Ekonomické zprávy
11.11.2021

Short AUD, long Copper and Oil – Goldman Sachs

FXStreet reports that Goldman Sachs strategists, heading towards 2022, laid out the key themes and top trades to look forward to.

“Divergence in the outlook for monetary policies and risks to China’s expansion are among other key themes.”

“Among the top trade ideas are shorting the Australian dollar versus Canada’s currency. That’s partly on a bullish view on oil and Australia’s exposure to metals prices and downside risks to China’s economy. Australia is also expected to raise interest rates more slowly than Canada.”

“Recommend going long on copper and Brent oil contracts for the end of 2023, as those markets are cyclically tight, with the forwards “nowhere near the necessary incentive level for higher activity.”

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