Scotiabank News & Analysis

The US Dollar (USD) is trading lower overall to start the day, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Scotiabank cut shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$86.00 to C$77.00 in a report on Tuesday.

Scotiabank boosted their target price on shares of CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Tuesday.

The Pound Sterling (GBP) is little changed while Gilts are a little softer in line with the broader tone in fixed income as UK markets are brace for tomorrow’s budget announcement, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

ECB VP Guindos remarked that despite evidence that the disinflationary process in the Eurozone was ‘well on track’, there were substantial risks around the outlook for prices, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is marginally higher on the day so far.

Markets are relatively quiet overall and perhaps with an eye on Friday’s payrolls data and the US Presidential election just a week away now, that’s not surprising.

The Pound Sterling (GBP) is unchanged on the day as local markets slip into a holding pattern ahead of Wednesday’s budget, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

EUR/USD dropped back to the upper 1.07s in early Asian trade before crawling back to the low 1.08s, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is trading little changed on the day, with spot ignoring the sharp drop in crude prices—rather surprisingly, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The JPY slumped at the outset of trading overnight in response to the results of Japan’s elections on Sunday, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Scotiabank increased their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday.

Scotiabank boosted their price target on Boston Properties from $82.00 to $91.00 and gave the company a “sector outperform” rating in a research note on Friday.

Scotiabank lowered their price target on shares of Prologis from $142.00 to $136.00 and set a “sector outperform” rating for the company in a report on Friday.

The Pound Sterling (GBP) is a mild outperformer on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

ECB policymakers have perhaps said all that can possibly be said about the outlook for rates this week.

Scotiabank lowered shares of Newmont from a “sector outperform” rating to a “sector perform” rating in a report on Friday.

Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $48.00 in a research report on Friday.

The Canadian Dollar (CAD) is little changed on the session.

Scotiabank lifted their price target on AltaGas to C$39.00 in a research note on Thursday.

Scotiabank raised their target price on shares of Docebo from $50.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Thursday.

Scotiabank lifted their price target on The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Thursday.

Scotiabank lifted their target price on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday.

UK PMI data for October were broadly weaker than forecast. Manufacturing, Services and Composite readings all held above the 50 point this month but the sharp drop in Manufacturing (50.3, from 51.5) and the Composite measure (51.7, from 52.6) suggests …

The Euro (EUR) is nudging back over the 1.08 line as trading gets going in North America, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Pound Sterling (GBP) is holding up relatively well against the stronger USD, trading little changed on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) looks quite soft below 1.08, pressured by broader USD gains on the one hand and simmering speculation that the ECB could cut rates aggressively in December, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is holding relatively steady against the strong USD ahead of the Bank of Canada policy decision and MPR at 9.45ET.

The US Dollar (USD) is extending gains this morning, pressuring the EUR below 1.08 and driving USDPY above 152 as US yields rebound from yesterday’s dip, leaving the 10Y yield within a whisker of 4.25%, Scotiabank’s Chief FX Strategist Shaun Osborne no…

Scotiabank upped their price objective on Topaz Energy from C$34.00 to C$35.00 in a research note on Tuesday.

UK data showed government borrowing a shade lower than expectations in September (GBP16.6bn) but cumulative borrowing over the fiscal half year was above forecasts which may limit the Labour government’s room for manoeuver in next week’s budget, Scotia…

EUR/USD trade has been a little choppy, within a limited range, so far on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) has had a minor reprieve this morning as it holds little changed on the session but some 20 ticks above yesterday’s low against the USD in the mid-1.38s, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The US Dollar (usd) is trading flatter against its major currency peers as DXY gains show some—tentative—signs of stalling around the 104 area (which was the upper end of the range I suggested the DXY could reach at the start of the month as the index …

Rightmove House Price data for October were released over the weekend and showed a moderate (0.3%) rise in house prices last month, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Scotiabank initiated coverage on CyberArk Software in a research note on Monday. They issued a “sector outperform” rating and a $340.00 price objective on the stock.

Dovish comments from ECB Governors Simkus and Kazaks support market expectations for a further reduction in ECB rates in December, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is one of the better-performing currencies on the session when looking at overall ground lost versus the USD on the session but it is trading at session lows against the USD as our trading day gears up, Scotiabank’s Chief FX S…

The JPY is soft, near 150, reflecting the rebound in US yields and less supportive spreads, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The US Dollar (USD) remains firm, supported by softer risk appetite and rising US Treasury yields, Scotiabank’s Chief FX Strategist Shaun Osborne notes.