Saxo Bank

NEWS DESK

WASDE projects record corn crop, tighter soybeans, wheat under pressure – Saxo Bank

PR News Desk 14/08/2025

The latest USDA World Agricultural Supply and Demand Estimates (WASDE) report delivered a jolt to U.S. grain markets on Tuesday, triggering sharp price moves across corn, soybeans and wheat. The report’s most significant surprise came in corn, where updated forecasts pointed to an even larger

NEWS DESK

COT Report: Speculators slash commodity longs to 11-month low, gold remains dominant – Saxo Bank

PR News Desk 11/08/2025

Commodities In the week to August 5, several major developments drove positioning changes across key commodities. Trump’s abrupt reversal on copper tariffs triggered a 22% slump in New York prices, prompting funds to halve their HG copper net long. In energy, OPEC+’s continued production increases—potentially into a softening demand period—pressured crude oil, while fading

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Tariff shock sends gold futures soaring – yet spot market holds the real signal – Saxo Bank

PR News Desk 08/08/2025

Gold futures on the COMEX exchange in New York soared overnight relative to the London spot price after an article in the Financial Times suggested the US would now—counter to expectations—apply tariffs on imports of 1 kg and 100 oz bars adding a fresh blow to Switzerland, the world’s largest refining hub. One-kilo bars are […]

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Crude oil caught between supply surge and geopolitical tensions – Saxo Bank

PR News Desk 07/08/2025

The global crude oil market continues to navigate a complex web of supply pressures and geopolitical crosswinds, with prices holding up surprisingly well despite expectations of an emerging supply glut once the peak summer demand season comes to an end, driven by rising OPEC+ output and fading global demand growth amid tariff-related demand concerns. Brent […]

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Trump tariffs, copper chaos, and the metals that still matter – Saxo Bank

PR News Desk 06/08/2025

President Trump continues to wield considerable influence over global markets, including commodities. In July, attention centered on intense trade negotiations ahead of the self-imposed August 1 deadline. While a framework deal was reached between the U.S. and EU, and talks with China continued ahead of the mid-August expiry of a 90-day tariff truce, other U.S. […]

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Make-or-break week for stocks: Key questions investors are asking – Saxo Bank

PR News Desk 29/07/2025

Macro data and monetary policy Q: Will the Fed hint at a September rate cut? A: While a July cut is unlikely, the decision is unlikely to be unanimous. A dissent from key members such as Waller or Bowman could shift market expectations toward a September move. That would likely trigger a rally in bonds […]

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Six months of Trump 2.0: Chaotic policy shifts, resilient markets – Saxo Bank

PR News Desk 22/07/2025

In just six months since Donald Trump returned to the White House, markets have experienced a whirlwind of policy headlines, geopolitical recalibrations, and economic crosswinds. Echoing Lenin’s famous words, there are decades where nothing happens, and weeks where decades happen. The first half of 2025 has seen the U.S. government adopt a more self-directed, assertive

NEWS DESK

NY copper surges on 50% Trump tariff threat – Saxo Bank

PR News Desk 09/07/2025

High-grade copper futures in New York surged on Tuesday, reaching a fresh record high of USD 5.8955/lb, after President Trump, during a cabinet meeting, stated he was considering a 50% tariff on copper imports—well above the 25% anticipated by the market. The remark reignited tensions around the ongoing Section 232 investigation into copper, which for […]

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Gold, silver, platinum take a timeout after strong first half – Saxo Bank

PR News Desk 09/07/2025

After a phenomenal first half, the investment metals sector has entered a period of consolidation. Gold has traded sideways for the past twelve weeks, creating space for silver and platinum to play catch-up. Yet with year-to-date gains of roughly 26% for gold and silver—and a remarkable 54% for platinum—the natural question from investors is: Is […]

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Markets Cautious as U.S. Tariff Pause Ends on July 9: Comments from Saxo Bank

PR News Desk 07/07/2025

“As the July 9 deadline approaches, the global economy is bracing for the expiration of the 90-day pause on sweeping U.S. tariffs introduced by President Trump earlier this year. Originally announced on April 2 as part of the administration’s “Liberation Day” trade overhaul, the pause was intended to give countries time to negotiate bilateral trade […]

