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Jun 18 - 09:55 AM

USD: Still Expecting A 2-3% Recovery N-Term; Should Offer Better Levels To Sell - TD

By eFXdata  —  Jun 18 - 09:00 AM
TD Research discusses the USD outlook and maintains a bullish bias in the near-term and a sell-on-rallies bias over the medium-term.
 
"The USD has started to consolidate a bit, but currencies maintain recent ranges. We continue to expect a 2-3% recovery in the USD in the short-run that should offer better levels to resell for a more profound setback," TD notes. 
 
"We tested a few trading strategies that link these concepts, underscoring the benefits of data surprises and growth forecasts for currency performance. Performance depends on the regime, but growth strategies perform well over time. Marrying the strategies together underscores our immediate bias to fade the recent rallies in NZD and GBP while buying the dips in JPY when moves get extreme," TD adds. 
 
Source:
TD Bank Research/Market Commentary

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