The either-or moment for US stocks and gold
About this episode
The episode discusses the critical market conditions for US stocks and gold, highlighting key events and reactions in the financial landscape.
Today, a look at markets testing the lows again yesterday, but trying to put in a rally ahead of a huge market event tomorrow that could define where this market heads next in what could prove an either-or moment. Elsewhere, interesting market reaction to Oracle's earnings report after the close, and super-critical support levels have come into play for the gold price, which faces its own either-or moment technically and thematically as the USD remains strong. Lots more on macro and FX and more in today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links In "The abundance illusion" noted oil industry analyst Jeff Currie notes the risks the oil market (and the wider global economy) faces this summer as seasonal demand rises inexorably while oil has yet to begin meaningfully flowing through the strait of Hormuz again. Also, he notes China's "New Joule Order" which has its own tremendous implications as the country puts its energy system resilience on display. HT to FTAlphaville for another great link today, this one to a Kardamow substack article that discusses the same concerns Currie discusses in the above link, with some more data specifics. An FT…
People in this episode
Host: John J. Hardy
Topics covered
- US stocks
- gold
- market analysis
- Oracle earnings
- macro strategy
- FX
Keywords
- US stocks
- gold price
- market event
- Oracle earnings
- macro strategy
- FX
- oil market
- China energy
Mentioned in this episode
Organizations: Oracle, FTAlphaville, Stratechery.com, Apple
Places: US, Hormuz Strait, Omani coast
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