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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 is back within a few pips of early session lows of 1.3399, with a more than 2.5% intraday swing higher in WTI helping downward pressure along with equity futures sitting closer to overnight highs.
- The pair sits at lowest levels since Jan 15 before the sizeable paring of Fed rate cut expectations. Support is seen at 1.3382 (Jan 15 low) as what’s deemed a corrective pullback extends, whilst resistance remains at the bull trigger of 1.3542 (Jan 17 high).
- Decent option expiry for tomorrow’s NY cut ($1.09bn at 1.3400) could help support current levels at the margin.
- That said, the pair will no doubt be at the mercy of a heavy docket including US ADP and ECI, Treasury refunding, aforementioned CAD GDP and then the MNI Chicago PMI, all before of course the FOMC decision.
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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