FXStreet – The Goldman Sachs Research Analyst Alexander Demyanets said that Short in GBP/CAD a Oil Long.
“We currencies, a rise in the G10 raw material: (i) the strength of their domestic economies, (ii) focus of monetary policy, and (iii) on hawkish Inclusion of a recovery in the Oil prices in H2. We predict a larger rise in the NZD and the CAD, AUD and NOK.2
“Historically, the CAD is the G10 currency with the highest Beta to Oil. We see that most of the G10 commodity currencies rose against the EUR, while the Pricing of the market is ahead of the June ECB meeting to be hawkish. Short in the EUR/CAD is our preferred option in the Oil Long.”
** FXStreet News Editorial, FXStreet**