Today's edition of the Saxo Morning Call features the SaxoStrats team discussing the continuing weakness of the US dollar as commodity prices recover ground and in the wake of key US equity indices hitting all-time highs Thursday.
Squawk / 23 April 2017 at 20:22 GMT
Global Macro Strategist / Saxo Bank Group - Singapore Hub
Good morning & Happy Macro Monday

Trade Update from mail sent early Asia Monday Morning

Following initial readings Le Pen & Macron as the first two in Round one, c. 24.3 & 22.2…

Giving a quick update on some of our positions

Trade Update Tactical Book (Macro Monday/Cross Asset Call)

1. We close off the balance of the USDCHF short at 0.9895 (low early Asia morning has been 0.9856). Probably runs lower, yet happy to take off at these lvls post event
Remember we’ve been short since 1.0045

2. We close off half the long EURUSD positioning at 1.0910 (high has been 1.0937). We move the stop up to 1.0870 (ITM) & move down the 2nd Tgt to 1.0992 (from 1.11)
Remember we’ve been long since 1.0798 & been to the grave & back with this trade
Will give the full update plus PnL impact on later on this morning’s Macro Monday, as well as further potential trade updates later… for instance could be looking to short Gold if we open above $1270 (closed c. $1284.44)… still having a think on that…
Andrew Perkins Andrew Perkins
Nice shout Kay EUR strength into next week we hope
Kay Van-Petersen Kay Van-Petersen

Great coverage by Telegraph.

Hey Andrew, lets see, ECB risk as always is to the upside - trixie given also that EZ CPI in on Friday... the day after they meet. Favorable positioning my friend. Best.


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