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• Asia manufacturing has seen the best of times

  Date: 1 June 2010
  Author: Anubhuti Sahay, David Semmens, Delphine Arrighi, Edward Lee Wee Kok
  Region: Global Overview
  Categories: Fixed Income
  

  ...authorities consider new restrictions on banks’ FX forward positions • Calendar: RBA and BoC monetary policy meetings; ISM/PMI data from US, Europe, China

• Perception vs. reality

  Date: 14 July 2009
  Author: Alvin Liew, Brian Verlaan, Callum Henderson, David Mann
  Region: Global Overview
  

  ...Better US earnings may see bearish correction in USTs; CAD higher on BoC survey

• Buy AUD-CAD

  Date: 3 August 2009
  Author: Callum Henderson
  Region: South East Asia, Americas
  Categories: Foreign Exchange
  

  ...AUD-CAD going forward Market is looking for RBA hikes in 2010; BoC has said it is on hold until June 2010 AUD-CAD technicals...

• FX Daily - Risk Appetite Update

  Date: 20 January 2009
  Author: David Mann, Manik Narain, Priyanka Chakravarty, Robert Minikin
  Region: Global Overview
  Categories: Foreign Exchange
  

  ...as SGD, TWD and MYR Calendar: German ZEW survey, UK CPI and BoC interest rate decision

• A Unified Gesture

  Date: 9 October 2008
  Author: Callum Henderson, David Mann, Mike Moran, Robert Minikin
  Region: Global Overview
  

  ...the actions making no changes of its own, the Bank of Canada (BoC) cut 50bps to 2.5%, the Swiss National Bank (SNB) cut the...

• CAD raised to Overweight from Neutral*

  Date: 14 July 2009
  Author: Callum Henderson
  Region: Americas
  Categories: Foreign Exchange
  

  • We are raising our short-term FX rating on the CAD to Overweight from Neutral • Cyclical negatives for the CAD have abated • CAD is now better valued, which leads to renewed capital inflows • We are maintaining our medium-term FX rating on the CAD at Overweight • We provide CAD FX strategy for leveraged and real money funds, and corporates

• FX strategy notes

  Date: 21 October 2009
  Author: Brandon Loe, Callum Henderson, Danny Suwanapruti, Douglas Smith
  Region: Americas, South East Asia, China, Europe
  Categories: Fixed Income, Foreign Exchange
  

  • FX markets are consolidating, but fundamentals and flows remain positive for EM • We remain bearish on USD into December as the global economy recovers • BRL and CAD in focus after Brazilian deeds and Canadian words

• CAD raised to Neutral from Underweight*

  Date: 30 April 2009
  Author: Callum Henderson
  Region: Americas
  Categories: Foreign Exchange
  

  We are raising our short-term FX rating on the CAD to Neutral from Underweight Cyclical negatives for the CAD are gradually lessening CAD is now better valued, which should reduce capital outflows We are raising our medium-term FX rating on the CAD to Overweight from Neutral We provide CAD FX strategy for leveraged and real money funds, and corporates

• China continues to lead the recovery

  Date: 20 October 2009
  Author: Brandon Loe, Callum Henderson, Danny Suwanapruti, Delphine Arrighi
  Region: South East Asia, Americas, Middle East & North Africa, North East Asia, Europe
  Categories: Fixed Income, Foreign Exchange
  

  • China GDP growth likely rebounded to 9% in Q3, driven by strong domestic demand • But China will cap CNY appreciation vs. USD until exports materially improve • We expect Brazil’s tax on capital inflows to have only a knee-jerk impact on BRL

• Asian currencies set for Q4 rally

  Date: 8 September 2009
  Author: Callum Henderson, Delphine Arrighi, Edward Lee Wee Kok, Khalil Belhimeur
  Region: South East Asia, Americas, India, Africa, North East Asia
  Categories: Fixed Income, Foreign Exchange
  

  • Seasonal analysis supports a Q4 rally in Asian currencies • Investors are now overly bearish, just as they were overly bullish in May • Commodity currencies are rebounding; Asian export contraction slowing