External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

External broker reports(aggregated public sources)

ABN AMRO is a personal bank in the digital age. A bank committed to playing a serious role in society. This digital age helps us to bring banking ever closer to our clients and what they need. Our areas of focus are inclusion, sustainability, social entrepreneurship, innovation, daily banking and more. 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.

Macroeconomics

<ul><li>European TTF prices have been heading upwards due to adverse weather conditions, supply disruptions from Russia, unclarity about the future of transit agreement through Ukraine, and escalations in the Ukrainian war.</li><li>Storage withdrawal rate has been higher than average, inducing high uncertainty and strong volatility.</li><li>Heating purposes are the leading demand driver for the fuel as demand from industrial recovery shifts towards 2025</li></ul><div data-v-a32cbb07=""><div data-component-type="rich-text"></div></div><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>

European TTF prices have been heading upwards due to adverse weather conditions, supply disruptions from Russia, unclarity about the future of transit agreement through Ukraine, and escalations in the Ukrainian war.Storage withdrawal rate has been higher than average, inducing high uncertainty and strong volatility.Heating purposes are the leading demand driver for the fuel as demand from industrial recovery shifts towards 2025Content 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.

Gas Market Monitor - Market remains watchful for supply uncertainty

External broker reports(aggregated public sources), Nordea

Nordea

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. 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.

<ul><li>The risk levels remain low in the EM Traffic Light for November, but geopolitical risks loom in the background – war in Middle East and Ukraine.</li><li>Of the 34 EM currencies in the survey, 31 are labelled low risk section (green) in November.</li><li>Peru has left the yellow risk section but have been substituted by Malaysia.The global economy has turned out better than feared at the beginning of the year.</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 risk levels remain low in the EM Traffic Light for November, but geopolitical risks loom in the background – war in Middle East and Ukraine.Of the 34 EM currencies in the survey, 31 are labelled low risk section (green) in November.Peru has left the yellow risk section but have been substituted by Malaysia.The global economy has turned out better than feared at the beginning 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.

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 U.S. Dollar Index(USDX) indicates the general int'l value of the USD. The USDX does this by averaging the exchange rates between the USD and  major world currencies.  The ICE US computes this by using the rates supplied by some 500 banks. FOR REAL TIME SEE EIS ICEA<GO>. 

<ul><li>DXY strength through 1Q25 predicted with positive volatility</li><li>Dollar correlations expected to remain firm, with potential pockets of soft cross correlations</li><li>Systematic FX adoptions models highlight opportunities in FX carry via options, short volume strategy, volume reversal model, and volcurve model for 2025</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

DXY strength through 1Q25 predicted with positive volatilityDollar correlations expected to remain firm, with potential pockets of soft cross correlationsSystematic FX adoptions models highlight opportunities in FX carry via options, short volume strategy, volume reversal model, and volcurve model for 2025This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Political Analyst, Heteronomics

Alastair Newton

Political Analyst

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

<ul><li>Donald Trump's approach to fulfilling his commitment to end the Russia/Ukraine war is crucial.</li><li>This approach could directly affect the escalating tensions on the Korean peninsula.</li><li>It could also impact the situation in the Taiwan Strait.</li></ul>

Donald Trump's approach to fulfilling his commitment to end the Russia/Ukraine war is crucial.This approach could directly affect the escalating tensions on the Korean peninsula.It could also impact the situation in the Taiwan Strait.

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul>
<li>For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.</li>
<li>US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.</li>
<li>TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.</li>
</ul>


For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.
US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.
TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.


[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

Military Escalation in Ukraine
Insights on the Russia-Ukraine Crisis

Gas Market Monitor - Market remains watchful for supply uncertainty

European TTF prices have been heading upwards due to adverse weather conditions, supply disruptions from Russia, unclarity about the future of...

ABN AMRO

EM Traffic Light November 2024

The risk levels remain low in the EM Traffic Light for November, but geopolitical risks loom in the background – war in Middle East and Ukraine.

Nordea

Global FX Volatility Outlook 2025

The prediction for Dollar (DXY) strength through 1Q25 and positive volatility is influenced by factors such as President Trump's policies, the...

At Any Rate

The US And The ‘Axis of Upheaval’

Donald Trump's approach to fulfilling his commitment to end the Russia/Ukraine war is crucial. This approach could directly affect the escalating...

Alastair Newton

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

Gas Market Monitor - Market remains watchful for supply uncertainty

European TTF prices have been heading upwards due to adverse weather conditions, supply disruptions from Russia, unclarity about the future of...

ABN AMRO

EM Traffic Light November 2024

The risk levels remain low in the EM Traffic Light for November, but geopolitical risks loom in the background – war in Middle East and Ukraine.

Nordea

Global FX Volatility Outlook 2025

The prediction for Dollar (DXY) strength through 1Q25 and positive volatility is influenced by factors such as President Trump's policies, the...

At Any Rate

The US And The ‘Axis of Upheaval’

Donald Trump's approach to fulfilling his commitment to end the Russia/Ukraine war is crucial. This approach could directly affect the escalating...

Alastair Newton

[ETP 2024/47] WTI Rises on Ukraine-Russia Tensions; Henry Hub Jumps on Cold Weather Forecasts

​US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...

Mint Finance

US crude and gasoline inventories increased more than expected. Exxon's PT increased while Halliburton's was lowered. Aramco and Sinopec started...