7 May 2015
Short EUR/NOK better than the EUR/USD trade – SG
FXStreet (Barcelona) - Kit Juckes of Societe Generale, sees short GBP/SEK and EUR/NOK as decent trades than the double-guessing EUR/USD.
Key Quotes
“I still prefer sitting in the back row eating popcorn and buying NOK and SEK, than sitting up front double-guessing EUR/USD. I'll be sorely tempted to sell if NFP tomorrow is OK but in the meantime, stick to a view that upward revisions to European growth forecasts combined with ECB policy benefit those at the edges of the Eurozone more than those inside. GBP/SEK and EUR/NOK remain decent shorts while we wait for the world to calm down.”
Key Quotes
“I still prefer sitting in the back row eating popcorn and buying NOK and SEK, than sitting up front double-guessing EUR/USD. I'll be sorely tempted to sell if NFP tomorrow is OK but in the meantime, stick to a view that upward revisions to European growth forecasts combined with ECB policy benefit those at the edges of the Eurozone more than those inside. GBP/SEK and EUR/NOK remain decent shorts while we wait for the world to calm down.”