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Oct 28 - 12:55 PM

Credit Agricole: Neutral Month-End Flow Expected, Strongest Signal for Short USD/SEK

By eFXdata  —  Oct 28 - 11:30 AM

Synopsis:

Credit Agricole’s month-end fixing model indicates a neutral rebalancing flow for October, with the strongest signal favoring a short position on USD/SEK. Mixed global equity performance and broad USD strength suggest balanced flows across most currency pairs.

Key Points:

  • Global equity markets were mixed in October, with the USD showing broad outperformance.
  • Credit Agricole’s model suggests neutral portfolio-rebalancing flows across FX at month-end.
  • The most prominent signal is a short USD/SEK position, aligning with broader market adjustments in FX performance and equity market moves.

Conclusion:

October’s mixed equity market and strong USD performance point to a balanced rebalancing flow, with Credit Agricole identifying USD/SEK as the key pair for a potential sell signal. This setup aligns with expected neutral flows across major currency pairs.

Source:
Crédit Agricole Research/Market Commentary

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