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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 has moved through newly found support at yesterday’s low of 1.2510, touching 1.2499 in the process.
- This has come following a significant sell-off in rates, and despite Eurodollars implied yields rising by more than BAX (as much as 20bps vs 15bps), with a further, smaller, boost from oil prices rising on a missile strike at an Aramco facility.
- That leaves it testing next support at 1.2499 (Jan 21 low) after which it would open the key level of 1.2451 (Jan 19 low) with a 1.23 handle from Nov 2021 lows after that.
- The pair has moved lower for 12 of the past 13 days, for a decline of -3%.
- Little impact from NY Fed’s Williams earlier. Next commentary likely of note is BOC Dep Gov Kozicki in around an hour.
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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