This week the scorecard recommends buying the AUD, NZD and GBP while selling the CAD, USD and EUR.
Again this week, the Scorecard recommends buying the AUD and NZD. The AUD gained nearly 0.5% against the US dollar last week, but while the mode's FX signal indicates that last week's rally is overdone, all other input factors remain very positive on the AUD. This week's long NZD position is mainly due to last week's sell-off where the NZD lost more than 0.7% against the US dollar. However, New Zealand interest currently outperform (higher rates) according to the model, and thus interest rate input factor also favour being long the NZD.
Following last week's rally in the CAD, the short basket again this week, mainly includes the CAD. However, the technical input factors also has a very constructive view on CAD this week.
Last week's signals resulted in a 0.4% loss. Especially the long AUD position performed well, while the short NZD and CAD positions were expensive.
Next scorecard signals will be sent out on 14 April.
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