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>Key US data releases over the past couple of weeks have helped resolve the outlook for the USD into year-end.</li><li>A few weeks ago, I noted that the pathway to a firm or even firmer USD into year-end looked easier to envisage, given the outlook for US yields (spreads), (soft) stocks and geo-political factors.</li><li>However, I also cautioned that those factors were largely priced in to the USD and that the USD remained quite “rich” Developments since then—especially the latest NFP data and CPI reports—have clearly reduced the risk of more Fed tightening. 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.</li></ul>

Key US data releases over the past couple of weeks have helped resolve the outlook for the USD into year-end.A few weeks ago, I noted that the pathway to a firm or even firmer USD into year-end looked easier to envisage, given the outlook for US yields (spreads), (soft) stocks and geo-political factors.However, I also cautioned that those factors were largely priced in to the USD and that the USD remained quite “rich” Developments since then—especially the latest NFP data and CPI reports—have clearly reduced the risk of more Fed tightening. 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 Snapshot - USD Slides into Sell Rallies Mode

<ul><li>The USD retains a soft undertone but the DXY is essentially consolidating near yesterday’s closing low for the index as investors await developments.</li><li>Lower US CPI data has done a solid for EM FX while high beta FX is generally firmer on the session, reflecting a sea of green on the equity screens.</li><li>Asian markets rose strongly on the added impetus of a significant liquidity add by the PBoC through its medium-term lending facility. </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 retains a soft undertone but the DXY is essentially consolidating near yesterday’s closing low for the index as investors await developments.Lower US CPI data has done a solid for EM FX while high beta FX is generally firmer on the session, reflecting a sea of green on the equity screens.Asian markets rose strongly on the added impetus of a significant liquidity add by the PBoC through its medium-term lending facility. 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 Steadies Ahead of Retail Sales

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>This week’s note is a step back to look at market pricing and the related central bank narrative, how much further this narrative can run, and the risks surrounding it.</li><li>The note ends with a small chart pack on Euro-area inflation.</li><li>ECB pricing changed after the US CPI print yesterday, where momentum in core inflation slowed</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.

This week’s note is a step back to look at market pricing and the related central bank narrative, how much further this narrative can run, and the risks surrounding it.The note ends with a small chart pack on Euro-area inflation.ECB pricing changed after the US CPI print yesterday, where momentum in core inflation slowedContent 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>Last week’s broad rise in the USD is showing some signs of rolling over as markets position for the key economic releases due from the US in the next couple of days.</li><li>Today’s October CPI is expected to show a 0.1% rise in headline prices and a deceleration in the year-on-year rate to 3.3%, down from 3.7% in September.</li><li>Core prices are expected to rise 0.3% for a 4.1% gain in the October year—unchanged from September’s read. Retail Sales tomorrow are expected to reflect soft headline consumer activity in October (-0.3% m/m). </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.

Last week’s broad rise in the USD is showing some signs of rolling over as markets position for the key economic releases due from the US in the next couple of days.Today’s October CPI is expected to show a 0.1% rise in headline prices and a deceleration in the year-on-year rate to 3.3%, down from 3.7% in September.Core prices are expected to rise 0.3% for a 4.1% gain in the October year—unchanged from September’s read. Retail Sales tomorrow are expected to reflect soft headline consumer activity in October (-0.3% m/m). 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.

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>During the period under consideration, i.e. September 27th – October 27th, 2023, the EUR/USD exchange rate fluctuated between 1.049 and 1.061 until October 22nd, 2023, but thereafter it followed an instantaneous daily uptrend on October 23 to finally secure the price of 1.0668.</li><li>However, at the finish of October, the Euro notched a slight drop, but it was still trading higher than the levels at the end of September.</li><li>According to Graph 1, during the first 18 trading days of the period under consideration, the pair showed a consolidation pattern mainly along the range of 1.05-1.0593 (except 2 sessions). </li></ul>

During the period under consideration, i.e. September 27th – October 27th, 2023, the EUR/USD exchange rate fluctuated between 1.049 and 1.061 until October 22nd, 2023, but thereafter it followed an instantaneous daily uptrend on October 23 to finally secure the price of 1.0668.However, at the finish of October, the Euro notched a slight drop, but it was still trading higher than the levels at the end of September.According to Graph 1, during the first 18 trading days of the period under consideration, the pair showed a consolidation pattern mainly along the range of 1.05-1.0593 (except 2 sessions). 

Comment on Exchange Rate EUR/USD October 27, 2023

United States

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

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USD (USD CURNCY)

FX Snapshot - USD Slides into Sell Rallies Mode

A few weeks ago, I noted that the pathway to a firm or even firmer USD into year-end looked easier to envisage, given the outlook for US yields...

Scotiabank

FX Daily - USD Steadies Ahead of Retail Sales

The USD retains a soft undertone but the DXY is essentially consolidating near yesterday’s closing low for the index as investors await developments.

Scotiabank

EUR rates: Inflation victory

This week’s note is a step back to look at market pricing and the related central bank narrative, how much further this narrative can run, and the...

Nordea

FX Daily - USD Mixed Ahead of CPI

Last week’s broad rise in the USD is showing some signs of rolling over as markets position for the key economic releases due from the US in the...

Scotiabank

Comment on Exchange Rate EUR/USD October 27, 2023

During the period under consideration, i.e. September 27th – October 27th, 2023, the EUR/USD exchange rate fluctuated between 1.049 and 1.061 until...

VRS (Valuation & Research Specialists)

Price Gauge

52-week Range

Market Cap (USDm)

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