Global Macro Strategist
Summary: Morning APAC Global Macro & Cross-Asset Snapshot
(Note that these are solely the views & opinions of KVP, they do not constitute any trade or investment recommendations of any kind.)
To see this wk’s Macro Monday click here
APAC Global Macro Morning Brief
-
At the same time, it looked like one autocrat talking to another with the Trump & Erdogan press event. Say what you want, yet Trump seems to be clearly long Turkey & that is likely good for Turkish assets
The US listed Turkish iShares MSCI etf TUR had a big uplift of +1.47% to 26.18 – chart looks like we are about to break out higher, with the 28.34 highs of January potentially within reach. Trump was talking about $100bn trade deal with Turkey
Once again say what you want about Trump… +9yrs of The Apprentice, this dude is a master instigator, check out one of the things he said:
“I think the president [Erdgogan] has a great relationship with the Kurds”
Just amazing & that’s the magic. Folks will focus on comments / statements like this, whilst he moves on to doing whatever he wants
It will be interesting to see if Congress has other plans/ideas around Turkey, similar to what we previously saw with Russia
-
Worth also noting overnight that US inflation was mixed, beat on headline 1.8%a 1.7%e 1.7%p, whilst Core CPI which is more important missed at 2.3%a 2.4%e/p. In the UK headline missed, yet Core CPI was in line at 1.7%
Euro-zone industrial production beat at +10bp a vs. -20bp e +40bp p
-
Today once again about Powell’s 2nd half of testimony to Congress. We do also have three more FOMC members speaking: Quarles, Clarida & Evans
We have jobs data out of Aus, always a big mover for markets there both equities & the Aussie crosses, following which we will get the monthly China growth data
Namaste
-KVP
Today:
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Fixed Income Strategy
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Commodity Strategy
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Fixed Income Strategy
Quarterly Outlook
Head of Commodity Strategy
Disclaimer
The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)