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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 now lifted ~20 pips off earlier lows of 1.3574 with a push lower in equities (-0.2%). That is however after clearing support at 1.3594 (Nov 24 low) to open 1.3569/1.3555 (Oct 10 low/1.0% 10-dma envelope).
- CAD sits top of the G10 FX pack but aside from WTI lifting 1.0%, there aren’t many factors supporting the move, with the S&P e-mini only 1pt off the day’s worst levels and GoCs trading in line with Treasuries.
- Yesterday’s delayed CFTC data showed a marginal trimming in CAD net shorts to -32% for Nov 21, after two weeks at -34% stopped just shy of the 34.6% seen in early April having last been higher in Jan’19.
- Today’s local docket is particularly thin, with BoC Executive Director Morrow giving a speech on supervision with text at 1825ET. The USD leg should be the driver, with a heavy data and Fedspeak docket before further Tsy supply.
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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