SocGen likes long CAD better than long AUD Or NZD
Societe Generale Research discusses its tactical views on CAD, AUD, and NZD.
"The overnight news is that the RBA is on hold for the foreseeable future and while there is still an easing bias in place, the data will have to deteriorate to justify the next cut," SocGen notes.
"Still rather be long CAD than either AUD or NZD, but AUD/USD is still 20% below its's post-GFC average, and it's only there because of the Chinese economy's woes and the yuan's weakness. Take those away temporarily and AUD/USD can rally further," SocGen notes.
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