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>How quickly things change. At the start of the year, we upgraded our forecasts for the US dollar (USD) in the aftermath of the US presidential election.</li><li>President Trump’s win and Republican sweep of Congress implied a bullish outlook for the USD to us, given expectations that tax cuts and deregulation would drive US growth and support an extension of “US exceptionalism” that had been the backbone of USD strength and US capital market outperformance in recent years.</li><li>Few people learned the lesson of the first Trump term when similar expectations supported a bullish outlook for the USD at the start of the president’s mandate, only for the USD to fall sharply (in 2017). </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>

How quickly things change. At the start of the year, we upgraded our forecasts for the US dollar (USD) in the aftermath of the US presidential election.President Trump’s win and Republican sweep of Congress implied a bullish outlook for the USD to us, given expectations that tax cuts and deregulation would drive US growth and support an extension of “US exceptionalism” that had been the backbone of USD strength and US capital market outperformance in recent years.Few people learned the lesson of the first Trump term when similar expectations supported a bullish outlook for the USD at the start of the president’s mandate, only for the USD to fall sharply (in 2017). 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.

USD

Foreign Exchange Outlook - April 2025