SaxoTV

Currency market at a pivot point: Hardy

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Chinese exports fell significantly in February, spooking markets. But Saxo's John Hardy says the negative focus has always been there - it's just been obscured by a bounce in risk appetite and commodity prices. He asks whether currency markets are at a pivot point.

Hardy also looks at the recent surge in commodity currencies such as AUDUSD, USDCAD and NZDUSD, and asks whether it can last.

He focuses too on the US dollar, particurly against the euro and the Japanese yen. Both this week's European Central Bank meeting and next week's Federal Reserve meeting are important, he stresses.