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>Comments from Fed hawk Waller that he was encouraged by what policymakers had learned recently pressured US yields and the USD yesterday.</li><li>Additional comments on how quickly—hypothetically—rates could fall saw front-end yields rally.</li><li>Waller’s colleague Bowman was a bit more measured in her remarks but markets sense that the Fed cycle is done and focus is shifting to the timing of rate cuts. </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.

Comments from Fed hawk Waller that he was encouraged by what policymakers had learned recently pressured US yields and the USD yesterday.Additional comments on how quickly—hypothetically—rates could fall saw front-end yields rally.Waller’s colleague Bowman was a bit more measured in her remarks but markets sense that the Fed cycle is done and focus is shifting to the timing of rate cuts. 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 Edges Off Low but Headwinds Remain

<ul><li>FX Market Update—The USD is narrowly mixed against the major currencies in calm trade.</li><li>Global stocks are mostly lower on the session while major bond markets are slightly softer, driving 10Y bond yields a tick or so higher.</li><li>US 10Y bond yields fell some 10bps yesterday, adding to pressure on the USD broadly. </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 against the major currencies in calm trade.Global stocks are mostly lower on the session while major bond markets are slightly softer, driving 10Y bond yields a tick or so higher.US 10Y bond yields fell some 10bps yesterday, adding to pressure on the USD broadly. 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 Mixed but Lower Yields Weigh

<ul><li>The holiday-delayed CFTC data were worth the wait. The overall change in positioning reflected in this week’s data was significant.</li><li>Aggregate USD longs held by NonCommercial (speculative) traders were slashed in half ahead of the Thanksgiving break; overall speculative USD longs dropped USD5.4bn in the week to USD5.1bn.</li><li>In addition, data showed Real Money (institutional accounts) boosting net USD shorts by around USD7bn while Leveraged (hedge) Funds raised their aggregate USD longs by around USD500mn.</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 holiday-delayed CFTC data were worth the wait. The overall change in positioning reflected in this week’s data was significant.Aggregate USD longs held by NonCommercial (speculative) traders were slashed in half ahead of the Thanksgiving break; overall speculative USD longs dropped USD5.4bn in the week to USD5.1bn.In addition, data showed Real Money (institutional accounts) boosting net USD shorts by around USD7bn while Leveraged (hedge) Funds raised their aggregate USD longs by around USD500mn.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 – Traders Slash USD Longs

<ul><li>The USD ended last week on the defensive but a little off the early week low.</li><li>Still, the DXY closed out the week at its lowest since mid-August and below the 50– and 100-week MA as well as the 50% retracement support of the July/October rally.</li><li>The USD retains a weak undertone to start the new week and continued USD softness looks the main risk for markets in the near-term at least as investors adjust to the USD’s reduced growth and yield advantages. </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 ended last week on the defensive but a little off the early week low.Still, the DXY closed out the week at its lowest since mid-August and below the 50– and 100-week MA as well as the 50% retracement support of the July/October rally.The USD retains a weak undertone to start the new week and continued USD softness looks the main risk for markets in the near-term at least as investors adjust to the USD’s reduced growth and yield advantages. 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 is trading softer again overall on the session so far but the DXY is trading a little above its intraday low after EURUSD peaked around 1.0960 resistance earlier in the session and drifted off its best levels.</li><li>The JPY is the topperforming currency among the core majors on the day, racking up a 0.5% gain and rising to a two-month high.</li><li>Growing conviction that the Fed rate tightening cycle is complete, and that the next move from the Fed will be a cut, is supporting a rebound in the very depressed JPY. </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 softer again overall on the session so far but the DXY is trading a little above its intraday low after EURUSD peaked around 1.0960 resistance earlier in the session and drifted off its best levels.The JPY is the topperforming currency among the core majors on the day, racking up a 0.5% gain and rising to a two-month high.Growing conviction that the Fed rate tightening cycle is complete, and that the next move from the Fed will be a cut, is supporting a rebound in the very depressed JPY. 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 Losses May Moderate in Short Term

Japan

The Japanese yen is the official currency of Japan. 

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FX Daily - USD Edges Off Low but Headwinds Remain

Comments from Fed hawk Waller that he was encouraged by what policymakers had learned recently pressured US yields and the USD yesterday.

Scotiabank

FX Daily – USD Mixed but Lower Yields Weigh

lobal stocks are mostly lower on the session while major bond markets are slightly softer, driving 10Y bond yields a tick or so higher.

Scotiabank

Weekly CFTC Sentiment Report – Traders Slash USD Longs

The holiday-delayed CFTC data were worth the wait. The overall change in positioning reflected in this week’s data was significant.

Scotiabank

FX Daily - Soft USD Trend Set to Extend

The USD retains a weak undertone to start the new week and continued USD softness looks the main risk for markets in the near-term at least as...

Scotiabank

FX Daily - USD Losses May Moderate in Short Term

The USD is trading softer again overall on the session so far but the DXY is trading a little above its intraday low after EURUSD peaked around...

Scotiabank

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