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G10 FX Financial Scorecard: Long JPY, NOK, NZD vs short USD, AUD, CHF‏

ByDanske Markets
Published 05/20/2013, 07:26 AM
Updated 05/14/2017, 06:45 AM

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

All input factors with the exception of FX scores currently favour long JPY and NOK positions, and thus the scorecard recommends buying JPY and NOK this week. Last week's sell-off in NZD seems overdone according to the model and even though most input factors point in another direction, the scorecard recommends a long NZD position this week.

USD was the best performing currency in the G10 sphere last week and, according to the FX input factor, last week's rally seems overdone. Thus, the scorecard recommends selling USD this week even though all other input factors actually favour a long USD position. The same holds for NOK which was last week's second best performing currency and thus the scorecard also recommends selling NOK.

Last week's signals resulted in a 0.4% gain. In particular, the short AUD position performed well while the long JPY position was expensive.

Next scorecard signals will be sent out on May 27.

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

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