External broker reports, Nordea

Nordea

External broker reports

External broker reports(aggregated public sources)

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Macroeconomics

<ul><li>Easing US inflation since early summer has paved the way for US rate cuts starting in September.</li><li>We do not however share the market perception about an imminent recession and believe the Fed will not need to cut faster than 25bp/quarter, waiting until December for their second move.</li><li>More sticky Eurozone inflation means the ECB will also move at the same quaterly pace.</li></ul><p><em>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.</em></p>

Easing US inflation since early summer has paved the way for US rate cuts starting in September.We do not however share the market perception about an imminent recession and believe the Fed will not need to cut faster than 25bp/quarter, waiting until December for their second move.More sticky Eurozone inflation means the ECB will also move at the same quaterly pace.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.

Major forecasts: Inflation low enough for the Fed

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul>
<li>Welcome to our weekly “The Week At A Glance” publication, where we explore the most important key figure releases and tradeable themes for the upcoming week.</li>
<li>We remain almost exclusively long on USD fixed income, and therefore, our attention is particularly focused on two key developments this week:</li>
<li>The Jackson Hole Conference and Ueda’s Appearance in the Japanese Parliament. Revisions to U.S. Employment Data: The Bureau of Labor Statistics (BLS) will release first-quarter 2024 data from the QCEW on August 21, 2024, at 10:00 a.m. (ET).</li>
</ul>


Welcome to our weekly “The Week At A Glance” publication, where we explore the most important key figure releases and tradeable themes for the upcoming week.
We remain almost exclusively long on USD fixed income, and therefore, our attention is particularly focused on two key developments this week:
The Jackson Hole Conference and Ueda’s Appearance in the Japanese Parliament. Revisions to U.S. Employment Data: The Bureau of Labor Statistics (BLS) will release first-quarter 2024 data from the QCEW on August 21, 2024, at 10:00 a.m. (ET).


The Week at a Glance: The USD in the (Jackson) Hole amidst Over 1 Million Jobs Disappearing?

Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>CPI dropped to 2.9% YoY in July, the lowest since March 2021, while Core CPI cooled to 3.2% YoY, reflecting a broad-based softening in inflation.</li>
<li>Retail sales surged 1% MoM, driven by a volatile 3.6% rise in motor vehicle sales, signaling resilient consumer spending despite mixed economic conditions.</li>
<li>Manufacturing and industrial production contracted, pushing the GDPNow forecast down to 2.4%, highlighting persistent weakness in these sectors.</li>
</ul>


CPI dropped to 2.9% YoY in July, the lowest since March 2021, while Core CPI cooled to 3.2% YoY, reflecting a broad-based softening in inflation.
Retail sales surged 1% MoM, driven by a volatile 3.6% rise in motor vehicle sales, signaling resilient consumer spending despite mixed economic conditions.
Manufacturing and industrial production contracted, pushing the GDPNow forecast down to 2.4%, highlighting persistent weakness in these sectors.


Mint Macro Roundup: U.S. Inflation Dips Below 3% Amid Stronger Retail Sales

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

FX & Rates

<ul>
<li>During the period under consideration, i.e. July 17th, 2024 to August 16th, 2024, the EUR/USD pair posted both downward and upward swings.</li>
<li>In the beginning, it faced a general decrease, until August 2nd where the pair faced a sharp increase.</li>
<li>After that, it fluctuated sideways and by the end of the period the pair traded at a higher level than July 17th.</li>
</ul>


During the period under consideration, i.e. July 17th, 2024 to August 16th, 2024, the EUR/USD pair posted both downward and upward swings.
In the beginning, it faced a general decrease, until August 2nd where the pair faced a sharp increase.
After that, it fluctuated sideways and by the end of the period the pair traded at a higher level than July 17th.


Comment on Exchange Rate EUR/USD August 16, 2024

<ul><li>Overall this print doesn’t change the picture a whole lot.</li><li>Inflation is soft enough for the Fed to cut, but it is not a “slam dunk” disinflation report either.</li><li>It is once again shelter and transportation that are standing in the way of a soft US CPI print.</li></ul>

Overall this print doesn’t change the picture a whole lot.Inflation is soft enough for the Fed to cut, but it is not a “slam dunk” disinflation report either.It is once again shelter and transportation that are standing in the way of a soft US CPI print.

US CPI Watch: The old culprits are back, but the report is soft enough for the Fed to cut

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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Major forecasts: Inflation low enough for the Fed

We do not however share the market perception about an imminent recession and believe the Fed will not need to cut faster than 25bp/quarter,...

Nordea

The Week at a Glance: The USD in the (Jackson) Hole amidst Over 1 Million Jobs Disappearing?

Welcome to our weekly “The Week At A Glance” publication, where we explore the most important key figure releases and tradeable themes for the...

Steno Research

Mint Macro Roundup: U.S. Inflation Dips Below 3% Amid Stronger Retail Sales

U.S. inflation fell below 3% for the first time in over three years. Despite mixed signals from the manufacturing sector, retail sales showed...

Mint Finance

Comment on Exchange Rate EUR/USD August 16, 2024

During the period under consideration, i.e. July 17th, 2024 to August 16th, 2024, the EUR/USD pair posted both downward and upward swings.

VRS (Valuation & Research Specialists)

US CPI Watch: The old culprits are back, but the report is soft enough for the Fed to cut

Overall this print doesn’t change the picture a whole lot. Inflation is soft enough for the Fed to cut, but it is not a “slam dunk” disinflation...

Steno Research

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