Take Profit On USD/CAD Longs But Keep The Bearish CAD Bias

Deutsche Bank is taking profits on USD/CAD long positions while maintaining a bearish CAD bias due to persistent weakness in Canadian hard data. They anticipate a potential consolidation around 1.40 for USD/CAD.

Key Takeaways

• 1.The firm is taking profits on USD/CAD long positions (+3.5%) while maintaining a bearish outlook on the Canadian Dollar (CAD).
• 2.Economic data in Canada remains weak, with flat business capex and sub-trend GDP growth, though business surveys show slight improvement.

Table of Contents

• Take profit on USD/CAD longs, but keep the bearish CAD bias
• Appendix 1
• Analyst Certification
• Important Disclosures
• Additional Information

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial