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Nasdaq 100 makes it to 10,000. One way price action and acceleration
Market Call, Wednesday, June 10, 2020 - Slide 1Source: Saxo Group
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If Nasdaq 100 gets too far away from log-trend then…
Market Call, Wednesday, June 10, 2020 - Slide 2
Source: Bloomberg
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USDJPY – continues to push lower
Market Call, Wednesday, June 10, 2020 - Slide 3Source: Saxo Group
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US treasuries critical for “fundamental market support” (multiples)
Market Call, Wednesday, June 10, 2020 - Slide 4Source: Bloomberg
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AUDUSD – watching the 0.7040 area resistance
Market Call, Wednesday, June 10, 2020 - Slide 5Source: Saxo Group
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FX and precious metals relative performance
Market Call, Wednesday, June 10, 2020 - Slide 6Source: Saxo Group and Bloomberg
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Inditex reports first loss on record in Q1; revenue in June down 34% y/y
Market Call, Wednesday, June 10, 2020 - Slide 7Source: Saxo Group
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Fed – how concerned is the Fed on inflation levels?
Market Call, Wednesday, June 10, 2020 - Slide 8Source: Bloomberg
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US economy slowed dramatically last week…
Market Call, Wednesday, June 10, 2020 - Slide 9Source: Bloomberg
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What will yield-curve control mean for equities?
Market Call, Wednesday, June 10, 2020 - Slide 10Source: Bloomberg
Source: Bloomberg
Fed yield-curve control 1942-1951
BOJ yield-curve control 2016-2020
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WTI crude oil awaits weekly EIA report
Market Call, Wednesday, June 10, 2020 - Slide 11
Source: Saxo Group
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Sugar pauses with oil after retracing half the sell-off
Market Call, Wednesday, June 10, 2020 - Slide 12
Source: Saxo Group
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Copper reaches first target as funds get busy buying and Goldman turn bullish
Market Call, Wednesday, June 10, 2020 - Slide 13
Source: Saxo Group
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Macro – Calendar Highlights
Today’s Calendar Highlights (all times GMT)
1000 – Sweden Riksbank’s Ingves to Speak
1230 – US May CPI
1430 – US Weekly DoE Crude Oil and Product Inventories
1800 – US FOMC Rate Decision, Monetary Policy Release
1830 – US Federal Reserve Chair Powell to Hold Press Conference
2301 – UK May RICS House Price Balance
This Week’s Calendar Highlights (all times GMT)
THU: US May PPI, US Weekly Initial Jobless Claims, Monthly WASDE report, EIA Natgas inventories
FRI: UK Apr. Manufacturing Production, France May CPI, US Jun. Preliminary University of Mich. Sentiment.
Market Call, Wednesday, June 10, 2020 - Slide 14