Alex Cowie

Mark Haefele, the Global Chief Investment Officer at UBS penned a short note on the US market’s drastic pullback, calling for calm and suggesting it is not time to reduce exposure, not unless rates or inflation keep rising. Here’s his comment in full: Show More

Gavin Wendt

Gold’s best friends at present are the US Federal Reserve and Donald Trump. The US dollar is weakening as the opposition of two more Republican senators to the US healthcare bill this week meant the measure is effectively dead in its current form. Show More

Alex Joiner

US ten-year bond yields have fallen approximately 25bp since March and are at around 2.1%. Australian government bond yields have likewise fallen by around 60bp to 2.4%, after briefly looking to breach 3% back in February. However, what is more notable is the narrowing of the spread between the two,... Show More

Gavin Wendt

You might recall that the US Fed made noises throughout 2015 about interest rate 'liftoff', resulting in an initial 25-basis point rise in late 2015. It told markets to expect 3-4 interest rate hikes during 2016 - it's now September and we've not seen the first. Markets have become accustomed... Show More

John Robertson

Metal prices have been rallying as the U.S. dollar has turned down. Without supportive global growth momentum, the mining industry will have to rely on a continuation of unlikely exchange rate movements for ongoing improvement in metal prices. This is the ‘Where are we in the Cycle’ theme from this... Show More

Saxo Capital Markets Australia

Since the beginning of the month the Japanese Yen has only traded downwards against the US dollar. Even with the shock move into negative rates territory by the Bank of Japan has been unable to exercise any lasting effect on weakening the JPY exchange rates. Saxo’s Head of FX Strategy... Show More

Saxo Capital Markets Australia

This week gold has reached the lower end of its current range. The news from the currency market is that real money dollar buyers have only just started to react to the recent weakness in EURUSD. Saxo's head of commodity strategy Ole Hansen says that whether this will translate into... Show More