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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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- The US CPI report sees the BoC decision and MPR land with a notably different backdrop.
- June cut expectations have shifted from ~20bps priced to ~17bps at typing, whilst CORH4/Z4 implies 68bps of cuts. There are question marks over whether BoC commentary will reiterate potential differences in rate paths vs the US.
- 2Y GoC yields sit 12bp higher on the day but the Can-US differential still slips 6bps to -61.5bps for its lowest since Mar 2023.
- USDCAD touched a high of 1.3661, through 1.3647 (Apr 5 high) and equalling resistance at 1.3661 (Nov 27, 2023 high). A firm extension of the previously bullish outlook, further upward pressure could open 1.3729 (Nov 22, 2023 high).
- https://roar-assets-auto.rbl.ms/files/60782/BOCPreviewApr2024.pdf
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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.