The following are the latest signals from BNP Paribas FX Momentum which measures the strength of a currency’s trend based on FX price action, rates and equities.
“The CAD’s bearish trend has strengthened further over the week, while the USD’s bullish trend remains strong. The highest conviction momentum signal is bullish USDCAD.
EUR’s bearish trend has strengthened further to -26, the strongest EUR bearish signal since Nov 2014.
FX markets appear to be in a trending regime – our momentum strategy has delivered a Sharpe ratio of 2.8 over the past month,” BNPP clarifies.
This article originally appeared at eFXnews.