Saxo Market Call

Mar 07 2025 100 ep. 24 mins 496

Saxo Market Call Podcast artwork

For the aspirational trader and financial markets professional. Coming at you two to three times a week, the Saxo Market Call is the high frequency podcast for real-time analysis of the financial markets across asset classes, from forex and rates to equities and commodities.

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US bear market risks ratchet higher. EUR train has left the station.

Mar 07 2025 28 mins

Today's slide deck: https://bit.ly/4bvm276 - Today we look at the US stock market correction crossing its first key technical Rubicon as bear market risks ratchet higher. We also discuss the spiking Euro, Japan's likely desire to get USDJPY a lot lower, key commodities markets like oil, natural gas and copper and much more. Today's pod features Saxo Head of Commodity Strategy Ole H

Twin EU fiscal bazooka. Trump grift: bug AND feature?

Mar 05 2025 23 mins

Today's slide deck: https://bit.ly/4hVKEbD - Today we unpack the historic paradigm shift as the EU and Germany have unveiled titanic fiscal initiatives that are altering the landscape for European bonds and the euro. Also, we look at whether there is a Trump put, and ponder whether Trump's moves on crypto and to supercharge money laundering risks are a feature as much as a bug. R

Are we on the verge of a big whoosh?

Mar 04 2025 25 mins

Today's slide deck: https://bit.ly/4bsNZML - Markets are on technical and even an emotional edge as Trump tariffs have gone forward and as speculation swirls that Trump will announce something particularly dramatic at a speech later today. From currencies and gold to US tech and European defense, we have a look at what may come next, including the risk of a big risk-off "whoosh" he

Meltdown risks are rising. What to watch next.

Feb 28 2025 19 mins

Today's slide deck: https://bit.ly/3DnFXrX - Yesterday's combination of Trump tariff threats and weak US data spooked the market further, as did the technical implications of a breakdown through first key support levels in the Nasdaq 100 index a day after Nvidia earnings. Today we run down the really critical support levels that must hold to avoid a bigger meltdown or even bear mar

Nvidia earnings were a damp squib, now market is unleashed.

Feb 27 2025 21 mins

Today's slide deck: https://bit.ly/43cR9Ck - Today we break down Nvidia's earnings report. Long story short: its earnings don't look like they will be the trigger for the broader market direction from here, so now the market can do what it wanted to do with this distraction out of the way. Plenty more to talk about today, from the latest on Trump tariffs and US continuing to alter

Nvidia earnings incoming and must deliver or else

Feb 25 2025 22 mins

Today's slide deck: https://bit.ly/4ibC6x2 - Today we look at the ugly rollover in risk assets as markets fret the geopolitical backdrop and perhaps rein in risk exposure ahead of the most important earnings event of the quarter: Nvidia's, which reports after the market close on Wednesday. We also talk the blistering pace of geopolitical developments and policy moves from the Trump

A look ahead at Nvidia earnings and German election

Feb 21 2025 23 mins

Today's slide deck: https://bit.ly/431GGtt - Today we look at the pivotal German election this weekend and a number of scenarios in what will inevitably prove a weak showing for the centrist parties. We also discuss the implications of Walmart's weak outlook and look ahead at the most pivotal earnings event of the quarterly cycle: the post-Wednesday close Nvidia report. The latest

Europe is on fire

Feb 18 2025 23 mins

Today's slide deck: https://bit.ly/3EVhtGQ - European equity markets are on fire this year, and European defense stocks have lifted aggressively in recent days on fears that the entire transatlantic alliance is collapsing and will require a massive fiscal boost across Europe if it is to defend itself in a new geopolitical backdrop. We pick through one interesting angle on EU defens

Trump's risky gambit

Feb 14 2025 23 mins

Today's slide deck: https://bit.ly/4jWq1NY - Today we sift through the market reaction to Trump's announcement of reciprocal tariffs, with the market celebrating their delayed implementation until at least after the April 1 report on US trade policy. We also discuss the mostly wound-down US earnings season, which has proven the best in three years, the big reversal in bond yields,

How the USD bear case finds confirmation

Feb 11 2025 22 mins

Today's slide deck: https://bit.ly/417UZv0 - While we have made the USD bear case to materialize at some point, we don't have much in the way of confirmation that it will arrive sooner rather than later, even if USDJPY may have posted a significant top. Today, a look at what is needed to get that confirmation while also running through the news of the day and what to watch for next