Investing.com - Financial Markets Worldwide

Long SEK, NOK, EUR vs. Short AUD, USD, JPY‏

ByDanske Markets
Published 04/22/2013, 07:42 AM
Updated 05/14/2017, 06:45 AM

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

Last week's sell-off in SEK seems overdone according to the scorecard and with the exception of interest rates, all indicators currently favour a long SEK position. The same goes for NOK and thus the scorecard recommends buying both NOK and SEK this week.

All indicators with the exception of FX scores currently favour a short AUD position and the scorecard recommends selling AUD again this week. USD was the best performing currency in the week from April 12 to 19 and thus the short basket this week also includes USD. Finally, the scorecard recommends selling JPY this week as the indicators of positioning and risk premiums currently favour being short JPY.

Last week's signals resulted in a 0.5% gain. In particular, the short AUD and SEK positions performed well while the long JPY position was expensive.

Next scorecard signals will be sent out April 29. For a thorough introduction to the scorecard, please see FX Strategy - a G10 FX Financial Scorecard (September 29, 2010).

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

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