NEWS DESK

Trader Outlook: Less chaos, and hopefully a bit more clarity

PR News Desk 04/07/2025

The world woke up to the threat of Trump’s “Liberation Day” tariffs early in Q2, responding with a crash-like swoon in early April as markets took the new trade regime seriously. But, as traders have come to expect—in what’s now called the “TACO trade” (Trump Always Chickens Out)—Trump quickly announced a 90-day delay to tariffs […]

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COT Report: Dollar shorts at four-Year high, Crude slump rattles speculators – Saxo Bank

PR News Desk 30/06/2025

Speculators raise dollar short to four-year high In forex, speculative flows in the week to 24 June – when the Dollar index dropped 1% to trade near a March 2022 low – continued to favour dollar selling, with the gross short position against eight IMM futures contracts rising 8% to USD 20.3 billion — marking […]

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Oil tumbles as Hormuz risk premium evaporates following symbolic retaliation and ceasefire deal- Saxo Bank

PR News Desk 24/06/2025

Since our latest update “Oil market on the edge as Hormuz risk premium builds“, which highlighted the market’s nervous response to President Trump’s decision on Saturday to support Israel in a coordinated strike on Iran’s nuclear facilities, the geopolitical landscape has shifted dramatically—removing in one swift move the supply risk premium that had built

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Making sense of the US–Iran conflict for investors – Saxo Bank

PR News Desk 23/06/2025

Markets were jolted this weekend as the US, under President Trump, launched airstrikes on three key Iranian nuclear sites, marking a historic escalation in Middle East tensions. The move came without Congressional approval, raising not just geopolitical risk—but also questions about US institutional stability and global investor confidence in US leadership. While the full

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Wheat rise on short covering and weather woes, but fundamentals still lacking – Saxo Bank

PR News Desk 19/06/2025

Wheat futures in Chicago surged to a two-month high on Wednesday, driven by adverse weather across key growing regions in the U.S., Europe, and Russia, alongside signs of robust export demand—particularly into North Africa. The rally, which comes ahead of the U.S. holiday, has been amplified by hedge funds reducing long-held short positions in both […]

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Fed Meeting Expectations – Comment from Saxo Bank

PR News Desk 17/06/2025

“As the Federal Reserve concludes its June 2025 policy meeting, expectations are firmly anchored around a decision to hold interest rates steady at the current target range of 4.25% to 4.50% . This pause reflects the Fed’s ongoing ‘wait and see’ approach amid a complex economic backdrop characterized by persistent inflationary pressures, resilient labor market […]

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COT Report: Speculators sell dollar, buy crude ahead of Middle East escalation – Saxo Bank

PR News Desk 16/06/2025

Speculators ramp up dollar shorts as DXY hits three-year low In the latest reporting week to 10 June, the US Dollar Index (DXY) extended its slide to a fresh three-year low, prompting a marked shift in speculative positioning. According to CFTC data, non-commercial traders increased their gross USD short positions against the eight major IMM […]

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Brent crude briefly breaches $70 amid Iran attack threats – Saxo Bank

PR News Desk 13/06/2025

Crude oil markets remain caught in a tug-of-war between bullish near-term demand and rising geopolitical risks on one hand, and macroeconomic headwinds and rising OPEC+ production on the other. In the last hours, Brent crude briefly traded above USD 70 and touched highs last seen in April before drifting lower, as traders continue to digest […]

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COT Report: Metals, energy demand offset by broad Ag selling – Saxo Bank

PR News Desk 11/06/2025

Forex In the latest reporting week to 3 June, the period saw the USD trade broadly weaker. Speculators nevertheless responded by reducing their overall short USD position versus the eight IMM FX futures contracts by 8%, to USD 12.2 billion. At the individual currency level, buying of EUR and MXN was more than offset by […]

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COT Report: Speculators sold crude ahead of OPEC hike – Saxo Bank

PR News Desk 02/06/2025

Geopolitical and tariff tensions spark strong weekly start for commodities The commodities sector has started the week with strong gains, led by energy and metals—both precious and industrial—in response to heightened geopolitical and tariff tensions. These developments follow a weekend that saw Ukraine launch a spectacular assault on several of Russia’s strategic