UBS likes promoting upside in USDCAD and EURNOK
USDCAD (bearish bias):
- Anticipate a transfer decrease from ~1.3775 in each close to and long run.
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Expression: Desire promoting upside dangers above 1.39
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Horizon: ~1 month.
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Catalyst: Subsequent week’s Canada CPI the place a stronger print would probably help CAD and weigh on USDCAD.
EURNOK (bearish bias):
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Context: Pair rose after Norges Financial institution’s shock June fee reduce.
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Replace: July assembly sounded extra impartial.
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View: Anticipate EURNOK to float decrease towards forecasts within the coming months.
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Expression: Desire promoting upside above 12.zero over a 1-month horizon.
This text was written by Arno V Venter at investinglive.com.
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