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 USD is trading a bit more mixed as the dust settles after yesterday’s US CPI shocker.</li><li>Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently, supporting broad USD gains.</li><li>Markets generally have steadied this morning; bond yields have retreated somewhat, with Gilts outperforming strongly after UK price data came in weaker than expected, while stocks are trading mostly higher. </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 a bit more mixed as the dust settles after yesterday’s US CPI shocker.Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently, supporting broad USD gains.Markets generally have steadied this morning; bond yields have retreated somewhat, with Gilts outperforming strongly after UK price data came in weaker than expected, while stocks are trading mostly higher. 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 After CPI-Driven Jump

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

<ul>
<li>During the period under consideration, i.e. December 28th , 2023 to January 26th, 2024, the USD/AED exchange rate fluctuated between 3.672 and 3.673. AED is pegged to the US Dollar at 3.67.</li>
<li>The MA-10 line was moving above the MA-20 line for the whole period. Both MA 10 and MA-20 lines maintained a steady upward trend throughout the entire period.</li>
<li>Based on Graph 2, the PPO (red line) was moving upwards at the beginning of the period under consideration but after January 15th the movement changed. </li>
</ul>


During the period under consideration, i.e. December 28th , 2023 to January 26th, 2024, the USD/AED exchange rate fluctuated between 3.672 and 3.673. AED is pegged to the US Dollar at 3.67.
The MA-10 line was moving above the MA-20 line for the whole period. Both MA 10 and MA-20 lines maintained a steady upward trend throughout the entire period.
Based on Graph 2, the PPO (red line) was moving upwards at the beginning of the period under consideration but after January 15th the movement changed. 


Comment on Exchange Rate - USD/AED January 26, 2024

<ul><li>It’s a rather tentative start to the week for markets overall. After fresh highs for the S&amp;P 500 last week, European stocks are advancing modestly (Japan and China were closed today) while bonds are mostly firmer; US 10Y yields are down 1- 2bps while European debt has shed 4-6bps across the major markets.</li><li>The USD itself is mixed; the NOK and SEK are slight outperformers on the session, with the MXN also picking up some support.</li><li>The NZD is at the foot of the intraday performance table, giving up some of the gains made late last week on speculation that the RBNZ would tighten rates a bit more in the coming weeks. </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.

It’s a rather tentative start to the week for markets overall. After fresh highs for the S&amp;P 500 last week, European stocks are advancing modestly (Japan and China were closed today) while bonds are mostly firmer; US 10Y yields are down 1- 2bps while European debt has shed 4-6bps across the major markets.The USD itself is mixed; the NOK and SEK are slight outperformers on the session, with the MXN also picking up some support.The NZD is at the foot of the intraday performance table, giving up some of the gains made late last week on speculation that the RBNZ would tighten rates a bit more in the coming weeks. 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 - Flat USD Looks to CPI for Direction

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.

<ul>
<li>The increase in news articles mentioning tariff and trade war risks is making it difficult for cyclical currencies like the euro to factor in any potential growth outside of the US.</li>
<li>US exceptionalism is evident in strong services ISM and relative equity performance, which is leading to the dollar's dominance in capital flows.</li>
<li>The Chinese yuan is facing bearish sentiment due to double-digit drawdowns in onshore equity indices, deepening deflation, weak sentiment in the housing market, and limited policy options for policymakers. Outbound travel restrictions during the Chinese New Year season also add to the pressure on the currency. However, there have been some positive signs in financial flows, such as stabilization in equity flows and increased bond purchases by foreigners. Overall, the outlook for the yuan remains bearish.</li>
</ul>
This podcast is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.


The increase in news articles mentioning tariff and trade war risks is making it difficult for cyclical currencies like the euro to factor in any potential growth outside of the US.
US exceptionalism is evident in strong services ISM and relative equity performance, which is leading to the dollar's dominance in capital flows.
The Chinese yuan is facing bearish sentiment due to double-digit drawdowns in onshore equity indices, deepening deflation, weak sentiment in the housing market, and limited policy options for policymakers. Outbound travel restrictions during the Chinese New Year season also add to the pressure on the currency. However, there have been some positive signs in financial flows, such as stabilization in equity flows and increased bond purchases by foreigners. Overall, the outlook for the yuan remains bearish.

This podcast is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Global FX: Tariff Risks and US Exceptionalism Support the Dollar

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>Let me start by dwelling on the fact that Macro generalists such as myself and Thorsten Slok of Apollo suddenly spend countless hours watching Copper trends.</li><li>It is probably a red flag in itself, but it just seems like these developments are so INCREDIBLY important for global macro- and geopolitics these months.</li><li>We have been all over the Chinese copper story in recent months and also traded it with good luck, but we have admittedly been wrong in our call for a weaker CNY (so far).</li></ul>

Let me start by dwelling on the fact that Macro generalists such as myself and Thorsten Slok of Apollo suddenly spend countless hours watching Copper trends.It is probably a red flag in itself, but it just seems like these developments are so INCREDIBLY important for global macro- and geopolitics these months.We have been all over the Chinese copper story in recent months and also traded it with good luck, but we have admittedly been wrong in our call for a weaker CNY (so far).

Steno Signals #100 – China’s MAJOR power grab on Copper supply chains

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 After CPI-Driven Jump

Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently,...

Scotiabank

Comment on Exchange Rate - USD/AED January 26, 2024

During the period under consideration, i.e. December 28th , 2023 to January 26th, 2024, the USD/AED exchange rate fluctuated between 3.672 and...

VRS (Valuation & Research Specialists)

FX Daily - Flat USD Looks to CPI for Direction

The USD itself is mixed; the NOK and SEK are slight outperformers on the session, with the MXN also picking up some support.

Scotiabank

Global FX: Tariff Risks and US Exceptionalism Support the Dollar

US exceptionalism is evident in strong services ISM and relative equity performance, which is leading to the dollar's dominance in capital flows.

At Any Rate

Steno Signals #100 – China’s MAJOR power grab on Copper supply chains

Happy Sunday from sunny Greece and welcome to a very special jubilee edition of Steno Signals. Let me start by dwelling on the fact that Macro...

Steno Research

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