Free Trial

CAD Sees Second Day Of Underperformance Ahead Of CPI

CANADA
  • USDCAD has lifted off earlier lows back to near unchanged at 1.3725 and in the middle of yesterday’s range.
  • CAD again underperforms peers, at the bottom of the G10 FX pack along with the USD for the second day running. It’s hindered by the day’s paring of yesterday’s sizeable gains for the S&P Emini after the Loonie saw no clear benefit from yesterday’s firming in risk sentiment.
  • Yesterday’s low of 1.369 came closer to support at 1.3678 (50-day EMA) whilst moving studies continue to highlight an uptrend with resistance at 1.3855 (Nov 10 high).
  • CPI lands at 0830ET (see here), part one of an important day for Canada with the government’s Fall Economic Statement from 1600ET.

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.