MNI China Daily Summary: Monday, May 13

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GS Recommend Short EUR/CAD (from late Friday)

CANADA
Homepagemarkets-real-timeBulletMarketsForeign Exchange BulletsGoldman Sachs Market News
  • “Better global growth, especially ex. US growth, has supported risk markets and pro-cyclical currencies. This includes CAD, which seems well positioned for selective longs”
  • “Canada’s CPI report next week could present some idiosyncratic risk to a short EUR/CAD view, yet we and consensus are looking for a firmer report versus last month. Altogether, we think the backdrop presents a good opportunity to go long CAD versus EUR, especially at these entry levels.”
  • “We recommend going short EUR/CAD with a target of 1.44 and a stop of 1.49, for a potential return of 2.4%.”
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  • “Better global growth, especially ex. US growth, has supported risk markets and pro-cyclical currencies. This includes CAD, which seems well positioned for selective longs”
  • “Canada’s CPI report next week could present some idiosyncratic risk to a short EUR/CAD view, yet we and consensus are looking for a firmer report versus last month. Altogether, we think the backdrop presents a good opportunity to go long CAD versus EUR, especially at these entry levels.”
  • “We recommend going short EUR/CAD with a target of 1.44 and a stop of 1.49, for a potential return of 2.4%.”