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>Major currencies are narrowly mixed for the most part in quiet trade ahead of today’s US data releases.</li><li>The exception is the JPY which is reflecting a relatively decent (0.5%) gain on the USD following comments last night from BoJ Governor Takata.</li><li>He commented that the central bank’s price target was “finally coming into sight”, suggesting the BoJ may be closer to a rate hike. </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.

Major currencies are narrowly mixed for the most part in quiet trade ahead of today’s US data releases.The exception is the JPY which is reflecting a relatively decent (0.5%) gain on the USD following comments last night from BoJ Governor Takata.He commented that the central bank’s price target was “finally coming into sight”, suggesting the BoJ may be closer to a rate hike. 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 Ahead of PCE data, JPY Firmer

<ul><li>Non-commercial (speculative) sentiment favouring the USD moderated slightly in the past week’s data.</li><li>Speculative, aggregate net USD longs edged a little lower in the most recent week’s data to USD832mn, down just under USD600mn from the prior week’s report.</li><li>Additional data showed Real Money (institutional traders) paring aggregate USD shorts by around USD5bn in the week while Leveraged Accounts (hedge funds) cut limited aggregate exposure to the USD long side down from USD2.8bn in the prior week to an all but flat USD400mn. </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.

Non-commercial (speculative) sentiment favouring the USD moderated slightly in the past week’s data.Speculative, aggregate net USD longs edged a little lower in the most recent week’s data to USD832mn, down just under USD600mn from the prior week’s report.Additional data showed Real Money (institutional traders) paring aggregate USD shorts by around USD5bn in the week while Leveraged Accounts (hedge funds) cut limited aggregate exposure to the USD long side down from USD2.8bn in the prior week to an all but flat USD400mn. 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 - Bullish USD Sentiment Moderates

<ul><li>A mild bid for the USD generally yesterday developed a little more in overnight trade, largely reflecting weaker risk appetite as stocks in Asia and Europe (mostly) weakened.</li><li>US equity futures are in the red at writing while crude prices have slipped around 1% on the session as well.</li><li>Bonds are firmer, driving yields 1-2bps lower across the major markets. </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.

A mild bid for the USD generally yesterday developed a little more in overnight trade, largely reflecting weaker risk appetite as stocks in Asia and Europe (mostly) weakened.US equity futures are in the red at writing while crude prices have slipped around 1% on the session as well.Bonds are firmer, driving yields 1-2bps lower across the major markets. 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.

External broker reports(aggregated public sources), Nordea

Nordea

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. 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.

<ul><li>Rate cuts have been priced out fast during February.</li><li>Going into the March ECB meeting, less than four rate cuts are priced for 2024 and only one rate cut is priced by June.</li><li>We believe three rate cuts are as low as markets can go without significant changes to the macro picture given that the ECB is fixated on a June rate cut.</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.

Rate cuts have been priced out fast during February.Going into the March ECB meeting, less than four rate cuts are priced for 2024 and only one rate cut is priced by June.We believe three rate cuts are as low as markets can go without significant changes to the macro picture given that the ECB is fixated on a June rate cut.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.

EUR rates: Four 2024 rate cuts and counting

<ul>
<li>Non-commercial (speculative) sentiment favouring the USD moderated slightly in the past week’s data.</li>
<li>Speculative, aggregate net USD longs edged a little lower in the most recent week’s data to USD832mn, down just under USD600mn from the prior week’s report.</li>
<li>Additional data showed Real Money (institutional traders) paring aggregate USD shorts by around USD5bn in the week while Leveraged Accounts (hedge funds) cut limited aggregate exposure to the USD long side down from USD2.8bn in the prior week to an all but flat USD400mn. </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.


Non-commercial (speculative) sentiment favouring the USD moderated slightly in the past week’s data.
Speculative, aggregate net USD longs edged a little lower in the most recent week’s data to USD832mn, down just under USD600mn from the prior week’s report.
Additional data showed Real Money (institutional traders) paring aggregate USD shorts by around USD5bn in the week while Leveraged Accounts (hedge funds) cut limited aggregate exposure to the USD long side down from USD2.8bn in the prior week to an all but flat USD400mn. 

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.

United States

The US dollar is the official currency of the United States of America.

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USD (USD CURNCY)

FX Daily - USD Mixed Ahead of PCE data, JPY Firmer

He commented that the central bank’s price target was “finally coming into sight”, suggesting the BoJ may be closer to a rate hike.

Scotiabank

Weekly CFTC Sentiment Report - Bullish USD Sentiment Moderates

Waning speculative USD sentiment reflects trends in other indicators suggesting that the improvement in the broad USD tone since the start of the...

Scotiabank

FX Daily - USD Firmer on Soft Risk Mood

A mild bid for the USD generally yesterday developed a little more in overnight trade, largely reflecting weaker risk appetite as stocks in Asia...

Scotiabank

EUR rates: Four 2024 rate cuts and counting

We believe three rate cuts are as low as markets can go without significant changes to the macro picture given that the ECB is fixated on a June...

Nordea

Bullish USD Sentiment Moderates

Waning speculative USD sentiment reflects trends in other indicators suggesting that the improvement in the broad USD tone since the start of the...

Scotiabank

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