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 USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US jobs data on Friday.</li><li>A widening ground offensive in Gaza has not unsettled markets to any obvious extent; crude prices have slipped back from Friday’s advance and stocks are generally firmer.</li><li>Bonds are mixed; European yields are slightly lower while Treasury yields are a firmer but holding within Friday’s range. </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 mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US jobs data on Friday.A widening ground offensive in Gaza has not unsettled markets to any obvious extent; crude prices have slipped back from Friday’s advance and stocks are generally firmer.Bonds are mixed; European yields are slightly lower while Treasury yields are a firmer but holding within Friday’s range. 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), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Macroeconomics

<ul><li>Post the ECB’s decision to maintain interest rates at 4%, signalling a halt following a string of ten successive interest rate hikes, the market’s focus will now shift to this week’s FOMC meeting, with the expectation of a similar outcome.</li><li>Lower liquidity will hasten a higher BI rate policy, with SRBI indicating a higher yield.</li><li>Fiscal stimulus will be enough to compensate for the impact of BI’s 25 bps rate hike, and fiscal acceleration in 4Q will be seen as a panacea for liquidity.</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.

Post the ECB’s decision to maintain interest rates at 4%, signalling a halt following a string of ten successive interest rate hikes, the market’s focus will now shift to this week’s FOMC meeting, with the expectation of a similar outcome.Lower liquidity will hasten a higher BI rate policy, with SRBI indicating a higher yield.Fiscal stimulus will be enough to compensate for the impact of BI’s 25 bps rate hike, and fiscal acceleration in 4Q will be seen as a panacea for liquidity.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.

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.

Cross Asset Strategy

<ul><li>Happy Sunday from a wet and cloudy Copenhagen! Market fears are back and the rising term premiums and real rates are making their way through cross asset moves.</li><li>The biggest question to ask right now is whether the pandemic altered the geopolitical and- financial playing field to an extent that will allow &gt;+2% real rates for the next 10-20 years and whether equity multiples can continue to live in a QE world if QE is no longer a thing.</li><li>The repricing of cross asset trends due to rising real rates may not be over yet.</li></ul>

Happy Sunday from a wet and cloudy Copenhagen! Market fears are back and the rising term premiums and real rates are making their way through cross asset moves.The biggest question to ask right now is whether the pandemic altered the geopolitical and- financial playing field to an extent that will allow &gt;+2% real rates for the next 10-20 years and whether equity multiples can continue to live in a QE world if QE is no longer a thing.The repricing of cross asset trends due to rising real rates may not be over yet.

Steno Signals #71 – A First Taste of the Recession Sell-Off?

<ul><li>FX Market Update—The USD is trading firmly, but a little off its best levels, ahead of this morning’s data releases.</li><li>Stocks are soft on weak earnings data while a brief incursion into Gaza by the Israeli army overnight added to market anxiety.</li><li>Bonds are little changed, however, and crude oil has drifted a bit while G-10 commodity FX is outperforming, if only very modestly, so the risk off narrative does not fully explain intraday developments on the face of it.</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 firmly, but a little off its best levels, ahead of this morning’s data releases.Stocks are soft on weak earnings data while a brief incursion into Gaza by the Israeli army overnight added to market anxiety.Bonds are little changed, however, and crude oil has drifted a bit while G-10 commodity FX is outperforming, if only very modestly, so the risk off narrative does not fully explain intraday developments on the face of it.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.

Crypto Research and Data, Delphi Digital

Delphi Digital

Crypto Research and Data

Institutional-Grade Crypto Research & Data

Delphi Digital seeks to produce unbiased, actionable content for our clients on critical themes affecting digital assets and distributed ledger technology. Our team is committed to providing investors and institutions with key insights through a diverse suite of products including individual project analysis, bespoke research, and tailored consulting services.

Crypto

<ul>
<li>Crypto prices are still tracking our expected cycle trend, and the next big test is whether we see another period of consolidation — or if the breakout is finally near.</li>
<li>We outline a few notable risks in the near term that may stand in the way of the next crypto uptrend: stagnant liquidity, buyer exhaustion, further tightening in financial conditions</li>
<li>We don’t see these risks as long-term trends and view any downside volatility as an opportunity to increase exposure to the best assets at even better entry prices.</li>
</ul>


Crypto prices are still tracking our expected cycle trend, and the next big test is whether we see another period of consolidation — or if the breakout is finally near.
We outline a few notable risks in the near term that may stand in the way of the next crypto uptrend: stagnant liquidity, buyer exhaustion, further tightening in financial conditions
We don’t see these risks as long-term trends and view any downside volatility as an opportunity to increase exposure to the best assets at even better entry prices.


Through the Fire - Will the Rubber Meet the Road?

United States

The U.S. Dollar Index(USDX) indicates the general int'l value of the USD. The USDX does this by averaging the exchange rates between the USD and major world currencies. The ICE US computes this by using the rates supplied by some 500 banks. FOR REAL TIME SEE EIS ICEA<GO>.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Dollar Index (DXY CURNCY)

FX Daily - USD Drifts on Market Calm

The USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US...

Scotiabank

Macro Strategy: Liquidity Impetus

Fiscal stimulus will be enough to compensate for the impact of BI’s 25 bps rate hike, and fiscal acceleration in 4Q will be seen as a panacea for...

BRI Danareksa Research

Steno Signals #71 – A First Taste of the Recession Sell-Off?

The biggest question to ask right now is whether the pandemic altered the geopolitical and- financial playing field to an extent that will allow...

Steno Research

FX Daily - USD Firm Ahead of GDP Data

tocks are soft on weak earnings data while a brief incursion into Gaza by the Israeli army overnight added to market anxiety.

Scotiabank

Through the Fire - Will the Rubber Meet the Road?

Crypto prices are following expected trends, but face short-term risks like stagnant liquidity and further financial tightening. We view downside...

Delphi Digital

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FX Daily - USD Drifts on Market Calm

The USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US...

Scotiabank

Macro Strategy: Liquidity Impetus

Fiscal stimulus will be enough to compensate for the impact of BI’s 25 bps rate hike, and fiscal acceleration in 4Q will be seen as a panacea for...

BRI Danareksa Research

Steno Signals #71 – A First Taste of the Recession Sell-Off?

The biggest question to ask right now is whether the pandemic altered the geopolitical and- financial playing field to an extent that will allow...

Steno Research

FX Daily - USD Firm Ahead of GDP Data

tocks are soft on weak earnings data while a brief incursion into Gaza by the Israeli army overnight added to market anxiety.

Scotiabank

Through the Fire - Will the Rubber Meet the Road?

​Crypto prices are following expected trends, but face short-term risks like stagnant liquidity and further financial tightening. We view downside...

Delphi Digital

Crypto prices are following expected trends, but face short-term risks like stagnant liquidity and further financial tightening. We view downside...