BofAML: What's the trade in commodity FX?

Bank of America Merrill Lynch recommends going long USDCAD CAD strength will become a bigger concern for the BoC with the trade balance deteriorating sharply Also, mentions that the "AUD real effective exchange rate is close to fair value" while the "RBNZ is likely to maintain its stance that a lower NZD exchange rate is needed, but
BofAML: What's the trade in commodity FX?