Free Trial

GoCs Softer, CAD Firmer In Early Trade

CANADA
  • FI: GOCs have largely held onto their softer open, for a ~4bp sell-off across the curve.
  • Barring the snap reaction to strong Canadian CPI data last week (hitting 1.6085%), 2YY of 1.574% are back at new post-pandemic highs as larger hikes are re-priced.
  • FX: USDCAD trades -0.6% lower, just off new session lows of 1.2688 vs BBDXY -0.2% as risk-sensitive currencies firm with NZD leading the way.
  • Whilst still rangebound, USDCAD moves towards the lower end of post-BOC/FOMC levels, sitting above key short-term support of 1.2636 (Feb 10 low) after which it could open 1.2560 (Jan 26 low).

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.