Filed Under:
Forex pairs in this Article »
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that this morning sees Apple's falling and PMIs rising.

He begins by highlighting the simplistic view of last nights numbers in which Japanese Trade data slumped while Chinese and New Zealand PMIs rose. Such a view could see you short the Yen against NZD and CNY. He notes that Japan's exports to China have yet to recover, down 15.8% YoY, and even if this is more about politics than competitiveness, it is still an awful performance with Japan's largest trade partner. Juckes comments further, "We have seen disappointment about the BOJ's timidity and we have seen a correction in the yen that was certainly smaller than I wanted it to be, and now we are poised for renewed weakness."
comments powered by Disqus