First appeared on eFXplus on Feb 13 - 08:24 AM
Societe Generale Research discusses its latest tactical views on G10 FX market.
"EUR/JPY shorts aren't going to work, but EUR/AUD shorts are working and we like being long NOK and CAD, against EUR, USD or GBP here. NOK/SEK longs being squeezed could delay a EUR/NOK fall, but if the wider theme is of some central banks still looking to hike rates, then the Norges Bank is a favourite to remain in that camp," SocGen notes.
"Sterling has received a tiny lift from reports of an overheard conversation in a Brussels bar at which the UK's chief Brexit negotiator suggested the Prime Minister is running the clock down to force Brexiteer rebels to accept either an extension in negotiations , or her unpopular deal. Brussels is said to be preparing last-minute compromises to sweeten the May deal and both sides are trying to make a ‘no-deal' exit as unlikely as possible," SocGen adds.
Société Générale Research/Market Commentary