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4 May 2015
Key FX trades for the week – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, gives the key FX trades for near-term traders, suggesting to short AUD/USD and GBP.
Key Quotes
“Our base case is that near‐term USD weakness continues; however a significant part of this shift has already occurred, leaving most currencies likely somewhat range bound.”
“Accordingly for near‐term traders interesting trades this week include: short GBP into the election risk; and short AUDCAD into the RBA risk and beyond.”
“In addition NOK is vulnerable to testing higher if oil prices recover further and with a Norges Bank meeting where we do not expect further policy action.”
Key Quotes
“Our base case is that near‐term USD weakness continues; however a significant part of this shift has already occurred, leaving most currencies likely somewhat range bound.”
“Accordingly for near‐term traders interesting trades this week include: short GBP into the election risk; and short AUDCAD into the RBA risk and beyond.”
“In addition NOK is vulnerable to testing higher if oil prices recover further and with a Norges Bank meeting where we do not expect further policy action.”