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Playlist: GLEN:xlon

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1:51
Copper is a short-term sell: Garnry
Peter Garnry
12 August 2016 at 7:31 GMT
1:05
Mining share Glencore trade view: Neighbour
Joe Neighbour
21 July 2016 at 7:05 GMT
4:06
Garnry: Why a risky long in Glencore could eventually strike gold
Peter Garnry
30 September 2015 at 10:18 GMT
1:31
Fasdal: Are markets heading for the perfect storm?
Simon Fasdal
29 September 2015 at 9:32 GMT
1:48
Hardy: How I'm trading this risk-off sentiment
John J Hardy
29 September 2015 at 9:10 GMT
2:59
Hansen: Volkswagen scandal drives down industrial metals
Ole Hansen
23 September 2015 at 10:04 GMT
3:33
Garnry: Volatility is nothing to be afraid of and here's why
Peter Garnry
03 September 2015 at 10:06 GMT
1:14
Buy mining shares
Lea Jakobiak
15 August 2013 at 7:44 GMT
Video / 29 September 2015 at 9:10 GMT

Hardy: How I'm trading this risk-off sentiment

John J Hardy
Saxo's John Hardy discusses what the drivers are behind the risk-off sentiment that's been dominating the markets over the last 24 hours. On the one hand he looks at Glencore and the risk to the commodity market in general. On the other, he examines the crisis in emerging markets and in particular Brazil.

Regardless of what's sparked the risk-off appetite, Hardy says the correlations are moving to one across markets.

It means that both the euro and the Japanese yen are up  while the US dollar and sterling are holding the middle ground. It's commodity currencies that are at their weakest, notes John. 

For that reason, he has entered a #SaxoStrats trade this Tuesday in which he's shorted USDJPY. He warns that it is still stuck in a range and the trade could be stopped out if there is an improvement in risk sentiment. 

You can read more about John's USDJPY #SaxoStrats trade here.

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