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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 1.3654 is within earlier highs of 1.3675 seen on the short-lived hawkish reaction to the Fed’s Waller which built on the shift higher after soft core CPI trends released just 30mins earlier.
- Those CPI trends sees CAD bottom of the G10 FX pack on the day after BoC-dated OIS shifted from ~11bp of cuts for the Jun 5 decision to 15-16bps. It’s closely followed by the NZD ahead of the upcoming RBNZ decision.
- There’s limited notable data releases between now and Jun 5 barring Q1 GDP on May 31 and labour productivity on Jun 5 itself.
- USDCAD cleared resistance at 1.3660 (20-day EMA) to open 1.3785 (Apr 30 high).
- EURCAD meanwhile hit a high of 1.4835, pushing through recent highs of 1.4822 seen after clearing a cluster of highs in the past six months around 1.4780. Moving averages in a bull mode position, whilst a key resistance is 1.5045 (Nov 21, 2023 high).
EURCAD extends its more notable trend higherSource: 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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