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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.

Macroeconomics

<ul><li>Broader bearish USD sentiment has moderated somewhat, the latest positioning data from the CFTC shows.</li><li>Non-Commercial Accounts cut short USD positioning by a little over USD3.4bn in the week through Tuesday, taking the aggregate bear bet on the USD versus the major currencies back to USD15.8bn.</li><li>Data shows that Real Money Accounts trimmed their overall short USD position USD2.4bn to USD38.9bn over the week while Leveraged Accounts lifted their (modest) short USD position by USD2.5bn to USD4.8bn.</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.

Broader bearish USD sentiment has moderated somewhat, the latest positioning data from the CFTC shows.Non-Commercial Accounts cut short USD positioning by a little over USD3.4bn in the week through Tuesday, taking the aggregate bear bet on the USD versus the major currencies back to USD15.8bn.Data shows that Real Money Accounts trimmed their overall short USD position USD2.4bn to USD38.9bn over the week while Leveraged Accounts lifted their (modest) short USD position by USD2.5bn to USD4.8bn.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 - Bearish USD Sentiment Moderates

FX & Rates

<ul><li>Markets retain a cautious undertone after China reported weaker than expected loan data (new loans dropped to the lowest since 2009), underscoring growth concerns.</li><li>The CNY weakened to its lowest level in a month. Global stocks are trading lower while major bond markets (ex Treasurys are weaker).</li><li>The USD is holding relatively firm amid soft risk sentiment, near yesterday’s high in DXY terms, but gains are not universal, and the dollar index still appears to be encountering resistance in the mid/ upper 102 area after rebounding strongly from the intraday lows seen around the US CPI report yesterday. </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.

Markets retain a cautious undertone after China reported weaker than expected loan data (new loans dropped to the lowest since 2009), underscoring growth concerns.The CNY weakened to its lowest level in a month. Global stocks are trading lower while major bond markets (ex Treasurys are weaker).The USD is holding relatively firm amid soft risk sentiment, near yesterday’s high in DXY terms, but gains are not universal, and the dollar index still appears to be encountering resistance in the mid/ upper 102 area after rebounding strongly from the intraday lows seen around the US CPI report yesterday. 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 Amid Soft Risk Sentiment

<ul><li>The USD is trading mixed to slightly firmer as markets show signs of calming after the volatility seen earlier in the week. Stocks are trading higher in Europe and rose modestly in Asia; US equity futures are positive.</li><li>US 10Y yields are holding near the recent high at 4.20% but intraday trends are largely tracking other major bond markets.</li><li>Commodities are mixed to firmer (crude and iron ore). The NOK and AUD are moderate outperformers on the day (reflecting gains in relevant commodities noted above). </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 mixed to slightly firmer as markets show signs of calming after the volatility seen earlier in the week. Stocks are trading higher in Europe and rose modestly in Asia; US equity futures are positive.US 10Y yields are holding near the recent high at 4.20% but intraday trends are largely tracking other major bond markets.Commodities are mixed to firmer (crude and iron ore). The NOK and AUD are moderate outperformers on the day (reflecting gains in relevant commodities noted above). 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 remains firm after yesterday gains.</li><li>US Treasurys remain under pressure following the Fitch news and, perhaps more especially, the US Treasury refunding announcement which highlighted a significant increase in supply over the coming year —even though this would not have been a surprise for the Treasury market.</li><li>Weak Treasurys are weighing on global yields and extending pressure on stocks.</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 remains firm after yesterday gains.US Treasurys remain under pressure following the Fitch news and, perhaps more especially, the US Treasury refunding announcement which highlighted a significant increase in supply over the coming year —even though this would not have been a surprise for the Treasury market.Weak Treasurys are weighing on global yields and extending pressure on stocks.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 Supported by Rising Yields

<ul>
<li>Market Update —The USD is trading firmer overall.</li>
<li>Softer equity markets are casting a broadly risk -averse look to FX markets, although bonds have not benefitted from any flight to quality.</li>
<li>Softer than expected Chinese data is weighing on 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.


Market Update —The USD is trading firmer overall.
Softer equity markets are casting a broadly risk -averse look to FX markets, although bonds have not benefitted from any flight to quality.
Softer than expected Chinese data is weighing on 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.

Mexico

The Mexican peso is the official currency of Mexico. 

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MXN (USDMXN CURNCY)

Weekly CFTC Sentiment Report - Bearish USD Sentiment Moderates

Non-Commercial Accounts cut short USD positioning by a little over USD3.4bn in the week through Tuesday, taking the aggregate bear bet on the USD

Scotiabank

FX Daily - USD Mixed Amid Soft Risk Sentiment

Markets retain a cautious undertone after China reported weaker than expected loan data (new loans dropped to the lowest since 2009), underscoring...

Scotiabank

FX Daily - USD Mixed Ahead of Jobs Data

Commodities are mixed to firmer (crude and iron ore). The NOK and AUD are moderate outperformers on the day (reflecting gains in relevant...

Scotiabank

FX Daily - USD Supported by Rising Yields

FX Market Update —The USD remains firm after yesterday gains. US Treasurys remain under pressure following the Fitch news and, perhaps more...

Scotiabank

FX Daily - Risk Off Mood Lifts USD

Market Update —The USD is trading firmer overall. Softer equity markets are casting a broadly risk -averse look to FX markets, although bonds have...

Scotiabank

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