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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 is circa 15 pips off earlier highs of 1.3529 but has nevertheless drifted higher as it underperforms along with NZD and AUD, hindered by WTI extending Friday’s losses.
- Resistance is exposed with the bull trigger at 1.3586 (Feb 13 high) whilst support is seen at 1.3413 (Feb 9 low).
- Today’s larger option expiry is at nearby to slightly lower strikes: 1.3515 ($555m) and 1.3490 ($821m).
- Latest CFTC data showed a further reduction in CAD net shorts to just -0.5% of OI for early last week. There were last net longs in Jul-Aug’23 and before that Sep’22. It's a large pullback from a low of -34% in mid-Nov last year.
- Today’s CAD data is headlined by flash estimates for mfg and wholesale trade in January (0830ET), whilst new home sales lead US data (1030ET) although with double 2Y and 5Y issuance more of note.
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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