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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
- CAD sits at the bottom of the G10 pack today, from a combination of sluggish monthly GDP data (July 0.0% M/M vs cons 0.1, Aug advance just 0.1%), the S&P e-mini continuing its post cash open decline and WTI giving up earlier gains.
- The combination sees a strong uplift in USDCAD, just pushing new session highs of 1.3551 having touched 1.3417 around the NY crossover.
- The high pushed through resistance at the Sep 27 high (1.3543), opening 1.3593 (Sep 12) before ultimately the key 1.3695 (Sep 7 high).
- A renewal of the bear trend meanwhile would see support at 1.3381 (Sep 19 low), seen as strong CAD CPI hit.
- Domestic data continue to help guide turning points, with some of that downward pressure on the pair remaining until the hawkish FOMC dot plot the following day. Up next for key releases is Friday's labour report on Oct 6.
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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