External broker reports(aggregated public sources), Scotiabank

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External broker reports(aggregated public sources)

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.

FX & Rates

<ul><li>The aggregate USD short position narrowed $1.8bn in the week ended July 1, softening modestly to $18.3bn.</li><li>The bearish position is at the wider end of its multiyear range, but still well shy of the extended levels reached in 2020/2021.</li><li>Individual currency positioning adjustments were modest overall, favoring the USD while the AUD and NZD positions were left unchanged. </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 aggregate USD short position narrowed $1.8bn in the week ended July 1, softening modestly to $18.3bn.The bearish position is at the wider end of its multiyear range, but still well shy of the extended levels reached in 2020/2021.Individual currency positioning adjustments were modest overall, favoring the USD while the AUD and NZD positions were left unchanged. 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 Weekly Sentiment Report - Aggregate Bearish USD Position Holds Steady In Holiday Week

<ul><li>The CAD is rounding out the week in decent shape, with its net gain on the USD (around 0.6% at writing) leaving it at the top of the G10 performance table for the holiday-affected week.</li><li>The CAD’s performance reflects at least in part its snappy rebound from last Friday’s late drop as trade talks quickly got back on track after President Trump abruptly halted negotiations.</li><li>The CAD also recovered quickly from losses seen on Thursday around the release of the US NFP data. </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 is rounding out the week in decent shape, with its net gain on the USD (around 0.6% at writing) leaving it at the top of the G10 performance table for the holiday-affected week.The CAD’s performance reflects at least in part its snappy rebound from last Friday’s late drop as trade talks quickly got back on track after President Trump abruptly halted negotiations.The CAD also recovered quickly from losses seen on Thursday around the release of the US NFP data. 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 Grinds out Gains Despite Volatility

<ul><li>The aggregate USD short position widened $1.7bn in the week ended June 24, reaching $20.1bn.</li><li>The bearish position has already reached fresh local wides (lows) and is threatening the wides briefly tested in mid-2023.</li><li>This week’s adjustments were relatively minor, with notable w/w improvements in EUR (long build) and CAD (short reduction) and a minor deterioration in the GBP (long reduction).</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 aggregate USD short position widened $1.7bn in the week ended June 24, reaching $20.1bn.The bearish position has already reached fresh local wides (lows) and is threatening the wides briefly tested in mid-2023.This week’s adjustments were relatively minor, with notable w/w improvements in EUR (long build) and CAD (short reduction) and a minor deterioration in the GBP (long reduction).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 Weekly Sentiment Report - Bearish USD Bet Continues to Build

<ul><li>The aggregate USD position widened $2.6bn in the week ended June 17, reaching $18.5bn and a level that marginally exceeded last year’s wides.</li><li>The June 17 position date incorporated the latest BoJ policy decision and the most recent US CPI report.</li><li>The largest w/w swing was observed for the CAD, with notable improvements in EUR and NZD as well. </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 aggregate USD position widened $2.6bn in the week ended June 17, reaching $18.5bn and a level that marginally exceeded last year’s wides.The June 17 position date incorporated the latest BoJ policy decision and the most recent US CPI report.The largest w/w swing was observed for the CAD, with notable improvements in EUR and NZD as well. 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.

Bearish CAD Position Narrows As Aggregate USD Short Builds

<ul><li>Reports of the USD’s reserve currency death have been greatly exaggerated, and SWIFT international transaction data reveal a peerless dollar share nearing 50% of all transactions on the network, underscoring its prevailing position as the primary medium of global payments.</li><li>The next closest currency—EUR—hovers just below 25% and is showing signs of a slight pickup after plummeting from near-40% levels in early 2023.</li><li>The USD’s dominance is notable, and its recent ascendance is even more remarkable given that it had languished around 40% over much of the past decade.</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.

Reports of the USD’s reserve currency death have been greatly exaggerated, and SWIFT international transaction data reveal a peerless dollar share nearing 50% of all transactions on the network, underscoring its prevailing position as the primary medium of global payments.The next closest currency—EUR—hovers just below 25% and is showing signs of a slight pickup after plummeting from near-40% levels in early 2023.The USD’s dominance is notable, and its recent ascendance is even more remarkable given that it had languished around 40% over much of the past decade.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.

FX Snapshot - USD Payments Dominance Unchallenged As CAD Unseats CNY

Canada

The Canadian dollar is the official currency of Canada. 

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CAD (USDCAD CURNCY)

CFTC Weekly Sentiment Report - Aggregate Bearish USD Position Holds Steady In Holiday Week

The bearish position is at the wider end of its multiyear range, but still well shy of the extended levels reached in 2020/2021.

Scotiabank

CAD Weekly Outlook - CAD Grinds out Gains Despite Volatility

The CAD is rounding out the week in decent shape, with its net gain on the USD (around 0.6% at writing) leaving it at the top of the G10...

Scotiabank

CFTC Weekly Sentiment Report - Bearish USD Bet Continues to Build

This week’s adjustments were relatively minor, with notable w/w improvements in EUR (long build) and CAD (short reduction) and a minor...

Scotiabank

Bearish CAD Position Narrows As Aggregate USD Short Builds

The aggregate USD position widened $2.6bn in the week ended June 17, reaching $18.5bn and a level that marginally exceeded last year’s wides.

Scotiabank

FX Snapshot - USD Payments Dominance Unchallenged As CAD Unseats CNY

The USD’s dominance is notable, and its recent ascendance is even more remarkable given that it had languished around 40% over much of the past...

Scotiabank

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