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                  Latest articles

                  17 December 2009

                  Saxo Bank Releases 'Outrageous Claims' for 2010

                  Andrew Arnold, Trading Floor Editor

                  Saxo Bank has today released its annual "Outrageous Claims", this year predicting devaluation of the CNY, the emergence of a third political party in the US, a massive fall in the price of sugar, a positive US trade balance for the first time since the 1975 oil crisis, and that the US Social Security Trust Fund will go bust.
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                  03 December 2009

                  A new guide to global economic indicators for Forex traders

                  Andrew Arnold, Trading Floor Editor

                  There are so many economic indicators that keeping a solid grasp on the Forex market is difficult. Saxo Bank has gathered the most important into a new publication that gives a signpost to the development of the global economy
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                  27 November 2009

                  UK has the greatest exposure to Dubai

                  Andrew Arnold, Trading Floor Editor

                  Following the negative news about Dubai, we provide below some information regarding the aggregate European exposure to the UAE using BIS data (based on consolidated and ultimate risk basis).

                  The UK is the European economy that has the largest exposure to the UAE with around USD50bn of outstanding loans as of June 2009, more than half the total European exposure.

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                  24 November 2009

                  US GDP Q3 revised to 2.8% in line with consensus

                  Mads Koefoed, Macro Strategist, Saxo Bank

                  The US has just released its first revision to its third quarter GDP report, and it came in line with consensus expectations of 2.8% and thus slightly below our forecast of 3.0%. The revised 2.8% GDP QoQ growth can be ascribed first and foremost to a larger than expected downward revision of personal consumption. Our personal consumption forecast of 3.3% (consensus: 3.2%) was 0.3%-point above the realised number. In addition, the contributions from non-residential investment and net exports were both revised down as we argued in the preview.
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                  24 November 2009

                  Expect US GDP Q3 to be revised down to 3.0%

                  Mads Koefoed, Macro Strategist, Saxo Bank

                  Later today (24 November), the US will release the first revision to its third quarter GDP report. Following a better than expected initial estimate of 3.5% (Saxo Bank: 3.6% vs. consensus: 3.2%) we expect GDP to be revised down to 3.0% (consensus: 2.8%) while Personal Consumption is expected to be revised slightly lower to 3.3% (consensus: 3.2%) from 3.4% in the first report.

                  Two reasons lead the way in our downward revision: the deterioration in the trade balance and a weaker bounce in investment than expected initially, specifically non-residential investment. In addition, we recognize the argument floating around that the initial report suffers from a so-called large company bias.

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                  Trading Floor Legal disclaimer

                  None of the information contained herein constitutes an offer to purchase or sell a financial instrument or to make any investments. Trading Floor is powered by Saxo Bank A/S and/or its group companies ("Saxo Bank"). Saxo Bank does not take into account your personal investment objectives or financial situation and makes no representation, and assumes no liability to the accuracy or completeness of the information provided, nor for any loss arising from any investment based on a recommendation, forecast or other information supplied from any employee of Saxo Bank, third party, or otherwise. Trades in accordance with the recommendations in an analysis, especially, but not limited to, leveraged investments such as foreign exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits. You should carefully consider your financial situation and consult your financial advisor(s) in order to understand the risks involved and ensure the suitability of your situation prior to making any investment or entering into any transactions. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of Saxo Bank.