AUD, CAD: Vulnerable On Chinese Markets Closing This Week - BNPP

With Chinese markets closed for the week for Lunar New Year,  BNP Paribas views that the commodity currencies will re-focus on internal vulnerabilities in Australia and Canada.

"With AUD and CAD short positioning having been cut back considerably over the past week, we think both currencies are vulnerable to a rebuilding of near-term easing expectations.

RBA Governor Stevens testifies in a parliamentary committee at the end of next week, while this past week’s soft reading on Canadian employment could continue to weigh on the CAD in coming days," BNPP argues. 

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