External broker reports(aggregated public sources), Scotiabank

Scotiabank

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 a marginal $1.1bn in the week ended July 15, moderating to $17.5bn.</li><li>The position is sizeable however it has remained largely unchanged over the past few months, holding close to the bearish end of its range since 2023 but well shy of the extended levels reached in 2020/2021.</li><li>The largest w/w adjustments were observed in EUR and JPY, maintaining recent trends and delivering a continued build in the bullish EUR position alongside an extension of the softening JPY long.</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 a marginal $1.1bn in the week ended July 15, moderating to $17.5bn.The position is sizeable however it has remained largely unchanged over the past few months, holding close to the bearish end of its range since 2023 but well shy of the extended levels reached in 2020/2021.The largest w/w adjustments were observed in EUR and JPY, maintaining recent trends and delivering a continued build in the bullish EUR position alongside an extension of the softening JPY long.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.

Bullish EUR Position Extends Climb As JPY Long Continues To Fall

<ul><li>The aggregate USD short position was largely unchanged in the week ended July 8, widening a marginal $0.3bn to $18.6bn.</li><li>The position is sizeable and remains close to the bearish end of the range since 2023, however it is still well shy of the extended levels reached in 2020/2021.</li><li>This week’s adjustments offered a continued divergence in EUR and JPY positioning as speculators added to their large bullish EUR positions while paring back their JPY longs. </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 was largely unchanged in the week ended July 8, widening a marginal $0.3bn to $18.6bn.The position is sizeable and remains close to the bearish end of the range since 2023, however it is still well shy of the extended levels reached in 2020/2021.This week’s adjustments offered a continued divergence in EUR and JPY positioning as speculators added to their large bullish EUR positions while paring back their JPY longs. 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 - EUR Bulls Push Long To Fresh High

<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

Canada

The Canadian dollar is the official currency of Canada. 

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Bullish EUR Position Extends Climb As JPY Long Continues To Fall

The position is sizeable however it has remained largely unchanged over the past few months, holding close to the bearish end of its range since...

Scotiabank

CFTC Weekly Sentiment Report - EUR Bulls Push Long To Fresh High

This week’s adjustments offered a continued divergence in EUR and JPY positioning as speculators added to their large bullish EUR positions while...

Scotiabank

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

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