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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 seen a high of 1.3775, a sizeable further increase on the day despite the day’s increase in equity futures.
- It has cleared two July highs and leaves it at the high end of a multi-month range, with initial resistance now at 1.3792 (Jun 11 high) before a bull trigger at 1.3846 (Apr 16 high).
- CAD outperforms high beta peers on the day although on a trade-weighted nominal basis remains at some of the weakest levels in the past few years.
- Market attention is on Wednesday’s BoC decision with a second cut almost fully priced and latest CFTC data showed that for futures at least, CAD net shorts reached new recent extremes at 47% of open interest.
- We also expect a cut although think it’s a closer call than market pricing suggests – the MNI Preview will follow later.
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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