Show less
A ‘very odd’ US jobs report — #SaxoStrats
John J Hardy
Friday at 14:20 GMT
Why I would sell the FTSE 100: Lambert
Clive Lambert - FuturesTechs
Friday at 9:57 GMT
Technical analysis of a WTI crude oil trade: O'Hare
Steve O'Hare - First 4 Trading
Thursday at 8:14 GMT
Trading the Italian referendum – #SaxoStrats
Kay Van-Petersen
Tuesday at 13:01 GMT
Why I’m trading USDJPY: Coleman
Ian Coleman - First 4 Trading
Tuesday at 7:44 GMT
Gold rally to hit glass ceiling – #SaxoStrats video
Ole Hansen
28 November 2016 at 11:47 GMT
An action-packed macro week ahead — #SaxoStrats video
Kay Van-Petersen
28 November 2016 at 10:58 GMT
Macro Monday webinar week 48 – #SaxoStrats video
Saxo APAC SalesTrading
28 November 2016 at 9:05 GMT
Video / 07 October 2016 at 10:31 GMT

What’s next for GBP following flash crash: Hardy

John J Hardy
Cable dropped from the 1.26 area to 1.1378 in the space of three minutes but what does this overnight surprise mean for GBP, asks Saxo Bank’s head of FX strategy John Hardy.

He says that a large order may have set the big drop in sterling in motion with resting stop-loss orders triggered in thin market conditions. 

Few offsetting buy orders led to the dropout and although GBP has recovered somewhat, the pound is still lower on some crosses, says Hardy.

He also previews Friday’s US employment report and hopes the market also sees impressive hourly earnings figures to provide a base for a stronger dollar in the run-up to the US presidential election.

Relevant articles for you


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