This is a period in which the global economy appears to be moving toward a “cold war” in commodities and, quite possibly, toward a new Supercycle—one not seen since the early 2000s. While the US continues to project its military and political power through actions, threats, and tariffs, China is steadily imposing restrictions on key […]
Over the past several weeks, the USD had experienced a series of modest appreciation sessions, clearly visible against both the Euro and the Swiss Franc. This move unfolded within a persistently low-volatility environment, which has kept the USD Index trading broadly sideways throughout the entirety of H2 2025, following a pronounced depreciation in the first […]
Just over a month ago, we focused our attention on silver (here), highlighting its growth potential when it was still trading around $53. In particular, we emphasized the metal’s structural production deficit: for several years now, global demand has consistently exceeded actual supply. This naturally raises the question of what has driven such a sharp—and […]
With each passing day, the focus for the coming months appears to be increasingly shifting toward companies within the industrial and defense complex—names that investors will likely need to become familiar with in the near future. As recently as Wednesday, January 7, Trump proposed a 2027 federal budget of USD 1.5 trillion, implying an increase […]
If we combine the relative strength of the euro with the structural weakness of the Japanese yen, we identify the FX cross in which the currency of the Land of the Rising Sun has depreciated the most against one of the three major global currencies. The primary driver, among the various macroeconomic factors influencing a […]
Several European indices have started the year at unprecedented levels. Spain’s IBEX 35 has surged to 17,620, the pan-European Euro Stoxx has climbed to 5,938, and Germany’s DAX is now trading around 24,960. The French CAC 40 is also very close to a bullish breakout. To this list we should add Italy’s FTSE MIB, which, […]
News of the capture of Nicolás Maduro, now former president of Venezuela, might lead some market participants to expect an immediate impact on energy markets. This assumption is understandable, given that the Caribbean nation sits atop the world’s largest proven oil reserves, estimated at 303 billion barrels—approximately 17% of global reserves—according to data from the […]
When speaking of Christmas, it is difficult for many not to think of a company that has accompanied them—and continues to do so—with its cartoons during this period throughout the years. The Walt Disney Company (DIS) has faced some challenging years recently but throughout 2025 it has completed its strategic pivot from aggressive subscriber acquisition […]
In recent weeks we have discussed both metals, not only in light of the strong performance delivered over the past couple of years—particularly throughout 2025—but also because of their growing popularity among retail investors, especially gold. Regarding XAU, we were not expecting outsized further appreciation. We analyzed it when it was trading around $4,050; after […]
From President Lagarde’s press conference, it was clear that the ECB is currently very comfortable with its prevailing monetary policy stance following the latest adjustment to the Main Refinancing Operations rate (2.15%) implemented last June. Only a clear and material deterioration in the medium-term growth outlook would be likely to alter the Governing Council’s perception […]
This website is not intended for residents of the European Union and operates outside the scope of the MiFID II regulatory framework. By selecting the option below, you confirm that you understand this notice and wish to proceed to OnEquity.
