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>Traders and investors bolstered bullish positioning in the USD in the run-up to the US election but have not added significantly to aggregate net USD longs in its immediate aftermath.</li><li>CFTC data for the week through November 12th shows overall NonCommercial (speculative) USD net longs (aggregated across the major currencies we monitor for this report) holding at USD17.7bn, very close to levels prevailing in late October.</li><li>Additional data shows Leveraged traders (hedge funds) increasing moderate net long USD positioning slightly in the latest week while Institutional (real money) traders pared net USD shorts slightly.</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.

Traders and investors bolstered bullish positioning in the USD in the run-up to the US election but have not added significantly to aggregate net USD longs in its immediate aftermath.CFTC data for the week through November 12th shows overall NonCommercial (speculative) USD net longs (aggregated across the major currencies we monitor for this report) holding at USD17.7bn, very close to levels prevailing in late October.Additional data shows Leveraged traders (hedge funds) increasing moderate net long USD positioning slightly in the latest week while Institutional (real money) traders pared net USD shorts slightly.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 C FTC Sentiment Report - USD Sentiment Steaadies After Election

<ul><li>Market sentiment continues to shift in favour of the USD, according to the latest Commitments of Traders data from the CFTC for the week through last Tuesday.</li><li>Non-Commercial (speculative) traders took a small net USD short position to a sizeable net USD long position overall, via a USD10bn swing in aggregate positioning in the major currencies we monitor for this report.</li><li>Additional data shows Leveraged (hedge fund) traders cutting their USD4bn net USD short from last week to near flat while Real Money (institutional) halved their net USD short over the week to a little less than USD9bn.</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.

Market sentiment continues to shift in favour of the USD, according to the latest Commitments of Traders data from the CFTC for the week through last Tuesday.Non-Commercial (speculative) traders took a small net USD short position to a sizeable net USD long position overall, via a USD10bn swing in aggregate positioning in the major currencies we monitor for this report.Additional data shows Leveraged (hedge fund) traders cutting their USD4bn net USD short from last week to near flat while Real Money (institutional) halved their net USD short over the week to a little less than USD9bn.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 - Speculative Sentiment Turns USD Bullish

<ul><li>The US dollar (USD) has underperformed in the third quarter, reflecting a constellation of factors that have shaken up currency trading and injected renewed volatility into markets.</li><li>We had expected the USD to ease somewhat in H2 as cyclical factors turn less supportive and while USD losses have moderated somewhat in recent trading, the net impact is still a somewhat weaker USD than we had anticipated at this stage.</li><li>USD weakness can be largely explained by the following. Firstly, US yields eased in July and fell sharply in August following the release of a weaker-than-expected US July employment report. </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 US dollar (USD) has underperformed in the third quarter, reflecting a constellation of factors that have shaken up currency trading and injected renewed volatility into markets.We had expected the USD to ease somewhat in H2 as cyclical factors turn less supportive and while USD losses have moderated somewhat in recent trading, the net impact is still a somewhat weaker USD than we had anticipated at this stage.USD weakness can be largely explained by the following. Firstly, US yields eased in July and fell sharply in August following the release of a weaker-than-expected US July employment report. 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>CFTC data covering the week through last Tuesday reflects a significant improvement in overall USD sentiment.</li><li>Non-Commercial (speculative) traders accelerated the recent pattern of trimming aggregate USD and the near USD8bn reduction in aggregate net USD shorts reflects one of the larger positioning shifts in recent months.</li><li>This shift leaves the overall Non-Commercial aggregate short position on the USD at just USD1.4bn, the smallest since late August. </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 covering the week through last Tuesday reflects a significant improvement in overall USD sentiment.Non-Commercial (speculative) traders accelerated the recent pattern of trimming aggregate USD and the near USD8bn reduction in aggregate net USD shorts reflects one of the larger positioning shifts in recent months.This shift leaves the overall Non-Commercial aggregate short position on the USD at just USD1.4bn, the smallest since late August. 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 - Speculative Sentiment Turns Near Flat on USD

<ul><li>We are revising our forecasts for the major currencies along with updated economic forecasts (see tables on page 3 and here for the Forecast Update).</li><li>The weakness in the USD that we expected to develop over the second half of the year has not materialized.</li><li>Firm US economic data drove expectations that the Fed could deliver a little more tightening—and hold interest rates high for longer—allowing the USD to stay elevated.</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.

We are revising our forecasts for the major currencies along with updated economic forecasts (see tables on page 3 and here for the Forecast Update).The weakness in the USD that we expected to develop over the second half of the year has not materialized.Firm US economic data drove expectations that the Fed could deliver a little more tightening—and hold interest rates high for longer—allowing the USD to stay elevated.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.

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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Weekly C FTC Sentiment Report - USD Sentiment Steaadies After Election

Traders and investors bolstered bullish positioning in the USD in the run-up to the US election but have not added significantly to aggregate net...

Scotiabank

Weekly CFTC Sentiment Report - Speculative Sentiment Turns USD Bullish

Market sentiment continues to shift in favour of the USD, according to the latest Commitments of Traders data from the CFTC for the week through...

Scotiabank

Monthly FX Outlook – September 2024

The US dollar (USD) has underperformed in the third quarter, reflecting a constellation of factors that have shaken up currency trading and...

Scotiabank

Weekly CFTC Sentiment Report - Speculative Sentiment Turns Near Flat on USD

This shift leaves the overall Non-Commercial aggregate short position on the USD at just USD1.4bn, the smallest since late August.

Scotiabank

FX Forecast Update—October 2023

We are revising our forecasts for the major currencies along with updated economic forecasts (see tables on page 3 and here for the Forecast Update).

Scotiabank

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