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Feb 14 - 01:24 AM
G10: Signals From Flows, Positioning, & S/T Valuations - BofAML
First appeared on eFXplus on Feb 13 - 03:30 PM

Bank of America Merrill Lynch Research presents the latest signals from flows, positioning and short-term valuations.

"Flows: Bullish EURUSD and USDCAD, bearish USDCHF. Recent outsized CAD flow support is unsustainable and vulnerable to reversal, whereas EUR and CHF flows are beginning to look unsustainably unsupportive.

Positioning: Bullish NZDUSD, USDSEK and USDCHF, neutral all else. Caveat: CFTC readings are very stale due to the US government shutdown. The USDSEK reading should be viewed with more confidence as it is LCBF-based.

Short-term valuation: Neutral all round. Exchange rates remain with the range of values roughly consistent with high-frequency fundamental variables," BofAML notes. 

BofA Merrill Lynch Research/Market Commentary


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