FX Trades To Play As Markets Are Back In Party Mood - SocGen

FX Trades To Play As Markets Are Back In Party Mood - SocGen

19 April 2016, 18:00
Vasilii Apostolidi
0
15

The Doha non-agreement is forgotten and probably, within the oil producers’ club, forgiven...The oil market’s willingness to get back to business as usual has been greeted by a loud cry of ‘Party On, Dudes’ in equity markets

I’m itching to be long USD/JPY in this climate, needing only a little help from higher Treasury yields to unlock the door. But I’ve been scratched by this trade and confidence is low. So I’ll watch for now. EUR/JPY bouncing would really help, but that probably requires EUR/USD to look a little less sprightly.

After yesterday’s reverses, the currencies we like are in better shape today. Along with short in SGD/INR, we still like shorts in EUR/RUB, in GBP/NOK and longs in AUD/NZD. Short USD/CAD has more room to go too.

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