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.
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
  • Squawk / Friday at 14:22 GMT
    Head of FX Strategy / Saxo Bank
    UK Prime Minister May speech: overall verdict is that we didn't get enough for investors to hang their hats on here. The tone from May was very cooperative and non-threatening, a few steps softer from the previous approach, so this is unlikely to ruffle any EU feathers directly.

    She was perhaps clever in guaranteeing that the UK will pay the EU what it owes during the transition period rather than mentioning a specific figure as this prevents appearing weak or criticism on the home front if that amount is negotiated higher (there was talk of EUR 20 billion on offer in the noise ahead of today, but many see this as unrealistically low). She did mention a two year transition period, but this likely to prove too short.

    All in all - the bottom line is that she is still asking for a very special arrangement from the EU - what will be the price? Market will wait for the EU response and the next round of talks before drawing bigger conclusions.
    Read the Squawk
    Oldiron25 Oldiron25
    This comment has been redacted
  • Squawk / Wednesday at 18:07 GMT
    Head of FX Strategy / Saxo Bank
    FOMC initial read is hawkish, according to reaction in interest rates, as the March Fed funds future dips several basis points from levels earlier today in response to the combination of the new statement and the accompanying materials. Comments to follow attached to this squawk below.
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    John J Hardy John J Hardy
    I still like GBP, but relative strength versus USD will be more difficult if USD rallying - EURGBP could be more interesting for expressing GBP strength.
    Urum Urum
    Agreed on the last point, John. There is the Brexit negotiations risk with GBP pairs, however, so everyone should keep that in mind I think.
    usxau usxau
    Having PM May up tomorrow might give some more direction on the pound and the renegade Johnsons' future!
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