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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
- CAD sees solid outperformance of non-USD peers, a function of the day’s broad USD strength.
- USDCAD still registers gains, currently holding at 1.3569 (+0.3%), off an earlier 1.3587 but all the time remaining below yesterday’s latest high of 1.3604 having made progress towards a key resistance at 1.3655 (May 26 high).
- After its brief dip out of overbought territory yesterday, the pair is back above 70 on the 14-day RSI basis, at levels it has historically rarely held for this long and potentially at risk of reversal if Jackson Hole deliberations are more dovish than expected.
- Tomorrow sees some reasonable cumulative option expiry with $522mln at 1.3580 and $167mln at 1.3585 plus $405mln at 1.3500.
- The NY cut does however land just 5 minutes ahead of Powell’s highly awaited JH address at 1005ET, potentially the major driver of the session, followed by a solid Fedspeak schedule.
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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