www.varchev.com

CAD, NOK, RUB: Risk-Reward Balance Not Yet Favorable For Building Longs – MUFG

MUFG Research discusses its trading bias on oil-based currencies.

“The oil-related currencies of the currencies of the NOK (-4.1% vs USD) and RUB (- 3.5%) have been two of the worst performing currencies this month. In contrast, the CAD (-0.6%) has proven more resilient as it has declined more modestly. The underperformance of oil-related currencies has coincided with a correction lower for the price of oil,” MUFG notes. 

“The recent sell off has made oil-related currencies of CAD, NOK and RUB more attractively valued. However, we do not believe that the risk-reward balance is favourable yet for building longs. The sell off for oil currencies could yet extend further if COVID fears continue to intensify and OPEC+ does not slow production,” MUFG adds. 


 Head of Trading Dimitar Kalapov

Login to comment

* Rough, sarcastic and ironic language is not allowed. For such Admins Delete without notice.

Leave a Reply

Comments:

Leave a comment

Varchev Absolute Trader

борсова платформа

  • Търгувай над 3000 финансови инструмента: Crypto, Форекс, Акции, Индекси, Суровини, ETF-и
  • Използвай платформа с директно изпращане ордерите на борсите
  • Best Trading Platform - "Online Personal Wealth Awards" EU награждава Varchev Absolute Trader
  • Cloud base платформа - твоят трейдинг сетъп на всяко устройство
  • Traders Talk - чуй какво движи пазарите в реално време
  • Market Sentiment - търгувай с настроенията на инвестиционите банки
  • Top movers - най-горещите трейдове във всеки един момент
  • Stocks scanner - филтрирай най-подходящите за твоя трейдинг стил пазарни инструменти
  • Heat map - Търгувай в посоката на големите играчи


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance
chat with dealer
CALL NOW