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 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>Markets reacted somewhat oddly to the BoC policy decision.</li><li>While the policy statement removed the wording around the suggestion that policy could be tightened further, that is hardly a surprising development, given that the last rate hike came in July.</li><li>There were few other dovish concessions in the statement, which rather laboured on about inflation and, especially, the persistence of underlying 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.

Markets reacted somewhat oddly to the BoC policy decision.While the policy statement removed the wording around the suggestion that policy could be tightened further, that is hardly a surprising development, given that the last rate hike came in July.There were few other dovish concessions in the statement, which rather laboured on about inflation and, especially, the persistence of underlying 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 Snapshot - US Data May Shift USDCAD Range

<ul><li>CFTC data for the week through December 10 reflects a small improvement in overall USD bullish sentiment.</li><li>Aggregate net Non-Commercial USD longs versus the major currencies we cover in this report rose USD1.5bn to USD24.3bn.</li><li>Additional data shows Real Money (institutional) traders cut their small net USD long from the prior week back to zero while Leveraged (hedge fund) traders boosted net USD longs by about USD2bn to USD10.5bn. </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 data for the week through December 10 reflects a small improvement in overall USD bullish sentiment.Aggregate net Non-Commercial USD longs versus the major currencies we cover in this report rose USD1.5bn to USD24.3bn.Additional data shows Real Money (institutional) traders cut their small net USD long from the prior week back to zero while Leveraged (hedge fund) traders boosted net USD longs by about USD2bn to USD10.5bn. 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 Data - USD Bull Sentiment Strengthens

<ul><li>The latest snapshot of FX sentiment from the CFTC’s Commitments of Traders data shows little change in USD positioning overall through early December, with traders perhaps lacking the motivation to adjust exposures after the Thanksgiving break.</li><li>Aggregate long USD positioning among Non-Commercial (speculative) accounts fell USD498mn over the week to USD22.8bn—after holding steady at USD23.3bn over the prior two weeks.</li><li>Additional data shows Leveraged traders (hedge funds) adding about USD1.5bn to net long USD positions, taking exposure up to USD8.5bn, while Institutional (real money) traders doubled net long USDs to USD3bn.</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 latest snapshot of FX sentiment from the CFTC’s Commitments of Traders data shows little change in USD positioning overall through early December, with traders perhaps lacking the motivation to adjust exposures after the Thanksgiving break.Aggregate long USD positioning among Non-Commercial (speculative) accounts fell USD498mn over the week to USD22.8bn—after holding steady at USD23.3bn over the prior two weeks.Additional data shows Leveraged traders (hedge funds) adding about USD1.5bn to net long USD positions, taking exposure up to USD8.5bn, while Institutional (real money) traders doubled net long USDs to USD3bn.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 - USD Sentiment/Positioning Stable

<ul><li>CFTC data reflects broadly steady positioning in the USD amongst all market participants running into the US Thanksgiving break last week.</li><li>Trends were split across specific currency contracts but aggregate exposure to the USD among NonCommercial (speculative) accounts was all but unchanged (just USD14mn higher, to be precise) on the week at USD23.3bn.</li><li>Leveraged traders (hedge funds) pared some USD2bn from their net long USD positions, taking exposure down to USD6.9bn, and Institutional (real money) traders held their tentative net long USD position little changed at USD1.3bn</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 data reflects broadly steady positioning in the USD amongst all market participants running into the US Thanksgiving break last week.Trends were split across specific currency contracts but aggregate exposure to the USD among NonCommercial (speculative) accounts was all but unchanged (just USD14mn higher, to be precise) on the week at USD23.3bn.Leveraged traders (hedge funds) pared some USD2bn from their net long USD positions, taking exposure down to USD6.9bn, and Institutional (real money) traders held their tentative net long USD position little changed at USD1.3bnContent 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 - USD Sentiment Mixed but Stable into Holiday Break

Canada

The Canadian dollar is the official currency of Canada. 

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CAD (USDCAD CURNCY)

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 Snapshot - US Data May Shift USDCAD Range

While the policy statement removed the wording around the suggestion that policy could be tightened further, that is hardly a surprising...

Scotiabank

Weekly CFTC Sentiment Data - USD Bull Sentiment Strengthens

Speculative traders moved in different directions on the major currencies. They boosted net JPY longs USD1.9bn and lifted net GBP longs by USD634mn.

Scotiabank

Weekly CFTC Sentiment Report - USD Sentiment/Positioning Stable

The latest snapshot of FX sentiment from the CFTC’s Commitments of Traders data shows little change in USD positioning overall through early December

Scotiabank

Weekly CFTC Sentiment Report - USD Sentiment Mixed but Stable into Holiday Break

CFTC data reflects broadly steady positioning in the USD amongst all market participants running into the US Thanksgiving break last week.

Scotiabank

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