10 September, AtoZForex.com, Vilnius – Global French bank and financial services company BNP Paribas has shared the latest signals from G10 FX Momentum for traders to acknowledge and benefit. The indicator measures the strength and momentum of a currency’s trend based on price action, equities and rates.
Strongest bullish momentum
The US dollar appears to hold the strongest bulls among the G10, scoring 47 out of 100. However, the trend is slower compared to the 1st of September analysis which indicated 53.
Next in line is Japanese Yen. Lacking not far from the USD at 44. A merely unchanged pressure from the previous week, according to BNP Paribas.
In the third place is Euro. With increasing upward pressure BNPP estimated the strength at 41 out of 100, will the EUR continue to soar into the next week?
Strongest bearish momentum
The major bank has identified Norwegian Krone to be the weakest among the G10 currencies. Scoring -63 out of -100, the bears are definitely in control of the NOK.
Moving on, the Australian Dollar has switched places with the New Zealand Dollar as the second weakest currency, according to the major French bank. The bearish might is indicated at -48.
Not far behind the AUD is the NZD. However, opposite to the Australian Dollar, where the bull count increases, the New Zealand Dollar has managed to take the heard under control. Decreasing the downward pressure to -45 from an approximate of -55 a week ago.
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