Norwegian Krone

In this update to the two Special Reports on FX hedging of global equity portfolios with nine different home currencies, published in 2017, we show that BCA’s proprietary dynamic FX hedging strategies have consistently added value to global equity portfolios. We value quant models as an important input in our decision-making process, but we do not suggest any investor to slavishly follow them, because models cannot capture all the important fundamental changes, as demonstrated in the details of this report.

In this report, we highlight why there are upside risks to Brent crude oil and copper prices going into 2024, with the production side expected to drive deficits in these markets. To take advantage of a potential rally, we suggest basket plays for hedging this outcome.

The euro has weakened sharply since mid-July as US growth continues to outperform that of the Eurozone. Is a new bear market afoot for the common currency?

In this report, we review our FX trade recommendations with suggestions on how to position for the next few months.

The DXY will continue to have near-term upside, as economic growth holds up in the US, while it deteriorates in other parts of the world. Remain constructive on the DXY at current levels, but pivot to a short position on evidence US growth is boosting the rest of the world.

In this short weekly report, we review some of the most common questions clients asked us in the last few weeks.

This report reviews our key calls for major currencies, in light of recent data releases.