CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Extends This Week’s Bear Cycle

USDCAD TECHS
  • RES 4: 1.2964 High Dec 20 and a key resistance
  • RES 3: 1.2924 High Dec 22
  • RES 2: 1.2871/2901 High Mar 15 / High Mar 8 and a key resistance
  • RES 1: 1.2735 20-day EMA
  • PRICE: 1.2602 @ 06:53 GMT Mar 18
  • SUP 1: 1.2587 Low Mar 3 and a near-term bear trigger
  • SUP 2: 1.2552 76.4% retracement of the Jan 19 - Feb 24 rally
  • SUP 3: 1.2499 Low Jan 21
  • SUP 4: 1.2454 Low Jan 19 and a key support

USDCAD continues to weaken, extending the reversal from Tuesday’s 1.2871 high. The Mar 11 low of 1.2694 has been breached and this clear break signals potential for a deeper retracement that opens 1.2587 next, the Mar 3 low and a key near-term support. From a trend perspective, moving average studies still highlight a bull cycle. Clearance of 1.2901, Mar 8 high, is required though to highlight a resumption of the uptrend.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.