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.

FX & Rates

<ul><li>The FOMC held the Fed funds rate unchanged in the range 5.25 to 5.5%, as widely expected.</li><li>The Fed remains data dependent and want to see more good inflation data in order to “continuing evidence to build confidence” that inflation is sustainably back to 2% on a sustainable basis.</li><li>Moreover, the Fed is more confident that the peak rate is here and removed the hiking bias sentence from their press statement.The FOMC statement was on the hawkish side compared to markets expectations:“In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.</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 FOMC held the Fed funds rate unchanged in the range 5.25 to 5.5%, as widely expected.The Fed remains data dependent and want to see more good inflation data in order to “continuing evidence to build confidence” that inflation is sustainably back to 2% on a sustainable basis.Moreover, the Fed is more confident that the peak rate is here and removed the hiking bias sentence from their press statement.The FOMC statement was on the hawkish side compared to markets expectations:“In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.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.

­­Fed Review: Not Confident to Cut Rates – Yet

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.

<ul><li>The USD remains range-bound in broad terms and is trading mixed on the session again in the absence of a stronger sense of direction across the major currencies.</li><li>Gains in the dollar index (DXY) peaked around 103.8 yesterday, equating to a retest of last week’s high.</li><li>The turn lower in the index tilts short-term technical risks to the downside and a test of the 103 area but whether the markets can muster the momentum to push lower ahead of Wednesday’s FOMC decision remains to be seen. </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 remains range-bound in broad terms and is trading mixed on the session again in the absence of a stronger sense of direction across the major currencies.Gains in the dollar index (DXY) peaked around 103.8 yesterday, equating to a retest of last week’s high.The turn lower in the index tilts short-term technical risks to the downside and a test of the 103 area but whether the markets can muster the momentum to push lower ahead of Wednesday’s FOMC decision remains to be seen. 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.

<ul><li>The latest snapshot of FX sentiment and positioning provided by the CFTC data for the week through January 23rd reflect a further reduction in overall USD bearishness, in keeping with the broader USD rebound seen in early 2024 so far.</li><li>Non-commercial (speculative) traders pared aggregate USD shorts (against the major currencies we monitor for this report) USD3.6bn in the week through last Tuesday, taking the overall net short back to USD5.7bn.</li><li>Additional data shows Institutional Accounts (real money traders) clipping aggregate USD longs USD4.5bn on the week while Leveraged Accounts (hedge funds) reduced a small net long from the prior couple of weeks to effectively flat</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 latest snapshot of FX sentiment and positioning provided by the CFTC data for the week through January 23rd reflect a further reduction in overall USD bearishness, in keeping with the broader USD rebound seen in early 2024 so far.Non-commercial (speculative) traders pared aggregate USD shorts (against the major currencies we monitor for this report) USD3.6bn in the week through last Tuesday, taking the overall net short back to USD5.7bn.Additional data shows Institutional Accounts (real money traders) clipping aggregate USD longs USD4.5bn on the week while Leveraged Accounts (hedge funds) reduced a small net long from the prior couple of weeks to effectively flatContent 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.

CFTC Weekly Sentiment Report - USD Sentiment Improves on EUR Long Liquidation

<ul><li>Choppy, range-bound trading in the major currencies continues.</li><li>The US PMI data and a sloppy 5Y auction yesterday helped drive US yields higher and lift the USD off its lows but markets are not showing an awful lot of conviction either way at this point, with event risk looming large on the near-term horizon.</li><li>Focus today turns to Q4 GDP which is expected to reflect a slowing the pace of growth to around 2.0% (the Atlanta Fed’s GDPNow tracking currently sits at 2.2%). </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.

Choppy, range-bound trading in the major currencies continues.The US PMI data and a sloppy 5Y auction yesterday helped drive US yields higher and lift the USD off its lows but markets are not showing an awful lot of conviction either way at this point, with event risk looming large on the near-term horizon.Focus today turns to Q4 GDP which is expected to reflect a slowing the pace of growth to around 2.0% (the Atlanta Fed’s GDPNow tracking currently sits at 2.2%). 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.

<ul><li>Four key events should be closely watched in the coming week:The ECB meetingThe Fed meetingUS Treasury’s Quarterly Refunding Announcement (QRA)Euro-area inflationYellen vs PowellThe US Treasury's QRA kickstarted the two latest big market moves.</li><li>The QRA is where the quarter ahead issuance need is announced as well as the split in eg bills and bonds.</li><li>In early August, the US Treasury announced higher-than-expected issuance in Q2-Q3 with focus on Treasury bonds, prompting almost three months of higher term premia, higher 10y rates and steeper curves.</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.

Four key events should be closely watched in the coming week:The ECB meetingThe Fed meetingUS Treasury’s Quarterly Refunding Announcement (QRA)Euro-area inflationYellen vs PowellThe US Treasury's QRA kickstarted the two latest big market moves.The QRA is where the quarter ahead issuance need is announced as well as the split in eg bills and bonds.In early August, the US Treasury announced higher-than-expected issuance in Q2-Q3 with focus on Treasury bonds, prompting almost three months of higher term premia, higher 10y rates and steeper curves.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.

United States

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

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USD (USD CURNCY)

Fed Review: Not Confident to Cut Rates – Yet

The FOMC held the Fed funds rate unchanged in the range 5.25 to 5.5%, as widely expected. The Fed remains data dependent and want to see more good...

Nordea

FX Daily - USD Slips on Lower Yields

The USD remains range-bound in broad terms and is trading mixed on the session again in the absence of a stronger sense of direction across the...

Scotiabank

CFTC Weekly Sentiment Report - USD Sentiment Improves on EUR Long Liquidation

The latest snapshot of FX sentiment and positioning provided by the CFTC data for the week through January 23rd reflect a further reduction in...

Scotiabank

FX Daily - USD Holds Range Ahead of GDP

The US PMI data and a sloppy 5Y auction yesterday helped drive US yields higher and lift the USD off its lows but markets are not showing an awful...

Scotiabank

EUR Rates: Lagarde & Powell vs Yellen

Four key events should be closely watched in the coming week:The ECB meetingThe Fed meetingUS Treasury’s Quarterly Refunding Announcement...

Nordea

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

­­Fed Review: Not Confident to Cut Rates – Yet

The FOMC held the Fed funds rate unchanged in the range 5.25 to 5.5%, as widely expected. The Fed remains data dependent and want to see more good...

Nordea

FX Daily - USD Slips on Lower Yields

The USD remains range-bound in broad terms and is trading mixed on the session again in the absence of a stronger sense of direction across the...

Scotiabank

CFTC Weekly Sentiment Report - USD Sentiment Improves on EUR Long Liquidation

The latest snapshot of FX sentiment and positioning provided by the CFTC data for the week through January 23rd reflect a further reduction in...

Scotiabank

FX Daily - USD Holds Range Ahead of GDP

The US PMI data and a sloppy 5Y auction yesterday helped drive US yields higher and lift the USD off its lows but markets are not showing an awful...

Scotiabank

EUR Rates: Lagarde & Powell vs Yellen

Four key events should be closely watched in the coming week:The ECB meetingThe Fed meetingUS Treasury’s Quarterly Refunding Announcement...

Nordea

Fed Review: Not Confident to Cut Rates – Yet