Trade trade of the week: Sell NZD/CAD
Trade idea from TD
Consider selling the New Zealand dollar against the loonie this week, TD research says in its weekly FX pick.
They recommend selling from spot with a target of 0.8575 and a stop at 0.8950.
For our Trade of the Week, we sell NZD/CAD as NZD remains the most expensive in the G10," they write.
"Risk markets have a little less pep in their step this week, reflecting some shifts in the short-run narrative... The narrative shift also reflects rising concerns of a CV-19 second wave."