EURCAD View

From the FXWW Chatroom: BNP: Long EURCAD: Adding to short commodity-bloc exposure
The recent commodity price recovery should prove unsustainable, according to our strategists.
The AUD has weakened sharply since the Q1 CPI deterioration on 27 April changed market perceptions.
The CAD is likely to follow. We add a long EURCAD recommendation at 1.47, target 1.54 with a stop at 1.4480.

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