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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 Narrows Underperformance Post US Open
- USDCAD extends a move lower since the US cash open as WTI also tests ytd highs, touching 1.3172
- CAD continues to lag other high beta peers on the day although has closed the gaps slightly (currently +0.5% vs the USD vs +1.0% in the case of AUD).
- Whilst very much lower tier, local data have shown some resilience with consumer confidence holding up well after the latest pair of BoC hikes and construction prices rising 1.9% Q/Q in Q2 for 7.5% Y/Y, or 13% Y/Y specifically in Toronto. Builders across 11 major markets cited problems finding workers, rising wages and higher costs for materials such as concrete.
- Support is seen at a bear trigger at 1.3093 (Jul 14 low) whilst resistance is seen at the 50-day EMA of 1.3286.
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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.