Denmark
Trading strategy
Short term trading strategies in the major FX pairs - generally with an open and close on the same day, but in some cases stretching to two or three days if the local setup fits with the bigger perspective as well.
The account trades on retail spreads but without ticket fees for trades below the minimum threshold. This is in order to show the pure performance of the trades. The account and trade sizes are very modest to prevent absolute profit and loss swings from causing excessive distraction to the overall strategy execution.
Biography
John is Head of FX Strategy for Saxo Bank, based in Copenhagen, Denmark. John has developed a broad following from his popular and often quoted daily FX column, received by Saxo Bank clients and partners, the press and sales traders.
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Write a Squawk to John J Hardy
  • 7h
    Market Predator Market Predator
    APAC guy weak audio + missing Ole. Akmal saves reputation :))
  • Article / Thursday at 6:45 GMT

    Lo que se extrae de las minutas del FOMC

    Head of FX Strategy / Saxo Bank
    Denmark
    Minutas del FOMC: revelan una sólida discusión sobre cómo la Fed lanzará una reducción de su balance, con "casi todos" los miembros del FOMC a favor de comenzar de iniciar esta reducción este miso año a través de "roll-off caps".
    Read the article
  • Squawk / Wednesday at 18:12 GMT
    Head of FX Strategy / Saxo Bank
    Denmark
    FOMC Minutes : reveal a robust discussion of how the Fed will roll out a reduction of its balance sheet, with "almost all" FOMC voters arguing in favour of a 2017 start to quantitative tightening (QT) via "roll-off caps". The minutes mention that an unemployment at or below 4.5% is below the Fed's long run level and suggest that some believe that recent lower inflation is due to transitory factors while others expressed concern on the inflation front. This and the other language is not enough to excite interest in upgrading the Fed's rate hike path as STIR futures rally a basis point or two in immediate reaction and the USD weakens slightly.

    Some might argue that the FOMC minutes are from a meeting that came before all of the recent political noise that has so distracted markets, so the potential impact of the QT discussion may be somewhat reduced until the Fed updates its views at the mid-June FOMC meeting. But let's be wary of believing in the market's initial reaction.
    Read the Squawk
    4d
    AIRLINE AIRLINE
    Agree Fashionapolis, and I did also not see any words from Janet Yellen or the other members at Fed for their willingness to be locked up for...
    4d
    Fashionapolis Fashionapolis
    my guess is they will hike 1 or 2 more to 1.25% or 1.5% then talk about balance sheet trimming towards end of the year in Q4....
    4d
    Fashionapolis Fashionapolis
    i believe they will hike to 1.5%, take a pause and then focus on balance sheet trimming for next year
  • Squawk / Wednesday at 14:21 GMT
    Head of FX Strategy / Saxo Bank
    Denmark
    Bank of Canada meeting - CAD pulls sharply higher even as short term interest rates hardly shift on the monetary policy statement issued by the Bank of Canada. In it, the bank generally expresses optimism on the economy, citing "encouraging" data, but also points out that inflation is subdued and that together with subdued wage growth points to excess capacity. Growth is seen as cooling somewhat in Q2 after a very strong Q1.

    The statement indicates that " all things considered, Governing Council judges that the current degree of monetary stimulus is appropriate at present." This is a bit bland and short and not changed from the prior statement's language, but the prior meeting's statement saw a bit more caution in the statements preceding it. The 1.3450-1.3500 zone looks like last-gasp local support in USDCAD ahead of the important OPEC meeting tomorrow, which could see considerable oil market volatility, which can affect CAD as well.
    Read the Squawk
  • 5d
    Jim Earls Jim Earls
    First downgrade of China rating by Moody's since 1989-Is that not significant?
  • 19 May
    Mekong Mekong
    Hi John, I have watched your earlier trade in eur/usd, I didn't follow, but I have done something similar in the fx option you have...
    Update / 5d
    Sold 25,000 Euro/US Dollar FX Options 1.1030 Put @ 0.0031 to close a position
  • 5d
    Fashionapolis Fashionapolis
    As mentioned yesterday, Fed chief Janet Yellen could try to push a bit harder on starting to unwind the balance sheet as she may be in “legacy...
    4d
    Jim Earls Jim Earls
    More like "zombie mode" after almost 9 years of sub par 1% Fed Funds Rate-LOL.
  • 6d
    Morris Morris
    Implication to the Dollar Index, then Commodities and Equity Markets?
    5d
    Morris Morris
    Hi! John. No need for this as I got response from other contributors on the site. Thanks
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