Denmark 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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  • Update / 1d
    Updated: related Stop If Bid Order to buy 20,000 AUDUSD FX Spot @ 0.93230 Good Till Cancelled
    Update / 1d
    Cancelled: related Limit Order to buy 20,000 AUDUSD FX Spot @ 0.92365 One Cancels Other
    Update / 10h
    Updated: related Stop If Bid Order to buy 20,000 AUDUSD FX Spot @ 0.93030 Good Till Cancelled
  • Squawk / 10 hours ago
    John J Hardy John J Hardy
    Head of FX Strategy / Saxo Bank
    Denmark
    "ECB Sources" not leaning on new policy initiatives just yet, according to an MNI story.

    MNI News Story hitting the wires: according to "ECB sources", there is no consensus on need for May policy action and no unanimity on any specific non-standard policy tool. Additionally, "possibility that inflation has hit bottom" and that low inflation readings are only relevant if they lead to a forecast revision. EURUSD ticks up on this as the farce continues....(Draghi was just out a little while ago talking up the potential for action, etc....)
    Read the Squawk
  • Squawk / 12 hours ago
    John J Hardy John J Hardy
    Head of FX Strategy / Saxo Bank
    Denmark
    BREAKING: Draghi speech hitting the wires here - says FX rate is increasingly important for policy, ECB will have to act if the lending channel doesn't improve, unconventional measures could have side effects, and says ECB minutes are a "logical next step".
    Read the Squawk
  • Squawk / 12 hours ago
    John J Hardy John J Hardy
    Head of FX Strategy / Saxo Bank
    Denmark
    EURSEK has bounced back after the Riksbank minutes released this morning, which show an increasing count of members more clearly leaning towards cutting the policy rate. Keep in mind that the meeting took place the day before the release of the very low March CPI release earlier this month, though one can presume that the Riksbank members might have had a sneak peek at this data. EURSEK found support today in the first support area of interest around 9.05 and may be ready to rally again from here rather than testing the bigger support around 9.00 after the German IFO survey today gave the Euro a boost.
    Read the Squawk
    12h
    John J Hardy John J Hardy
    Here's a link to the full minutes: http://goo.gl/NTLx9F
  • Squawk / Yesterday at 12:30 GMT
    John J Hardy John J Hardy
    Head of FX Strategy / Saxo Bank
    Denmark
    GBPUSD techs showing a bit of a momentum breakdown after the BoE minutes failed to build the hawkish case for the BoE (though they were relatively neutral - the market is simply leaning hard on sterling appreciation and needs constant input to keep the pressure higher). A bigger disappointment would be a move below the local support around 1.6775, below which recent longs have likely placed some portion of their stops. (See chart below.) The pair could be more vulnerable to downside accelerations after the most recent COT report showed net speculative sterling longs near their highest levels since 2007 as of last Tuesday and likely even longer now. Further out, a bigger breakdown awaits if 1.6700/1.6675 can't hold if/after the local support breaks.
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  • Update / 1d
    Added related Stop If Bid Order to buy 14,000 GBPUSD FX Spot @ 1.68230 Good Till Cancelled
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