis, this crisis will also be ignited by subprime mortgages. However, it will stem from commercial real estate rather than house prices. As the economy gets disrupted by more restrictions imposed by a new Covid-19 outbreak; commercial backed security delinquencies and special servicing rates will continue to rise, causing big losses among many financial institutions. Seven out of the ten biggest U.S. CMBS holders are pension funds and insurers, pointing to the fact that the first to suffer will be our retirement plans.
Forex

FX Update: GBP concern notches higher. Market prices RBA closer to zero.

John Hardy
Sterling concern on the Brexit talks status lurched a few notches higher as the UK refuses to sit down for renewed talks until the EU makes concessions. Elsewhere, dovish jawboning overnight from an RBA official as the market shifting its expectations lower for the rate cut at the November 3 RBA meeting. Elsewhere, today is the deadline for US House Speaker Pelosi on pre-election US stimulus talks.
Commodities

Yuan strength drives copper to a two-year high

Ole Hansen
Copper has following a short-lived correction resumed its ascent and today reached the highest level in more than two years
technical analysis
Forex Options

FXO Market Update - Oct 20

PLN struggle under the new wave of Covid that is rolling over Europe and new lockdown measures are expected to be put in place in Poland. EURPLN trades higher and closing in on the highs from March and vols trades bid.
Macro

Macro Digest: Forget the clean-sweep

Steen Jakobsen
As someone who believed that Biden could do a clean sweep six week ago it may seem odd that I now, again, have changed my position. I still have a high conviction on a Biden win, but a far lower conviction that the Democrats have a chance of taking a Senate (so important as Congress must have both houses on the side of the presidency for any chance of major tax and regulatory reform).
Strats_Blue-I
Podcast

Podcast: A disappointing session - stimulus or Covid concerns?

Saxo Market Call
Today we look at a very disappointing session in the US yesterday with the narrative tough to extract as the status of stimulus remains tense and uncertain and in Europe, Covid shutdowns may see a widening impact on confidence. Also today, a look at key earnings stories, AUD and GBP weakness, the latest on grains and much more. Today with Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy on FX.
Macro

Market Quick Take - October 20, 2020

John Hardy
Sentiment dipped again yesterday after an attempt at a positive start, with US equities closing near the lows of the day and at their lowest level in more than a week. Stimulus talks between House Speaker Pelosi and Treasury Secretary Mnuchin are said to be ongoing after Pelosi declared a negotiation deadline for today.
Equities

Fiscal gridlock continues as election draws closer

Eleanor Creagh
As the US election draws closer, October market dynamics are being fuelled by uncertainties surrounding the presidential race, fiscal 4 still MIA as congress remains gridlocked and Covid-19 cases on the rise in the Northern hemisphere.
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