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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 has seen a downtick with the recent step lower in BBDXY but CAD remains one of the poorer performers across G10 FX today ahead of the BoC.
- Currently 1.3663 but off an earlier high of 1.3700, the pair has already cleared two resistance levels at 1.3676 (yesterday high) and 1.3690 (61.8% retrace of Oct-Nov bear leg). Firmer clearance of the latter would strengthen bullish conditions and open 1.3808 (Nov 3 high).
- To the downside, firm support is seen at 1.3385 (Monday’s low).
- The pair is currently 0.75% above levels at the last BoC meeting on Oct 26 with its surprise downshift to a 50bp hike, travelling in the wrong direction but in itself not driving a material increase in FX passthrough to inflation.
Source: Bloomberg
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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