Australian Dollar a Buy Over Remainder of August
- Written by: Gary Howes
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Strategists at NatWest are long on Australian Dollars over the remainder of August.
In an update released mid-month, analysts say:
"For the month of August, our NatWest G10 FX Ranker suggests going long AUD, JPY and short CHF, NOK against USD."
The call is based on the output of an in-house strategy model that aims to give long/short trading signals for G10 currencies for the coming month.
Currencies are ranked based on their relative performance in the prior month against a set of financial and economic variables. Trading strategies are produced to generate optimal returns.
The model is based on thirteen traditional macroeconomic/financial variables and forecasts the spot rates for each currency for the subsequent month.
It has delivered a total return of 5%.
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