JP Morgan's short AUD/CHF trade recommendation

Author: Eamonn Sheridan | Category: News

JPM citing declining economic growth confidence globally

  • and thus is a good indicator for defensive low-beta longs against high-beta shorts
Fed easing warrants "holding a more balanced set of low-beta currencies beyond just USD". And, on the other side -  JPM single out "the antipodes" 
  • domestic rates are plummeting to historic lows
JPM short 
  • AUD/CHF
  • AUD/JPY
  • NZD/JPY
  • NZD/USD

More:

EUR does well historically during Fed easing cycles
  • but this time ….  We remain skeptical….  Euro area economic confidence continues to ebb
JPM prefer short EUR/USD and EUR/JPY

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