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COMMODITIES

Fourth Session of Lower Lows for WTI

US TSY OPTIONS

Put spread unwind

SOUTH AFRICA

Weak Mining Production in September

EUR

Extending losses

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Mild GoC Outperformance, USDCAD Retraces

CANADA
  • GoCs see mild outperformance to long end Tsys 30mins after open, with the Can-US 2Y differential holding at -36bp and 10Y widening to -53bps.
  • A resumption of USD strength sees USDCAD sit in the middle of yesterday’s range at 1.3586 off a low just above 1.35. Resistance seen at 1.3664 (Oct 4 high), support at 20-day EMA of 1.3449.

News recap:

  • Opposition Conservatives are ratcheting up pressure on the BoC after Poilievre’s procedural chief released a video calling for ruthless scrutiny of the Bank.
  • Toronto home prices have now fallen 17% from their spring peak after -1.2% M/M in September, following Vancouver’s -2% M/M for an 8.5% decline over six months.
  • The heavy WCS’s discount to WTI widened by $1 to $23.25bbl yesterday, the widest since Jan’20.
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  • GoCs see mild outperformance to long end Tsys 30mins after open, with the Can-US 2Y differential holding at -36bp and 10Y widening to -53bps.
  • A resumption of USD strength sees USDCAD sit in the middle of yesterday’s range at 1.3586 off a low just above 1.35. Resistance seen at 1.3664 (Oct 4 high), support at 20-day EMA of 1.3449.

News recap:

  • Opposition Conservatives are ratcheting up pressure on the BoC after Poilievre’s procedural chief released a video calling for ruthless scrutiny of the Bank.
  • Toronto home prices have now fallen 17% from their spring peak after -1.2% M/M in September, following Vancouver’s -2% M/M for an 8.5% decline over six months.
  • The heavy WCS’s discount to WTI widened by $1 to $23.25bbl yesterday, the widest since Jan’20.