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>Last week’s broad rise in the USD is showing some signs of rolling over as markets position for the key economic releases due from the US in the next couple of days.</li><li>Today’s October CPI is expected to show a 0.1% rise in headline prices and a deceleration in the year-on-year rate to 3.3%, down from 3.7% in September.</li><li>Core prices are expected to rise 0.3% for a 4.1% gain in the October year—unchanged from September’s read. Retail Sales tomorrow are expected to reflect soft headline consumer activity in October (-0.3% m/m). </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.

Last week’s broad rise in the USD is showing some signs of rolling over as markets position for the key economic releases due from the US in the next couple of days.Today’s October CPI is expected to show a 0.1% rise in headline prices and a deceleration in the year-on-year rate to 3.3%, down from 3.7% in September.Core prices are expected to rise 0.3% for a 4.1% gain in the October year—unchanged from September’s read. Retail Sales tomorrow are expected to reflect soft headline consumer activity in October (-0.3% m/m). 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>We have revised our forecasts for the major currencies.</li><li>The weakness in the US dollar (USD) that we expected to develop over the second half of the year has not materialized.</li><li>Instead, a grind higher in the USD from the middle of the year was fueled by positive economic data and rising long-term yields amid simmering expectations that the Federal Reserve’s (Fed) tightening cycle could extend further. </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.

We have revised our forecasts for the major currencies.The weakness in the US dollar (USD) that we expected to develop over the second half of the year has not materialized.Instead, a grind higher in the USD from the middle of the year was fueled by positive economic data and rising long-term yields amid simmering expectations that the Federal Reserve’s (Fed) tightening cycle could extend further. 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>The USD continues to consolidate/correct recent losses.</li><li>The DXY has regained the upper 105 area so far on the session, reflecting some mild gains in US Treasury yields and little else.</li><li>Recall that, from a technical point of view at least, the DXY could/should recover to the 106.50 area to fill the gap left on the intraday/daily chart after last week’s slide. </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 continues to consolidate/correct recent losses.The DXY has regained the upper 105 area so far on the session, reflecting some mild gains in US Treasury yields and little else.Recall that, from a technical point of view at least, the DXY could/should recover to the 106.50 area to fill the gap left on the intraday/daily chart after last week’s slide. 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 Holds Gains in Quiet Trade

<ul><li>USD consolidation yesterday after hefty losses last week have developed into more gains on the session so far today.</li><li>Stocks are a bit softer, bonds are better supported, with European fixed income outperforming modestly, while crude prices have dropped back.</li><li>Fed President Kashkari commented late yesterday that it was “too soon to declare victory over inflation”, helping add to the USD’s rebound.</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.

USD consolidation yesterday after hefty losses last week have developed into more gains on the session so far today.Stocks are a bit softer, bonds are better supported, with European fixed income outperforming modestly, while crude prices have dropped back.Fed President Kashkari commented late yesterday that it was “too soon to declare victory over inflation”, helping add to the USD’s rebound.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 Steadies, Focus Turns to Fed Speakers

<ul><li>FX Market Update—The USD is trading broadly lower to start the week.</li><li>Treasury yields have nudged up a little on the session but European bond yields are up 3-4bps more on the day.</li><li>Stocks are lower in Europe but US equity futures are trading in the green. Crude oil prices remain choppy but have reversed some of Friday’s weakness. </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 broadly lower to start the week.Treasury yields have nudged up a little on the session but European bond yields are up 3-4bps more on the day.Stocks are lower in Europe but US equity futures are trading in the green. Crude oil prices remain choppy but have reversed some of Friday’s weakness. 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.

Japan

The Japanese yen is the official currency of Japan. 

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JPY (USDJPY CURNCY)

FX Daily - USD Mixed Ahead of CPI

Last week’s broad rise in the USD is showing some signs of rolling over as markets position for the key economic releases due from the US in the...

Scotiabank

Foreign Exchange Outlook - November 2023

We have revised our forecasts for the major currencies. The weakness in the US dollar (USD) that we expected to develop over the second half of the...

Scotiabank

FX Daily – USD Holds Gains in Quiet Trade

The USD continues to consolidate/correct recent losses. The DXY has regained the upper 105 area so far on the session, reflecting some mild gains...

Scotiabank

FX Daily - USD Steadies, Focus Turns to Fed Speakers

Stocks are a bit softer, bonds are better supported, with European fixed income outperforming modestly, while crude prices have dropped back.

Scotiabank

FX Daily - USD Strength Unravels

The USD is trading broadly lower to start the week. Treasury yields have nudged up a little on the session but European bond yields are up 3-4bps...

Scotiabank

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