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SILVER TECHS

Bullish Extension

GOLD TECHS

Heading North

WTI TECHS

(M1) Needle Still Points North

BRENT TECHS

(N1) Bullish Conditions Remains Intact

USDCAD TECHS

Extends Lower With Bears In Charge

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD has been the early mover this week, with the CAD
benefiting from reports/comments pointing to the nearing of a NAFTA deal,
however various officials have noted that some hurdles still remain.
- BBG sources have indicated that the Trump admin is growing increasingly
confident that a trilateral NAFTA deal may be published by the Sunday midnight
deadline (ET).
- U.S. TR Lighthizer indicated that there will be news on NAFTA over the next 24
hours, but in a Sunday address highlighted that dairy & Chapter 19 issues
remained sticking points.
- USD/CAD last deals at C$1.2850, off of lows of C$1.2837.
- This comes after CAD was comfortably the best performer in G10 FX on Friday,
underpinned by the near 2% rally in WTI futures as the rally in energy
re-correlated with CAD.
- The pair has breached the September 20 low & 200-DMA (C$1.2885/69), with bears
now looking to channel base support (C$1.2792). Bulls need to reclaim the
100-DMA (C$1.3054).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com