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Curve Twist Steepens, Bucking The Trend


IRU1 Given


Correction To XM Price In Previous Bullet


No Reaction To Long Bond Tap Announcement

USD/CAD last C$1.3113, unchanged on...>

DOLLAR-CANADA: USD/CAD last C$1.3113, unchanged on the day, sticking to a ~20
pip range in Asia-Pac dealing.
- CAD continued to come under pressure on Wednesday, on the back of declining
oil prices as WTI hit fresh multi-month lows yet again, with crude pressured by
signals pointing towards a boost in global supply, as FT sources claimed that
Russia is planning to increase output if it can't strike a deal with Saudi & the
EIA reported a larger than exp. build in U.S. crude oil inventories. It is worth
noting that OPEC+ producers will meet this weekend, with a discussion of
potential 2019 output cuts reportedly on the agenda.
- Bulls continue to eye yesterday's highs at C$1.3159. A break above would open
up the Nov 1/Oct 31 high at C$1.3169/70. Meanwhile, bears focus on the key
C$1.3100 level, as a break below would open up the 100-DMA at C$1.3072.
- Points of note today include mid-level Canadian housing mkt data.
MNI London Bureau | +44 0203-865-3809 |