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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 briefly touched a low of 1.3547 on the latest extension of USD weakness before lifting ~20pips.
- The bounce off session lows came with a sharp reversal of earlier gains in S&P e-minis after the cash open, although correlation between the two has been unusually low in absolute terms over the past twenty days.
- Post-payrolls clearance of a congested bull trigger at 1.3614 (multiple Mar highs) has paved the way higher but for now we await tomorrow’s US CPI report before the BoC decision just 75mins later.
- BoC Preview in case missed: https://roar-assets-auto.rbl.ms/files/60782/BOCPreviewApr2024.pdf
- The USD weakness sees CAD firmly underperform other high beta peers, not helped by only consolidating yesterday’s further decline in Can-US 2Y yield differentials at -55bps for some of the lowest levels in recent months.
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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