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G10 FX Financial Scorecard: Long NOK, CAD, USD vs short CHF, JPY, SEK‏

ByDanske Markets
Published 05/27/2013, 07:20 AM
Updated 05/14/2017, 06:45 AM

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

All input factors currently favour a long NOK position, and the scorecard recommends buying NOK this week. The long basket this week also includes CAD and USD, as last week's sell-offs seem overdone according to the model.

The JPY was the best performing currencies in the G10 sphere last week. According to the FX input factor, last week's rally seems overdone. Thus, the scorecard recommends selling JPY this week even though most other input factors point in a different direction. Along with the rising JPY, the CHF also performed well last week and the scorecard also recommends selling CHF this week. Finally, the short basket this week includes the SEK. Notably, Swedish interest rates underperformed among the G10 currencies, as the market has priced in an higher probability of a July rate cut from the Riksbank.

Last week's signals resulted in a 1.25% gain. The long JPY and the short AUD positions performed especially well.

Next scorecard signals will be sent out 3 June.

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


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