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.

External broker reports(aggregated public sources)

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. <em>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.</em></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