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>FX Market Update—After falling sharply at the start of the week, the USD is rebounding strongly and is trading higher against all its major currency peers on the session.</li><li>Weak risk appetite seems to be driving broad USD gains though European stocks and US equity futures are off earlier session lows.</li><li>Soft US tech earnings last night are weighing on sentiment but the bounce in the USD seems to overstate the general mood in markets. </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.

FX Market Update—After falling sharply at the start of the week, the USD is rebounding strongly and is trading higher against all its major currency peers on the session.Weak risk appetite seems to be driving broad USD gains though European stocks and US equity futures are off earlier session lows.Soft US tech earnings last night are weighing on sentiment but the bounce in the USD seems to overstate the general mood in markets. 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 Gains on Soft Risk Mood, CAD Soft Ahead of BoC

<ul><li>We are revising our forecasts for the major currencies along with updated economic forecasts (see tables on page 3 and here for the Forecast Update).</li><li>The weakness in the USD that we expected to develop over the second half of the year has not materialized.</li><li>Firm US economic data drove expectations that the Fed could deliver a little more tightening—and hold interest rates high for longer—allowing the USD to stay elevated.</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.

We are revising our forecasts for the major currencies along with updated economic forecasts (see tables on page 3 and here for the Forecast Update).The weakness in the USD that we expected to develop over the second half of the year has not materialized.Firm US economic data drove expectations that the Fed could deliver a little more tightening—and hold interest rates high for longer—allowing the USD to stay elevated.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>FX Market Update—The USD remains firm but gains versus the core majors are relatively minor, leaving the more significant USD advances on day so far concentrated against the likes of the MXN and ZAR as well as the NOK and SEK.</li><li>The GBP, CHF and JPY are all down less than 0.1% while the EUR is fractionally higher at writing. Stocks are lower in Asia and Europe while US futures are weaker.</li><li>Crude prices are slightly lower and bond market volatility remains elevated. US 10Y yields are up 9-10bps in overnight trade, reaching a little above 5%, while core European yields are up 7bps or so on the day. </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.

FX Market Update—The USD remains firm but gains versus the core majors are relatively minor, leaving the more significant USD advances on day so far concentrated against the likes of the MXN and ZAR as well as the NOK and SEK.The GBP, CHF and JPY are all down less than 0.1% while the EUR is fractionally higher at writing. Stocks are lower in Asia and Europe while US futures are weaker.Crude prices are slightly lower and bond market volatility remains elevated. US 10Y yields are up 9-10bps in overnight trade, reaching a little above 5%, while core European yields are up 7bps or so on the day. 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 Firmer but Core Majors Hold Steady

<ul><li>The CAD is ending the week slightly lower versus the USD. While this week’s data run has looked a bit soft, considering lower than expected the CPI data and today’s Retail Sales report, the broader tone of Canadian economic data continues to run a little warm— data reports are generally running a bit ahead of expectations.</li><li>And even with CPI easing a little in the September month, prices remain elevated and the risk of inflation getting stuck above target remains.</li><li>Factors driving the CAD have negatively shifted this week, however; correlations across a range of variables are strengthening but remain below statistically significant levels. </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 ending the week slightly lower versus the USD. While this week’s data run has looked a bit soft, considering lower than expected the CPI data and today’s Retail Sales report, the broader tone of Canadian economic data continues to run a little warm— data reports are generally running a bit ahead of expectations.And even with CPI easing a little in the September month, prices remain elevated and the risk of inflation getting stuck above target remains.Factors driving the CAD have negatively shifted this week, however; correlations across a range of variables are strengthening but remain below statistically significant levels. 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 Tone Remains Soft, Focus Turns to BoC

<ul><li>FX Market Update—Risk aversion is the primary characteristic of the markets this morning.</li><li>Global stocks remain soft as investors reduce exposure to equities amid concerns about a weekend escalation of the Israel/Hamas conflict.</li><li>Crude oil prices have picked up a little while major bond markets are mixed; US Treasury yields have eased 4- 5bps from yesterday’s close.</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.

FX Market Update—Risk aversion is the primary characteristic of the markets this morning.Global stocks remain soft as investors reduce exposure to equities amid concerns about a weekend escalation of the Israel/Hamas conflict.Crude oil prices have picked up a little while major bond markets are mixed; US Treasury yields have eased 4- 5bps from yesterday’s close.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 Despite Weak Risk Appetite

Canada

The Canadian dollar is the official currency of Canada. 

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CAD (USDCAD CURNCY)

FX Daily - USD Gains on Soft Risk Mood, CAD Soft Ahead of BoC

FX Market Update—After falling sharply at the start of the week, the USD is rebounding strongly and is trading higher against all its major...

Scotiabank

FX Forecast Update—October 2023

Firm US economic data drove expectations that the Fed could deliver a little more tightening—and hold interest rates high for longer—allowing the...

Scotiabank

FX Daily - USD Firmer but Core Majors Hold Steady

The GBP, CHF and JPY are all down less than 0.1% while the EUR is fractionally higher at writing. Stocks are lower in Asia and Europe while US...

Scotiabank

CAD Weekly Outlook - CAD Tone Remains Soft, Focus Turns to BoC

Factors driving the CAD have negatively shifted this week, however; correlations across a range of variables are strengthening but remain below...

Scotiabank

FX Daily - USD Mixed Despite Weak Risk Appetite

Global stocks remain soft as investors reduce exposure to equities amid concerns about a weekend escalation of the Israel/Hamas conflict.

Scotiabank

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