Earnings season hits full stride after financials stumble

Link to slide deck: https://bit.ly/3pZ7bhT    -

The equity market was unable to hold an extension of the steep rally on Friday, with financials leading the intrasession selling. Strong results from JP Morgan and Wells Fargo saw those shares gapping strongly higher on the open, but generally selling off thereafter. In FX, the USD backed up after a strong US University of Michigan sentiment report for July that boosted yields, but last week on balance saw a firm break lower in the USD's fortunes. In commodities, we focus on crude oil and the divergent and volatile grains markets. We also look at the week ahead in earning and macro risks and more. Today's pod features Ole Hansen on commodities with John J. Hardy hosting and on FX.

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