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G10 FX Financial Scorecard: Long JPY, CHF, CAD Vs Short SEK, NOK, GBP‏

ByDanske Markets
Published 07/22/2013, 07:54 AM
Updated 05/14/2017, 06:45 AM
USD/SEK
0.26%

This week the scorecard recommends buying JPY, CHF, CAD while selling SEK, NOK, GBP.

JPY was last week's worst performing currency among G10 and last week's sell-off seems overdone according to the model. Hence the scorecard recommends buying JPY this week, even though most other indicators apart from the FX score point in a different direction.

Again this week, the scorecard recommends selling the two Scandinavian currencies. SEK was last week's best performing currency among G10 and last week's rally seems overdone according to the model. The technical input factor and the risk premium indicator also favour being short SEK. Along with the move lower in USD/SEK, NOK also performed well and even though Norwegian interest rates currently perform (higher rates) the scorecard also recommends selling NOK this week.

Last week's signals resulted in a 0.6% loss. Especially the short NOK and SEK positions were expensive while the long AUD and NZD performed well.

Next scorecard signals will be sent out on 29 July.

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

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