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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.
CANADA
- USDCAD is trading near US session lows, currently 1.347, as it closes out the week with a 0.9% increase vs the broader dollar index only 0.3%.
- Negative correlation with S&P e-mini has faded although it remains an important driver (-0.66 20-day rolling) but more noticeable has been the larger negative correlation with the Can-US 2Y yield differential, which at -0.77 is just off 2022 lows.
- The 2Y diff has narrowed intraday but remains 3bps wider on the week at -48bps, with CAD CPI inflation on Tue a potential key driver along with US flash PMIs before the FOMC minutes Wed.
- An intraday high of 1.3537 sets initial resistance for the pair after which lies 1.3665 (Jan 6 high), with support at 1.3275 (Feb 14 low).
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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