Search ForexCrunch

Where are commodity currencies going? And the euro?

Here is their view, courtesy of eFXdata:

Societe Generale Cross Asset Strategy Research notes that AUD and CAD looks cheap , while EUR/USD continues to hold its recent range in the near-term.

“As USD/CNY edges up a little further, with no sign of interest from the authorities to prevent that from happening at the moment,  there’s also little or no short-term encouragement to buy China-sensitive currencies; which these days, includes AUD, NZD, CAD, and JPY as well as Asian EMFX. AUD and CAD look cheap.

The record sounds a bit broken. It makes for a market where the dollar looks well-supported across the board, so do most equity markets, while longer-dated bond yield meander,” SocGen adds.

For lots  more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting  Forex Crunch.