Currency investors should consider buying EUR/CAD this week, advises Credit Suisse in its weekly FX pick to clients.
Rationale: "Our expectations for broadly weak leading indicators this week could weigh on the recent recovery in risk sentiment, which would benefit funding currencies like the EUR and would add to risks that the rebound in oil prices may now start to correct lower," CS argues.
Risk: "Risks to the trade could be if further expectations for an output cut continue to fuel oil prices, however we believe markets will now start to weigh the extent of the oil move to facts," CS adds.
EUR/CAD is currently trading at 1.5380.
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