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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
- CAD has seen somewhat mid-pack performance today despite a solid recovery in WTI, following yesterday’s CPI-induced underperformance.
- USDCAD is currently ~1.325 (+0.4%) having earlier topped out at 1.3277 to stop short of firmer resistance at 1.3286 (20-day EMA).
- The technical set-up suggests the bounce off yesterday’s pre-CPI trend low of 1.3117 could be corrective with the trend outlook remaining bearish, but a breach of the 20-day EMA could easily open 1.3355 (Jun 15 high).
- One factor that could limit a further bounce for the pair is a sizeable $1.055B of expiry at 1.3150 with tomorrow’s NY cut. It will however follow second tier domestic releases of the CFIB survey and the lagged SEPH report plus potentially more of note the third release of US GDP and initial claims.
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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