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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 pulls back from an early high of 1.3063 that had briefly extended yesterday’s push higher to sit at 1.3016 (-0.3%).
- NOK and CAD outperform other majors as oil pushes higher despite fading correlation for USDCAD.
- After some resistance yesterday, 2Y GoC yields pushed through cycle highs for fresh highs since Jan’08, helping limit the decline in the 2Y Can-US differential to +15bps from closer to +20bps late last week but still running at levels last seen sustained in the first half of July.
- Bullish price action sees initial resistance at the session high of 1.3063, clearance of which would open the 1.31 handle with 1.3107 (76.4% retrace of Jul 14 – Aug 11 downleg). Alternatively, support is eyed at 1.2972 (Aug 22 low) should risk sentiment improve.
USDCADSource: 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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