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Free AccessMNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday
USDCAD Clears Resistance As Equities Come Under Pressure
- USDCAD touches a high of 1.3585 after another leg higher with the extension of downward pressure on the S&P E-mini since the open (and with TSX further lagging), which sees high beta currencies coming under most pressure.
- Extending a recent bullish theme, the pair has pushed through resistance at 1.3568 (May 15 high), opening 1.3640 (May 3 high) from before the dovish leaning FOMC decision.
- Little by way of a domestic docket today leaves further debt talk back and forth and upcoming Fedspeak as near term drivers.
Source: Bloomberg
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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.