Outlook For The Week Recommends Buying SEK, NOK, And USD

 | May 21, 2012 02:39AM ET

• This week, the scorecard  recommends  buying  SEK,  NOK and  USD while selling
AUD, CHF and EUR (see suggested weights in portfolio in table below).

• Not much is changed compared to last week. Short AUD/SEK is still the scorecard’s
favored position, driven by a massive undervaluation of the Swedish krona and a
number of negative factors impacting on the Australian dollar. The NOK appears also
attractive while the scorecard prefers to be short the European euro and its satellite,
the Swiss franc.

• After two terrible weeks with massive losses due to SEK overweight, the scorecard
delivered a modest 0.4% profit last week. See performance chart below for details.