Free Trial

Despite broadly quiet G10 FX so far...>

DOLLAR-CANADA
DOLLAR-CANADA: Despite broadly quiet G10 FX so far today, CAD is bucking the
trend somewhat, with USD/CAD edging to session highs and comfortably clearing
C$1.3050 amid signs of a US-Mexico trade conciliation, contrasting with the lack
of progress between the US and Canada. In fact, the fracture in trade ties
between Canada and US has worsened this morning after the US filed and appeal
with the WTO against Canada over paper duties. USD/CAD may run into resistance
on an approach into the C$1.3066 level, marking the 61.8% fib level for the
C$1.3103-1.3007 move. Further above, the 55- and 50-dmas may contain price
action further at C$1.3126/29.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.