MNI China Daily Summary: Tuesday, November 26

MNI: Japan Govt Keeps Economic Assessment, Ups Imports

MNI BRIEF: China Supports Globalisation Despite Turbulence

MNI: PBOC Net Injects CNY11.0 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1910 Tues; -1.46% Y/Y

MNI China Daily Summary: Monday, November 25

MNI: UK CBI NOV DIST TRADE REPORTED SALES -18

MNI: UK NOV BRC SHOP PRICES +0.2% M/M, -0.6% Y/Y

MNI: JAPAN OCT SERVICES PPI +2.9% Y/Y; SEPT REV +2.8%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

Oil Weakness Tips USD/CAD Toward Bull Trigger

CAD
  • USD/CAD extending gains in recent trade as the broad USD strength meets a pullback in oil-tied FX: WTI and Brent crude futures came under solid selling pressure at ~0945ET / 1445BST, before stabilising somewhat in recent trade. There were no headlines or key drivers behind oil weakness outside of background USD strength and deteriorating risk appetite, evident in the S&P 500 opening lower.
  • USD/CAD's rally narrows the gap with key resistance and the bull trigger at the 1.3695 early September high. Clearance here puts the pair at the best levels since March, and would make for a 300 pip rally off the mid-Sept lows and the failed break of the 100-dma support.
  • Oil seen as the key factor in the near-term, with some attention paid to the earlier calls from Citi, who forecast Brent falling to the low $70s next year as the market flips to a surplus.
EM BulletHomepagemarkets-real-timeEmerging Market NewsBulletMarketsFixed Income BulletsForeign 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.