Macro: Sandcastle economics
Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.
Global Macro Strategist
Summary: Morning APAC Global Macro & Cross-Asset Snapshot
All market updates, research and trade ideas from our strategists in Copenhagen, Paris, Singapore and Sydney can be found at home.saxo => Traders => Market Analysis.
(Note that these are solely the views & opinions of KVP/sender of this email & do not constitute any trade or investment recommendations.)
Happy Macro Thu 10 Oct 2019
Cross-Assets Snapshot:
Generally pretty subdued sessions across asset classes with those FOMC minutes that came out, this could be due to the fact that they were stale – given the poor misses in US ISMs (both Mfg. & Non-mfg.), NFP & AHE that we got last wk were post the last Fed meeting.
S&P cash 2920 closed up +0.92%, after a negative equity session in Asia but positive one in Europe.
We continue to have the Dollar bid with DXY above 99.00 & DollarYen 107.33 climbing up +0.36%.
Gold managing to stay above $1500 with no change overnight is seeing some love this Asia Thu Mrn, up c. half a percent to 1514 lvls given the risk-off in equities & yields moving lower (UST 1.54%).
KVP would be itching for more downside expression here if we get into the 107.50 – 108.50 zone… we covered thoughts on positioning on yesterday’s Macro Brief… see the section titled Reflection of an investment strategist
Econ Data Today:
Other:
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