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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 drifted lower to 1.3611 for a 30 pip decline off session highs, back closer to its overnight low of 1.3590.
- The trend pullback for the pair has seen clearance of support at 1.3637 (50-day EMA) and 1.3610 (May 3 low). A clearer break of these levels would threaten the bullish theme and instead signal scope for a deeper retracement with further support at 1.3547 (Apr 9 low).
- The pullback has been relatively steady though, still a little way from triggering oversold territory on a 14-day RSI basis (43 currently).
- Tomorrow’s option expiry tilts higher, with $827m at 1.3675 plus $511m at 1.3725 and $584m at 1.3735. There is limited data with firm domestic focus on Tuesday’s CPI release.
USDCAD pullback doesn't yet test oversold conditionsSource: 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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