External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Macroeconomics

<ul><li>Monitoring the recent upswing in the US market while awaiting the election results and decisions from the Fed The recent surge in the U.S. Dollar Index (DXY) and the rise in U.S.</li><li>Treasury yields can be largely attributed to the interplay of two main factors: (1) reflation riskwhich may slow the pace of rate cuts, and (2) the depreciation of key DXY basket currencies-particularly the Euro and Canadian Dollar.</li><li>Reflation risk is influenced by factors such as China’s stimulus measures, escalating Israel-Iran tensions, the resilience of the U.S. economy, and increased odds of a Trump election win which may potentially push larger deficit.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Monitoring the recent upswing in the US market while awaiting the election results and decisions from the Fed The recent surge in the U.S. Dollar Index (DXY) and the rise in U.S.Treasury yields can be largely attributed to the interplay of two main factors: (1) reflation riskwhich may slow the pace of rate cuts, and (2) the depreciation of key DXY basket currencies-particularly the Euro and Canadian Dollar.Reflation risk is influenced by factors such as China’s stimulus measures, escalating Israel-Iran tensions, the resilience of the U.S. economy, and increased odds of a Trump election win which may potentially push larger deficit.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Monthly Update Economic & Fixed Income Research October 2024

External broker reports(aggregated public sources), Scotiabank

Scotiabank

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The CAD has been one of the weaker performers over the course of the week but is heading into the long weekend here with a marginal loss against the USD of just over 0.2%.</li><li>That 0.2% still counts though and the CAD has been under pressure for much of the week after looking well bid and testing USD support around 1.3150 on Monday.</li><li>The CAD’s performance has been undercut by a mixture of factors but the broader market volatility around Fitch downgrade of the US” sovereign credit rating rattled the CAD a little as risk appetite weakened and, absent any compelling reason to buy, investors remain sidelined. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The CAD has been one of the weaker performers over the course of the week but is heading into the long weekend here with a marginal loss against the USD of just over 0.2%.That 0.2% still counts though and the CAD has been under pressure for much of the week after looking well bid and testing USD support around 1.3150 on Monday.The CAD’s performance has been undercut by a mixture of factors but the broader market volatility around Fitch downgrade of the US” sovereign credit rating rattled the CAD a little as risk appetite weakened and, absent any compelling reason to buy, investors remain sidelined. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CAD Weekly Outlook - CAD Finds Support in the High 1.33s

External broker reports, Nordea

Nordea

External broker reports

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Key summer developments at a glance: The Fed increased the funds rate by 25bp to the range 5.25-5.50%.</li><li>The central bank signalled that it will remain data dependent, maintaining its hiking bias on the back of inflation worries.</li><li>Still robust data from the real economy but also lower inflation data has buoyed markets view of a soft landing.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Key summer developments at a glance: The Fed increased the funds rate by 25bp to the range 5.25-5.50%.The central bank signalled that it will remain data dependent, maintaining its hiking bias on the back of inflation worries.Still robust data from the real economy but also lower inflation data has buoyed markets view of a soft landing.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Since 2020Q2, actual consumption has been below desired. </li><li>The gap between the two —a measure of pent -up demand —explains in large part the incredible resilience of the Canadian economy to the rapid rise in interest rates.</li><li>Low and accommodative real interest rates, record low unemployment, combined with increased net wealth through rising home equity and excess savings and high oil prices drove a substantial increase in Canadians’ desired level of consumption.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Since 2020Q2, actual consumption has been below desired. The gap between the two —a measure of pent -up demand —explains in large part the incredible resilience of the Canadian economy to the rapid rise in interest rates.Low and accommodative real interest rates, record low unemployment, combined with increased net wealth through rising home equity and excess savings and high oil prices drove a substantial increase in Canadians’ desired level of consumption.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pent-Up Demand, Resilient Economy, and Rising Interest Rates (August 2, 2023)

<ul><li>CFTC positioning data show a second successive improvement in speculative USD sentiment but the improvement is limited (less than USD500mn) and Speculative Accounts retain a net short USD position on aggregate of USD12.5bn.</li><li>This is little changed over the past three weeks, perhaps reflecting light, summer trading. Real Money Accounts retain a sizeable aggregate USD short position (USD38bn, up a little under USD2bn on the week) while Leveraged Accounts reversed a small, aggregate USD short position to a minor net long (USD5bn).</li><li>These hedge fund traders have tended to hold a similarly sized net USD long on aggregate since March.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CFTC positioning data show a second successive improvement in speculative USD sentiment but the improvement is limited (less than USD500mn) and Speculative Accounts retain a net short USD position on aggregate of USD12.5bn.This is little changed over the past three weeks, perhaps reflecting light, summer trading. Real Money Accounts retain a sizeable aggregate USD short position (USD38bn, up a little under USD2bn on the week) while Leveraged Accounts reversed a small, aggregate USD short position to a minor net long (USD5bn).These hedge fund traders have tended to hold a similarly sized net USD long on aggregate since March.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Weekly CFTC Sentiment Report - Speculative USD Sentiment Improves Slightly

Canada

The Canadian dollar is the official currency of Canada. 

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CAD (USDCAD CURNCY)

BRIDS Monthly Update Economic & Fixed Income Research October 2024

Monitoring the recent upswing in the US market while awaiting the election results and decisions from the Fed The recent surge in the U.S. Dollar...

BRI Danareksa Research

CAD Weekly Outlook - CAD Finds Support in the High 1.33s

The CAD has been one of the weaker performers over the course of the week but is heading into the long weekend here with a marginal loss against...

Scotiabank

Macro & Markets: Welcome back

Key summer developments at a glance: The Fed increased the funds rate by 25bp to the range 5.25-5.50%. The central bank signalled that it will...

Nordea

Pent-Up Demand, Resilient Economy, and Rising Interest Rates (August 2, 2023)

Since 2020Q2, actual consumption has been below desired. The gap between the two —a measure of pent -up demand —explains in large part the...

Scotiabank

Weekly CFTC Sentiment Report - Speculative USD Sentiment Improves Slightly

CFTC positioning data show a second successive improvement in speculative USD sentiment but the improvement is limited (less than USD500mn)

Scotiabank

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