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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA
- USDCAD at 1.3856 holds the bulk of today’s further climb which has seen a new recent high of 1.3865 on broad-based USD strength to notch a third day in overbought conditions.
- A reversal of earlier US equity weakness seen after the cash open has done little to move away from those earlier highs, with CAD disappointing on crosses through North American hours having earlier benefited from its linkages to the USD.
- The latest climb has extended Friday’s clearance of a key 1.3846 (Apr 16 high) to punch through 1.3855 (Nov 10, 2023 high) and set sights on 1.3899 (Nov 1, 2023 high).
- A dovish BoC continues to weigh on Can-US yield differentials, with the 2Y at -81bps (recent lows of circa -90bps after the first BoC cut of the cycle in June) and the 10Y at -89bps.
- US data picks up with JOLTS and the Conference Board consumer survey tomorrow but the next major CAD data isn’t until monthly GDP on Wed.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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