USD/CAD Big Trade 02.11.2016 -44

BK USD/CAD Big Trade -- Close at market (now 1.3925) -- Don’t know if this OPEC cut will come through but its bad news for our trade -- we’ll have the opportunity to buy again later lower

Buy USD/CAD at market (1.3969)

Stop at 1.3769

Oil prices continue to fall this morning (down another 3%) and the persistent decline in oil prices is bad news for Canada’s economy especially when combined with the weakness in the labor market, we should be looking at USD/CAD well above 1.40. In contrast, the Australian and New Zealand dollars traded slightly higher versus the greenback following stronger data. Australian consumer confidence rebounded in February while New Zealand credit card spending ticked higher.(edited)


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