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.
- Update: 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.
