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Strongest Seasonal FX Patterns In March – ANZ

Every month has its own tendency, with patterns often repeating themselves. What can we expect from March? Here are the views from ANZ:

Here is their view, courtesy of eFXnews:

While short USD/CAD and long USD/JPY tend to perform well during the month of March, they are not attractive seasonal plays from a risk/reward perspective, notes Australia and New Zealand Banking Group (ANZ).

Figure 1 shows how G10 and Asian currencies have performed during the month of March over the 2000- 15 period

“Among the G10 currencies, USD/CAD has the best directional move with declines in 11 out of the last 16 years. But the average spot move is marginal at -0.1%.

USD/JPY has the best overall seasonal pattern, gaining in 10 out of the last 16 years for an average spot gain of 0.6%.However, the percentage moves during years when it goes against the seasonal pattern is larger than when it conforms to it, which does not make it an attractive seasonal play from a risk/reward perspective,” ANZ clarifies.

Currency spot movements during March

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.