6 Jun 2013
Flash: Macro Trade Recommendations - JP Morgan
FXstreet.com (London) - JP Morgan gave their opinions in the Macro FX space.
Research teams said to position selectively for further deleveraging of short-term speculative positions and longer-term bond positions following the biggest rise in interest rate volatility in 2-1/2 years and spillover to more unstable equity/FX conditions, but explained to avoid big positions due to payrolls and unattractive entry points. Sell AUD and IDR vs USD. Buy CHF vs EUR and USD. Took profits intra-period on long USD vs CAD, CHF and JPY.
Research teams said to position selectively for further deleveraging of short-term speculative positions and longer-term bond positions following the biggest rise in interest rate volatility in 2-1/2 years and spillover to more unstable equity/FX conditions, but explained to avoid big positions due to payrolls and unattractive entry points. Sell AUD and IDR vs USD. Buy CHF vs EUR and USD. Took profits intra-period on long USD vs CAD, CHF and JPY.