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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
- Oil may be off lows but the combination of further declines today and net USD weakness sees CAD bottom of the G10 FX pack today in close competition with EUR, after the loonie climbed 0.5% on a trade-weighted basis last week.
- USDCAD at 1.3644 is marginally higher on the day, keeping to a relatively narrow 1.362-1.366 range. Friday’s decline in the pair saw a cracking in trendline support at 1.3659, leaving the low of 1.3594 as initial support after which lies 1.3573 (1.0% 10-dma envelope).
- Latest CFTC futures positioning for Nov 21 will be released later today as a Thanksgiving hangover. Data for Nov 14 showed consolidation of the prior week’s significant increase in CAD net shorts, at 34.2% of OI. It was just shy of the 34.6% net shorts touched in early April having last been higher in Jan’19.
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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