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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.
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Free AccessUSD/CAD last trades at C$1.3110,......>
DOLLAR-CANADA: USD/CAD last trades at C$1.3110, posting a marginal uptick on the
day.
- Friday saw the pair snap lower as U.S. equity indices edged away from worst
levels & crude prices jumped, after CAD had been the poorest performer in G10
- In terms of CAD specific risks, Goldman Sachs notes that "CAD faces an upside
risk from a reversal in the widening of the WTI-WCS crude oil spread and the
latest spike in the VIX."
- Bulls need to close above the 61.8% retracement from June highs to Oct lows at
C$1.3156 to gain momentum and challenge the Sep 11 high at C$1.3175. Bears need
to break below Friday's low of C$1.3069, which would open up the 50-DMA at
C$1.3014.
- Highlights of the Canadian docket this week include the releases of GDP data
on Wednesday & labour mkt data on Friday.
To read the full story
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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.