Global Markets
EURUSD: Jackson Hole Meeting
GBP: Powder still left in the near term
The race of the unemployment rates – Will US or UK win the unemployment race? And the long-term implications for the Cable.
BRL: 4-year low
Scandi Focus
NOK: Too weak – Upside potential for the interest rate differential and downside potential for EURNOK.
SEK: Undervalued – The Riksbank holds the same view as Nordea – The SEK is undervalued.
Quant of the week
Fair Value Framework: Short EURUSD!
The framework is close to signalling a short EURUSD position (targeting 1.29), while it remains biased towards stronger commodity currencies versus the USD.
Read the full report: FX Strategy
Nordea