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  • Article / 20 June 2017 at 7:37 GMT

    FX Update: US yield comeback supports USD

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: US yield comeback supports USD
    Comments from Fed officials boosted US rates and the dollar, as perhaps did a broadly strong risk appetite. EURUSD and USDJPY look like the most obvious candidates for a bit more USD consolidation in a news vacuum, but we’ll need solid US data and re-emergence of the "Trump trade" for any major revival in the greenback’s fortune.
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    2y
    mateen mateen
    AUDJPY ... sold at cmp ....84.96 stop at 85.08 1st tp 84.58
  • Article / 12 June 2017 at 9:00 GMT

    COT: Gold exposed ahead of FOMC — #SaxoStrats

    Head of Commodity Strategy / Saxo Bank
    Denmark
    COT: Gold exposed ahead of FOMC  — #SaxoStrats
    Hedge funds cut bullish exposure across 23 US traded commodity futures and options by 6%, or 34,932 lots, in the week ending June 6. For a second week the bulk of the selling was driven by continued long liquidation of natural gas. Oil was bought due to the Qatar spat, while a three-week record buying spree has left gold exposed ahead of the FOMC meeting.
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    2y
    Ole Hansen Ole Hansen
    Funds cut bullish Brent crude oil bets by 12% or 42,000k in week to June 6. Biggest one-week jump in gross-shorts since Nov 8
    2y
    Market Predator Market Predator
    Hello Ole. Interesting disrepancy between speculative change WTI Oil longs between: Nymex & ICE. (Nymex adding; ICE quite significantly reducing) Not very usual, am I right?
    2y
    Morris Morris
    Is there any relationship between the Dollar and Commodity prices? A stronger Dollar positive or otherwise for commodities?
  • 2y
    fxtime fxtime
    LOL....totally agree I am a muppet :-)
    2y
    Michael O'Neill Michael O'Neill
    Hey, I wasn't calling you a Muppet. It was a reference to a term you introduced me to. 😁
    2y
    fxtime fxtime
    LOL ... no offence taken mate LOL. You will be pleased to hear that my monthly wine delivery has finally come too ....phew.
  • Article / 09 June 2017 at 10:25 GMT

    WCU: Gold retraces ahead of FOMC, oil torn between supply and tensions

    Head of Commodity Strategy / Saxo Bank
    Denmark
    WCU: Gold retraces ahead of FOMC, oil torn between supply and tensions
    A rally in US crop futures help offset another week of steep losses across the energy space. Crude oil suffered a third consecutive week of losses with Middle East tensions failing to support a market focusing on supply. Precious metals reversed some of their recent strong gains as profit-taking has emerged ahead of the June 14 FOMC meeting.
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  • Article / 07 June 2017 at 11:20 GMT

    Oil pressured by rising supply with limited impact of Qatar spat

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Oil pressured by rising supply with limited impact of Qatar spat
    A flare-up in Middle East tensions has so far failed to add a risk premium to the price of oil. Instead the focus has been on the potentially negative impact of the current deal to curb production falling apart. Add to this an expectation of record US production in 2018 and a potential 10% jump in output from Nigeria after the lifting of export restrictions, and oil is clearly under pressure.
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    2y
    Ole Hansen Ole Hansen
    Oil continues to loose ground, currently down 3.4%. The inventory jump in crude was got triggered by a 356k b/d rise in imports and a 746k b/d...
    2y
    matsuri matsuri
    but it seems that production in the USA decreased
    2y
    Vladimir M Vladimir M
    as if there were a secret agreement on the price of oil, for which high prices in the winter traded at lower prices in the summer