Free Trial

CAD Underperforms Most Majors Ahead Of CPI

CANADA
  • USDCAD trades at 1.3635 (+0.2%), lifting off yesterday’s low of 1.3607 but only to the middle of yesterday’s range.
  • Modest underperformance of GoCs to Tsys through 2-10s isn't enough to compensate for equity futures drifting lower.
  • CAD underperforms most of G10 FX on the day except for NZD (softer than expected CPI) and less so GBP and NOK.
  • The technical backdrop paints a bullish outlook for the pair, with resistance seen at 1.3786 (Oct 5 high) whilst support is seen at 1.3569 (Oct 10 low) from the lead up to last week’s US CPI print.
  • CAD CPI lands in 15mins.

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.