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Global Macro
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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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
MNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
CANADA: USDCAD Tests Support, Lending Survey Ahead Before CAD CPI Tomorrow
- USDCAD has pushed below overnight lows to 1.3652, testing support at 1.3657 (Jul 17 low).
- A further push lower could open a key support at 1.3589 (Jun 11 low) in a move that would start a more pronounced trend as opposed to what’s technically seen as a corrective pullback away from resistance at 1.3748 (20-day EMA).
- Friday’s CFTC data showed a renewed increase in CAD net shorts for futures at least to -55.6% of open interest, near enough back to historical extremes seen in the aftermath of a dovish BoC in July to accompany a second consecutive cut.
- CAD CPI lands tomorrow, where we note TD look for a three-month core rate to nudge above the 3% upper limit, with OIS currently pricing three consecutive cuts to round out the year.
- Before then and shortly ahead at 1030ET, the BoC releases its Senior Loan Officer Survey for Q2. One area to watch will be non-price lending conditions for households after a tightening in Q1 for both mortgages and non-mortgages.
To read the full story
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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.