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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.
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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
USDCAD Broadly Keeps To Post US Data Hit, CAD Boosted By Oil
- USDCAD has crept higher after the slide on triple misses from US PMI, Richmond Fed and new home sales saw a low of 1.2934, currently 1.2964 (-0.7%) back at early Friday levels.
- Linkages to the US had seen CAD underperform on crosses, e.g. AUDCAD temporarily moving back to mid-last week levels, but a continued move higher in WTI (currently +3.8%) has helped CAD claw some relative strength back.
- Back to USDCAD, it cleared support at yesterday’s low of 1.2972 (Aug 22 low), opening firmer support at the 20-day EMA of 1.2913.
- Front-end Can-US yield differentials have played relatively little role today, at +17bps vs recent highs closer to +20bps for levels seen in the first half of July.
- Ahead, late Fedspeak from a Kashkari Q&A tonight plus usual sensitivity to any headlines with weaker China growth implications overnight before tomorrow’s US session sees further important drivers from preliminary durable goods for July with no Canadian data until Thursday.
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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.