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>This week’s CFTC data show virtually no overall change in market positioning in the week through Tuesday, with investors likely sidelined ahead of the FOMC decision the following day.</li><li>Aggregated positioning across the major currencies we follow here shows NonCommercial (speculative) traders cutting net USD longs by a bare USD24mn, leaving the aggregate position at a little over USD9bn.</li><li>Positioning trends across most major currencies are veering towards neutral. </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.

This week’s CFTC data show virtually no overall change in market positioning in the week through Tuesday, with investors likely sidelined ahead of the FOMC decision the following day.Aggregated positioning across the major currencies we follow here shows NonCommercial (speculative) traders cutting net USD longs by a bare USD24mn, leaving the aggregate position at a little over USD9bn.Positioning trends across most major currencies are veering towards neutral. 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 - Little Change in USD Positioning

<ul><li>The USD is mixed to weaker as equity markets push higher and US yields tumble.</li><li>The glaring exception is the JPY which is down more than 1% on the day following the BoJ policy decision earlier.</li><li>Markets are disappointed that the BoJ made only a modest change to its policy stance, announcing that it would take a more flexible approach to its YCC objective and would treat the 1% level for 10Y yields as a “reference point ” from now on.</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 mixed to weaker as equity markets push higher and US yields tumble.The glaring exception is the JPY which is down more than 1% on the day following the BoJ policy decision earlier.Markets are disappointed that the BoJ made only a modest change to its policy stance, announcing that it would take a more flexible approach to its YCC objective and would treat the 1% level for 10Y yields as a “reference point ” from now on.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 Snapshot - Untangling USD Drivers into Year-End

<ul>
<li>The USD is firm against most of the majors as investor attention turns to the Fed.</li>
<li>The FOMC decision is expected to be a straightforward one —no change in policy and a statement (14ET) that largely reflects recent comments from senior Fed officials that they are in position to “proceed carefully ” on monetary policy for now.</li>
<li>That effectively means an extended hold, with more tightening not ruled out. Chairman Powell’s press conference starts around 14.30ET.</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 firm against most of the majors as investor attention turns to the Fed.
The FOMC decision is expected to be a straightforward one —no change in policy and a statement (14ET) that largely reflects recent comments from senior Fed officials that they are in position to “proceed carefully ” on monetary policy for now.
That effectively means an extended hold, with more tightening not ruled out. Chairman Powell’s press conference starts around 14.30ET.

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 Firm Ahead of the FOMC, JPY Outperforms

<ul><li>The USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US jobs data on Friday.</li><li>A widening ground offensive in Gaza has not unsettled markets to any obvious extent; crude prices have slipped back from Friday’s advance and stocks are generally firmer.</li><li>Bonds are mixed; European yields are slightly lower while Treasury yields are a firmer but holding within Friday’s range. </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 mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US jobs data on Friday.A widening ground offensive in Gaza has not unsettled markets to any obvious extent; crude prices have slipped back from Friday’s advance and stocks are generally firmer.Bonds are mixed; European yields are slightly lower while Treasury yields are a firmer but holding within Friday’s range. 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 trading firmly, but a little off its best levels, ahead of this morning’s data releases.</li><li>Stocks are soft on weak earnings data while a brief incursion into Gaza by the Israeli army overnight added to market anxiety.</li><li>Bonds are little changed, however, and crude oil has drifted a bit while G-10 commodity FX is outperforming, if only very modestly, so the risk off narrative does not fully explain intraday developments on the face of it.</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 firmly, but a little off its best levels, ahead of this morning’s data releases.Stocks are soft on weak earnings data while a brief incursion into Gaza by the Israeli army overnight added to market anxiety.Bonds are little changed, however, and crude oil has drifted a bit while G-10 commodity FX is outperforming, if only very modestly, so the risk off narrative does not fully explain intraday developments on the face of it.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)

Weekly CFTC Sentiment Report - Little Change in USD Positioning

This week’s CFTC data show virtually no overall change in market positioning in the week through Tuesday, with investors likely sidelined ahead of...

Scotiabank

FX Snapshot - Untangling USD Drivers into Year-End

The USD is mixed to weaker as equity markets push higher and US yields tumble. The glaring exception is the JPY which is down more than 1% on the...

Scotiabank

FX Daily - USD Firm Ahead of the FOMC, JPY Outperforms

The USD is firm against most of the majors as investor attention turns to the Fed. The FOMC decision is expected to be a straightforward one —no...

Scotiabank

FX Daily - USD Drifts on Market Calm

The USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US...

Scotiabank

FX Daily - USD Firm Ahead of GDP Data

tocks are soft on weak earnings data while a brief incursion into Gaza by the Israeli army overnight added to market anxiety.

Scotiabank

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