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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.
CANADA
- USDCAD has extended a decline to fresh session lows of 1.3557 despite the S&P E-mini still near session lows.
- It pushes closer to support at the 20-day EMA of 1.3547 after which lies 1.3528 (May 2 low).
- Sizeable GoC underperformance to Tsys for once likely plays a role (2YY GoCs -6.5bps vs -11bps Tsys) with Canadian banks again holding up better than sliding US banks (TSX banks -1.5% vs KBW index -3.5%).
- BoC Gov Macklem speaks ahead (see earlier bullet) before US and CAD employment reports tomorrow.
- Tomorrow also sees significant option expiry for the NY cut, although at now notably higher strikes of 1.3685 (1.76B)/1.3695 (1.87B).
Source: Bloomberg
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.
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