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  • Article / 1 hour ago

    WCU: Commodity focus turns to Yemen

    Head of Commodity Strategy / Saxo Bank
    Denmark
    WCU: Commodity focus turns to Yemen
    Yemen was the big story of the week as a Saudi Arabian-led coalition attacked Hauthi rebels, sparking fears of a spike in tensions between Shiite Iran and its Sunni neighbours and triggering sharp gains for oil and precious metals. Elsewhere, industrial metals lagged and the agricultural sector awaited a key report due next week.
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  • Squawk / 2 hours ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    US economy grew 2.2% in the fourth quarter:

    The third estimate of Q4 GDP shows that the world's largest economy grew by 2.2% q/q (annualised) vs. 2.4% expected and unchanged from the second estimate a month ago.

    Following growth rates of 4.6% and 5% in Q2 and Q3 the economy slowed markedly in Q4 of last year, but the composition was quite good with personal consumption up 4.4% while government consumption dropped 1.9%. Investment (including inventories) rose 4.5% as did exports while imports rose a substantial 10.4%.

    While Q1 will likely also show slow(-er) growth I expect a pick-up in growth in Q2 and beyond as the impact from USD strength fades while personal consumption and (residential) investment should continue to be key drivers of growth.
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  • Trade view / 5 hours ago
    Short term

    Is gold ready for a correction?

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Gold is currently enjoying its longest sustained uptick since August 2012 but the failure to break resistance at $1,223/oz means that a correction may be in store. At the moment, gold looks vulnerable below $1,194/oz.
    Read the Trade View
    1h
    Ole Hansen Ole Hansen
    Futures volume jumped on the break below 1195 but the lack of follow through has triggered short covering with risk appetite fading ahead of the weekend.
  • Article / 7 hours ago

    Saxo Trade Navigator: Friday, March 27

    Head of Macro Strategy / Saxo Bank
    Denmark
    Saxo Trade Navigator: Friday, March 27
    March 27, 2015: The Saxo Trade Navigator provides you with daily technical insight into a wide array of major instruments, ranging from FX to equities, commodities and bonds. With a host of various technical indicators such as pivot points, RSI and moving averages, the Saxo Trade Navigator can be used to spot daily trade ideas.
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