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 mixed to slightly lower in quiet trade overnight.</li><li>Stocks are trading in the green, mostly, while bond markets are weaker (rising yields prompted the BoJ to undertake some unscheduled 10Y bond buys earlier today) and major commodities are mixed.</li><li>It’s month -end which may liven things up a little in our session.</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 mixed to slightly lower in quiet trade overnight.Stocks are trading in the green, mostly, while bond markets are weaker (rising yields prompted the BoJ to undertake some unscheduled 10Y bond buys earlier today) and major commodities are mixed.It’s month -end which may liven things up a little in our session.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 into Month-End, Eyes on NFP

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.

Macroeconomics

<ul><li>Euro-area flash inflation continued to ease in July to 5.3% y/y in line with BBG consensus, down from 5.5% y/y in June.</li><li>Core inflation remained unchanged at 5.5% y/y (BBG consensus: 5.4% y/y).Service inflation increased to 5.6% y/y in July from 5.4% y/y in June.</li><li>Not something the ECB wants to see as services prices are the most sensitive to wage growth and may be an indication that the labour market remains too tight.</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.

Euro-area flash inflation continued to ease in July to 5.3% y/y in line with BBG consensus, down from 5.5% y/y in June.Core inflation remained unchanged at 5.5% y/y (BBG consensus: 5.4% y/y).Service inflation increased to 5.6% y/y in July from 5.4% y/y in June.Not something the ECB wants to see as services prices are the most sensitive to wage growth and may be an indication that the labour market remains too tight.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.

Euro-area flash inflation: Higher service inflation

<ul><li>FX Market Update —The FOMC decision largely delivered on expectations —a 1/4 point hike and Chairman Powell stressing data dependency on future policy moves.</li><li>September is a “live” meeting by inference but market pricing reflects still low expectations (20% probability) of a hike at the next meeting with a bit less than 50% probability of a move before year end.</li><li>That’s a bit lower than pre -FOMC levels. The shift is hardly decisive but markets are essentially marginally more inclined to feel that the Fed is done with tightening here.</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 FOMC decision largely delivered on expectations —a 1/4 point hike and Chairman Powell stressing data dependency on future policy moves.September is a “live” meeting by inference but market pricing reflects still low expectations (20% probability) of a hike at the next meeting with a bit less than 50% probability of a move before year end.That’s a bit lower than pre -FOMC levels. The shift is hardly decisive but markets are essentially marginally more inclined to feel that the Fed is done with tightening here.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 Softer Ahead of ECB and US GDP, PCE

<ul>
<li>This week’s Fed and ECB policy decisions resulted in as expected rate hikes in both cases.</li>
<li>The USD wobbled Wednesday even as the Fed tightened and left the door open to another move in September.</li>
<li>That raised the rather confusing (unlikely?) prospect of the Fed tightening at consecutive meetings again when inflationary pressures appear to be abating.</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 Fed and ECB policy decisions resulted in as expected rate hikes in both cases.
The USD wobbled Wednesday even as the Fed tightened and left the door open to another move in September.
That raised the rather confusing (unlikely?) prospect of the Fed tightening at consecutive meetings again when inflationary pressures appear to be abating.

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 Squeeze May Extend in the Short Run

<ul>
<li>The headline ESI declined to 87.5 in July from 89.9 the previous month.</li>
<li>Today’s reading marks the 12th consecutive month below the neutral level 100. The index was mainly weighed down by sharp declines in the manufacturing and construction sectors.</li>
<li>Manufacturing confidencefell by 4.8 index points to 97.1, thus taking the index to contractionary territory for the first time since August 2020.</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 headline ESI declined to 87.5 in July from 89.9 the previous month.
Today’s reading marks the 12th consecutive month below the neutral level 100. The index was mainly weighed down by sharp declines in the manufacturing and construction sectors.
Manufacturing confidencefell by 4.8 index points to 97.1, thus taking the index to contractionary territory for the first time since August 2020.

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.

Swedish Tendency Survey: Lower Price Plans and Signs of a Cooling Labour Market

United States

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

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USD (USD CURNCY)

FX Daily -USD Mixed into Month-End, Eyes on NFP

The USD is mixed to slightly lower in quiet trade overnight. Stocks are trading in the green, mostly, while bond markets are weaker (rising yields...

Scotiabank

Euro-area flash inflation: Higher service inflation

Euro-area flash inflation continued to ease in July to 5.3% y/y in line with BBG consensus, down from 5.5% y/y in June. Core inflation remained...

Nordea

FX Daily - USD Softer Ahead of ECB and US GDP, PCE

FX Market Update —The FOMC decision largely delivered on expectations —a 1/4 point hike and Chairman Powell stressing data dependency on future...

Scotiabank

FX Snapshot - USD Squeeze May Extend in the Short Run

This week’s Fed and ECB policy decisions resulted in as expected rate hikes in both cases. The USD wobbled Wednesday even as the Fed tightened and...

Scotiabank

Swedish Tendency Survey: Lower Price Plans and Signs of a Cooling Labour Market

The headline ESI declined to 87.5 in July from 89.9 the previous month. Today’s reading marks the 12th consecutive month below the neutral level...

Nordea

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