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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 touching a low of 1.3656 has breached support at 1.3671 (20-day EMA) following the broader post-US PMI moves.
- It opens next support at 1.3595 (50-day EMA) even if technical trends have suggested the pullback is corrective.
- The Can-US 2Y yield differential sits 2.5bps higher on the day, at -69bps now ~9.5bps higher than the close after last week's soft CAD CPI.
- CAD underperforms peers owing to its US linkages, only outperforming USD and JPY on the day.
- Tomorrow sees Canadian retail sales and the minutes from the BoC Apr 10 decision.
- The NY cut lands between the two, with larger expiries generally grouped lower than spot: 1.3565 ($404m), 1.3570 ($402m), 1.3576 ($471m), 1.3600 ($495m), 1.3650 ($425m) and 1.3680 ($770m).
Support at 20- and 50-day EMAs (green, pink)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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