Our call last week for AXJ reversal (weakness) worked well. USDSGD traded an intra-week high of 1.4129 wh

GBL: Fade the Move

FX Weekly by Saktiandi Supaat

FX Research

Our call last week for AXJ reversal (weakness) worked well. USDSGD traded an intra-week high of 1.4129 while USDMYR traded high of 4.3525. For next week, we look to fade political optimism (short EUR and GBP) vs. relative stabilization in hard-commodities (long AUD, CAD) as recent sell-off show signs of stabilization. We look for EURAUD, GBPCAD to head lower towards 1.4610, 1.7540 levels, respectively. We also see short term pullback risks for USDJPY, possibly towards 112.90, 112 levels. For ...