This week the scorecard recommends buying the NZD, SEK and EUR while selling the GBP, USD and CHF.
Currently, all the scorecard model's input factors favour a long NZD position. In particular, the interest rate input factor continues to support NZD and thus the scorecard recommends buying NZD this week. Following last week's sell-off in SEK, which according to the model seems overdone, the scorecard recommends buying SEK this week even though most other input factors besides the FX score remain negative on SEK.
The short basket this week roughly consists of three equally weighted positions in the GBP, USD and CHF. While most input factors favour selling the USD and GBP, the negative view on CHF reflects last week's rally versus the USD and the increase in implied the USD/CHF volatility.
Last week's signals resulted in a 0.4% gain. In particular, the short AUD performed well while the long NOK position was expensive.
To Read the Entire Report Please Click on the pdf File Below.
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G10 FX: Long NZD, SEK, EUR Versus Short GBP, USD, CHF
Published 12/17/2013, 02:33 AM
Updated 05/14/2017, 06:45 AM
G10 FX: Long NZD, SEK, EUR Versus Short GBP, USD, CHF
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