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G10 FX Financial Scorecard: Long AUD, NZD, USD Vs. Short JPY, GBP, CHF‏

ByDanske Markets
Published 07/29/2013, 06:13 AM
Updated 05/14/2017, 06:45 AM

This week the scorecard recommends buying AUD, NZD, USD while selling JPY, GBP, CHF.

Australian interest rates continue to underperform (lower rates) among G10 currencies. However, as all other input factors currently favour a long AUD position, the scorecard recommends buying AUD. The long basket also includes NZD which, in contrast to AUD, is currently well supported by all factors with the exception of FX score. Especially New Zeeland interest rates have performed after the hawkish comments from RBNZ and the scorecard recommends buying NZD despite last week's relative strong performance.

This week's short basket mainly includes JPY as all input factors currently favour being short JPY. Notably, FX scores support a short JPY position as last week's rally seems overdone according to the model. Positioning and technical input factors also contribute to a significantly negative JPY view.

Last week's signals resulted in a 0.7% gain. Especially the long JPY position performed well while the short SEK position was expensive.

Next scorecard signals will be sent out on 5 August.

To Read the Entire Report Please Click on the pdf File Below.


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