USDJPY breakdown despite firm US jobs data

Today, most interesting to note that the positive US jobs report was unable to inspire sustained new highs in US treasury yields or spark a US dollar rally, with USDJPY even breaking down below critical support to start the week as US markets are closed for the extended Labor Day holiday. Elsewhere, AI hardware stocks are trying to get back their mojo as OpenAI has released its latest model. More on the earnings and macro focus for the week ahead and much more also on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links

An X post by "JH" describing the alarming copper supply shortage that must be overcome, likely with a tremendous price signal, if we are to continue building out AI and electrifying our economies.

OpenAI's chief scientist with a piece on the prospects of AI achieving new levels of super-human intelligence and the implications in a piece somewhat ominously titled An Alien Mind.

In the wake of watershed Germany elections at the weekend in Saxony-Anhalt and other events across Europe and elsewhere, Michael Every's latest piece follows the threads connecting political events across Europe and around the world.

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