External broker reports(aggregated public sources), Nordea

Nordea

External broker reports(aggregated public sources)

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.

Macroeconomics

<ul>
<li>Even if the year is still young, 2024 has started with a pushback against lower rates.</li>
<li>Arguments to wait for better levels to enter outright receivers battle with the FOMO (Fear Of Missing Out) on the next big rally. Three trades to start the year.</li>
<li>In our views on EUR swaps in 2024, we wrote that rates could see a pushback in Q1 before resuming the downtrend for the remainder 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.


Even if the year is still young, 2024 has started with a pushback against lower rates.
Arguments to wait for better levels to enter outright receivers battle with the FOMO (Fear Of Missing Out) on the next big rally. Three trades to start the year.
In our views on EUR swaps in 2024, we wrote that rates could see a pushback in Q1 before resuming the downtrend for the remainder 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.

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.

FX & Rates

<ul><li>FX Market Update—Broad USD losses yesterday were curbed a little above Friday’s intraday low made around the release of the NFP, leaving the DXY still effectively in consolidation mode after its New Year gains.</li><li>Trading impulses look relatively limited this morning, suggesting more range trading for the majors as markets continue to focus on Thursday’s US CPI release as the next major catalyst. Stocks are broadly lower, a plus for the USD.</li><li>Bonds are mostly weaker but Treasurys are out-performing, leaving spreads moving marginally against the USD along the curve. </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—Broad USD losses yesterday were curbed a little above Friday’s intraday low made around the release of the NFP, leaving the DXY still effectively in consolidation mode after its New Year gains.Trading impulses look relatively limited this morning, suggesting more range trading for the majors as markets continue to focus on Thursday’s US CPI release as the next major catalyst. Stocks are broadly lower, a plus for the USD.Bonds are mostly weaker but Treasurys are out-performing, leaving spreads moving marginally against the USD along the curve. 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>Wednesday 10 January the Danish central bank will be offering DGB 1.75 2025 and DGB 2.25 2033.</li><li>We find DGB 1.75 2025 attractive and recommend hedging in EUR swap.</li><li>Moreover, we give a status on the issuance picture for 2024.</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.

Wednesday 10 January the Danish central bank will be offering DGB 1.75 2025 and DGB 2.25 2033.We find DGB 1.75 2025 attractive and recommend hedging in EUR swap.Moreover, we give a status on the issuance picture for 2024.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.

External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. 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.

Cross Asset Strategy

<ul><li>Pak Rupee (PKR) has been under pressure since last 7-Years. In 2023 PKR fell 20% against US$ in spite of some recovery in last few months.</li><li>This 20% fall in 2023 is higher than last 5-Year average fall of 13% a year and 10-Year average of 8%.</li><li>External financing gap, challenging global financial markets, and local political instability has badly affected foreign exchange (FX) reserves and build pressure on PKR.</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.

Pak Rupee (PKR) has been under pressure since last 7-Years. In 2023 PKR fell 20% against US$ in spite of some recovery in last few months.This 20% fall in 2023 is higher than last 5-Year average fall of 13% a year and 10-Year average of 8%.External financing gap, challenging global financial markets, and local political instability has badly affected foreign exchange (FX) reserves and build pressure on PKR.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.

Pakistan Economy - PKR Down 20% Against US$ in 2023; Average Inflation of 31% but Likely to Fall

<ul><li>The USD is trading a little lower on the session. The USD’s New Year rally has stalled, with the EUR gaining a little ground over the course of the European morning session on supportive data.</li><li>The JPY is underperforming amid speculation that the Ishikawa earthquake will leave the BoJ reluctant to adjust monetary policy in the near term, however.</li><li>Broader USD losses are perhaps no more than a pause in the recent rebound which still has room to play out, in my opinion. </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 little lower on the session. The USD’s New Year rally has stalled, with the EUR gaining a little ground over the course of the European morning session on supportive data.The JPY is underperforming amid speculation that the Ishikawa earthquake will leave the BoJ reluctant to adjust monetary policy in the near term, however.Broader USD losses are perhaps no more than a pause in the recent rebound which still has room to play out, in my opinion. 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 Edges Lower but Finds Support on Dips

United States

The euro is the official currency of the European Economic & Monetary Union.  The US dollar is the official currency of the United States of America.

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EUR Rates: FOMO

Arguments to wait for better levels to enter outright receivers battle with the FOMO (Fear Of Missing Out) on the next big rally. Three trades to...

Nordea

FX Daily - USD Rebounds but Holds Range

Broad USD losses yesterday were curbed a little above Friday’s intraday low made around the release of the NFP, leaving the DXY still effectively...

Scotiabank

DGB update: First DGB auction in 2024

Wednesday 10 January the Danish central bank will be offering DGB 1.75 2025 and DGB 2.25 2033. We find DGB 1.75 2025 attractive and recommend...

Nordea

Pakistan Economy - PKR Down 20% Against US$ in 2023; Average Inflation of 31% but Likely to Fall

Pak Rupee (PKR) has been under pressure since last 7-Years. In 2023 PKR fell 20% against US$ in spite of some recovery in last few months. This...

Topline Securities

FX Daily - USD Edges Lower but Finds Support on Dips

he USD’s New Year rally has stalled, with the EUR gaining a little ground over the course of the European morning session on supportive data.

Scotiabank

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