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  • Article / 06 July 2018 at 12:54 GMT

    EM FX Weekly: China intervenes to slow the CNY slide

    Head of FX Strategy / Saxo Bank
    Denmark
    EM FX Weekly: China intervenes to slow the CNY slide
    EM currencies were all over the map over the past week, as China halted the precipitous slide in the renminbi just as it was showing signs of accelerating through key support. The boost to sentiment was somewhat minimal for the rest of EM as the US-China confrontation over trade hits a new phase with the actual start of tariffs this week.
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  • Article / 29 June 2018 at 14:04 GMT

    EM FX Weekly: Focus on China on recent CNY slide

    Head of FX Strategy / Saxo Bank
    Denmark
    EM FX Weekly: Focus on China on recent CNY slide
    China has seized the market’s attention by allowing a sharp slide in the renminbi over the past two weeks, as investors ponder whether this is merely a signal that China is no longer interested in seeing its currency strengthen versus the official reference basket or if it is “weaponising” the renminbi in the trade showdown with the US.
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  • Article / 12 January 2018 at 16:10 GMT

    Stable genius downgrades Nafta risks for loonie

    FX Trade Strategist / www.Loonieviews.net
    Canada
    Stable genius downgrades Nafta risks for loonie
    The Canadian dollar is the biggest (and only) loser since the January 5 close in New York, with the Japanese yen leading the rest of the currencies higher. Nafta concerns have underpinned USDCAD, while a potential shift in future ECB guidance and a tweak in BoJ bond purchases has undermined the US dollar.
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    1y
    Market Predator Market Predator
    Hello Michael. I'd like to ask you if housing prices (debt) is no more problem for BoC. What do you think please?
    1y
    Michael O'Neill Michael O'Neill
    Hi Market Predator. Nothing has changed (yet) to suggest that the BoC's concern with elevated household debt has changed. New mortgage rules went into effect at...
  • Article / 28 August 2017 at 7:24 GMT

    COT: Funds bought EUR and sold GBP last week

    Head of Commodity Strategy / Saxo Bank
    Denmark
    COT: Funds bought EUR and sold GBP last week
    The non-commercial dollar position derived from eight IMM currency futures held steady during the week to August 22. Renewed buying of euros were offset by selling of sterling as EURGBP reached a 10-month high. The yen remained the most shorted IMM currency, despite short-covering extending to a fifth week.
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  • Article / 05 June 2017 at 8:23 GMT

    COT: Funds turn euro-neutral after 3 years of selling

    Head of Commodity Strategy / Saxo Bank
    Denmark
    COT: Funds turn euro-neutral after 3 years of selling
    Leveraged funds cut bullish IMM dollar bets by 16% to $10 billion, a 13-week low. Persistent short-covering in IMM euro has been a key driver in recent weeks. Last week the EUR net short (futures and options combined) stood at just 1,337 lots, the weakest short in three years.
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    2y
    Pandorra Pandorra
    Thank you, Ole. How do you think what's a timing it shud be to deliver EUR USD back to 3-years ago passed area 1.28-1.30. Calendar swaps...
  • Article / 08 May 2017 at 10:25 GMT

    This week's FX trading themes — #SaxoStrats

    Head of FX Strategy / Saxo Bank
    Denmark
    This week's FX trading themes — #SaxoStrats
    The distraction of the French presidential election is now out of the way, but existential risks for the Eurozone remain. Our trade focus this week is on potential for the euro to consolidate lower, for a modest yen resurgence, and a relative value trade in commodity currencies, which have been volatile on the recent weakness in commodity prices.
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    2y
    John J Hardy John J Hardy
    Had I written this today, would not have JPY longs on the agenda - it is clear that this market wants to sell JPY after yesterday's action....
    2y
    fredajerusha fredajerusha
    This comment has been redacted