Video

Playlist

Show less
59:28
FX Options webinar: Gamma trading and management
Dan Larsen
Yesterday at 10:34 GMT
1:47
Buy USDJPY at the bottom of the Wedge: Lambert
Clive Lambert - FuturesTechs
Yesterday at 8:33 GMT
8:28
From the Floor: Buying the dip? — #SaxoStrats
#SaxoStrats
Thursday at 8:25 GMT
2:35
Why I'm looking to buy gold: O'Hare
Steve O'Hare - First 4 Trading
Thursday at 7:54 GMT
2:47
Selling a rally in EURJPY: Coleman
Ian Coleman - First 4 Trading
Tuesday at 8:09 GMT
2:02
The week ahead in macro — #SaxoStrats
Kay Van-Petersen
Monday at 8:13 GMT
2:54
Week ahead in FX — #SaxoStrats
John J Hardy
10 November 2017 at 13:10 GMT
1:24
Brent is still going up: Lambert
Clive Lambert - FuturesTechs
10 November 2017 at 8:44 GMT
Video / 12 September 2017 at 7:41 GMT

From the Floor: Continued risk-on and a 'runaway CAD' — #SaxoStrats

#SaxoStrats
   • UK CPI data up at 0830 GMT on a light macro data day
   • 'The Bank of Canada recognises the current bubble': Hardy
   • 'We are bullish Japanese shares as long as USDJPY is above 108': Garnry
   • Opec discussing extension of production cut deal past March '18
   • Apple special event at 1000 PDT, suppliers in focus

SaxoStrats
By Michael McKenna

'We expect continued risk-on sentiment," says Saxo Bank head of equity Peter Garnry as markets bounce back from a cautious weekend of Hurricane Irma- and North Korea-related concerns.

"Japanese stocks followed their US counterparts up 1% in the Asian session," he adds, noting that he remains bullish Japan so long as USDJPY remains above the 108.00 level.

Sterling may catch some attention today following the UK inflation release at 0830 (and ahead of Thursday's Bank of England outing), but what GBP really needs is clarity on Brexit and that hardly seems forthcoming.

The strongest performer in FX markets is the Canadian dollar, says Saxo Bank head of forex strategy John J Hardy, with the loonie's runaway performance matched by Canadian two-year rates that are now 20 basis points ahead of their US counterparts.

"What's happening here is that the Bank of Canada recognises the bubble [in Canada's economy], particularly in the housing sector."

"When this pops," adds Hardy, "it's gonna get ugly."

USDCAD

Create your own charts with SaxoTraderGO click here to learn more

Source: Saxo Bank 

The major factor in the equities space today is Apple's "special event" at 1000 PDT at which the company is expected to launch the latest iteration of its iPhone, as well as other products. According to Peter Garnry, the event should have investors tracking the performance of Apple suppliers including Dialog Semiconductor in Europe.

Garnry also points to small Welsh chipmaker IQE as one to watch as the firm's products are widely rumoured to be used in the new iPhone's 3D sensors; Swiss-listed Austrian technology group AMS is another share to keep an eye on, he adds.

With risk appetite rising, Saxo Bank head of commodity strategy Ole Hansen says that $1,300/oz is the downside level to watch in gold as it is the 38.2% retracement of the metal-s July-to-September rally.

In crude oil, Hansen says that investors will be focusing on today's Opec meeting with some downside possible if there are any indications that the cartel may not extend its current production cut deal past march 2018.

Although such an extension has not yet been confirmed, Hansen says that markets may be pricing it in.

For more on agricultural commodities, copper, Apple, and the Norwegian election, listen to today's morning call in its entirety.

Canada
Downtown Toronto: Is Canada's bubble ready to burst? Photo: Shutterstock

Michael McKenna is senior editor at Saxo Bank
12 September
Market Predator Market Predator
Hello John. Could you please comment SEK? CPI print is weaker than expected and there is SEK appreciation"?!" Thx.
Relevant articles for you

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com 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 Tradingfloor.com 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 Tradingfloor.com 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 Tradingfloor.com or as a result of the use of the Tradingfloor.com. 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 Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com 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