Free Trial

AUDCAD resumes its downtrend following........>

FOREX
FOREX: AUDCAD resumes its downtrend following yesterday's break through channel
base support, as highlighted in an MNI Analysis email (Oil surge and NAFTA
agreement pressure AUDCAD - Oct 1). Amid the backdrop of a broadly stronger USD
and narrowing yield differentials (AU/US 10-yr -0.50%), AUDCAD touches C$0.9111,
its lowest levels since July 2010. Expect support ahead of the psychological
C$0.9000 level, a break is likely to accelerate the move toward the Jul 6 2010
low at C$0.8871.  

To read the full story

Close

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.