Free Trial

US Data Eyed Ahead of Reasonable Option Expiry For USDCAD At 1.36

CANADA
  • USDCAD sits within 10 pips off earlier highs of 1.3613 as CAD better resists upward USD pressure than other growth sensitive peers.
  • A further push higher could open 1.3640 (May 3 high) after which sits key resistance at 1.3668 (Apr 28 high), although growing option expiry with $814m at 1.3600 for today’s NY cut could offer some near-term traction.
  • Mixed CAD factors this morning, with CIBC the only bank of the five that have reported beating estimates for adj EPS but the CFIB business survey showing continued resilience in wage plans.
  • US 2nd GDP and weekly jobless claims are in focus at 0830ET whilst at the margin we also see the SEPH report for March with its typically lagged vacancies and fixed weight wage metrics.

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.