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.

Macroeconomics

<ul><li>Ayako Takashi advocates for responsible expansionary fiscal policy, focusing on income distribution rather than aggressive fiscal expansion.</li><li>Takashi's comments on the relationship between the government and the Bank of Japan do not necessarily indicate clear intervention, but may put pressure on the central bank.</li><li>The BOJ may need to deliver rate hikes every six months to combat elevated inflation, with market expectations of a terminal rate around 1%. Timing of rate hikes may be tricky, especially with fluctuating exchange rates.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Ayako Takashi advocates for responsible expansionary fiscal policy, focusing on income distribution rather than aggressive fiscal expansion.Takashi's comments on the relationship between the government and the Bank of Japan do not necessarily indicate clear intervention, but may put pressure on the central bank.The BOJ may need to deliver rate hikes every six months to combat elevated inflation, with market expectations of a terminal rate around 1%. Timing of rate hikes may be tricky, especially with fluctuating exchange rates.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Asia Cross Asset Podcast: Japan - The New LDP Leader: Implications for policy and markets

Covering the Mexican Economy, Actinver Research

Actinver

Covering the Mexican Economy

Actinver Research

Actinver is a mexican leading financial group, that generates well being for individuals and companies through advisory services that provides investment management to maintain and grow their wealth.

<ul>
<li>The Bank for International Settlements’ (BIS) triennial survey highlights the continued expansion of global foreign exchange activity.</li>
<li>The Mexican peso reaffirmed its relevance, ranking among the most actively traded currencies worldwide and consolidating its position as one of the leading currencies within emerging markets.</li>
<li>According to the BIS Triennial Central Bank Survey on foreign exchange markets (April 2025), global FX trading volumes increased by 28% compared with the 2022 survey, reaching an average daily turnover of USD 9.6 trillion.</li>
</ul>


The Bank for International Settlements’ (BIS) triennial survey highlights the continued expansion of global foreign exchange activity.
The Mexican peso reaffirmed its relevance, ranking among the most actively traded currencies worldwide and consolidating its position as one of the leading currencies within emerging markets.
According to the BIS Triennial Central Bank Survey on foreign exchange markets (April 2025), global FX trading volumes increased by 28% compared with the 2022 survey, reaching an average daily turnover of USD 9.6 trillion.


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 aggregate USD short widened modestly in the week ended September 23, with a $0.8bn w/w build to $8.6bn.</li><li>This was the third consecutive week of deterioration in aggregate USD positioning, suggesting a renewed appetite for bearish USD bets following a period of short covering that was observed through much of July and August.</li><li>Adjustments among the reporting currencies were mixed, with a sizeable increase in the JPY long and short covering in CHF and GBP. </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 aggregate USD short widened modestly in the week ended September 23, with a $0.8bn w/w build to $8.6bn.This was the third consecutive week of deterioration in aggregate USD positioning, suggesting a renewed appetite for bearish USD bets following a period of short covering that was observed through much of July and August.Adjustments among the reporting currencies were mixed, with a sizeable increase in the JPY long and short covering in CHF and GBP. 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 Weekly Sentiment Report - JPY Net Long Sees Sizeable Build , Likely Driven By Hawkish BoJ

<ul><li>The aggregate USD short was largely unchanged in the week ended September 16, widening a modest $0.7bn w/w to $7.8bn, in a reporting period that captured speculative positioning into the Fed, BoC, BoE, and BoJ policy meetings.</li><li>Individual reporting currency swings offered some interesting w/w changes with notable short covering in GBP and AUD alongside a sizeable reduction in the JPY net long.</li><li>Speculators also slightly pared back their massive EUR long. The EUR remains the largest held net long, followed by the JPY in a distant second. </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 aggregate USD short was largely unchanged in the week ended September 16, widening a modest $0.7bn w/w to $7.8bn, in a reporting period that captured speculative positioning into the Fed, BoC, BoE, and BoJ policy meetings.Individual reporting currency swings offered some interesting w/w changes with notable short covering in GBP and AUD alongside a sizeable reduction in the JPY net long.Speculators also slightly pared back their massive EUR long. The EUR remains the largest held net long, followed by the JPY in a distant second. 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 Weekly Sentiment Report - Speculators Covered GBP Shorts Ahead Of BoE

<ul><li>The aggregate USD short widened a notable $2.1bn in the week ended September 9, reaching $7.2bn in a reporting period that captured the US/Canada jobs disappointments and the media reporting of the BoJ’s intention to resume tightening by year end.</li><li>The largest w/w swings were observed in JPY and EUR, as both net longs increased. The CHF short widened modestly, and all of the remaining currencies saw there positions remain largely unchanged w/w.</li><li>The EUR remains the largest net long, followed by JPY, with MXN a distant third. </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 aggregate USD short widened a notable $2.1bn in the week ended September 9, reaching $7.2bn in a reporting period that captured the US/Canada jobs disappointments and the media reporting of the BoJ’s intention to resume tightening by year end.The largest w/w swings were observed in JPY and EUR, as both net longs increased. The CHF short widened modestly, and all of the remaining currencies saw there positions remain largely unchanged w/w.The EUR remains the largest net long, followed by JPY, with MXN a distant third. 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 Weekly Sentiment Report - JPY Sees Massive Speculative Swing On BoJ Tightening Report

Japan

The Japanese yen is the official currency of Japan. 

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Asia Cross Asset Podcast: Japan - The New LDP Leader: Implications for policy and markets

Ayako Takashi advocates for responsible expansionary fiscal policy focused on income distribution, leading to concerns about fiscal dominance and...

At Any Rate

Actinver Research - Mexican Peso Trading

The Bank for International Settlements’ (BIS) triennial survey highlights the continued expansion of global foreign exchange activity.

Actinver

CFTC Weekly Sentiment Report - JPY Net Long Sees Sizeable Build , Likely Driven By Hawkish BoJ

The aggregate USD short widened modestly in the week ended September 23, with a $0.8bn w/w build to $8.6bn. This was the third consecutive week of...

Scotiabank

CFTC Weekly Sentiment Report - Speculators Covered GBP Shorts Ahead Of BoE

Individual reporting currency swings offered some interesting w/w changes with notable short covering in GBP and AUD alongside a sizeable reduction...

Scotiabank

CFTC Weekly Sentiment Report - JPY Sees Massive Speculative Swing On BoJ Tightening Report

The aggregate USD short widened a notable $2.1bn in the week ended September 9, reaching $7.2bn in a reporting period that captured the US/Canada...

Scotiabank

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