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 USD is running into the end of the year on a soft note.</li><li>Seasonal trends pointed that way but CAD gains have been bolstered by the stronger risk appetite, as markets price in Fed rate cuts, and firmer industrial metals the correlation table suggests.</li><li>CAD gains are running ahead of fair value but, after a sustained period of undervaluation, that trend may persist. </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 running into the end of the year on a soft note.Seasonal trends pointed that way but CAD gains have been bolstered by the stronger risk appetite, as markets price in Fed rate cuts, and firmer industrial metals the correlation table suggests.CAD gains are running ahead of fair value but, after a sustained period of undervaluation, that trend may persist. 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>High beta currencies have done well over the past week.</li><li>A crack in the Fed’s hawkishness at last Wednesday’s FOMC boosted risk appetite and lifted pro-cyclical currencies.</li><li>Top of the pack over the last five trading sessions is the NOK (helped by the jump in Brent around Red Sea focus, for sure), followed by the ZAR, AUD, SEK and NZD.</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.

High beta currencies have done well over the past week.A crack in the Fed’s hawkishness at last Wednesday’s FOMC boosted risk appetite and lifted pro-cyclical currencies.Top of the pack over the last five trading sessions is the NOK (helped by the jump in Brent around Red Sea focus, for sure), followed by the ZAR, AUD, SEK and NZD.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 - Stretched Valuation Does Not Preclude More USDCAD Losses

<ul><li>There was a clearly dovish tilt to the Fed’s policy decision today.</li><li>The policy statement strongly suggests that, after holding the policy rate steady since July, the Fed is done tightening.</li><li>The dot plot implies a bit more easing in the Fed funds target rate next year than back in September.</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.

There was a clearly dovish tilt to the Fed’s policy decision today.The policy statement strongly suggests that, after holding the policy rate steady since July, the Fed is done tightening.The dot plot implies a bit more easing in the Fed funds target rate next year than back in September.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 – USDCAD Heads Lower post FOMC

<ul><li>The CAD has been one of the better performing major currencies over the past week allowing the rebound against the USD to develop a little more.</li><li>CAD gains are effectively testing 1.3495 retracement support highlighted in last week’s note.</li><li>The charts above reflect a modest USDCAD undervaluation now and a TRIX oscillator that is creeping a bit deeper into oversold territory. </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 has been one of the better performing major currencies over the past week allowing the rebound against the USD to develop a little more.CAD gains are effectively testing 1.3495 retracement support highlighted in last week’s note.The charts above reflect a modest USDCAD undervaluation now and a TRIX oscillator that is creeping a bit deeper into oversold territory. 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 - USDCAD Tests Retracement Support

<ul><li>Just after I sent out last week’s note, the CAD started to show some signs of a revival against the USD and averted further losses to retest the 1.39 area as I feared could be the case; there was some underlying resilience in the CAD after all.</li><li>But although the CAD has picked up ground against a soft USD this week, its 0.5% rise is the smallest among the major currencies.</li><li>The sharp slide in crude oil seemed to pin back the CAD Thursday but a look at the currency performance league on the week shows the MXN, NOK and AUD in the top five, with gains of at least 2%. </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.

Just after I sent out last week’s note, the CAD started to show some signs of a revival against the USD and averted further losses to retest the 1.39 area as I feared could be the case; there was some underlying resilience in the CAD after all.But although the CAD has picked up ground against a soft USD this week, its 0.5% rise is the smallest among the major currencies.The sharp slide in crude oil seemed to pin back the CAD Thursday but a look at the currency performance league on the week shows the MXN, NOK and AUD in the top five, with gains of at least 2%. 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 Lags But Can Progress Against Softer USD

Canada

The Canadian dollar is the official currency of Canada. 

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

CAD (USDCAD CURNCY)

CAD Weekly Outlook - Merry CADmas

The USD is running into the end of the year on a soft note. Seasonal trends pointed that way but CAD gains have been bolstered by the stronger risk...

Scotiabank

FX Snapshot - Stretched Valuation Does Not Preclude More USDCAD Losses

High beta currencies have done well over the past week. A crack in the Fed’s hawkishness at last Wednesday’s FOMC boosted risk appetite and lifted...

Scotiabank

FX Snapshot – USDCAD Heads Lower post FOMC

The real headwind for the CAD currently stems from weaker commodity prices generally and the soft turn in terms of trade that have resulted so far...

Scotiabank

CAD Weekly Outlook - USDCAD Tests Retracement Support

The CAD has been one of the better performing major currencies over the past week allowing the rebound against the USD to develop a little more.

Scotiabank

CAD Weekly Outlook - CAD Lags But Can Progress Against Softer USD

Just after I sent out last week’s note, the CAD started to show some signs of a revival against the USD and averted further losses to retest the...

Scotiabank

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)