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 USD is a little softer for a second day running as it continues to edge away from recent range peaks.</li><li>Trading appears light, with markets not particularly incentivized to move the USD significantly higher, or that much lower, while monetary policy prospects remain unclear.</li><li>A slightly firmer yuan, supported by the PBoC setting another strong fixing rate, has added to pressure on the USD somewhat in broad terms. </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 USD is a little softer for a second day running as it continues to edge away from recent range peaks.Trading appears light, with markets not particularly incentivized to move the USD significantly higher, or that much lower, while monetary policy prospects remain unclear.A slightly firmer yuan, supported by the PBoC setting another strong fixing rate, has added to pressure on the USD somewhat in broad terms. 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 Daily - USD Drifts Lower in Quiet Trade

<ul><li>Yesterday’s FOMC failed to deliver the hawkish policy messaging that many in the market feared.</li><li>The policy statement was all but unchanged and the dots continued to reflect a median expectation that rates would drop 75bps this year.</li><li>Longer run rate projections were lifted a little though and the economic projections reflected a bias towards stronger growth and somewhat higher inflation.</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.

Yesterday’s FOMC failed to deliver the hawkish policy messaging that many in the market feared.The policy statement was all but unchanged and the dots continued to reflect a median expectation that rates would drop 75bps this year.Longer run rate projections were lifted a little though and the economic projections reflected a bias towards stronger growth and somewhat higher inflation.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 Daily - USD Mixed as CHF Slides on Surprise SNB Rate Cut

<ul><li>The efficient market hypothesis precludes the persistence of seasonal trends in financial markets in theory, but studies have shown that calendar regularities do appear to persist over the long run in equities, for example (think “sell in May and go away…”), but also currencies.</li><li>FX traders are perhaps a little more dubious about these trends because while they do appear to persist over time, they are not consistent and might not be considered statistically significant.</li><li>With that cautionary note in mind, it is still worth noting the seasonality effect in FX.</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 efficient market hypothesis precludes the persistence of seasonal trends in financial markets in theory, but studies have shown that calendar regularities do appear to persist over the long run in equities, for example (think “sell in May and go away…”), but also currencies.FX traders are perhaps a little more dubious about these trends because while they do appear to persist over time, they are not consistent and might not be considered statistically significant.With that cautionary note in mind, it is still worth noting the seasonality effect in FX.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 - ‘Tis the Season for a Softer USDCAD

<ul><li>The USD is trading firmer across the board against the major currencies and markets generally have a cautious undertone as investors look ahead to the FOMC meeting outcome.</li><li>Stocks are trading lower in Europe and US equity futures are softer. Bonds are marginally better bid, pushing 10Y yields down 1-2bps.</li><li>The JPY is particularly weak, trading at its lowest since 2008 against the EUR and nearing recent, multi-year lows against the USD just under 152.</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 USD is trading firmer across the board against the major currencies and markets generally have a cautious undertone as investors look ahead to the FOMC meeting outcome.Stocks are trading lower in Europe and US equity futures are softer. Bonds are marginally better bid, pushing 10Y yields down 1-2bps.The JPY is particularly weak, trading at its lowest since 2008 against the EUR and nearing recent, multi-year lows against the USD just under 152.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 Daily - USD Strengthens into Fed Decision

<ul><li>The JPY has weakened nearly 1% following the BoJ’s decision to ditch its negative rate policy.</li><li>The central bank will set a policy rate range of 0-0.1% from now on and will also abandon its YCC and ETF purchases, in line with the reports that emerged yesterday ahead of the decision.</li><li>This is the first rate hike in Japan in 17 years. BoJ Governor Ueda said it was important to keep policy settings accommodative, suggesting that there was little rush to add to rate hikes for now. </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 JPY has weakened nearly 1% following the BoJ’s decision to ditch its negative rate policy.The central bank will set a policy rate range of 0-0.1% from now on and will also abandon its YCC and ETF purchases, in line with the reports that emerged yesterday ahead of the decision.This is the first rate hike in Japan in 17 years. BoJ Governor Ueda said it was important to keep policy settings accommodative, suggesting that there was little rush to add to rate hikes for now. 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 Daily - JPY Slides After BoJ Rate Hike

Canada

The Canadian dollar is the official currency of Canada. 

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CAD (USDCAD CURNCY)

FX Daily - USD Drifts Lower in Quiet Trade

Trading appears light, with markets not particularly incentivized to move the USD significantly higher, or that much lower, while monetary policy...

Scotiabank

FX Daily - USD Mixed as CHF Slides on Surprise SNB Rate Cut

The policy statement was all but unchanged and the dots continued to reflect a median expectation that rates would drop 75bps this year.

Scotiabank

FX Snapshot - ‘Tis the Season for a Softer USDCAD

The efficient market hypothesis precludes the persistence of seasonal trends in financial markets in theory, but studies have shown that calendar...

Scotiabank

FX Daily - USD Strengthens into Fed Decision

The USD is trading firmer across the board against the major currencies and markets generally have a cautious undertone as investors look ahead to...

Scotiabank

FX Daily - JPY Slides After BoJ Rate Hike

The JPY has weakened nearly 1% following the BoJ’s decision to ditch its negative rate policy. The central bank will set a policy rate range of 0...

Scotiabank

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