FOREX NEWS & BLOG

FX option expiries for 10 March 10am New York cut

FX option expiries for 10 March 10am New York cut

March 10, 2025 7:57 am |

There aren’t any major expiries to take note of on the day. As such, trading sentiment will continue to stick to the key themes from last week. In this instance, risk sentiment will be a key one to watch in the sessions ahead before we get any meaningful US data on the week.

There is a large expiry for USD/JPY at 148.00 but it shouldn’t have much influence nor impact given its lack of technical significance. The pair remains pinned lower amid higher JGB yields with the dollar also remaining more tepid in general.

For more information on how to use this data, you may refer to this post here.

This article was written by Justin Low at www.forexlive.com.

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Safra Sarasin Agrees to Buy 70% Stake in Saxo Bank

Safra Sarasin Agrees to Buy 70% Stake in Saxo Bank

March 10, 2025 7:49 am |

Swiss private bank J. Safra Sarasin has agreed to acquire a 70 per cent stake in Saxo Bank, which has been looking for a new buyer for months, in a deal valued at around 1.1 billion euro ($1.19 billion). This deal has put a valuation tag of about 1.6 billion euros on the Danish online trading and investment services provider.

The new owner will purchase Finnish Mandatum’s stake of 19.8 per cent in Saxo as well as the 49.9 per cent stake in Chinese group Geely. Saxo Bank’s founder and CEO, Kim Fournais, will continue to hold his 28 per cent stake in the company. He will also remain the CEO of the company.

Mandatum received its shares in Saxo from Sampo, a Nordic insurance group, following the demerger of the two companies.

“This strategic partnership underscores our commitment to providing exceptional service and innovative solutions to our clients and partners worldwide,” Saxo noted in a LinkedIn post, adding that the company will operate independently from its majority owner Safra Sarasin.

Saxo’s Divestments

Saxo also sold majority stake of its Australia operations recently to Johannesburg-headquartered DMA, a technology provider to financial advisers and wealth managers. Now, DMA agreed to buy 80.1 per cent of the Australian business, while Denmark’s Saxo Bank will retain 19.9 per cent. The two companies expect to close the transaction in the second half of 2025. However, the financial terms remain unknown.

Saxo Australia will eventually be rebranded after a transition period, during which its legacy branding will be retained. The business under the new ownership will also retain Saxo Australia’s staff, including its CEO, Adam Smith.

The Danish Group also closed its offices in Shanghai and Hong Kong as part of its restructuring in the Asia-Pacific region.

Meanwhile, Saxo ended a record-breaking 2024 with net profit soaring 287 per cent to €135 million from €35 million in the previous year. The company’s adjusted net profit reached €144 million, marking the most successful year in its history. However, it is now anticipating a negative impact on its revenue in 2025 following its decision to restructure its distribution model and narrow the number of markets, which resulted in the offboarding of existing clients in 2024.

This article was written by Arnab Shome at www.financemagnates.com.

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A quieter start to the new week but focus stays on US data

A quieter start to the new week but focus stays on US data

March 10, 2025 6:39 am |

The US jobs report on Friday didn’t turn out to be as disappointing as many were hoping for and that kept markets in check overall. The underlying trend is still pointing to added softness in the labour market though. And there’s also a slight concern with the unemployment rate ticking up despite the participation rate dropping.

As things stand, the odds of a May rate cut have eased to ~42% now but traders are seeing roughly three rate cuts by the Fed for this year. The first full rate cut is still priced in for June at the moment.

In FX, the dollar remains in a softer spot overall after the recent declines. But so far today, things are keeping steadier for the most part. USD/JPY is a notable mover having fallen to a low of 147.08 in Asia before returning to 147.60 now. The pair continues to tread water around its lowest levels since October last year as Japan bond yields continue to inch higher.

EUR/USD continues to hold above 1.0800 but failed at its attempt to get above the 200-week moving average at the end of last week. The key level is seen at 1.0865 this week and will be a line in the sand to watch out for.

Looking to the week ahead, the focus will stay on key US data releases with the US CPI report being the big one. There won’t be much on the agenda today but things will pick up in the days ahead as traders will look to the inflation numbers especially for their next gauge of the Fed outlook.

Tomorrow, we will get the JOLTS job openings, then the CPI on Wednesday, followed by PPI and weekly jobless claims on Thursday. And then we’ll round it up with the University of Michigan consumer sentiment reading on Friday.

This article was written by Justin Low at www.forexlive.com.

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