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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 has continued to see upward momentum through the second half of the session with e-mini S&P still hovering close to session lows, currently at 1.349 (+0.75%).
- CAD sits bottom of the majors on the day, closely followed by other risk-sensitive peers in AUD and NOK.
- The ~140 pip increase off overnight lows has pushed the pair close to resistance at the 50-day EMA of 1.3502 in a sharp reversal of the short-term bearish threat previously seen. Continued upside could open 1.3665 (Jan 6 high).
- However, from a macro perspective ahead of next week’s BoC decision, the pair still trades more than 1% lower than the circa 1.365 heading into the last decision, helped by the strength in the latest labour market report.
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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