BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

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 Slides Towards Bottom Of G10 Pack With Risk Sentiment Souring

CANADA
  • USDCAD continues to lift as both equity and crude futures push lower, a combination that along with net USD weakness on the day, sees CAD continue to drift towards the bottom of the G10 pack with only NOK faring worse on the day.
  • It’s touched a session high of 1.3495 but is below yesterday’s first half levels and still with a clear gap to the 1.36 tested earlier in the week.
  • The post data low of 1.342 pierced support to open a key short-term support at 1.3359 (Jan 31 low).
  • CAD jobs doubled expectations in Feb (41k vs cons 20k) and saw full-time jobs growth of 70.6k. There were some caveats though, with a heavy contribution from self-employees (+38k) whilst the public sector (+19k) offset private sector (-16k) for employees. Further, wage growth for permanent employees surprised lower at 4.9% (cons 5.1) after 5.3%.
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign 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.