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RBC trade of the week: Sell AUD/CAD

RBC added a short AUD/CAD position in its trade of the week portfolio targeting a move towards 0.8600, with a stop at 0.8850. "The bounce in the AUD-crosses over the last two weeks looks ripe to sell as we await key data in China later in the week," RBC notes. "We retain a bias toward USD gains, possibly reinforced this week by month-end flow, which would generally imply CAD outperformance on the G10 crosses," RBC adds.For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day f... Read More

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Posted: Aug 30 2023, 14:57

Author Name: forexlive

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