The Australian Dollar and the Canadian Dollar are both seen as “commodity currencies†but they may differ quite a bit. What’s next for the AUD/CAD cross?
Here is their view, courtesy of eFXdata:
Societe Generale Research discusses some of its key trading strategies in G10 and still points to attractive short exposure in short AUD/CAD.
“With Brent near USD 85 p/b, CAD and NOK will remain favoured currencies for now, and oil importers are soft (JPY, INR, TRY among the losers, TRY hit by higher CPI inflation too).
China is still off, but the Asian equity mood is nervous, and short China-proxies (AUD and NZD in G10) remains a core theme for now,†SocGen argues.
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