Free Trial
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 has seen session highs of 1.3478, lifting off latest lows overnight of 1.3441 on the back of continued downward pressure in WTI futures and with the S&P e-mini fading earlier intraday gains.
- The low saw a step closer to support at 1.3420 (Mar 8 low), whilst resistance is seen at 1.3519 (Aug 26 high) before 1.3617 (Aug 23 high).
- The pair just about remains in oversold conditions, which if it’s maintained would mark its fourth day. In the past five years, it has ‘closed’ oversold in 45 times for an average duration of 3.5 days.
- The limited extent to which the pair has remained oversold suggests it could be hard to see a concerted push lower for the pair but there could be added ammunition with CAD net shorts still likely historically large (52% of OI as of Aug 20 with the 150pip decline since then potentially squeezing this).
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok