Here is a BOC trade idea

From SocGen:

I'm working on a Bank of Canada preview for tomorrow's decision. In the meantime, here is what Societe General has to say, via eFX Plus.

A BOC rate cut this week would provide an opportunity to go short USD/CAD at good levels near or at 1.46, for a trade back to 1.40, advises SocGen.

"A more relative value trade on CAD would be to sell NZD/CAD near or at 0.95. Short NZD/CAD is also a medium-term trade that we have recommended for this year," SocGen adds.