Buy USD, CAD, NOK And Sell CHF, JPY, SEK This Wk - G10 Fin Scorecard

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This week the scorecard recommends buying NOK, CAD, USD while selling CHF, JPY, SEK.

All input factors currently favour a long NOK position and the scorecard recommends buying NOK this week. The long basket this week also includes CAD and USD, as last week’s sell-offs seem overdone according to the model. JPY was the best performing currency in the G10 sphere last week and according to the FX input factor last week’s rally seems overdone.

Thus, the scorecard recommends selling JPY this week, even though most other input factors point in a different direction. Along with the rising JPY, CHF also performed well last week and the scorecard also recommends selling CHF this week.

Finally, the short basket this week also includes SEK. Notably, Swedish interest rates underperform among G10 currencies as the market has priced in an higher probability of a July rate cut from the Riksbank.

Last week’s signals resulted in a 1.25% gain. Especially the long JPY and the short AUD positions performed well.

Next scorecard signals will be sent out 3 June.

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