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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.
CANADA
- A rangebound session for USDCAD, currently +0.1% at 1.2971 but mixed on the crosses for CAD. EURCAD nudges +0.1% after a ~1.6% decline over four days but CAD outperforms Antipodeans with help from oil whipsawing higher.
- A more notable narrowing in front-end Can-US yield differentials to 11bps from 15-20bps of recent days weakens a supporting factor for CAD at the margin.
- It comes as the short-term trend remains in bulls’ favour with a focus on 1.3107 (76.4% retrace of Jul 14 – Aug 11 downleg) but first needing to clear yesterday’s high of 1.3063.
- Data: Potential drivers from tomorrow’s second release for US GDP in Q2 plus less so the Canadian CFIB business barometer and jobs vacancies in the SEPH report.
USDCAD (white) and 2Y Can-US yield differential (blue)Source: Bloomberg
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.
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