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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 sits just +0.03% at 1.2535 with some fluctuation since the US open to a low of 1.2518 but on the whole consolidates yesterday’s decline below recent support at 1.2562.
- The pair is down more than 4% since the May 12 high with conditions still seen as bearish, moving closer to support eyed at 1.2459 (Apr 21 low).
- With the pair heavily tied to risk sentiment, tomorrow's ECB decision could have as much impact as the following release of the BoC's Financial System Review.
- CFTC net spec positioning saw net shorts trimmed prior to last week's BoC and were likely trimmed further afterwards, but continued declines in the pair could well encourage a rebuilding in short positions.
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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