Morgan Stanley Recommends Long USD/CAD Amid Recession Fears 📈🇺🇸🇨🇦

Morgan Stanley continues to favor long USD/CAD positions, expecting the rising market-implied probability of a US recession to dampen risk demand and boost safe haven flows. They target a move towards 1.3850.

Abundant Oil Supply and Limited Upside for China's Demand to Pressure CAD 🛢️🇨🇦"

More abundant oil supply from Russia and reduced upside risk to China's demand are expected to put pressure on Brent crude prices and the Canadian Dollar (CAD), according to Morgan Stanley.