External broker reports(aggregated public sources), Scotiabank

Scotiabank

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.

External broker reports(aggregated public sources)

FX & Rates

<ul><li>The aggregate USD short position narrowed a marginal $1.1bn in the week ended July 15, moderating to $17.5bn.</li><li>The position is sizeable however it has remained largely unchanged over the past few months, holding close to the bearish end of its range since 2023 but well shy of the extended levels reached in 2020/2021.</li><li>The largest w/w adjustments were observed in EUR and JPY, maintaining recent trends and delivering a continued build in the bullish EUR position alongside an extension of the softening JPY long.</li></ul><p><em>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.</em></p>

The aggregate USD short position narrowed a marginal $1.1bn in the week ended July 15, moderating to $17.5bn.The position is sizeable however it has remained largely unchanged over the past few months, holding close to the bearish end of its range since 2023 but well shy of the extended levels reached in 2020/2021.The largest w/w adjustments were observed in EUR and JPY, maintaining recent trends and delivering a continued build in the bullish EUR position alongside an extension of the softening JPY long.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.

Bullish EUR Position Extends Climb As JPY Long Continues To Fall

EURO/US DOLLAR

Bullish EUR Position Extends Climb As JPY Long Continues To Fall