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Forex Flash: Long USD/CHF a smart bet - Societe Generale

According to Sebastien Galy, currency strategist at Societe Generale, long USDCHF "is a good smart bet one can brand as macro hedging" the analyst says.

Sebastien expands: "Long USDCHF is the large risky exposure for foreign banks in Switzerland. Local asset managers seem reluctant to short the CHF vs EUR with its status as the last safe haven. I may not know when EURCHF will overshoot 1.30 before settling down but is my view for the year. A better trade, however, is to combine outright view long USD and CHF as two dislocation trades."

Forex: AUD/USD lower on Chinese data, holds above 1.0200

With Chinese data over the weekend slightly below estimates, AUD/USD opens the week in Asia-Pacific lower, printing fresh 4-day lows at 1.0202, previous weekly open, and -0.32% for the day so far from previous weekly close Friday, following much better than expected US NFP, best in 12 months. Chinese CPI year on year came in higher than anticipated at +3.2% vs +3.0%, but PPI came in in line with previous and lower than expected, in the negative for 12 months in a row, at -1.6%, while industrial production was +9.9% vs 10.4% and retail sales at 12.3% vs 14.5%.
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Chinese data disappoints; inflation above expectations

Chinese data over the weekend was poorer-than-expected overall. Inflation in China for February increased to 1.1% vs 0.8% expected (MoM) , while the yearly rise in prices stood at 3.2% in February vs 3.0% expected.
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