FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

Loonie Stabilises After Sell-Off Triggered By BoC Gov's Comments

CAD

The loonie went offered Thursday as BoC Gov Macklem expressed a sense of concern with currency appreciation, noting that "a stronger dollar creates some risk for our outlook." CAD finished the day as the worst G10 performer.

  • USD/CAD has inched higher, but yesterday's peak remains some way off. The rate trades +6 pips at C$1.2169, with bulls looking for a break above yesterday's high of C$1.2203, followed by May 4 high of C$1.2351. Conversely, bears look for a dip through May 12 low of C$1.2046.
  • CAD/JPY sits at Y89.99, just shy of neutral levels. A fall through May 11 low of Y89.36 would please bears, while bulls look for a break above May 12 cycle high of Y90.65.
  • Canadian m'fing sales & wholesale trade sales headline the local docket today.
Canada Bank of Canada Market NewsBulletMarketsForeign 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.