Free Trial

USD/CAD last deals virtually unch.....>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD last deals virtually unch. at ~C$1.3035.
- NAFTA matters remain front and centre for the pair. On Friday CBC sources
noted that "the U.S. and Mexico may be pushing for an October deadline for a
NAFTA deal, but external political pressure is not a good enough reason, for
Canada to be forced into a fast finish."
- Canadian Foreign Minister Freeland met with the head of the Canadian Dairy
lobby on Friday.
- Reports over the weekend noted that there are no talks scheduled between
Freeland & U.S. TR Lighthizer on Monday. As a reminder last week saw Freeland
stress that more work needs to be done before the two diplomats meet again.
- Last week's hold above C$1.30 keeps the near-term technical outlook neutral
with bears targeting the 200-DMA and channel base support (C$1.2863/46). Bulls
need to recover the 50-DMA (C$1.3081) to return the focus to the upside and keep
the bigger picture positive trend intact.
- The Canadian docket is rear loaded this week, with CPI & retail sales due
Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.