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>In recent months, investors and economists have marked down the probability of a recession, after growth has surprised on the upside and inflation has surprised on the downside.</li><li>This has fueled equity prices, lifted interest rates , and weighed on the US dollar.</li><li>Put together, it looks like the perfect picture of a soft landing – everyone is getting exactly what they want – slowing inflation and a strong economy.</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.

In recent months, investors and economists have marked down the probability of a recession, after growth has surprised on the upside and inflation has surprised on the downside.This has fueled equity prices, lifted interest rates , and weighed on the US dollar.Put together, it looks like the perfect picture of a soft landing – everyone is getting exactly what they want – slowing inflation and a strong economy.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>The USD is drifting a little lower ahead of this morning’s key data releases.</li><li>The 8.30ET round brings US weekly claims (expected up slightly at 230k) and July CPI.</li><li>The monthly rise in inflation is expected to be moderate 0.2% M/M but the pace of headline inflation is expected to push higher from June’s 3.0% to 3.3%.</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 drifting a little lower ahead of this morning’s key data releases.The 8.30ET round brings US weekly claims (expected up slightly at 230k) and July CPI.The monthly rise in inflation is expected to be moderate 0.2% M/M but the pace of headline inflation is expected to push higher from June’s 3.0% to 3.3%.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 Slips Modestly Ahead of CPI

Head of Research, Steno Research

Emil Moller

Head of Research

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.

<ul><li>As we engage a pivotal juncture between DM rates approaching peak and China on the verge of descending into deflation, EM Macro is subject to converging pressures.</li><li>It is essential to embrace the diversity in the EM space here.</li><li>I have been advocating throughout the early spring that EM’s were ahead and would be the first rate-cutters in this cycle and the LatAm carry trade will likely take in water in the aftermath – while the rate cuts have largely aligned with my expectations (which preceded market pricing I might add), the punishment in foreign exchange has been harsher and quicker than I anticipated.</li></ul>

As we engage a pivotal juncture between DM rates approaching peak and China on the verge of descending into deflation, EM Macro is subject to converging pressures.It is essential to embrace the diversity in the EM space here.I have been advocating throughout the early spring that EM’s were ahead and would be the first rate-cutters in this cycle and the LatAm carry trade will likely take in water in the aftermath – while the rate cuts have largely aligned with my expectations (which preceded market pricing I might add), the punishment in foreign exchange has been harsher and quicker than I anticipated.

EM BY EM #16 Counting coppers and rating cuts

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

<ul><li>The EUR/USD exchange rate ended up moving upwards in June 2023 despite the various fluctuations occurring during the month.</li><li>During the first ten trading days of the period under consideration, the pair was fluctuating along a narrow range, i.e. 1.07-1.08.</li><li>From June 13th – 21st, the exchange rate increased significantly whereas in the following trading sessions, the pair faced some ups and downs, finally closing with a slight rise on monthly basis, i.e.compared to end of May.</li></ul>

The EUR/USD exchange rate ended up moving upwards in June 2023 despite the various fluctuations occurring during the month.During the first ten trading days of the period under consideration, the pair was fluctuating along a narrow range, i.e. 1.07-1.08.From June 13th – 21st, the exchange rate increased significantly whereas in the following trading sessions, the pair faced some ups and downs, finally closing with a slight rise on monthly basis, i.e.compared to end of May.

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

<ul>
<li>Welcome back to our Wednesday series where we take you through the world of global macro and what to look out for going forward.</li>
<li>With US CPI being released tomorrow – where we as always will cover the most important take-aways post-release – there is room for market movements as the disinflation narrative continues amidst the possibility of a positive surprise in headline CPI due to base effects.</li>
<li>We’ll as always be short and concise and let you into our thinking regarding asset allocation and positioning ahead of the data/events mentioned.</li>
</ul>


Welcome back to our Wednesday series where we take you through the world of global macro and what to look out for going forward.
With US CPI being released tomorrow – where we as always will cover the most important take-aways post-release – there is room for market movements as the disinflation narrative continues amidst the possibility of a positive surprise in headline CPI due to base effects.
We’ll as always be short and concise and let you into our thinking regarding asset allocation and positioning ahead of the data/events mentioned.


5 Things We Watch – Fed Overtightening, Curve Steepening, US CPI, BoJ & China

United States

The US dollar is the official currency of the United States of America.

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USD (USD CURNCY)

Macro & Markets: Soft landing dreams

Fading recession risks.In recent months, investors and economists have marked down the probability of a recession, after growth has surprised on...

Nordea

FX Daily - USD Slips Modestly Ahead of CPI

The USD is drifting a little lower ahead of this morning’s key data releases. The 8.30ET round brings US weekly claims (expected up slightly at...

Scotiabank

EM BY EM #16 Counting coppers and rating cuts

As we engage a pivotal juncture between DM rates approaching peak and China on the verge of descending into deflation, EM Macro is subject to...

Steno Research

Comment On Exchange Rate EUR/USD

The EUR/USD exchange rate ended up moving upwards in June 2023 despite the various fluctuations occurring during the month.

VRS (Valuation & Research Specialists)

5 Things We Watch – Fed Overtightening, Curve Steepening, US CPI, BoJ & China

Welcome back to our Wednesday series where we take you through the world of global macro and what to look out for going forward. With US CPI being...

Steno Research

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