What's The FX Trade Amid Falling Oil Prices?

26.06.2017 / 21:05

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Credit Agricole CIB FX Strategy Research argues that the latest oil price drop may have some ‘unintended’ consequences in FX.

"Indeed, we note that the markets are already short CAD and neutral NOK while they are long AUD and NZD.

In terms of next week's data, CACIB notes that next week's inflation data out of the Eurozone and Japan should underpin the ECB and BoJ's cautious outlook but it may not slow down the countdown to QE-taper.

"In all, USD, EUR and JPY could outperform G10 commodity and carry currencies, especially if market sentiment deteriorates from here."

Source: Bloomberg Pro Terminal

Junior Trader Stefan Panteleev

Varchev Traders

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What's The FX Trade Amid Falling Oil Prices?

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