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.
Key Quotes
“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.”
