Relevant articles for you


Althea Spinozzi
Global Sales Trader Althea Spinozzi, a specialist in fixed income, takes a closer look at the bonds market following the FOMC’s decision to hike interest rates.
Squawk / 25 May 2016 at 14:51 GMT
Manager / Tashkent designer
Dear Steve,
Please share your views on eurusd, usdcad and oil.
And how you look at dax and cac indices .
It's good if I sell dax and buy cac.
Take care . Miss your strategic calls.
With Regards,
Vanita .
Stephen Pope Stephen Pope
I will look at these for you a little later. I am tied up with telephone calls and teaching at the moment.
vanita vanita
I agree it's okk sir Steve.
Stephen Pope Stephen Pope
EURUSD: Short-run techs say BUY but go over one week and this pair is a sell. I did post a very long-term sell on EURUSD (not been posted yet). The news on Greece shows how flawed the Eurozone is and ECB policy is staying soft for many months yet to come. So I am a seller with a long-term objective at parity. But if you are a short-tern player there is scope to 1.1174.

WTI: All techs put to one week are BUY with the monthly neutral. Crude futures tested $50 today...last seen in mid-October, before closing near session-highs. The declines in domestic production offset a gain in US gasoline inventories last week.

Please be cautious as EIA said in its "Petroleum Status Report" US commercial crude inventories fell by 4.2 million barrels for the week ending on May 20 w/w. The problem is that at 537.1 million barrels, US crude oil inventories are at historically high levels for this time of year.

Near term targets at 51.95...then 54.21 and the real make or break is at 62.36.
Stephen Pope Stephen Pope
USDCAD: This is still an oil play as since June 2014 the R Sq is 0.8992. Techs at the front end are geared toward USD strength as the mood for a Fed hike gains substance...but go to go the 5 hour measure and techs run with an oil bull story and favour the CAD to recover.

CAD strengthened against the USD on Wednesday after the Bank of Canada (BOC) kept its benchmark interest rate on hold at 0.5%. But again I see the USDCAD moving back higher as the US /Canada rate differential will widen. BOC said Q2 growth is expected to be weaker than expected due to the Alberta wildfires. I look for 1.3536.

DAX and CAC ratio is 2.27...i.e. midway in small impulsive that has run since mid October 2015. I am looking at the PMI Manufacturing data from Monday, that has France contracting at 48.3, this was less than expected and the German figure was 52.4...expansion and greater than expected. Next Wednesday there will be the final PMI data for May and I expect it to give the DAX a boost.
vanita vanita
Thanks Steve for your guidance.
Take care have a nice day.


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail