MUFG trade of the week: Sell AUD/CAD

AUD/CAD is trading at 0.9111

MUFG Reserach recommends selling AUD/CAD in its weekly FX pick.

They sell from spot with a target at 0.8850 and a stop at 0.9350.

“We are recommending a long CAD/AUD trade idea to reflect the widening divergence between the BOC and RBA monetary policies. We expect the BOC to announce a further tapering of QE purchases at their next meeting on 27th October and is on track to bring an end to tapering by the end of this year,” MUFG writes.

“In contrast, the RBA continues to reiterate that it has no plans to raise rates in the coming years and will not reassess the pace of E tapering until at least February.”

Invest in yourself. See our forex education hub.

News

Articles You May Like

Gold Technical Analysis – The US PPI saves the day
Dollar Muted Despite Strong PPI, Awaits Reciprocal Tariffs
Gold Price Today: Yellow metal opens at Rs 85,830/10 gm, silver flat at Rs 95,580/kg
Gold Price resumes rally as concerns grow over Trump’s tariff plans

Leave a Reply

Your email address will not be published. Required fields are marked *