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  • Article / 1 hour ago

    No inflation? No problem

    Managing Partner / Spotlight Ideas
    United Kingdom
    No inflation? No problem
    US GDP growth may have fallen short of expectations and CPI readings may signal deflation, but the American economy is fundamentally strong. A deeper look into the statistics, including into energy trends and Core CPI readings, makes this quite clear.
    Read the article
  • Squawk / 1 hour ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    Chicago PMI drops sharply in February to 5-year low:

    Consensus had looked for a small decline to 58 in February from 59.4 in January, but instead the Chicago PMI surprised everybody with a plunge to just 45.8, the lowest print since mid-2009.

    S&P 500 is down 0.2% on the news.

    The ISM manufacturing report will be released on Monday.
    Read the Squawk
    1h
    Mads Koefoed Mads Koefoed
    University of Michigan consumer confidence is revised up in the final February report to 95.4 from 93.6. Still a decline from January's 98.1.
  • Article / 1 hour ago

    WCU: Oil benchmarks diverge – gold makes its stand

    Head of Commodity Strategy / Saxo Bank
    Denmark
    WCU: Oil benchmarks diverge – gold makes its stand
    The diverging outlook between WTI crude oil and Brent crude continues to grow with the spread between the two benchmarks reaching a 13-month high. The resumption of dollar buying was meet by defiance among gold investors who stood their ground. Coffee slumped and Starbucks jumped while copper rallied on continued stimulus speculation in China.
    Read the article
  • Saxo TV / 2 hours ago

    Hansen: Twin trading tracks for oil and gas

    Ole Hansen
    While WTI crude has continued to be on the defensive, Brent has been trading upwards with potentially the best month since May 2009. Natural gas has also had two stories to tell this week - in the US it's fallen 9% while UK gas is up around 5%. Saxo's Ole Hansen looks at this week's divergence plus gold.
    watch video
  • Squawk / 3 hours ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    US Q4 GDP growth revised down to 2.2% on inventories:

    The second estimate of fourth quarter GDP for the US resulted in a downward revision of 0.4pp to 2.2%, confirming that the US economy slowed down in the final quarter of 2014 after growth of 4.6% and 5% in Q2 and Q3 respectively. However, the main culprit of the downward revision were inventories, which are now estimated to have added 0.1pp to growth vs. 0.8pp in the original estimate.

    Key components such as private consumption (2.8pp vs. 2.9pp prior), fixed investment (0.7pp vs. 0.4pp), government consumption (-0.3pp vs. -0.4pp) and net exports (-1.2pp vs. -1pp) saw little change.

    All in all, a non-event.
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  • Squawk / 5 hours ago
    -
    Pakistan
    Watch support at 1201.58, if it stucks, then it has the potential to lift gold further with target in the range of 1212.90. As an alternative, watch support in the area of 1201.58, where sell opportunity can be taken if Gold breaks to that area with target in the range of 1190.37.
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    5h
    johnc123 johnc123
    where is the resistance?
    1h
    Ikram Dar Ikram Dar
    solid restinance 1217 1219
    34m
    hiren hiren
    solid resistance may be R1 $1222.90 R2 $1236.70 R3 $1245.90.mm(all resistance hitted may be in next week)