This week, the scorecard recommends buying JPY, CAD, CHF and selling EUR, SEK, NOK.
Last week's sell-off in JPY seems overdone according to the scorecard, and the model recommends a long JPY position. Both technical indicators and especially the positioning input factor currently favour a long position for the JPY. The CAD is currently supported by the risk premium and technical indicators, together with last week's decline versus the dollar these add up to a high score. Hence, the scorecard also recommends long CAD.
The short basket this week mainly consists of the euro and the two Scandinavian currencies, SEK and NOK. All input factors, with the exception of risk premium, favour a short EUR position, while the model recommends selling the Scandies due to last week's strong SEK performance, and as Norwegian interest rates are currently underperforming among G10 currencies.
Last week's signals resulted in a 1.1% gain. The long SEK and the short GBP positions performed well, and together the two positions made up last week's gain.
Next scorecard signals will be sent out on February 25.
To Read the Entire Report Please Click on the pdf File Below.
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G10 FX Financial Scorecard
Published 02/19/2013, 05:18 AM
Updated 05/14/2017, 06:45 AM
G10 FX Financial Scorecard
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