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  • Article / 41 minutes ago

    Daily Shot: Greek drama and China blues Team / Saxo Bank
    Daily Shot: Greek drama and China blues
    As Greece's tragedy (or is it farce?) rolls onwards, the country's banks continue to bleed money and bank shares slide. But while we're seeing encouraging signs of incipient recovery elsewhere in the Eurozone, economic indicators from Canada and China make for unappetising reading.
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  • Squawk / 1 hour ago
    Today’s preference is bearish. Technically, Stochastic and CCI are in overbought condition. Watch 1205.96 – 1212.53 area in order to look for sell signal confirmation with target on 1201.90 – 1195.33.

    Be careful if resistance at 1212.53 breaks, because it will turn intraday bias into bullish and open the chance for a bullish move up to 1216.59 – 1223.16. In that case, the bearish scenario mentioned above may fail as intraday strategy.
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  • Article / 2 hours ago

    FX Update: USD bulls still waiting for traction

    Head of FX Strategy / Saxo Bank
    FX Update: USD bulls still waiting for traction
    The RBA failed to cut overnight and AUDUSD squeezed back higher. Meanwhile, USDJPY couldn’t maintain the 120.00 level and EURUSD refuses to push lower after last week’s swoon. The USD needs to get something going or we risk another squeeze on bulls losing confidence.
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  • Squawk / 2 hours ago
    Head of Macro Strategy / Saxo Bank
    Another solid labour market report from Spain:

    It should be no surprise by now that I view the Spanish economy favourably compared to the other three of the 'big 4' in the euro area, Italy and France in particular.

    The labour market certainly continues to do well. A fresh report for February shows a decline in unemployment of 13,500 while consensus had looked for a drop of 2,900. In January unemployment rose by 78,000. This series is not seasonally adjusted so we compared YTD instead. In 2015, unemployment rose by 64,000 in Jan-Feb compared with 111,000 in 2014 and 191,000 in 2013. A notable improvement.

    The employment series on the other hand is seasonally adjusted, and it shows an increase of 84,000 or 0.5% m/m. This translates into 2.8% y/y; in comparison US nonfarm payrolls are up by 2.4% from a year ago.

    I expect the Spanish economy to grow at least 2% this year - and possibly closer to 2.5% due to added tailwinds from weaker currency and energy prices.
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  • Article / 2 hours ago

    Market Open: Greece in talks for third bailout Team / Saxo Bank
    Market Open: Greece in talks for third bailout
    European markets are expected to open marginally higher Tuesday. Later today, market participants will look to Eurozone producer price inflation and German retail sales data for further direction. Yesterday, Luis de Guindos, Spain’s economy minister, stated that the European Union and Greek officials are negotiating a third bailout for Greece worth between EUR 30 billion and EUR 50 billion.
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  • Squawk / 3 hours ago
    Founder, Owner, Director / Market Chartist
    United Kingdom
    GBPUSD Upside Risks

    A still more significant setback to start the week and the month, but for now still holding above better support in the 1.5332/16 area and we therefore see the bigger picture theme still positive within the broader range environment.
    We still see threat for a more bullish shift into March through the top of our defined range, above 1.5621.
    For Today: Dip risk, but we see 1.5332/25/16 holding and a rebound bias for 1.5423; break here aims for 1.5460.

    A taster of the report above. To view the full GBPUSD report with screencasts, levels and more, click here
    See all our FX and all other reports by clicking here
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