MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CAD Rebuffs S/T Bearish Theme, as GDP Lends Support

FOREX
  • Both CAD and CHF pushed back against previous bearish price action to trade higher through the Thursday close, as window-dressing and month-end flows worked against S/T trends evident in the price action across the past two weeks.
  • USD/CAD headed through the London close at the session's lowest levels, extending the post-GDP data losses and pushing back against the bullish outlook. For now, the outlook remains positive above first support at 1.3456 and the bear trigger at 1.3420.
  • Key short-term resistance is at 1.3614, the Mar 19 high and a recent congestion level. A clear break of this hurdle would confirm a resumption of the uptrend that began on Dec 27. This would expose 1.3623, a Fibonacci retracement, and 1.3661, the Nov 27 high.
  • The USD Index started the Thursday session among the session's best performer, before giving back gains across US hours. Most sell-side models had seen moderate dollar sales as part of month-end rebalancing flow - and a small part of these flows may have played out, with modestly soft Q4 PCE numbers adding to the weight on the currency.
  • Focus in the coming week turns to Eurozone inflation numbers, the 1-yr, 3-yr inflation expectations survey as well as the March jobs report rounding off the week on Friday. Markets currently expect the US to have added 215k jobs over March, down from 275k in February.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.