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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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Free AccessUSD/CAD Downtrend Resumes
- CAD outstripped all others Friday, with USD/CAD resuming the 2021 downtrend on the break below 1.2468. CAD strength followed a stellar Canadian jobs report for February, in which Canada added over 3 times as many jobs as forecast, with a decent bounce across both full and part-time positions. This saw the unemployment rate shed a whole 1.2ppts to new pandemic-era lows.
- Persistent USD strength was evident throughout Asia-Pac and European hours as US yields rallied and the Treasury Curve steepened. This saw the USD Index bounce off the weekly post-ECB lows before price action faltered into the US close, with the greenback rolling off the day's best levels ahead of the close.
- SEK, NZD and GBP were among the poorest performers Friday, CAD, USD and NOK the strongest.
- Focus for the coming week rests on a frenetic five days for central banks. Rate decisions are due from the US, UK, Norway, Japan, Russia, Turkey, Brazil and Indonesia among others.
- On the data front, the Australian jobs report, Japanese CPI and US retail sales are all due.
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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.