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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 to nearly unchanged at 1.2883 with latest risk-on helping push the pair lower after whipsawing with the ECB’s front-loaded 50bp hike and weak US data for ultimately a -0.3% drop since then.
- There have been significant two-sided swings since last week’s BoC with a range of 1.2855-1.3224, and there are further potential drivers with Canadian retail sales and the preliminary US S&P Global PMI tomorrow.
- Whilst there was little clear impact from the Philly Fed miss amidst the ECB announcement and presser, the weak Leading Index was behind a gyration later on. There will likely be greater sensitivity to the PMI, with a beat and the boost it would have for risk sentiment possibly required to take the pair much lower with the 50-day EMA at 1.2859.
USDCAD Open To Large SwingsSource: 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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