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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.
CAD
CAD/CNH hovers above support from the 50-DMA/23.6% retracement of the Nov 18 - May 18 rally at CNH5.2655/46, after rejecting it yesterday. A clean break here would shift focus to CNH5.2564-48, which cushioned losses on May 4, 27 & 28. Conversely, bulls look for a bounce above Jun 1 high of CNH5.3142, before taking aim at May 28 high of CNH5.3495, the recent cycle peak. The rate last sits -25 pips at CNH5.2774.
Fig. 1: CAD/CNH
Source: MNI - Market News/Bloomberg
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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