MACROQUANTSTRATEGY|G10FXMichaelSneyd,CFAAlexJekov,HeadofMacroQuantitative&DerivativesStrategy|KrisGjini,FXStrategist|,MacroQuantStrategist|BenedicteLowe,CrossAssetStrategist|BNPParibasLondonBranchBNPPARIBASSTEER™|GLOBAL17June2019Pleaserefertoimportantinformationattheendofthereport|Allsources:BNPParibas,BloombergEntryDatePositionEntryRateTargetStopLossCloseRateReturn(%)SignalsUpdatedTodayNewSignals17-Jun-19LONGUSDMXN19.148719.258619.0938-0.00ClosedSignalsExistingSignalsRecentlyClosedSignals04-Jun-19LONGUSDILS3.6089--3.5984(05-Jun-19)-0.2905-Jun-19LONGUSDKRW1178.25--1181.40(07-Jun-19)0.2706-Jun-19LONGUSDCLP691.75--689.84(06-Jun-19)-0.2831-May-19LONGAUDUSD0.6916--0.6914(13-Jun-19)-0.0310-Jun-19SHORTUSDIDR14306.00--14359.00(12-Jun-19)-0.37Notes:STEER™signalslongUSDMXN.USDMXNspothadbeenappearingrichversusfairvalueinearlyJune.However,STEERsignalsthesubsequentstrengtheningoftheMXNhasgonetoofarandnowtriggersalongUSDMXNsignal.TherearecurrentlynootherSTEERtradingsignals–mostG10andEMpairsarecurrentlytradingwithintheirfair-valuebands.EURUSDistradingatfairvalue.ThefairvalueformostUSDLATAMpairshasbeenfallinginrecentweeks,asaresultofgoodperformanceinlocalequitiesandimprovingCDSspreads.SeeMARdisclosureshere.USDMXNshorttermvalue(FV=19.3437)EURUSDshorttermvalue(FV=1.1240)BNPParibasSTEER™Model-TradingSignals18.3418.5418.7418.9419.1419.3419.5419.7420-Mar-201920-Apr-201920-May-2019STEERUSDMXN1.101.111.121.131.141.151.161.171.181.1920-Mar-201920-Apr-201920-May-2019STEEREURUSDMACROQUANTSTRATEGY|G10FX17June20192Allsources:BNPParibas,BloombergBNPParibasSTEER™Model–G10Deviationfromshort-termvalue(z-score)CurrencyNZDUSDGBPUSDAUDUSDEURNOKEURUSDEURCHFUSDJPYEURSEKEURGBPUSDCADSTEER0.68221.28610.69499.81931.12401.1223108.0310.51800.87401.3245Spot0.65101.25800.68709.77101.12101.1200108.6010.64200.89101.3410z-score-3.29(-4.86%)-1.81(-2.23%)-1.26(-1.11%)-0.61(-0.49%)-0.26(-0.29%)-0.24(-0.18%)0.61(0.54%)1.05(1.17%)1.20(1.91%)1.48(1.24%)UpperBound0.69661.30940.70409.93731.14261.1344109.4...
