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2 Apr 2015
Outlook for FX majors and crosses – SG
FXStreet (Barcelona) - The Societe Generale Team shares the outlook for FX majors, and the USD Index, maintaining a bearish bias on GBP due to the political uncertainty.
Key Quotes
“The risk of falling inflation in Japan and downside growth risks in Canada and Switzerland justify shorts in JPY, CAD and CHF. UK political uncertainty meanwhile sees us stick to a bearish bias on GBP.”
“Technicals see EUR/JPY poised to drift towards 128 and probably even towards the previous low of 126.”
“The Dollar Index daily RSI has bounced from 50%, suggesting a continuation in the rebound towards 99.40. Downside is likely to be confined to the previous high at 95.50.”
“Quantitative signals increase the long dollar position, mainly at the expense of the NZD and AUD.”
“The biggest longs at the moment are the dollar, NZD and NOK. The most sizable shorts are the SEK, AUD and EUR.”
Key Quotes
“The risk of falling inflation in Japan and downside growth risks in Canada and Switzerland justify shorts in JPY, CAD and CHF. UK political uncertainty meanwhile sees us stick to a bearish bias on GBP.”
“Technicals see EUR/JPY poised to drift towards 128 and probably even towards the previous low of 126.”
“The Dollar Index daily RSI has bounced from 50%, suggesting a continuation in the rebound towards 99.40. Downside is likely to be confined to the previous high at 95.50.”
“Quantitative signals increase the long dollar position, mainly at the expense of the NZD and AUD.”
“The biggest longs at the moment are the dollar, NZD and NOK. The most sizable shorts are the SEK, AUD and EUR.”