Investing.com - Financial Markets Worldwide

Long JPY, GBP, USD Versus Short AUD, SEK, NZD‏

ByDanske Markets
Published 05/06/2013, 06:21 AM
Updated 05/14/2017, 06:45 AM

This week the scorecard recommends buying JPY, GBP, USD and selling AUD, SEK, NZD.

Last week's JPY sell-off seems overdone according to the model, and the scorecard recommends buying JPY again this week. This week's long basket includes the USD, which was the second worst performing currency in the week ending Friday, May 2. Technical and positioning input factors currently favour a long GBP position, hence the currency is included in this week's long basket.

For the fourth consecutive week, the scorecard is short both AUD and NZD. The interest rate and positioning input factors weigh on AUD, while all input factors favour a short NZD position. The model also recommends selling SEK this week, after a more than 1% gain versus the USD last week.

Last week's signals resulted in a 0.15% loss. The long JPY position was especially expensive, while the long CHF and the short AUD positions performed well.

Next scorecard signals are due for release on May 13.

G10 FX financial scorecard
To Read the Entire Report Please Click on the pdf File Below.

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