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☆ It's a 'pretty frustrating' time for many traders, strategist says
  + stars: | 2023-04-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a 'pretty frustrating' time for many traders, strategist saysCharu Chanana, market strategist at Saxo Markets, says markets are struggling to find direction and face a "Goldilocks situation."
☆ Instant view: Incoming BOJ chief Ueda says current low rates appropriate
  + stars: | 2023-02-24 | by ( ) www.reuters.com   time to read: +6 min
Feb 24 (Reuters) - Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said on Friday it was appropriate to maintain ultra-loose monetary policy as inflation has yet to sustainably and steadily meet the central bank's 2% target. "I think he's intentionally doing that, so that the market will calm down a little bit about policy change expectations." "I don't think Ueda has the same stance as (Haruhiko) Kuroda but it is not clear whether Ueda would tweak the BOJ policy as the market expected." CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"No surprises there, we expected Ueda to take it slow and he's starting off echoing Kuroda's views. He has been out of touch with the BOJ policy making since 2005 and will take time even if he was to consider policy normalisation at some stage."
☆ India's Adani shares nosedive as investors fret about Hindenburg fallout
  + stars: | 2023-02-03 | by ( ) www.reuters.com   time to read: +3 min
Hindenburg in its report said key listed Adani companies had "substantial debt" and that shares in seven Adani listed firms have an 85% downside due to what it called sky-high valuations. The Adani Group said the allegation of stock manipulation had "no basis" and stemmed from ignorance of Indian law. Its response stated that over the past decade, group companies have "consistently de-levered". In total, the seven listed Adani Group companies now have a market capitalisation of $99 billion, versus $218 billion before the Hindenberg report. The prices of U.S. dollar bonds issued by Adani Group entities edged higher on Friday after diving on Thursday.
☆ Bank of Japan keeps yield control policy unchanged
  + stars: | 2023-01-18 | by ( ) www.reuters.com   time to read: +7 min
MARKET REACTION:The Japanese stock market cheered the BOJ's decision with the Nikkei share average (.N225) jumping more than 2% after the midday break. Therefore, among equities, we think Japanese financials sector will have a rerating of valuations over the next 3-6 months." That could escalate when the new governor of the bank will be announced and towards the policy meeting in March." MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE, SINGAPORE"The can has been kicked down the road and the attention will shift to the next meeting. CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE:"I think the speculations will still continue.
☆ Meat bans, soaring gold prices and ‘un-Brexit’? One bank's ‘outrageous’ predictions for 2023
  + stars: | 2022-12-25 | by ( Hannah Ward-Glenton | ) www.cnbc.com   time to read: +5 min
Meat bans, soaring gold prices and Britain voting to 'un–Brexit' could be on the cards for 2023, according to Saxo's Outrageous Predictions. Bloomberg / Contributor / Getty ImagesSaxo Bank's "outrageous predictions" for 2023 include a ban on meat production, skyrocketing gold prices and Britain voting to "un-Brexit." "I think gold is going to fly," he added. Meat production to be banned Meat is responsible for 57% of emissions from food production, according to research published by Nature Food, and with countries across the world having made net-zero commitments, Saxo says it is possible at least one country could cut out meat production entirely. Meat is responsible for 57% of emissions from food production, according to research published by Nature Food.
☆ Investors are putting too much faith in China's reopening as sick workers will drag on the economy, Saxo strategist says
  + stars: | 2022-12-15 | by ( George Glover | ) www.businessinsider.com   time to read: +2 min
Investors shouldn't count on China's reopening to run smoothly, a Saxo Markets strategist has warned. Beijing pivoted away from its zero-COVID strategy last month, fueling hopes of an economic rebound. But workers calling in sick could drag on economic activity, Charu Chanana said. Workers calling in sick would likely weigh on economic activity by driving down production levels. Read more: Expect Chinese stocks to rally hard now that Beijing has set a 'clear path' to reopening, Morgan Stanley says
☆ Wall Street awaits midterm vote tallies
  + stars: | 2022-11-09 | by ( ) www.reuters.com   time to read: +6 min
Republicans were favored to win control of the House of Representatives and possibly the Senate, polls and betting markets showed earlier, though it may be hours before all vote tallies are known. read moreCOMMENTS:CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"The race seems to be closer than expected, especially for the Senate. "That said, if the Republicans take the Senate along with the House that provides a pro-business backdrop for the market." "A Republican win will in generally be positive for equities, but inflationary risk is unlikely to be mitigated nor accelerated." IPEK OZKARDESKAYA, SENIOR ANALYST, SWISSQUOTE BANK"From an investor point of view, a Republican win in both chambers is a good outcome for the stocks.
☆ Dollar rides Treasury yields higher, yen closes in on key 150 level
  + stars: | 2022-10-20 | by ( Rae Wee | ) www.reuters.com   time to read: +4 min
SINGAPORE, Oct 20 (Reuters) - The dollar loomed over major peers on Thursday as Treasury yields peaked at multi-year highs, while the yen slid to a fresh 32-year low and kept markets on high alert for any signs of an intervention. The fragile yen hit a fresh trough of 149.98 per dollar, its lowest since August 1990, and last bought 149.975. "Given that Treasury yields have moved decisively above 4%, were it not for the threat of intervention then I think dollar/yen would already be trading north of 150." The benchmark U.S. 10-year Treasury yield rose to 4.154% on Thursday, its highest level since mid-2008, while the two-year Treasury yields touched a 15-year high of 4.582%. "Because central banks misjudged how high inflation would go, they're really still catching up by increasing interest rates significantly, and that's going to cause big problems for the world economy, particularly next year," said CBA's Capurso.
☆ Dollar rides Treasury yields higher, yen flirts with key 150 level
  + stars: | 2022-10-20 | by ( Rae Wee | ) www.reuters.com   time to read: +4 min
The Japanese yen hit a fresh trough of 149.96 per dollar, its lowest since August 1990, and last bought 149.92. "Given that Treasury yields have moved decisively above 4%, were it not for the threat of intervention then I think dollar/yen would already be trading north of 150." The benchmark U.S. 10-year Treasury yield rose to 4.154%, its highest level since mid-2008, while the two-year Treasury yields touched a 15-year high of 4.582%. It bottomed at 7.2794 per dollar, the lowest level since such data first became available in 2011, and last traded 7.2615. It had hit an almost two-week high of $0.5719 on Tuesday, following release of a hot inflation data, prompting bets of a more aggressive central bank rate hike.
☆ Sterling pauses after UK fiscal U-turn rally, yen scrabbles off 32-year low
  + stars: | 2022-10-18 | by ( Joice Alves | ) www.reuters.com   time to read: +4 min
British pound banknote is displayed on U.S. Dollar banknotes in this illustration taken, February 14, 2022. Register now for FREE unlimited access to Reuters.com RegisterAfter Monday's almost 2% rally, sterling was down 0.1% against the U.S. dollar to $1.1340 at 0815 GMT. Improved risk sentiment has bolstered the euro to $0.9872, its highest since Oct. 6, with a fall in energy prices also supporting the single currency. "Euro/dollar went under parity in late August largely driven by the negative terms of trade shock of higher energy prices. The UK news saw the risk-sensitive New Zealand dollar , already lifted by hotter-than-expected consumer inflation data, extend its surge, up 1% to $0.5691.
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