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G10 FX Financial Scorecard: Long GBP, USD, EUR Vs Short JPY, AUD, CAD‏

ByDanske Markets
Published 08/12/2013, 04:07 AM
Updated 05/14/2017, 06:45 AM

This week the scorecard recommends buying GBP, USD, EUR while selling JPY, AUD, CAD.

All input factors currently favour a long GBP position. Notably, the technical indicator and the risk premium input factor favour being long GBP. This week's long USD and EUR positions are mainly due to last week's weak performance among currencies in the G10 sphere, whereas most other indicators besides FX score actually point in a different direction.

Being short JPY last week was relatively costly. However, all input factors still favour a short JPY position and thus the scorecard recommends selling JPY again this week. Last week's rally in AUD seems overdone according to the model. Moreover, Australian interest rates continue to underperform (lower rates) among G10, while other input factors point in a different direction. All in all, however, the scorecard recommends selling AUD this week. Finally, the scorecard recommends selling CAD as all input factors with the exception of FX score favour a short position.

Last week's signals resulted in a 0.1% loss. Especially the short JPY position was expensive, while the long AUD and NZD positions performed well.

Next scorecard signals will be sent out on 19 August.

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

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