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  • Article / 8 minutes ago

    Stress Indicators: Face facts – 2015 is another lost year

    Chief Economist & CIO / Saxo Bank
    Denmark
    Stress Indicators: Face facts – 2015 is another lost year
    The Fed's talking heads keep on pumping out the propaganda and the market and the bank's media acolytes are falling for it hook, line and sinker. It's time for a reality check: the world's two growth engines – the US and EM – will drop into low gear in 2015. That's a fact. And don't expect recovery until 2016.
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  • Squawk / 30 minutes ago
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Gold prices in euros (€1193.2 +0,6%) is trading close to a one-month high as the continued buying of dollars so far has failed to push XAUUSD below support at $1190.
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  • Squawk / 35 minutes ago
    Head of FX Strategy / Saxo Bank
    Denmark
    EURJPY targeting 128.50 next? EURJPY has built up considerable downside momentum again, requiring a revisit of the chart for an assessment. The obvious initial target is the 130.00 low posted on the last run lower in late January and Elliott Wave traders may be targeting an extension to 128.60 if we are seeing a fifth wave forming here that is 38.2% of the overall size of what would prove a compelling five-wave sequence off the top (shown with the smaller Fibonacci setup in the chart below.)

    A more basic assessment is that the 38.2% retracement of the entire rally off the 2012 lows to the highs last December comes in right near the same level at 128.50. Stay tuned as the euro stays under pressure. This is shown with the thicker orange Fibonacci retracement lines.
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  • Editor’s Picks / 1 hour ago

    Coy Draghi reveling in QE stimulus effect

    The Telegraph
    The European Central Bank's EUR1.1 trillion quantitative-easing blitz does not begin until Monday, but president Mario Draghi can already enjoy the fruits of a policy first unveiled last summer with the common currency down 20% against the dollar and the Chinese yuan. The weakened euro has helped alleviate stress across the Eurozone, but, warns Ambrose Evans-Pritchard, long-term bonds could be in for a rough ride if yields spike.
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  • Editor’s Picks / 1 hour ago

    Greece must plan its euro exit: Delamaide

    MarketWatch
    MarketWatch political columnist Darrell Delamaide says Athens must begin planning its "Grexit" if it wants to stay in the union. Explaining his seemingly contradictory stance, Delamaide says that Greece has "no leverage" in its ongoing discussions with Eurozone creditors if it does not have a "plan B". According to MarketWatch's political analyst, "this 'Plan B' cannot be a bluff and at this point it is better than even odds it will be the plan Greece will have to follow". Aside from the potential likelihood of a Greek exit, there is also the fact that Syriza took power on a platform of Greek sovereignty and will face significant blowback if it is seen to be abandoning its base.
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  • 1h
    fxtime fxtime
    Free Cash Flow is the crux issue as you say.
  • Article / 2 hours ago

    Daily Shot: Why Turkey's president must stop meddling

    TradingFloor.com Team / Saxo Bank
    Denmark
    Daily Shot: Why Turkey's president must stop meddling
    Turkey's central bank is under pressure from the government to cut rates, which doesn't make sense in the face of a falling currency. It cut rates by 50 basis points last week, which apparently wasn't large enough for President Erdogan. The bank is now left in a bind ahead of its scheduled rate-setting meeting on March 17. Its independence is being put into question and the lira has fallen to new lows against the dollar. A rate hike by the US Fed later this year could do even more damage.
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