Saxo Bank Published a Forecast for 2020
OREANDA-NEWS. Saxo Bank (Denmark) published unofficial forecast named “Outrageous Predictions”.
Experts predict victory of Democrats in the US elections. They note that the victory of President Donald Trump in 2016 was secured by elderly white voters, and their share in the population is decreasing: now in the USA the most numerous generation is people from 20 to 40 years old, who are much more liberal. Millennials and the majority of people born in the 1990s oppose injustice, inequality and climate change. Trump denies these values, and Saxo Bank predicts that Democrats will strengthen control over the House of Representatives and seize the Senate.
As for oil, the experts expect that in 2020 Russia and OPEC will announce a new significant reduction in oil production due to a slowdown in shale oil production in the USA. At the same time, the next stage of the initial public offering of Saudi Aramco will provide valuation for investors outside of Saudi Arabia. The oil market will be taken aback, and the cost of a barrel of Brent oil will return to 90 US dollars per barrel.
Saxo Bank’s representatives say that attention to climate policy will increase long term interest in electric vehicles and car exhaust control systems. In 2020, Russia will have a favorable position being the largest supplier of palladium, which is used in automobiles to improve air quality.Despite Hungary’s economic success, the presence of the country in the European Union was called a 15 year marriage under the threat of divorce. According to Saxo Bank, the EU will launch a procedure against Hungary because of restrictions on the freedom of press, court, science, minorities and human rights defenders.