Here a new report from HSBC’s global research team.
I like this report. Its not a technical report but it is a very thought provoking report. They nicely and properly include the bullion within their global fx view.
Contrary to what Ben thought Gold is a currency class all by it self which HSBC appear to appreciate.
Here the report. The comments re the GBP are a nice counter balance to the Nordea report from earlier.
Where as a month or two ago there was a broad market consensus on the pairs there is total divergent views at present which leads me to believe a excellent trending (and trading) fx market will emerge shortly from this confusion. We may get some distribution in the pairs for a while but when the trend emerges it will be profitable to be involved in it. Vantage point software may be a decent lead on establishing these new trends (as one method).
All the best
Rich