BNP Paribas: idea about trading USD
Analysts at BNP Paribas expect that next week’s data from the US (NFP, ISM PMI and housing data) will disappoint investors. In their view, stretched USD longs will be vulnerable.
If this proves to be the case, BNPP advises its clients to use the subsequent USD dips to enter into fresh long positions against GBP, JPY, and CHF.
The bank has the following targets for the year-end: GBP/USD at $1.43, USD/JPY at 108, and USD/CHF at 0.99.