Flash: AUD and CAD remain vulnerable – Societe Generale
FXstreet.com (Barcelona) – Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that AUD and CAD are both going to remain vulnerable, with ugly technical pictures matched by commodity price sensitivity and in the cause of the AUD, a central bank that is probably quietly cheering.
“AUD/USD now targets the August low at 0.8930, while I expect USD/CAD to break 1.06. But I’m surprised the FX market hasn’t yet differentiated more between winners and losers from this deal.”
“Turkey looks like a big short-term winner but the lira is unmoved. If USD/TRY breaks back below 2 (which …read more