Free Trial

CAD Outperforming Peers Amidst USD Strength

CANADA
  • USDCAD retraces some of a spike lower to sit at 1.336 (+0.2%), still down from a session high of 1.3401 prior to US data.
  • Amidst USD strength, CAD notably outperforms its peers after underperforming earlier in the week (with AUDCAD for example now 0.5% lower on the week).
  • A technical bearish trend condition remains in place for USDCAD with resistance seen at 1.3462 (50-day EMA) and support at 1.3226 (Nov 15 low). Further solid option expiry for tomorrow’s cut-off (1.215B at 1.3325 after 1.03B at 1.33 today) could potentially weigh near-term.

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.