Barclays reveals its favourite trade for this week

Barclays shares its best forex trading idea for this week.

"We believe the markets are fully anticipating an extension of OPEC's cuts on 30 November, but we do not think that it will make a final decision until 2018.

This is a downside risk, while oil prices have been recently supported in part by expectations of further production cuts.

We expect that a correction in oil prices will weigh down on the currencies linked to it despite the recent decline in correlations.

In addition, Canada's GDP is expected to slow down in Q3, which will weigh down on the CAD.

We recommend the purchase of USD/CAD this week."