Free Trial

USDCAD Back Into Latest Range On Risk Rebound

CANADA
  • The bounce in risk sentiment sees USDCAD 30-40 pips off highs of 1.3581, a level that now forms initial resistance ahead of 1.3665 (Jan 6 high).
  • At 1.355, the pair is now back within yesterday’s range and close to post-FOMC levels, with CAD also broadly mid-pack of majors -- Canadian data today showed hotter wage pressures but from marginal releases (CFIB 1y ahead +0.3pps at 3.3%, SEPH fixed weight +0.6pps at 4.5% Y/Y in Dec).
  • No CAD data tomorrow but US sees monthly PCE for Jan after surprisingly strong upward revisions for deflators in Q4.

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.