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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.
CANADA
- The downturn in S&P 500 futures may have been at least partly pared but that doesn’t stop USDCAD from pushing above 1.3700 with WTI having now fully unwound earlier sizeable gains.
- USDCAD has seen a high of 1.3705, further building on yesterday’s clearance of 1.3691 (May 10 high) with next resistance not seen until 1.3785 (Apr 30 high).
- Earlier option expiry at 1.3675 had lent some weight at lower levels, whilst there's less expiry of note looking ahead to tomorrow’s cut with just $462m at 1.3705.
- Tomorrow sees Canadian retail sales for Mar/Apr advance as a warm-up for the following week’s GDP data in the last main reports before the Jun 5 BoC decision (still hovering between 15-16bps having faded the lift in Fed implied rates on stronger PMIs).
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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