Credit Argicole’s corporate flow model points to euro buying and pound selling for this month-end, with the dollar also to see moderate selling across the board. For the greenback, the strongest sell signal will be versus the aussie according to the model. As such, the firm is using that to stay long in the euro against a weighed basket of dollar and sterling with the intention to hold that through to 30 September.
It’s a bit of a contradiction to what BofA’s model is suggesting here from earlier. So again, just take these release notes as a bit of a pointer more than anything else. They’re not meant to be the bible in approaching month-end trading.
