The Pound Sterling (GBP) is down on the day and is all but unchanged over a week when most of its peers have managed to grind out a gain on the USD, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) has drifted steadily lower since testing the 1.43 area mid-week. The USD is still trading slightly lower on the week, however, adding to last week’s small net loss despite obvious risks to the CAD, Scotiabank’s Chief FX Strate…
The US Dollar (USD) is trading steady to slightly firmer on the session but is heading for its first weekly drop since late November in DXY terms.
The Pound Sterling (GBP) quickly gave back yesterday’s gains made on the better-than expected CPI data and has slipped a bit more today after November GDP disappointed, rising 0.1% M/M, versus 0.2% expected, on weaker industrial activity, Scotiabank’s …
The Euro (EUR) is little changed on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The CAD has eased back after probing the low 1.43 area yesterday, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Japanese Yen (JPY) is firmer again this morning, notching up a 0.5% gain on the US Dollar (USD) behind a Bloomberg report that Bank of Japan (BoJ) officials think it is likely that they will raise the policy rate next week—barring a disruptive star…
The Euro’s (EUR) grind higher has extended above 1.03, barely, in quiet trade, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
UK markets breathed a sigh of relief after this morning’s UK inflation data, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is lagging its commodity peers and trading little changed on the session. Tariff risks remain a constraint on the CAD’s performance, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Japanese Yen (JPY) is leading gains amongst the majors, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is modestly lower for a second day. US PPI came in below consensus expectations yesterday, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Pound Sterling (USD) is down marginally on the session but, like many of its G10 counterparts, the pound has settled into a tight trading range into the end of the week, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Euro (EUR) has settled into a tight trading range around the 1.03 point through the latter part of this week, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Pound Sterling (GBP) fell to its lowest since 2023 before steadying. UK 1OY yields rose 120bps in a handful of disorderly trading days either side of the infamous 2022 UK budget and required the BoE to step in a stabilize the markets, Scotiabank’s …
The Euro (EUR) perked up a little yesterday after finding support in the upper 1.02 region but it is finding the going tough against the USD and marginal gains earlier in the session have reversed, Scotiabank’s Chief FX Strategist Shaun Osborne notes. …
The Canadian Dollar (CAD) is little changed on the session. The immediate focus for local markets is on tomorrow’s labour market update but the data perhaps won’t add too much to short-term FX dynamics, Scotiabank’s Chief FX Strategist Shaun Osborne no…
The US Dollar (USD) is firm but off its early session highs, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Pound Sterling (GBP) plunged more than a cent in response to the Trump tariff headlines, leaving it the worst-performing major currency on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Weak German data (soft November Retail Sales and a sharp, 5.4% plunge in Factory Orders over the November month are pushing the EUR lower, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) was little changed against the generally stronger USD overnight—which is no mean feat considering the amount of attention Canada is getting from the US president-elect, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is tracking higher. Headlines indicating that Trump might cite a national economic emergency as the justification for a new round of broadly applied tariffs is driving the USD higher in early trade, Scotiabank’s Chief FX Strategist …
BNS agrees to transfer its Latin American banking arms to Davivienda for a roughly 20% stake. This aligns with the bank’s efforts to boost efficiency.
Soft demand for a 30-year Gilt auction today helped drive UK rates a little higher overall. The 30Y yield reached the highest since 1998 while 10Y yields touched the highest since 2023, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Preliminary Eurozone CPI rose 0.4% M/M and 2.4% in the year—in line with expectations but up from November’s 2.2%, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The CAD is holding a minor gain on the broadly softer USD.
US Dollar (USD) retains a softer undertone, leaving the DXY trading close to the lows seen around the holiday period, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Euro (EUR) is extending gains in early trade, rising more than 1% on the day, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) perked up notably overnight on news that PM Trudeau may resign this week. Reports suggesting President-elect Trump might moderate plans for a broad application of tariffs have added to gains, Scotiabank’s Chief FX Strategist S…
The US Dollar (USD) is down for a second trading session in a row.
The Euro (EUR) has recovered a little from new cycle lows near 1.0240 made yesterday against the US Dollar (USD) but the rebound has stalled below 1.03 so far on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The CAD is little changed on the session and continues to hold in the trading range established prior to the holiday break, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
After a solid start to the year yesterday, broad dollar gains have been checked back somewhat, leaving the Dollar Index (DXY) in consolidation mode into the weekend, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
KEY and BNS complete the final tranche of equity investment in the former. This transaction will likely drive KeyCorp’s NII in 2025.
The Pound Sterling (GBP) is flat on the session. UK Retail Sales rose a softer than expected 0.2% in November (versus +0.5% forecast), extending a run of disappointing Retail Sales data, Scotiabank’s Chief FX Strategist Shaun Osborne reports.
The Euro (EUR) trades broadly steady in the mid-1.0300s against the US Dollar (USD) on Friday even after President-elect Donald Trump threatened Europe with tariffs “all the way” unless it purchased more US energy products, Scotiabank’s Chief FX Strate…
The Canadian Dollar (CAD) is little changed in overnight trade. Factors driving the CAD lower this week have moderated and the USD remains quite significantly overvalued relative to my short-term equilibrium estimate (1.4280 today), Scotiabank’s Chief …
Markets are ending the week of a bit of a sour note. The USD has been clipped back somewhat in overnight trade as investors ponder a looming US government shutdown.
The Euro (EUR) has has recovered on Thursday about half of the sell-off against the US Dollar (USD) seen after the Federal Reserve’s (Fed) policy decision, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The BoE left its policy rate unchanged at 4.75%, as expected. The Pound Sterling (GBP) has traded well off the earlier session highs to edge back under 1.26 in early trade here, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
The CAD has recovered about half of the post-FOMC drop seen yesterday afternoon.
The Fed delivered a ‘hawkish’ cut yesterday that was a tad more hawkish than the markets were prepared for.
The final Eurozone CPI for November was revised down to 2.2%, from the preliminary 2.3%. Core inflation was left unchanged at 2.7%. The Euro (EUR) is virtually flat on the day and ignored the data as tight range trading extended for another day, Scotia…
There is an uncomfortable mix of internal and external uncertainties facing the Canadian Dollar (CAD) right now. The charts suggest no relief for the CAD, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
UK inflation data reflected the expected pick up in prices in November. The Pound Sterling (GBP) picked up a little support over the course of European trade but Cable is finding it difficult to hold gains through the low 1.27s, Scotiabank’s Chief FX S…
The US Dollar (USD) is narrowly mixed ahead of the outcome of the Fed policy decision later today. DXY gains through 107.15 should trigger another leg up in the index, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
UK labour market data reflected a larger than expected jump in Average Weekly Earnings in October (to 5.2%, from 4.4%) while ex-bonus pay also rose (5.2%, from 4.9%), Scotiabank’s Chief FX Strategist Shaun Osborne notes, Scotiabank’s Chief FX Strategis…
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