The Canadian dollar is recovering thanks to a recovery in oil prices. What’s next? Here is their view, courtesy of eFXnews: Nomura FX Strategy Research notes that the CAD sentiment has turned decidedly negative recently a plethora of factors, with particularly a heightened focus on the housing market. In that regard, Nomura continues to view the developments in Home Capital Group (see here) as not being indicative of the broader market. “While there continue to be risks, expectations that the broader market is at a tipping point appear overblown,” Nomura argues. “When combined with the firming outlook for oil prices and stretched negative market sentiment, we see attractive risk-reward in positioning for a USD/CAD retracement via downside option structures. We enter a USD/CAD 2m 1.34/1.31 put spread,” Nomura recommends. USD/CAD is trading circa 1.3614 as of writing. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next EUR/USD at 1.11 – can it continue higher? Yohay Elam 6 years The Canadian dollar is recovering thanks to a recovery in oil prices. What's next? Here is their view, courtesy of eFXnews: Nomura FX Strategy Research notes that the CAD sentiment has turned decidedly negative recently a plethora of factors, with particularly a heightened focus on the housing market. In that regard, Nomura continues to view the developments in Home Capital Group (see here) as not being indicative of the broader market. "While there continue to be risks, expectations that the broader market is at a tipping point appear overblown," Nomura argues. "When combined with the firming outlook for oil prices… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
