Article / 08 January 2015 at 9:55 GMT

Q1 Essential Trades: Maximum dislocation

Co-founder and CEO / Saxo Bank A/S

By Kim Fournais and Lars Seier Christensen

In many ways, 2014 was a year of extremes. From massive quantitative easing in Japan to frequent spikes in geopolitical tensions particularly in the wake of Russia’s annexation of Crimea, the year offered a continuous procession of surprises.

But the shocks that capped them all came in December, just as we prepared for the usual slowdown in year-end activity and volatility. 

This time last year who would have imagined that crude oil would plunge some 50% in the space of five months? Or that the ruble would virtually implode before our eyes, leaving Vladimir Putin and the central bank of Russia powerless to defend it?

But even though markets will always throw us curveballs, we can help mitigate any ill-effects with a dose of rationality. As Benjamin Franklin said: “An investment in knowledge pays the best interest”.

Which is why the members of our strategy team here at Saxo Bank have put their heads together and given us their best shots on how markets will pan out in the first quarter of 2015 and how best to trade them.

Forecasting the future is an inexact science – there’s never any guarantee that everything will go our way. That said, preparation, judgement and knowledge can only boost your prospects of a profitable outcome.

We wish you a happy and a prosperous 2015.


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