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Why MNI
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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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Free AccessCAD Continues to Pressure New Cycle Highs
- CAD continued to press higher Thursday, putting USD/CAD at new cycle lows for a second consecutive session. The break of 1.2365, Mar 18 low confirms a resumption of the underlying downtrend that has been in place since March 2020. MA studies remain in a bear mode reinforcing current trend conditions, with firmer oil prices also lending a hand.
- Having tested the level on several occasions Thursday, USD/JPY finally managed to show above the week's best levels of 109.08 before a turnaround in equity market sentiment undermined the bullish argument and dragged the pair back below Y109 ahead of the US close.
- CAD, USD were the strongest Thursday, with AUD, SEK and NOK among the poorest performers.
- Focus Friday turns to Japanese industrial production, Chinese PMI data for April and prelim GDPs from Germany, Italy and the Eurozone. In the US, March PCE, the MNI Chicago Business Barometer and Canadian GDP data crosses. Speakers include Fed's Kaplan.
To read the full story
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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.