Free Trial

USD/CAD slipped 11 pips and last......>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD slipped 11 pips and last trades at C$1.3161, as WTI
ticked higher overnight.
- Bulls continue to target the 200-HMA at C$1.3183, followed by the
21-DMA/yesterday's peak at $1.3205/07. Bears keep an eye on the Feb 20 low of
C$1.3150 and a break below would allow them to set their sights on C$1.3113,
where the rate bottomed on Monday.
- Canadian focus today turns to domestic Dec/Q4 GDP and m'fing PMI. Domestic
political matters will continue to draw attention, in light of the recent
SNC-Lavalin scandal, even after Canadian Foreign Minister Freeland leant her
support to PM Trudeau on Thursday.
- Worth highlighting that there is some C$1.38bn worth of FX option expiries
with strikes between C$1.3140-50 set to roll off at today's 10AM NY cut.

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.