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 trend in recent CFTC data reports has reflected a moderation in bullish USD sentiment since the mid-January peak and that trend continued with the latest report filed on Friday.</li><li>Aggregate net long USD positioning among Non-Commercial (speculative) traders dropped USD4.7bn to USD26.5bn, the largest decline since late September (though that was just before the USD started its three-month rally).</li><li>Softening bullish sentiment is reflected in reduced net USD longs held by Leveraged (hedge fund) traders, which fell USD1bn to USD14.2bn while Real Money (institutional) traders slashed net USD longs by more than half to USD2.4bn this week. </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 trend in recent CFTC data reports has reflected a moderation in bullish USD sentiment since the mid-January peak and that trend continued with the latest report filed on Friday.Aggregate net long USD positioning among Non-Commercial (speculative) traders dropped USD4.7bn to USD26.5bn, the largest decline since late September (though that was just before the USD started its three-month rally).Softening bullish sentiment is reflected in reduced net USD longs held by Leveraged (hedge fund) traders, which fell USD1bn to USD14.2bn while Real Money (institutional) traders slashed net USD longs by more than half to USD2.4bn this week. 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 Fades as JPY Bulls Return

External broker reports, Nordea

Nordea

External broker reports

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. 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.

<ul><li>Trump’s trade policy is very unpredictable. Over a week ago, it was announced that Trump will introduce a 25% tariff on imports from Canada and Mexico, which will be postponed for a month, and a 10% tariff on imports from China.</li><li>In the last two weeks, Trump has also talked about the EU being the next target, and the EUR has weakened against most currencies, including the NOK.</li><li>This is probably part of the explanation as to why the NOK has strengthened somewhat. </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.

Trump’s trade policy is very unpredictable. Over a week ago, it was announced that Trump will introduce a 25% tariff on imports from Canada and Mexico, which will be postponed for a month, and a 10% tariff on imports from China.In the last two weeks, Trump has also talked about the EU being the next target, and the EUR has weakened against most currencies, including the NOK.This is probably part of the explanation as to why the NOK has strengthened somewhat. 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.

EURNOK Update: Limited Downside in EURNOK from Here

<ul><li>Dollar-bullish sentiment eased for a third week in a row though last Tuesday, the latest snapshot of FX positioning from the CFTC shows.</li><li>That’s a little surprising, considering that the data cover the period when tariff concerns had eased somewhat but were still elevated.</li><li>Non-Commercial (speculative) traders pared aggregate USD longs some USD2.5bn overall to just over USD31bn. </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.

Dollar-bullish sentiment eased for a third week in a row though last Tuesday, the latest snapshot of FX positioning from the CFTC shows.That’s a little surprising, considering that the data cover the period when tariff concerns had eased somewhat but were still elevated.Non-Commercial (speculative) traders pared aggregate USD longs some USD2.5bn overall to just over USD31bn. 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 - Bullish USD Sentiment Softens Further

<ul><li>CFTC data for the week through January 21st reflects the first pullback in USD bullish positioning since the start of December, with net Non-Commercial (speculative) traders trimming just under USD1 bn off their dollar longs.</li><li>Additional data shows Real Money (institutional) traders cutting around USD2bn off their net USD long positioning while Leveraged (hedge fund) traders held net longs unchanged.</li><li>The combined USD long positions across these three trading groups eased to approximately USD59bn—lower than the recent peak but still looking quite extended.</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 January 21st reflects the first pullback in USD bullish positioning since the start of December, with net Non-Commercial (speculative) traders trimming just under USD1 bn off their dollar longs.Additional data shows Real Money (institutional) traders cutting around USD2bn off their net USD long positioning while Leveraged (hedge fund) traders held net longs unchanged.The combined USD long positions across these three trading groups eased to approximately USD59bn—lower than the recent peak but still looking quite extended.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 - Speculative Traders Pare USD Longs

Macroeconomics

<ul><li>The inauguration speech by President Trump and the string of executive orders signed further suggested that while uncertainty about the exact palette of his measures remains high, he means business.</li><li>Even though his first actions did not include the immediate implementation of tariffs, such measures are also very likely ahead.</li><li>His victory has already been interpreted positively by many in the US, as illustrated by rising economic confidence numbers, especially among small businesses.</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 inauguration speech by President Trump and the string of executive orders signed further suggested that while uncertainty about the exact palette of his measures remains high, he means business.Even though his first actions did not include the immediate implementation of tariffs, such measures are also very likely ahead.His victory has already been interpreted positively by many in the US, as illustrated by rising economic confidence numbers, especially among small businesses.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.

United States

The euro is the official currency of the European Economic & Monetary Union.  The US dollar is the official currency of the United States of America.

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Weekly CFTC Sentiment Report - USD Sentiment Fades as JPY Bulls Return

The trend in recent CFTC data reports has reflected a moderation in bullish USD sentiment since the mid-January peak and that trend continued with...

Scotiabank

EURNOK Update: Limited Downside in EURNOK from Here

Trump’s trade policy is very unpredictable. Over a week ago, it was announced that Trump will introduce a 25% tariff on imports from Canada and...

Nordea

Weekly CFTC Sentiment Report - Bullish USD Sentiment Softens Further

Dollar-bullish sentiment eased for a third week in a row though last Tuesday, the latest snapshot of FX positioning from the CFTC shows.

Scotiabank

Weekly CFTC Sentiment Report - Speculative Traders Pare USD Longs

CFTC data for the week through January 21st reflects the first pullback in USD bullish positioning since the start of December

Scotiabank

Major forecasts: Different strokes

His victory has already been interpreted positively by many in the US, as illustrated by rising economic confidence numbers, especially among small...

Nordea

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