Free Trial

Reported Tokyo fix supply pressured USDCAD...>

CANADA
CANADA: Reported Tokyo fix supply pressured USDCAD through C$1.3400 overnight,
before stalling around support from the 55-dma. Weaker oil prices allowed a
minor recovery to the C$1.3415 area. Trendline support off the Feb 27 low comes
in today at C$1.3386, a break opens the 61.8% retracement of the Apr rise at
C$1.3369.
- CADJPY improved to Y82.57 with bulls focusing on a break of the 100-dma at
Y82.91.
- EURCAD rests on up trendline support off the Oct 2018 lows at C$1.4953. A
close below brings the Apr 1-2 lows back into view at C$1.4906.
- NZDCAD touched fresh ytd lows of C$0.8708 with support seen on approach to
C$0.8700. A downside break is likely to accelerate the move toward NZ$0.8689/83
which represents the 61.8% retracement of the Oct-Mar rise & Nov 5 low.
- AUDCAD extended the corrective pullback to C$0.9213, before meeting support
from yesterday's low. Further support is located through to the handle (C$0.9201
- Jan 3 ytd 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.