In the Currency Strength table, the GBP was the strongest currency while the JPY was the weakest. There were some significant changes last month with the AUD and NZD gaining 3 points while the CHF lost 3 points.
On a month to month basis the GBP and CAD showed a very good performance while the USD and JPY showed a very weak performance. When looking at the development at the end of last month, the GBP and CAD continued to perform very well and the EUR and AUD showed a good performance too.
On the other hand, the USD and JPY remained weak and so did the CHF.
Based on this and the analysis of this article it seems that going long with the GBP or CAD and to a lesser extent with the EUR or AUD may offer the best opportunities. For going short the JPY offers a good opportunity. The USD is a Strong currency and for that reason, it seems not the best one to go short with even though it showed a weak performance last month. The CHF however, seems a good currency to go short with based on the Currency Score and weak performance of last month.
12 Months Currency Score Strength
The 12 Months Currency Strength and the 12 Months Average are provided here below.
Average 12 M. Score
When looking at the Average 12 M. Score we can see the currencies grouped together according to their classification.
There may be some doubt and in that case, it could be a currency that will change its classification in the coming months. There are no such currencies at the moment.
Classification review
This month we take a look at the Classification changes. As can be seen, the GBP showed a very good performance in the last 4 months and is currently the strongest currency. The AUD was a Neutral currency and is now a Strong Currency. However, the recovery seems fragile with only one good month lately with a Score of just 5. Based on the Avg. 12 M. it fits best in the group of Strong currencies but it is the weakest one of all the Strong currencies.
