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>EURUSD is showing its first signs of meaningful strength following its recent pullback from the July 1 high, and the near-term balance of risk favors renewed gains and a resumption of the multi-month bull trend.</li><li>All eyes are on Thursday’s ECB, where policymakers are widely expected to deliver a hold, with risk centered on the central bank’s communication (statement, press conference, but no forecast) given that policymakers’ speeches have recently struck a more neutral tone—in contrast to the market’s pricing of at least one more 25bpt cut by year-end.</li><li>The last ECB meeting, on June 5, delivered a 25bpt rate cut in an environment of elevated trade policy uncertainty that limited the central bank’s ability to offer any kind of confidence in their outlook for rates.</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>

EURUSD is showing its first signs of meaningful strength following its recent pullback from the July 1 high, and the near-term balance of risk favors renewed gains and a resumption of the multi-month bull trend.All eyes are on Thursday’s ECB, where policymakers are widely expected to deliver a hold, with risk centered on the central bank’s communication (statement, press conference, but no forecast) given that policymakers’ speeches have recently struck a more neutral tone—in contrast to the market’s pricing of at least one more 25bpt cut by year-end.The last ECB meeting, on June 5, delivered a 25bpt rate cut in an environment of elevated trade policy uncertainty that limited the central bank’s ability to offer any kind of confidence in their outlook for rates.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 Snapshot - Upside EUR Risk Into Thursday’s ECB

EURO/US DOLLAR

FX Snapshot - Upside EUR Risk Into Thursday’s ECB