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.

FX & Rates

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

<ul>
<li>Federal Reserve and Bank of England both make decisions that are more dovish than expected</li>
<li>Market pricing reflects uncertainty and potential easing in the future</li>
<li>Central banks take steps to ensure smooth funding and liquidity in the markets, including adjustments to repo facilities and addressing debt ceiling issues.</li>
</ul>
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


Federal Reserve and Bank of England both make decisions that are more dovish than expected
Market pricing reflects uncertainty and potential easing in the future
Central banks take steps to ensure smooth funding and liquidity in the markets, including adjustments to repo facilities and addressing debt ceiling issues.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Rates: Hawkish cuts and dovish holds

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.

The Canadian dollar is the official currency of Canada. 

<ul><li>Our recently updated forecasts reflected a sharp U-turn in our views on the USD following the outcome of the US presidential election.</li><li>President-elect Trump’s plans to pursue deregulation, tax cuts and tariffs implied more upside potential in the US economy, higher for longer US rates and a strong for longer USD.</li><li>We adjusted our FX forecasts significantly in response and call for USDCAD reach 1.45 in H2 2025 and hold there through the end of the year. </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.

Our recently updated forecasts reflected a sharp U-turn in our views on the USD following the outcome of the US presidential election.President-elect Trump’s plans to pursue deregulation, tax cuts and tariffs implied more upside potential in the US economy, higher for longer US rates and a strong for longer USD.We adjusted our FX forecasts significantly in response and call for USDCAD reach 1.45 in H2 2025 and hold there through the end of the year. 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 - CAD Ruffled by Political Uncertainty

<ul><li>CFTC data for the week through December 10 reflects a small improvement in overall USD bullish sentiment.</li><li>Aggregate net Non-Commercial USD longs versus the major currencies we cover in this report rose USD1.5bn to USD24.3bn.</li><li>Additional data shows Real Money (institutional) traders cut their small net USD long from the prior week back to zero while Leveraged (hedge fund) traders boosted net USD longs by about USD2bn to USD10.5bn. </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.

CFTC data for the week through December 10 reflects a small improvement in overall USD bullish sentiment.Aggregate net Non-Commercial USD longs versus the major currencies we cover in this report rose USD1.5bn to USD24.3bn.Additional data shows Real Money (institutional) traders cut their small net USD long from the prior week back to zero while Leveraged (hedge fund) traders boosted net USD longs by about USD2bn to USD10.5bn. 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 Data - USD Bull Sentiment Strengthens

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. October 14th, 2024, to November 15th, 2024, the USD/CAD pair posted a clearly upward trajectory.</li><li>The period started with a slight decrease for the price, but after October 17th the currency faced a general appreciation, indicating a bullish momentum.</li><li>On November 4th, the pair experienced a downward correction and after that, it fluctuated sideways in a slight but steady upward movement.</li></ul>

During the period under consideration, i.e. October 14th, 2024, to November 15th, 2024, the USD/CAD pair posted a clearly upward trajectory.The period started with a slight decrease for the price, but after October 17th the currency faced a general appreciation, indicating a bullish momentum.On November 4th, the pair experienced a downward correction and after that, it fluctuated sideways in a slight but steady upward movement.

Comment on Exchange Rate USD/CAD - November 15, 2024

<ul><li>A larger-than-forecast rise in the Canadian unemployment rate to 6.8% in November, leaves the CAD trading defensively into the end of the week.</li><li>The US employment data largely met expectations, supporting the outlook for a 1/4-point cut from the Fed later this month but the odds of a 1/2-point move from the Bank of Canada next week have strengthened.</li><li>Swaps now indicate 44bps of anticipated easing Wednesday.</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 larger-than-forecast rise in the Canadian unemployment rate to 6.8% in November, leaves the CAD trading defensively into the end of the week.The US employment data largely met expectations, supporting the outlook for a 1/4-point cut from the Fed later this month but the odds of a 1/2-point move from the Bank of Canada next week have strengthened.Swaps now indicate 44bps of anticipated easing Wednesday.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.

CAD Weekly Outlook - CAD Prone to More Losses, Limited Scope for Rebounds

FX & Rates
FX & Rates Insights

Global Rates: Hawkish cuts and dovish holds

Overall, the BOE and Fed's monetary policy decisions, potential government shutdown, debt ceiling concerns, and Fed's balance sheet shifts are key...

At Any Rate

FX Snapshot - CAD Ruffled by Political Uncertainty

Our recently updated forecasts reflected a sharp U-turn in our views on the USD following the outcome of the US presidential election.

Scotiabank

Weekly CFTC Sentiment Data - USD Bull Sentiment Strengthens

Speculative traders moved in different directions on the major currencies. They boosted net JPY longs USD1.9bn and lifted net GBP longs by USD634mn.

Scotiabank

Comment on Exchange Rate USD/CAD - November 15, 2024

During the period under consideration, i.e. October 14th, 2024, to November 15th, 2024, the USD/CAD pair posted a clearly upward trajectory.

VRS (Valuation & Research Specialists)

CAD Weekly Outlook - CAD Prone to More Losses, Limited Scope for Rebounds

A larger-than-forecast rise in the Canadian unemployment rate to 6.8% in November, leaves the CAD trading defensively into the end of the week.

Scotiabank