Short CAD/NOK – Deutsche Bank
Research Team at Deutsche Bank, suggests going short on CAD/NOK pair as
their G10 trade idea of the week for the target of 6.00 while
maintaining a stop of 6.50 and entry level being 6.3350.
“With nothing priced for the Norges on Thursday, there is a risk of a dovish surprise. Beyond that obstacle, NOK should be a better way to play the oil price recovery. Breakevens are lower in Norway making a move towards USD 50bbl more beneficial for investment. Positioning is shorter and Canada is more exposed to slowing US growth.”