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COMMODITIES 10 minutes to read

WCU: Gold rally pauses as stocks soldier on

Ole Hansen
Head of Commodity Strategy
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    FOREX

    FX Breakout Monitor: GBP the momentum trade of the week

    John Hardy
    Sterling was the clear momentum trade this week, though it has paused today as we await key further developments over the next seven trading days. Elsewhere, we’ve seen teases from EURNOK, AUDNZD and EURCHF, without notable follow-through just yet.
    EQUITIES

    NY Open: US dollar firm to end the week

    Michael O’Neill
    The US dollar is marginally higher against the majors this morning and set to close the week on a firm note. A drift to more positive risk sentiment lifted the greenback 1.24% against the Japanese yen and 1.13% against the Swiss franc since Monday.
    MACRO

    A first glance at the US shutdown's economic impact

    Christopher Dembik
    The University of Michigan Index is one of the key data releases unaffected by the US government shutdown, and the latest results point to a US economy dealing with multiple bearish factors.
    COMMODITIES

    WCU: Gold rally pauses as stocks soldier on

    Ole Hansen
    The early January recovery across key commodities extended into a second week with the Bloomberg Commodity index rallying by more than 4% since touching a near three-year low on the first trading day of year.
    EQUITIES

    A terrible 24 hours for Tesla and Netflix

    Peter Garnry
    Saxo Head of Equities Strategy Peter Garnry shares his thoughts on Tesla's decision to slash its workforce and Netflix's earnings miss ahead of today's New York bell.
    BONDS

    Why EM bonds are a bridge too far

    Althea Spinozzi
    Investors are flocking to emerging market bonds amidst the current risk-on-rally, but elevated yields do not always compensate for the true risks involved.
    FOREX

    GBP rips higher on referendum hopes

    John Hardy
    Markets are continuing in their recent risk-on vein with sterling bulls bolstered by increased hopes for a second Brexit referendum, and perhaps, at the margin, even a scuppering of the entire issue.
    MORNING CALL

    Morning Call: Risk rally remains in force

    Michael McKenna
    Today's edition of the Morning Call sees Saxo Head of Commodities Strategy Ole Hansen looking at a week of gains for risk assets, with the S&P 500 recording its strongest weekly performance since July 2018 and GBPUSD posting its strongest run in a year.
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