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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 mostly headed so far lower today, nudging new lows of 1.3709 as it extends the move away from last week’s post-CAD CPI & Powell-induced high of 1.3846 that saw it firmly in overbought territory (and now an initial resistance level).
- Beyond intraday lows, support is seen at 1.3667 (20-day EMA).
- This prior move to overbought conditions chimes with latest CFTC data which showed another large build in net shorts on Tuesday (Apr 16). At -34.9% of open interest, the balance surpassed November’s low of -34.2% for the largest net short position since Jan 2019.
- This partial reversal remains at play today more broadly, with CAD only behind AUD and NZD in top performers across G10 FX.
Support levels at 20- and 50-day EMAsSource: 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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