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Apr 06 - 09:55 AM

CAD: Scope For Unwinding Of CAD Longs On Asymmetric Risks For Data Over Next Few weeks - Citi

By eFXdata  —  Apr 06 - 08:30 AM

Citi sees a scope for CAD weakness over coming few weeks.

"We see the positive Canada story as fairly priced with an April BoC taper, which gives way to asymmetric risks for data over the next few weeks (jobs report, Q1 BOS, CPI, and the BoC)," Citi notes. 

"While an April taper seems a done deal, weaker data over the next few weeks should give rise to a dovish taper narrative which may trigger an unwinding of long CAD positions," Citi adds. 

Source:
Citi Research/Market Commentary

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