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- A busy week for trade ideas.
- Two bullish CNH trades entered and one long CNH trade goes flat.
- Some bearish growth trades were added: short AUD to play China weakness and short EUR FX basket and short Eur banks on overpriced Europe.
- Some new bullish risk trades include short USD/TRY, USD/CLP, USD/TWD.
- Other new trades we added were long palladium on top of our long silver in bullish precious metals basket, and long EUR/CHF.*
- The most popular trade remains long gold followed by short USD.
*Corrected on 27 July 2020 – previously stated incorrectly long silver (vs palladium).
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)