Sell NZD/CAD – Citi trade of the week

With the big US events behind us and the president on holiday, perhaps crosses provide better opportunities. The Reserve Bank of New Zealand meets this week and Canada is seeing oil prices wobble.

Here is their view, courtesy of eFXnews:

Currency investors should consider selling NZD/CAD this week ahead of the RBNZ August policy meeting on Aug 10, advises CitiFX Research in its weekly pick to clients.

Citi recommends selling NZD/CAD* around 0.9363 targeting 0.9150 with a stop at 0.9480. 

Citi weekly trades provide short term guidance on where they see 1-2 week opportunities in G10 FX markets.

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