Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
You can access all of our platforms from a single Saxo account.
FX Breakout Monitor: XAU outpaces also strong GBP and JPY
John J. Hardy
Chief Macro Strategist
Summary: The weak euro theme continues and sterling and yen have seen fresh surges on the day that are taking various crosses into breakout mode, while the US dollar has a bit more work to break higher against the smaller currencies and select EM currencies. Meanwhile, gold deserve plenty of our attention in breaking higher across the board against G10 FX lately, in many cases to all-time highs.
Today’s Breakout monitor
The FX Breakout Monitor is a concise PDF overview of all current and recent price breakouts for the short and medium term for major FX pairs and spot silver and gold.
A PDF of today’s Breakout Monitor
Below is a snapshot of the full list of currency pairs we track for the breakout monitor. The Euro downside breakouts continued today as EURUSD, EURJPY and EURCHF have all traded to new local lows. Elsewhere, we note that sterling remains on the move and has recently broken higher versus the CHF and EUR and is looking higher against the latter (EURGBP looking a new post-2016 low close) today again.
The currency most worth paying attention to on the day is gold – which, while still just shy of the recent intraday cycle highs versus the US dollar and well shy of the 2011 high water mark, has been breaking to new all time highs elsewhere lately, against the JPY and EUR, for example, just to name two prominent examples.
Today’s Breakout Highlight: XAUUSD
Gold is on the move today as spot gold versus the US dollar trades close to 1600 dollars again while the precious metals has reached new all-time highs against other currencies recently, including against the EUR and JPY today. While the pair is shy of the intraday high posted over the Iran-US hostilities that broke out at the very beginning of the year, it hasn’t closed as high as the current level as of the below snapshot in nearly 7 years (early 2013) and looks ready for more here on a strong close.
Latest Market Insights
Quarterly Outlook
-
-
Quarterly Outlook
Equity Outlook: Will lower rates lift all boats in equities?
Peter Garnry
Chief Investment Strategist
After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto... -
Quarterly Outlook
FX Outlook: USD in limbo amid political and policy jitters
Charu Chanana
Chief Investment Strategist
As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ... -
Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c... -
Quarterly Outlook
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
FX: Risk-on currencies to surge against havens
Charu Chanana
Chief Investment Strategist
Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperfo... -
Quarterly Outlook
Equities: Are we blowing bubbles again
Peter Garnry
Chief Investment Strategist
Explore key trends and opportunities in European equities and electrification theme as market dynami... -
Quarterly Outlook
Macro: Sandcastle economics
Peter Garnry
Chief Investment Strategist
Explore the "two-lane economy," European equities, energy commodities, and the impact of US fiscal p... -
Quarterly Outlook
Bonds: What to do until inflation stabilises
Althea Spinozzi
Head of Fixed Income Strategy
Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain ... -
Quarterly Outlook
Commodities: Energy and grains in focus as metals pause
Ole Hansen
Head of Commodity Strategy
Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities i...