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G10 FX Scorecard:Long EUR, SEK, USD Vs Short JPY, AUD, NOK‏

ByDanske Markets
Published 06/10/2013, 08:43 AM
Updated 05/14/2017, 06:45 AM

This week, the scorecard recommends buying EUR, SEK and USD while selling JPY, AUD and NOK.

All input factors besides FX currently favour a long EUR position, and the scorecard recommends buying EUR this week. European interest rates are currently outperforming G10 currencies (higher interest rates) after last week's increase in rates in wake of the ECB meeting.

Last week's JPY rally seems overdone according to the model, and the scorecard recommends selling JPY this week. Besides the FX score, the input factors from risk premium, interest rates and technical inputs also favour a short JPY position. Despite a significant sell-off last week, the short basket includes AUD again this week as all input factors with the exception of FX score favour being short AUD.

Last week's signals resulted in a 0.6% loss. In particular, the long NZD and the short GBP and CHF positions were expensive while the short AUD performed well.

Next scorecard signals will be sent out on June 17.

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

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