This week, the scorecard recommends buying AUD, CAD and JPY while selling EUR, NOK and NZD.
• Again this week, the scorecard favours the Australian dollar due to the recent rise in relative rates but also because last weeks’ sell-off cannot be fully justified by other market developments. The scorecard has recommended to be long AUD in whole August. The Canadian dollar seems also attractive according to all input factors.
• The euro appears to be somewhat too strong when comparing with short-term fundamentals and we recommend a short position. The Norwegian krone is not attractive due to the latest drop in relative rates which hasn’t been reflected in the spot rate yet.
• Last weeks’ signals resulted in a flat performance. FX movements were modest.
Please read the attached PDF file for full article.
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G10 FX Financial Scorecard: August 20, 2012
Published 08/20/2012, 07:57 AM
Updated 05/14/2017, 06:45 AM
G10 FX Financial Scorecard: August 20, 2012
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