Saxo Group Videos

#SaxoStrats - Short-dated call option on USDCAD

In this #SaxoStrat, Head of FX Strategy, John Hardy, is looking at USDCAD because of forthcoming event risks this week affecting both Canada and the United States. This Wednesday sees a Bank of Canada meeting which could be critical for the Canadian dollar, says Hardy.

On Friday there's the Canadian jobs' report out as well as the the US nonfarm payrolls. This Wednesday evening, chair of the US Federal Reserve, Janet Yellen, is speaking ahead of the December 16th Federal Open Market Committee (FOMC) meeting.

John says USDCAD needs to 'resolve to either the upside or downside'. So he is looking at a short-dated USDCAD call option with a Monday expiry. One of the reasons for the Monday expiry is Friday's OPEC meeting which could affect the Canadian dollar in particular. There's also the fallout from the US NFPs.

And you can read more from John about this #SaxoStrat here.

Strike: 1.3425

Expiry: December 7, 2015

01:49 minutes
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