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>Just after I sent out last week’s note, the CAD started to show some signs of a revival against the USD and averted further losses to retest the 1.39 area as I feared could be the case; there was some underlying resilience in the CAD after all.</li><li>But although the CAD has picked up ground against a soft USD this week, its 0.5% rise is the smallest among the major currencies.</li><li>The sharp slide in crude oil seemed to pin back the CAD Thursday but a look at the currency performance league on the week shows the MXN, NOK and AUD in the top five, with gains of at least 2%. </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.

Just after I sent out last week’s note, the CAD started to show some signs of a revival against the USD and averted further losses to retest the 1.39 area as I feared could be the case; there was some underlying resilience in the CAD after all.But although the CAD has picked up ground against a soft USD this week, its 0.5% rise is the smallest among the major currencies.The sharp slide in crude oil seemed to pin back the CAD Thursday but a look at the currency performance league on the week shows the MXN, NOK and AUD in the top five, with gains of at least 2%. 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 Lags But Can Progress Against Softer USD

External broker reports(aggregated public sources), Nordea

Nordea

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.

<ul><li>EURNOK is now trading just below 11.80, down from a peak at 11.96 yesterday. USDNOK has fallen to 10.86 from 11.15.</li><li>The larger decline in USDNOK compared to EURNOK needs to be seen in light of a broad USD weakening, with EURUSD up from 1.07 to around 1.085.</li><li>The massive NOK rally happened after the publishing of the US CPI figures, with core inflation falling from 4.1% y/y down to 4% while consensus was for no decline. </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.

EURNOK is now trading just below 11.80, down from a peak at 11.96 yesterday. USDNOK has fallen to 10.86 from 11.15.The larger decline in USDNOK compared to EURNOK needs to be seen in light of a broad USD weakening, with EURUSD up from 1.07 to around 1.085.The massive NOK rally happened after the publishing of the US CPI figures, with core inflation falling from 4.1% y/y down to 4% while consensus was for no decline. 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.

NOK Update: Huge Relief Rally but Will It Be Sustained?

<ul><li>EURNOK is trading around 12.00. Lately, good news has been disregarded while bad news has hurt the NOK.</li><li>Seasonally speaking, this is not the best time for the NOK.</li><li>We expect the NOK to do better at the start of next year, but risks remain.</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.

EURNOK is trading around 12.00. Lately, good news has been disregarded while bad news has hurt the NOK.Seasonally speaking, this is not the best time for the NOK.We expect the NOK to do better at the start of next year, but risks remain.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.

NOK Update: EURNOK Above 12 for a 3rd Time

Macroeconomics

<ul><li>There was some excitement amongst market participant wether Norges Bank could once more hike by 50bp after the inflation up-shoot in June.</li><li>However with July inflation broadly in line with the central bank’s view, the excitement has disappeared.</li><li>We expect Norges Bank to stick to it plan from June and increase the key rate by 25bp to 4.0%.</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.

There was some excitement amongst market participant wether Norges Bank could once more hike by 50bp after the inflation up-shoot in June.However with July inflation broadly in line with the central bank’s view, the excitement has disappeared.We expect Norges Bank to stick to it plan from June and increase the key rate by 25bp to 4.0%.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.

Norges Bank Preview: Sticking to the plan

<ul><li>The NOK has had a good summer.</li><li>EURNOK has fallen to 11.20 after largely trading in the 11.60-12.00 range during June and the beginning of July.</li><li>USDNOK is now trading around 10.20 after having been briefly below 10, down from around 11.00 before summer.</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 NOK has had a good summer.EURNOK has fallen to 11.20 after largely trading in the 11.60-12.00 range during June and the beginning of July.USDNOK is now trading around 10.20 after having been briefly below 10, down from around 11.00 before summer.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.

Norway

The Norwegian krone is the official currency of the Kingdom of Norway.  The US dollar is the official currency of the United States of America.

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NOK (USDNOK CURNCY)

CAD Weekly Outlook - CAD Lags But Can Progress Against Softer USD

Just after I sent out last week’s note, the CAD started to show some signs of a revival against the USD and averted further losses to retest the...

Scotiabank

NOK Update: Huge Relief Rally but Will It Be Sustained?

The massive NOK rally happened after the publishing of the US CPI figures, with core inflation falling from 4.1% y/y down to 4% while consensus was...

Nordea

NOK Update: EURNOK Above 12 for a 3rd Time

EURNOK is trading around 12.00. Lately, good news has been disregarded while bad news has hurt the NOK. Seasonally speaking, this is not the best...

Nordea

Norges Bank Preview: Sticking to the plan

There was some excitement amongst market participant wether Norges Bank could once more hike by 50bp after the inflation up-shoot in June.

Nordea

NOK Update: No summertime sadness

The NOK has had a good summer. EURNOK has fallen to 11.20 after largely trading in the 11.60-12.00 range during June and the beginning of...

Nordea

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