External broker reports(aggregated public sources), Scotiabank

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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.

FX & Rates

<ul><li>Back in January, I thought the stars were aligning for a recovery in the USD (January 16th Snapshot).</li><li>A rebound in US yields, USD-positive seasonality in Q1 plus bullish technical signals suggested the DXY could rally to 104+ while USDCAD might rebound to 1.35/1.36.</li><li>So far, so good. But what now? US data reports suggest the US economy is slowing but continues to move along quite well, pushing back the prospect of a spring rate cut by the Fed to mid-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.

Back in January, I thought the stars were aligning for a recovery in the USD (January 16th Snapshot).A rebound in US yields, USD-positive seasonality in Q1 plus bullish technical signals suggested the DXY could rally to 104+ while USDCAD might rebound to 1.35/1.36.So far, so good. But what now? US data reports suggest the US economy is slowing but continues to move along quite well, pushing back the prospect of a spring rate cut by the Fed to mid-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 - USD Stretches Yield-Based Valuation

<ul><li>The USD is losing ground as North American markets return from the long weekend.</li><li>Trading was quiet Monday, with investors eyeing earnings reports (from tech behemoths) and event risk (Fed speakers, FOMC minutes) due later this week.</li><li>But the USD started to lose ground in early European trade and while movement is relatively limited, losses do looks do look noteworthy and suggest pressure may be building on the USD again. </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.

The USD is losing ground as North American markets return from the long weekend.Trading was quiet Monday, with investors eyeing earnings reports (from tech behemoths) and event risk (Fed speakers, FOMC minutes) due later this week.But the USD started to lose ground in early European trade and while movement is relatively limited, losses do looks do look noteworthy and suggest pressure may be building on the USD again. 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.

<ul><li>The USD is trading a bit more mixed as the dust settles after yesterday’s US CPI shocker.</li><li>Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently, supporting broad USD gains.</li><li>Markets generally have steadied this morning; bond yields have retreated somewhat, with Gilts outperforming strongly after UK price data came in weaker than expected, while stocks are trading mostly higher. </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.

The USD is trading a bit more mixed as the dust settles after yesterday’s US CPI shocker.Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently, supporting broad USD gains.Markets generally have steadied this morning; bond yields have retreated somewhat, with Gilts outperforming strongly after UK price data came in weaker than expected, while stocks are trading mostly higher. 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 Daily - USD Mixed After CPI-Driven Jump

<ul><li>It’s a rather tentative start to the week for markets overall. After fresh highs for the S&amp;P 500 last week, European stocks are advancing modestly (Japan and China were closed today) while bonds are mostly firmer; US 10Y yields are down 1- 2bps while European debt has shed 4-6bps across the major markets.</li><li>The USD itself is mixed; the NOK and SEK are slight outperformers on the session, with the MXN also picking up some support.</li><li>The NZD is at the foot of the intraday performance table, giving up some of the gains made late last week on speculation that the RBNZ would tighten rates a bit more in the coming weeks. </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.

It’s a rather tentative start to the week for markets overall. After fresh highs for the S&amp;P 500 last week, European stocks are advancing modestly (Japan and China were closed today) while bonds are mostly firmer; US 10Y yields are down 1- 2bps while European debt has shed 4-6bps across the major markets.The USD itself is mixed; the NOK and SEK are slight outperformers on the session, with the MXN also picking up some support.The NZD is at the foot of the intraday performance table, giving up some of the gains made late last week on speculation that the RBNZ would tighten rates a bit more in the coming weeks. 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 Daily - Flat USD Looks to CPI for Direction

<ul><li>The USD is tracking a little lower overall on the session so far though trends across the major currencies are mixed and there is no obvious theme driving markets this morning.</li><li>The GBP is a moderate outperformer on the session, with firmer housing data and BoE comments giving it a small lift.</li><li>The CHF is the prime underperformer among the majors, with investors turning more negative on the franc’s overall outlook. Stocks are softer in Europe after a mixed performance in Asia.</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.

The USD is tracking a little lower overall on the session so far though trends across the major currencies are mixed and there is no obvious theme driving markets this morning.The GBP is a moderate outperformer on the session, with firmer housing data and BoE comments giving it a small lift.The CHF is the prime underperformer among the majors, with investors turning more negative on the franc’s overall outlook. Stocks are softer in Europe after a mixed performance in Asia.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 Daily - USD Drifts as Gains Overstate Move in Yields

Canada

The Canadian dollar is the official currency of Canada. 

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CAD (USDCAD CURNCY)

FX Snapshot - USD Stretches Yield-Based Valuation

A rebound in US yields, USD-positive seasonality in Q1 plus bullish technical signals suggested the DXY could rally to 104+ while USDCAD might...

Scotiabank

FX Daily - USD Softer as Yields Retreat

Trading was quiet Monday, with investors eyeing earnings reports (from tech behemoths) and event risk (Fed speakers, FOMC minutes) due later this...

Scotiabank

FX Daily - USD Mixed After CPI-Driven Jump

Higher than expected prices drove US yields sharply higher, with the 10Y trading well through the 4.20% area that has capped yields recently,...

Scotiabank

FX Daily - Flat USD Looks to CPI for Direction

The USD itself is mixed; the NOK and SEK are slight outperformers on the session, with the MXN also picking up some support.

Scotiabank

FX Daily - USD Drifts as Gains Overstate Move in Yields

USD mixed versus majors, may struggle to extend gains without new impulse; CAD little changed; Macklem reinforces caution on rate outlook.

Scotiabank

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