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.

FX & Rates

<ul><li>The headline changes in USD positioning is the latest week’s Commitments of Traders Report are relatively limited.</li><li>Aggregate Non-Commercial (speculative) net USD longs are little changed after the prior week’s significant advance, falling USD291mn in the week to USD8.48bn.</li><li>This is still close to the most bullish positioning on the USD in a little under a 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.

The headline changes in USD positioning is the latest week’s Commitments of Traders Report are relatively limited.Aggregate Non-Commercial (speculative) net USD longs are little changed after the prior week’s significant advance, falling USD291mn in the week to USD8.48bn.This is still close to the most bullish positioning on the USD in a little under a 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.

Weekly CFTC Sentiment Report - USD Bullish Sentiment Consolidates

<ul><li>The CAD is heading for a fourth, consecutive lower weekly close on the USD, although the USD may end today well below its high point of the week reached on Tuesday.</li><li>It’s summertime, and markets are thin which may help explain the CAD’s recent disappointing performance.</li><li>Local USD sellers have emerged to take advantage of this week’s USD’s advance this week and place hedges. </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 CAD is heading for a fourth, consecutive lower weekly close on the USD, although the USD may end today well below its high point of the week reached on Tuesday.It’s summertime, and markets are thin which may help explain the CAD’s recent disappointing performance.Local USD sellers have emerged to take advantage of this week’s USD’s advance this week and place hedges. 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 Stretches Undervaluation

<ul><li>FX Market Update—The USD is trading mixed to firmer on the day to extend the DXY’s rebound back through the low 101 area where I had expected better resistance to corrections to emerge.</li><li>A weaker EUR is helping support the broader tone of what looks a more mixed USD on the session.</li><li>Among the majors, the NZD, MXN and JPY are strengthening whereas the EUR finds itself near the foot of the overnight performance league. </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.

FX Market Update—The USD is trading mixed to firmer on the day to extend the DXY’s rebound back through the low 101 area where I had expected better resistance to corrections to emerge.A weaker EUR is helping support the broader tone of what looks a more mixed USD on the session.Among the majors, the NZD, MXN and JPY are strengthening whereas the EUR finds itself near the foot of the overnight performance league. 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 as EUR Slides on Weak PMIs

<ul>
<li>The CAD has outperformed most of its major currency peers this week but that is reflecting its tendency to trade more or less in line with the broader USD tone at the moment.</li>
<li>USDCAD is little changed on the week overall, with the CAD pacing USD gains on the major crosses.</li>
<li>The data run in Canada this week reflected softer than expected June CPI and May Retail Sales activity; early estimates for June Retail Sales were flat. </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 CAD has outperformed most of its major currency peers this week but that is reflecting its tendency to trade more or less in line with the broader USD tone at the moment.
USDCAD is little changed on the week overall, with the CAD pacing USD gains on the major crosses.
The data run in Canada this week reflected softer than expected June CPI and May Retail Sales activity; early estimates for June Retail Sales were flat. 

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 Slips into Range versus USD

<ul>
<li>CFTC data for the week through July 18th reflect a significant deterioration in USD sentiment.</li>
<li>Speculative Accounts’ overall positioning against the USD versus the major currencies reflected an aggregate short position of USD 19.9bn in the latest week.</li>
<li>The week-over-week increase in aggregate USD shorts of USD7.4bn was the largest single week positioning shift against the USD since 2020. </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 July 18th reflect a significant deterioration in USD sentiment.
Speculative Accounts’ overall positioning against the USD versus the major currencies reflected an aggregate short position of USD 19.9bn in the latest week.
The week-over-week increase in aggregate USD shorts of USD7.4bn was the largest single week positioning shift against the USD since 2020. 

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.

Global FX Strategy - USD Sentiment Deteriorates Sharply

Canada

The Canadian dollar is the official currency of Canada. 

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CAD (USDCAD CURNCY)

Weekly CFTC Sentiment Report - USD Bullish Sentiment Consolidates

Aggregate Non-Commercial (speculative) net USD longs are little changed after the prior week’s significant advance, falling USD291mn in the week to...

Scotiabank

CAD Weekly Outlook - CAD Stretches Undervaluation

The CAD is heading for a fourth, consecutive lower weekly close on the USD, although the USD may end today well below its high point of the week...

Scotiabank

FX Daily - USD Mixed as EUR Slides on Weak PMIs

FX Market Update—The USD is trading mixed to firmer on the day to extend the DXY’s rebound back through the low 101 area where I had expected...

Scotiabank

CAD Weekly Outlook - CAD Slips into Range versus USD

The CAD has outperformed most of its major currency peers this week but that is reflecting its tendency to trade more or less in line with the...

Scotiabank

Global FX Strategy - USD Sentiment Deteriorates Sharply

Speculative Accounts’ overall positioning against the USD versus the major currencies reflected an aggregate short position of USD 19.9bn in the...

Scotiabank

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