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G10 FX Financial Scorecard: Long NZD, SEK, CAD Vs Short AUD, USD, JPY‏

ByDanske Markets
Published 08/05/2013, 07:20 AM
Updated 05/14/2017, 06:45 AM
AUD/NZD
-0.01%
New research from Danske Bank Markets

This week the scorecard recommends buying NZD, SEK, CAD while selling AUD, USD, JPY.

AUD and NZD were the two biggest losers among G10 last week. However, while last week's sell-off seems overdone, the model remains short AUD, as all other input factors very strongly favour a short AUD position. On the other hand, it is especially interest rates that are favouring a long NZD position and the scorecard recommends buying NZD again this week. Hence, the model points to further downside for AUD/NZD.

The long basket this week also includes SEK as the FX input and the technical input factors favour being long SEK, while the short basket includes USD and JPY. Notably, FX scores support a short USD position this week after last week's appreciation versus most G10 currencies.

Last week's signals resulted in a 1.6% loss. Especially the long JPY position performed well, while the short AUD and NZD positions were expensive.

Next scorecard signals will be sent out on 12 August.

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

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