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 trading generally lower again after failing to build on yesterday’s gains against the majors.</li><li>Market sentiment is positive on the day, with Asian (ex-Japan) and European equity markets firmly in the green; US equity futures are positive.</li><li>China announced a cut in bank reserve requirements (to take place in February) and suggested more support measures for stocks may be coming, helping risk sentiment.</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 trading generally lower again after failing to build on yesterday’s gains against the majors.Market sentiment is positive on the day, with Asian (ex-Japan) and European equity markets firmly in the green; US equity futures are positive.China announced a cut in bank reserve requirements (to take place in February) and suggested more support measures for stocks may be coming, helping risk sentiment.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 Daily - USD Drops Back as Risk Mood Improves

<ul><li>FX Market Update—The USD is trading narrowly mixed against the core majors on the session so far but early losses in the EUR are helping lift the DXY back towards the ceiling of the recent consolidation range in the index and giving the USD a generally firmer look.</li><li>The JPY and AUD are leading gains among the G10 currencies, with the KRW and ZAR at the top of the overnight performance league for the expanded major currency universe.</li><li>The BoJ left monetary policy settings on hold, as expected. But Governor Ueda’s said certainty around the price outlook was rising and that policy makers would consider raising rates if the Bank’s price objectives are in sight. </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.

FX Market Update—The USD is trading narrowly mixed against the core majors on the session so far but early losses in the EUR are helping lift the DXY back towards the ceiling of the recent consolidation range in the index and giving the USD a generally firmer look.The JPY and AUD are leading gains among the G10 currencies, with the KRW and ZAR at the top of the overnight performance league for the expanded major currency universe.The BoJ left monetary policy settings on hold, as expected. But Governor Ueda’s said certainty around the price outlook was rising and that policy makers would consider raising rates if the Bank’s price objectives are in sight. 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>FX Market Update—The USD is narrowly mixed in quiet trade. In general, the USD still appears to be consolidating after its early January rebound.</li><li>The recovery in the USD has a bit more to go in my opinion as US short-term yields reprice March FOMC risks but markets need a catalyst to drive more decisive movement.</li><li>Recall that the USD may also find support from bullish seasonal trends while longer-term technical signals suggest potential for the USD to recover more of its Q4 decline.</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.

FX Market Update—The USD is narrowly mixed in quiet trade. In general, the USD still appears to be consolidating after its early January rebound.The recovery in the USD has a bit more to go in my opinion as US short-term yields reprice March FOMC risks but markets need a catalyst to drive more decisive movement.Recall that the USD may also find support from bullish seasonal trends while longer-term technical signals suggest potential for the USD to recover more of its Q4 decline.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 Daily - USD Consolidates, CAD Lifted by Stocks

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

<ul><li>The market is pricing in a 25 basis point cut in the June meeting, with additional easing expected to reach a neutral level by the first half of 2025.</li><li>The ECB is expected to remain on hold at the upcoming meeting, with the focus on their updated views on growth, inflation, and any forward guidance.</li><li>The sell-off in recent weeks has been driven by the repricing of monetary easing expectations, but the strategic over duration stance remains comfortable, particularly in the medium term.</li></ul>This podcast is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

The market is pricing in a 25 basis point cut in the June meeting, with additional easing expected to reach a neutral level by the first half of 2025.The ECB is expected to remain on hold at the upcoming meeting, with the focus on their updated views on growth, inflation, and any forward guidance.The sell-off in recent weeks has been driven by the repricing of monetary easing expectations, but the strategic over duration stance remains comfortable, particularly in the medium term.This podcast is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Global Rates: January ECB Meeting and Euro Rate Markets

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.

Macroeconomics

<ul><li>Welcome to our flagship editorial!It is about this time of the year when we conclude that all year-ahead outlooks have already been blown to smithereens, but what is the major surprise this year?</li><li>Back in mid-December, between 5-7% of respondents in the widely renowned fund manager betted on higher interest rates and/or inflation in 2024.</li><li>This is the kind of consensus that only arises once we are leaning towards the mid-to-late innings of the recession, but the problem is that we are probably not even in a recession (in the US) yet.</li></ul>

Welcome to our flagship editorial!It is about this time of the year when we conclude that all year-ahead outlooks have already been blown to smithereens, but what is the major surprise this year?Back in mid-December, between 5-7% of respondents in the widely renowned fund manager betted on higher interest rates and/or inflation in 2024.This is the kind of consensus that only arises once we are leaning towards the mid-to-late innings of the recession, but the problem is that we are probably not even in a recession (in the US) yet.

Steno Signals #83 – A striking divergence between EUR and USD money trends

United Kingdom

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GBP (GBPUSD CURNCY)

FX Daily - USD Drops Back as Risk Mood Improves

Market sentiment is positive on the day, with Asian (ex-Japan) and European equity markets firmly in the green; US equity futures are positive.

Scotiabank

FX Daily - EUR Weakness Boosts DXY

The JPY and AUD are leading gains among the G10 currencies, with the KRW and ZAR at the top of the overnight performance league for the expanded...

Scotiabank

FX Daily - USD Consolidates, CAD Lifted by Stocks

The USD is narrowly mixed in quiet trade. In general, the USD still appears to be consolidating after its early January rebound.

Scotiabank

Global Rates: January ECB Meeting and Euro Rate Markets

The ECB is expected to remain on hold at the upcoming meeting, with the focus on their updated views on growth, inflation, and any forward guidance.

At Any Rate

Steno Signals #83 – A striking divergence between EUR and USD money trends

Welcome to our flagship editorial!It is about this time of the year when we conclude that all year-ahead outlooks have already been blown to...

Steno Research

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