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#FXDebates video: The Euro won't survive long
Allister Heath, Editorof City AM, says the Euro will not ...
Allister Heath, Editorof City AM, says the Euro will not survive in the long term as it is not an optimal currency area. "I don't think many of the member states have the political will to push through the radial free market reformsthat will be required to make it work. So I've very pessimistic about the single currency's long term future," he said at the Saxo #FXDebates event in London on May 7.
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#FXDebates video: Fewer Eurozone members in five years from now
David Powell, ,Senior EconomistatBloomberg,says five years from nowthere will no ...
David Powell, ,Senior EconomistatBloomberg,says five years from nowthere will no longer be 17 members in the Eurozone. He says at this stage though it is unclear which of the member states will not be included in the European Monetary Union. He made these comments at #FXDebates, a Saxo Bank event about "The euro in crisis" held in London on May 7.See more about Saxo Bank's FXDebates event.
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#FX Debates video: No quick fix to euro crisis
Lars Seier Christensen, co-CEO of Saxo Bank, believes the euro ...
Lars Seier Christensen, co-CEO of Saxo Bank, believes the euro is in a crisis that will not just pass. "It is the renewed reality for traders and investors," he said at #FXDebates, a Saxo Bank event held at Bloomberg's London officeon May 7."The euro is a doomed currency and a lot of people knew that already when it was introduced.Rationality needs to return to the Eurozone. If it doesn't recesion will turn into depression."See more of Lars Seier Christensen's commentary on TradingFloor.com.
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FX week ahead: Bullish for USD, EUR to struggle and AUD pressure
A better than expected April Nonfarm Payrolls report is good ...
A better than expected April Nonfarm Payrolls report is good news for the US economy and the US dollar. It has set the scene for a bullish week ahead for the US dollar which is seen outperforming against most currencies, says Steen Jakobsen, Chief Economist at Saxo Bank.Recent US data indicates that the US economy is marginally improving, while Europe keeps lagging, thereby increasing the growth differential. This was confirmed by the release of revised down growth projections for the Eurozone by the European Commission this week. Coupled with the European Central Bank's rate cut this week it is difficult to see where support for the euro will come from.Week aheadFor the week ahead Steen sees the following issues and events in focus:US: Market chatter about whether the Federal Open Market Committee will reduce its purchases in the market place.Europe: Discussion about why Europe is lagging so much behind the US and whether US growth will benefit European export companies, plus more talk of the need for overall reforms.Australia: Expectations about the Reserve Bank of Australia cutting its benchmark cash rate by 25 basis points and the pressure this puts on the Australian dollar.See more of Steen Jakobsen's commentary on TradingFloor.com.
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ECB rate cut: Does it mean anything?
In this video debate Mads Koefoed, Head of Macro Strategy, ...
In this video debate Mads Koefoed, Head of Macro Strategy, Saxo Bank and Steen Jakobsen, Chief Economist, Saxo Bank debate the significance of the European Central Bank's rate cut yesterday.Mads argues that the symbolic value of the 25 basis point cut to the refinancing rate to 0.50 percent should not be undersetimated as it shows the intent of the ECB to take action. Furthermore, even though it may not have an impact on the real economy it will have an impact on market psychology. He believes the ECB is likely to announce more non-standard measuresat its next rate meeting or later this year and refers to the surprise effect this has on markets like when the Securities Markets Programme (SMP) and the Outright Monetary Transactions programme (OMT) were introduced.Steen, on the contrary, argues the ECB action is just more of the same extend and pretend behaviour seen previously and that the road back to recovery is still lacking. He strongly believes that solving the problems of Europe requires looking deeper at structural issues, adding that in this regard the ECB appears to be without ammunition and just selling hope and guarantees. The OMT programme and similar initatives are examples of extend and pretend policies and at the end of the day we are left with dirigisme and just state intervention and no price discovery - meaning that the market cannot find its own equilibrium so we will end in a dead end, he says.See more of what Mads Koefoed and Steen Jakobsen are writing about on TradingFloor.com.
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Gold: A little less safe, though still a good investment
Gold feels a little less safe now after the dramatic ...
Gold feels a little less safe now after the dramatic sell-off a few weeks ago. On April 15 the price of gold fell about 14 percent in what was the biggest two day drop in three decades. Since then it has made up a lot of the ground again and is still considered a good investment, saysOle Hansen, Head of Commodity Strategy, Saxo Bank in a video about the precious metal.Inflation is very low which is not supportive for gold but data on the macro environment of late has been a bit disappointing. "Thiscould potentially leave investors a little bit undecided on equities and they might return to gold as an alternative investment," says OleIn Saxo Bank's Outrageous Predictions published at the beginning of the year Ole said gold could go to USD 1,200/oz. The fact that this prediction eventuated already this year took him by surprise. Theexpectationwas that gold prices would probably drop in 2014 and not already in 2013.He does not expect another sell-off later this year, though trading up towards USD 2,000 is not on the cards. In a USD 1,200 to USD 2,000 range he sees gold closer to the lower end for some time yet.TradingFloor.com has organised aGoogle+ Hangout that will discuss how gold has been performing over the past few weeks. The event will start on Thursday, May 2, at 16:00 CET (15:00 GMT), when the live video stream will automatically appear onTradingFloor.com, our Google+ page and on ourYouTubechannel. Be sure to ask yourquestionsahead of time. Participation is free.
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Trade Navigator provides useful trading tools
The Trade Navigator, launched on TradingFloor.com today, provides useful trading ...
The Trade Navigator, launched on TradingFloor.com today, provides useful trading tools and covers about 200 instruments (majors and also regional) within Forex, Commodities, Bonds and Equities. The tools identify resistance and support levels and provide general insight for traders to make informed decisions as well as manage risk. The tools include pivot points and accompanying support and resistance levels for traders to set stops, take profits and make entry points for daily trading. Trade Navigator also includes the Relative Strength Index, breakouts and Bollinger Bands. The Trade Navigator is available every day on TradingFloor.com. In this video Mads Koefoed, Head of Macro Strategy, Saxo Bank explains the benefits of Trade Navigator. For more information about Saxo Bank's Trade Navigator see: http://www.tradingfloor.com/blogs/trade-navigator
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#FXDebates: Exclusive interview with Michel Del Buono
Our exclusive coverage of the recent #FXDebate event in London ...
Our exclusive coverage of the recent #FXDebate event in London continues, this time with Michel Del Buono, the global strategist for Makena Capital Management, who says Germany is the winner at this point in the currency wars.
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#FXDebates: Exclusive interview with Bernd Berg
Our series of exclusive interviews at the recent #FXDebate event ...
Our series of exclusive interviews at the recent #FXDebate event in London continues, this time with Bernd Berg, the global emerging markets FX strategist at Credit Suisse, who favours the Mexican peso and Brazilian real as emerging market currencies. "They are the top performing currencies year-to-date," he says.
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#FXDebates: Exclusive interview with Valentin Marinov
Our series of exclusive interviews at the recent #FXDebate event ...
Our series of exclusive interviews at the recent #FXDebate event in London continues, with Valentin Marinov, the head of European G10 FX Strategy at CitiFX,forecasting the ECB to maketwo more rate cuts this year. Thiswill add to the cyclical winds for the EUR, which will "depreciate across the board on the back of that", he says.
