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>FX Market Update—The USD remains firm but gains versus the core majors are relatively minor, leaving the more significant USD advances on day so far concentrated against the likes of the MXN and ZAR as well as the NOK and SEK.</li><li>The GBP, CHF and JPY are all down less than 0.1% while the EUR is fractionally higher at writing. Stocks are lower in Asia and Europe while US futures are weaker.</li><li>Crude prices are slightly lower and bond market volatility remains elevated. US 10Y yields are up 9-10bps in overnight trade, reaching a little above 5%, while core European yields are up 7bps or so on the day. </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 remains firm but gains versus the core majors are relatively minor, leaving the more significant USD advances on day so far concentrated against the likes of the MXN and ZAR as well as the NOK and SEK.The GBP, CHF and JPY are all down less than 0.1% while the EUR is fractionally higher at writing. Stocks are lower in Asia and Europe while US futures are weaker.Crude prices are slightly lower and bond market volatility remains elevated. US 10Y yields are up 9-10bps in overnight trade, reaching a little above 5%, while core European yields are up 7bps or so on the day. 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 Firmer but Core Majors Hold Steady

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul>
<li>
The world of Macro never fails at keeping us busy and this week I reveal the 10 charts that I currently monitor daily to keep myself up to speed on allocations amidst this turbulence. Enjoy (the ride)! It’s been evident for a while that the diversification effects from US Treasuries are weak and we are now approaching a record high correlation between Equity and Bond returns. 
</li>
<li>If you haven’t already altered your portfolio composition, it is already overdue as the 60/40 portfolio seems structurally challenged.</li>
</ul>



The world of Macro never fails at keeping us busy and this week I reveal the 10 charts that I currently monitor daily to keep myself up to speed on allocations amidst this turbulence. Enjoy (the ride)!   It’s been evident for a while that the diversification effects from US Treasuries are weak and we are now approaching a record high correlation between Equity and Bond returns. 

If you haven’t already altered your portfolio composition, it is already overdue as the 60/40 portfolio seems structurally challenged.


Steno Signals #70 – 10 Charts You NEED to Monitor in Global Macro

<ul><li>FX Market Update—Risk aversion is the primary characteristic of the markets this morning.</li><li>Global stocks remain soft as investors reduce exposure to equities amid concerns about a weekend escalation of the Israel/Hamas conflict.</li><li>Crude oil prices have picked up a little while major bond markets are mixed; US Treasury yields have eased 4- 5bps from yesterday’s close.</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—Risk aversion is the primary characteristic of the markets this morning.Global stocks remain soft as investors reduce exposure to equities amid concerns about a weekend escalation of the Israel/Hamas conflict.Crude oil prices have picked up a little while major bond markets are mixed; US Treasury yields have eased 4- 5bps from yesterday’s close.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 Despite Weak Risk Appetite

<ul>
<li>Overall changes in aggregate positioning in the USD were little changed in this week’s CFTC data.</li>
<li>Aggregate Non-Commercial (speculative) net USD longs increased slightly (USD227mn), holding close to recent levels which remains the most bullish positioning on the USD in a little under a year (USD8.7bn).</li>
<li>Data shows that Leveraged Accounts (hedge funds) pared back aggregate net long USD positioning slightly while Real Money Accounts (institutional investors) persisted with (slightly reduced) net USD shorts.</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.


Overall changes in aggregate positioning in the USD were little changed in this week’s CFTC data.
Aggregate Non-Commercial (speculative) net USD longs increased slightly (USD227mn), holding close to recent levels which remains the most bullish positioning on the USD in a little under a year (USD8.7bn).
Data shows that Leveraged Accounts (hedge funds) pared back aggregate net long USD positioning slightly while Real Money Accounts (institutional investors) persisted with (slightly reduced) net USD shorts.

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 - Speculators Dip Back into Net EUR Longs

Head of Research, Steno Research

Emil Moller

Head of Research

<ul><li>Another week of blood and drama. But fear not, we’re here to wrap up the week with our usual watch series, where we’ll gauge the current market sentiment using the latest positioning data.</li><li>First things first, let’s take a quick peek at the chart of the week down below. In yesterday’s Portfolio Watch, we spilled the beans about some big changes we’re planning for our portfolio.</li><li>One of the main reasons we’re making these moves now is because of what we see in this chart: The S&amp;P 500 just dipped below its 200-day moving average support line, waving a red flag that suggests we might be in for a bumpy ride in the coming weeks</li></ul>

Another week of blood and drama. But fear not, we’re here to wrap up the week with our usual watch series, where we’ll gauge the current market sentiment using the latest positioning data.First things first, let’s take a quick peek at the chart of the week down below. In yesterday’s Portfolio Watch, we spilled the beans about some big changes we’re planning for our portfolio.One of the main reasons we’re making these moves now is because of what we see in this chart: The S&amp;P 500 just dipped below its 200-day moving average support line, waving a red flag that suggests we might be in for a bumpy ride in the coming weeks

Positioning Watch: Shifting Gears without Panic

Japan

The Japanese yen is the official currency of Japan. 

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JPY (USDJPY CURNCY)

FX Daily - USD Firmer but Core Majors Hold Steady

The GBP, CHF and JPY are all down less than 0.1% while the EUR is fractionally higher at writing. Stocks are lower in Asia and Europe while US...

Scotiabank

Steno Signals #70 – 10 Charts You NEED to Monitor in Global Macro

Happy Sunday from Mallorca and welcome to our weekly flagship editorial. The world of Macro never fails at keeping us busy and this week I reveal...

Steno Research

FX Daily - USD Mixed Despite Weak Risk Appetite

Global stocks remain soft as investors reduce exposure to equities amid concerns about a weekend escalation of the Israel/Hamas conflict.

Scotiabank

Weekly CFTC Sentiment Report - Speculators Dip Back into Net EUR Longs

Aggregate Non-Commercial (speculative) net USD longs increased slightly (USD227mn), holding close to recent levels which remains the most bullish...

Scotiabank

Positioning Watch: Shifting Gears without Panic

I sent Congress an urgent budget request to fund America’s national security needs to support our critical partners, including Israel and...

Steno Research

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