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Saxo TV / 41 minutes agoSaxo Bank's Head of Commodity Strategy Ole Hansen rounds up the highlights of the commodity market week. After three weeks of gains markets were hit by USD fluctuations, with the clearest example seen in Gold.
Article / 1 hour ago
Russian economy not ticking all the boxesStatistical data give contradictory signals about the state of Russia's economy, but if one pays attention to the production of cardboard boxes (as Alan Greenspan advised), Russia appears to be in deep trouble.Read the article
Article / 2 hours ago
Daily Shot: Up in Europe, down in the USAmid the weak euro the Eurozone shows improvement while earnings growth in the US is slowing down and PMIs there are falling.Read the article
Saxo TV / 2 hours ago
Jakobsen: First major trading strategy change since 2013 & here's whySteen JakobsenSteen Jakobsen, Saxo Bank's Chief Economist & CIO, is dramatically shifting his investing strategy. For the first time, Steen has divested his fixed income portfolio and is now favoring gold and the mining sector in general. Here he outlines his reasoning behind his new investing strategy.
Article / 3 hours ago
From the Floor: Oil holds to its gainsCrude oil is holding to its gains, helping to push US oil prices over the $60/barrel mark overnightRead the article
Squawk / 3 hours agoGerman IFO unchanged in May:
A rather unexciting May IFO report out of Germany this morning shows unchanged confidence compared to April. The headline business climate index printed 108.5 vs. 108.3 expected and 108.6 prior helped by a gain in the current assessment index. This index rose to 114.3 from 114 while the more important (forward-looking) expectations index dropped to 103 from 103.4 as expected.
A reading of 108.5 in the IFO business climate has historically been consistent with growth of more than 2 percent, but the euro area's largest economy only managed half that (1 percent) in Q1 compared to a year earlier. The annual growth rate is, however, expected to move higher and could well hit 2 percent in 2H'2015.
Squawk / 3 hours agoFrench manufacturing confidence hits 46-month high in May:
Buoyed by lower oil prices and a weak euro confidence among French manufacturers rose another point in May on top of the three gained in April (following an upward revision to 102 from 101). This implies a manufacturing confidence index of 103, the highest since July 2011. Consensus had only looked for a print of 101.
The broader business confidence index also rose a point to 97 as expected. Services sector confidence rose three points to 95 while retailers saw a two-point increase to 106 and construction confidence gained a single point to 89.
Another survey index, the composite PMI, printed 51 in May (and 50.8 for Apr-May on average vs. 51 in Q1) confirms the improved sentiment in France. However, the 0.6% Q1 GDP increase may be hard to reproduce this quarter, and our longer-term view for the French economy remains one of moderate growth: https://goo.gl/0IVdLN
Squawk / 4 hours agoSaxo Trade Navigator: Friday, May 22 (picture edition)
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.
Article / 4 hours ago
Morning Markets: Draghi ready to fightEuropean Central Bank president Mario Draghi may well come out swinging this morning after the US Fed's Stanley Fischer could not resist a swipe at the whole euro project last night. Expect potential EURUSD fireworks if the language gets tasty.Read the article
Saxo TV / 4 hours ago
Lambert: Stockpile decline sparks rally in Brent CrudeClive Lambert - FuturesTechsClive Lambert from FuturesTechs has structured a trade around the two key support levels that emerged from yesterday's rally. He is looking to buy Brent Crude on a dip with a price target of USD 67.00.