巴黎银行-全球-外汇策略-外汇驱动力-20171003-bnp paribas-fx momentum

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1、Thisdocumenthasbeenproducedby:ThestrongesttrendsinG10FXcurrentlyarebullishSEKandBNPParibasLondonBranchbearishNZDandAUD.ForSEK,boththeratesandFXcomponentssendverybullishsignalsforthecurrency.NatalieRickardOverallEURandUSDmomentumremainslight,butthein

2、dividualFXStrategistFXcomponentsforEURandtheUSDcontinuetoshowstrongMichaelSneydbullishEURFXmomentumandbearishUSDFXmomentum.GlobalHeadofFXStrategy&GBPmomentumremainsonlyslightlybullishthisweek.AlthoughCross-AssetStrategistbothGBPFXandratesmomentumhast

3、urnedbullish,GBPequitymomentumremainsbearish.Chart1:SEKratesandFXmomentumverybullishChart2:NZDandAUDmomentumbearishChart3:USDFXmomentumremainsbearishChart4:GBPmomentumonlyslightlybullishAllchartsources:Macrobond,BNPParibasAllchartsources:Macrobond,BNP

4、ParibasInCharts2and3,eachcomponentscorevariesbetween+/-33.3.InChart4,theoverallscoreisasumofthethreecomponentsandvariesbetween+/-100.BNPParibasFXmomentum(scaleof-100to100)100Bullishmomentum03-Oct-201726-Sep-2017445023171080-1-5-7-50-33-54-100Bearishmo

5、mentumSEKCADCHFEURGBPJPYNOKUSDAUDNZDSource:BNPParibasPleaserefertoimportantinformationattheendofthereportwww.GlobalMarkets.bnpparibas.comBNPParibasFXmomentumportfolioreturns*Source:Macrobond,BNPParibas*PortfolioofequallyweightedbasketsofeachG10currenc

6、ywithpositionsizesdeterminedbythemomentumscoresand10%voltarget.Indexedto1Jan2010Three-yearplotofG10currencymomentumscoresUSDoverallmomentumGBPoverallmomentumEURoverallmomentumJPYoverallmomentumAUDoverallmomentumCADoverallmomentumAllchartsources:Macrob

7、ond,BNPParibasAllchartsources:Macrobond,BNPParibas03October20172FXQuantInsightwww.GlobalMarkets.bnpparibas.comNZDoverallmomentumCHFoverallmomentumNOKoverallmomentumSEKoverallmomentumAllchartsources:Macrobond,BNPParibasAllchartsources:Macrobond,BNPPari

8、basBriefintroductiontoBNPParibasFXMomentumBNPParibasFXMomentummeasuresthestrengthofacurrency’sbullishorbearishtrend,providingascoreforeachcurrencybetween+100and-100.Thelargerthescoreforacurrency,thestrongeritstrendappearstobe.Whenanexchangerat