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Oct 06 - 12:55 PM

G10: Strongest Trade Signals On The Crosses: Long CAD/CHF And Short EUR/CAD - BofA

By eFXdata  —  Oct 06 - 10:45 AM

Bank of America Global Research outlines the latest signals from its FX Scorecard.

"By magnitude of signal, our strongest cross trade is long CADCHF (+9), followed by short EURCAD (-8). Both of these are pro-risk trades. Notably, both are also highly correlated to energy (emphasis: oil) prices (Exhibit 3, Exhibit 4)," BofA notes. 

"From a terms of trade perspective, Canada benefits from higher energy prices due to its status as an energy exporter, whereas economic effects for Europe are negative," BofA adds. 

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Source:
BofA Global Research

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