Video

Playlist: Brent Crude Spreads Jul-19 Aug-19

Show less
57:08
Commodities Update webinar — #SaxoStrats
Ole Hansen
25 May 2018 at 14:18 GMT
2:17
Trading WTI oil following Syrian air strikes — #SaxoStrats
Kay Van-Petersen
16 April 2018 at 8:25 GMT
11:00
From the Floor: Dollar sharply lower after FOMC
#SaxoStrats
22 March 2018 at 8:47 GMT
12:46
From the Floor: Expectations at a high ahead of FOMC
#SaxoStrats
21 March 2018 at 8:29 GMT
Video / 18 May 2018 at 7:15 GMT

From the Floor: Energy shares rise on crude oil rally – #SaxoStrats

#SaxoStrats
   • USDJPY makes new highs on Japanese CPI miss
   • Energy shares gain ground on crude oil rally
   • Richemont disappoints on revenue, gross margin

SaxoStrats
By Michael McKenna

The Iran deal-led rally in crude oil prices has spurred energy shares to surpass their January highs with Saxo Bank head of equity strategy Peter Garnry pointing to strong momentum and big inflows as the direct catalyst.

In today's Morning Call, Garnry shared the following breakdown of the energy-sector shares in Saxo's equities model, pointing to strong fundamental scores nearly across the board.

Energy sector
Source: Saxo Bank

Elsewhere in stocks, Swiss-based luxury conglomerate Richemont disappointed markets in revenue and gross margin terms, reporting operating profits of $1.84 billion versus $2.6bn expected by analysts as well as an excess supply of watches.

In Italy, Garnry says that equity investors could face headline risks over the weekend from Rome's new populist government, stating that short-term investors might not want to hold positions through what could be a turbulent period.

The broad strength seen in equities along with a slight miss in Japanese CPI overnight and high US 10-year yields saw USDJPY reach new highs, but Saxo Bank head of forex strategy John Hardy's focus today is on USDCAD ahead of a March retail sales print and April CPI data out of Ottawa.

USDCAD
Source: Saxo Bank 


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

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