TD Securities - "The TD View: Trading Vias:
US: Position for long term USD gains. Buy short term dips.
Canada: Look to sell CAD rallies.
Europe: Sell EUR rallies below 1.3250.
Asia/Pacific: Both AUD and NZD are sagging below our mid-year targets but yield-seeking will prevail again
LatAm: We like short BRLMXN, targetting 6.34, or 6.16 if central bank comments support a sharp adjustment in rate expectations.
EMEA: We like short EUR/PLN, targetting 4.07. USD/RUB cheap to our forecast. Limited scope for ZAR and TRY strength.
Asia: We continue to like USD/INR shorts, as we forecast 51.8 in Q4 on reforms. Scope for limited MYR gains, and stable IDR.
Energy: Short spot crude, Long spot natgas
Precious Metals: Long XAG/XAU ratio, Long Pd/Pt ratio
Other Metals: Sell Cu and Ni"