Investing.com - Financial Markets Worldwide

NOK And SEK Hint At Imminent Correction

ByDanske Markets
Published 11/26/2012, 06:42 AM
Updated 05/14/2017, 06:45 AM

This week, the scorecard recommends buying CAD, AUD and GBP while selling SEK, NOK and CHF

The long basket are headed weight-wise by the commodity currencies (here: CAD and AUD) as all five factors taken into account by the scorecard point towards a stronger CAD: for AUD, it is mainly the interest rate component that is supportive this week.

The short basket is mainly made up of the Scandies as last week's decent performance for both NOK and SEK hints at an imminent correction according to the scorecard.

Seven consecutive weeks of returns for the scorecard came to a halt last week, notably due to positive weight on JPYT recommended last Monday. Past performance again drags in the direction of a JPY rebound, but this week other currencies are favoured by the scorecard when all indicators are taken into account as discussed above.

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

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