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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
[Follows part i here]
- With a hike tomorrow not fully priced (holding close to 50/50 odds of 25bp), USDCAD could see movement in either direction.
- A hawkish surprise could ultimately tee up a run towards a key support for USDCAD at 1.3315 (May 8 low), but with already 40bps of tightening priced for October from current levels it might struggle to build on that.
- Further, there already appears to have been a sizeable squeezing of CAD shorts in recent weeks (CFTC net shorts jumped from -30.5% to -16.5% last Monday before the further CAD rally). That suggests that some potential of a hawkish surprise is already baked in although there is still scope for further squeezing of shorts ahead vs small net longs earlier in the hiking cycle.
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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