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Sep 22 - 07:55 AM

USD/CAD - Short Gamma And Barriers Can Drive USD/CAD To 1.3000+

By Richard Pace  —  Sep 22 - 06:03 AM
  • USD/CAD option dealers said to be short gamma (options) to the topside

  • Price action in FX options is certainly consistent with that scenario

  • Exotic option barriers also reside 1.2900, 1.2950 and 1.3000

  • Breaking barriers typically produces short gamma, too

  • Short gamma can increase volatility, fuel USD/CAD demand

  • Potential to 1.3024 if barrier defence gives way

  • 1.3024 is 38.2% Fibo retrace of pandemic-era drop from 1.4669-1.2007

  • Options say CAD is the most vulnerable in G10 to hawkish Fed nL1N2QO0IB



For more click on FXBUZ


CAD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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