Free Trial

CAD Lags With BoC Still Seen On Hold

CANADA
  • USDCAD sees a second, stronger attempt at clearing yesterday’s high of 1.3583, with a latest high of 1.3593 after only a minimal tilt lower in the S&P E-mini.
  • Friday’s slide in the pair sees plenty of scope for further increases from a technical perspective, with resistance next seen at 1.3668 (Apr 28 high).
  • CAD sits bottom of the G10 FX pack today in contrast to AUD after a surprise RBA hike overnight, with the BoC not seen hiking again despite the hawkish tilt to its conditional pause (although 2Y GoCs see only limited outperformance to Tsys on the day).

To read the full story

Close

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.