Free Trial

USD/CAD dropped a dozen pips..........>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD dropped a dozen pips overnight and last deals at
C$1.3232, mostly on the back of broader, minimal USD weakness. Meanwhile, WTI
posted a modest uptick overnight and last trades at $55.86.
- Worth highlighting that both U.S. and Canadian markets are closed for their
respective national holidays today.
- Familiar lines in the sand remain. Bears need a move through the Feb 14 low of
C$1.3229 before attempting a run at C$1.3149, which represents the 200-DMA.
Conversely, the initial bullish target is provided by Friday's high of C$1.3313
and a jump above would bring the 55-DMA/50-DMA at C$1.3347/48 into view.
- Domestic retail sales data, due Friday, headlines the Canadian docket this
week. Elsewhere, BoC Gov Poloz is due to speak Thursday.

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.