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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 at 1.3786 has climbed further today as part of continued USD gains, touching a high of 1.3793. CAD outperforms high beta peers, although to less extent than yesterday.
- The technical trend is higher for the pair, with moving average studies in a bull-mode position and a bull trigger at 1.3899 (Nov 1 high).
- In contrast, a Reuters poll of 36 foreign exchange analysts through Nov. 3-7 saw the Canadian dollar strengthening 2.3% to 1.345 per U.S. dollar in three months (vs 1.340 in an October poll). This decline in USDCAD is then seen building to 1.30 over a year (vs 1.29 in October).
- Today sees building permits and the BoC minutes on the local docket (plus 5Y supply) whilst further heavy Fedspeak including Powell headlines the USD leg.
Source: USDCAD
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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