UBS likes selling upside in USDCAD and EURNOK ...Middle East

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UBS likes selling upside in USDCAD and EURNOK

USDCAD (bearish bias):

Expect a move lower from ~1.3775 in both near and longer term. Expression: Prefer selling upside risks above 1.39 Horizon: ~1 month. Catalyst: Next week’s Canada CPI where a stronger print would likely support CAD and weigh on USDCAD.

EURNOK (bearish bias):

    Context: Pair rose after Norges Bank’s surprise June rate cut. Up July meeting sounded more neutral. View: Expect EURNOK to drift lower toward forecasts in the coming months. Expression: Prefer selling upside above 12.0 over a 1-month horizon. This article was written by Arno V Venter at investinglive.com.

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