’Peak rates’ narrative continues to underpin momentum

Link to slide deck: https://bit.ly/3L3q2zG   - Momentum in equities is extending as 'peak rates' narrative gets stronger amid weakening macro data suggesting that tighter monetary policies are beginning to have an impact on the economy. We expect the ECB to go into a hawkish pause mode on policy rates and this thinking has got the market to bid up EURUSD in recent trading days. Momentum in gold is also responding well in recent weeks to the 'peak narrative' and elsewhere in commodities cocoa futures are approaching their highest price since early 2011. We also touch on earnings from Salesforce and UBS. Peter Garnry on equities and Ole S. Hansen on commodities.   Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic