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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
- The sharp reversal in USD strength on the triple hit of misses for the US PMI, Richmond Fed and new home sales has seen USDCAD slide to a session low of 1.294 (-0.9%), back at late Thursday levels.
- It punched through support at yesterday’s low of 1.2972 (Aug 22 low), opening firmer support at the 20-day EMA of 1.2913.
- Proximity to the US hurts CAD on crosses though, switching to underperforming other commodity-tied majors today with AUDCAD +0.3% and back to Aug 17 highs after mixed sessions in the interim. That’s against a backdrop of latest CFTC non-commercial positioning showing the highest net long differential in CAD to AUD as % OI since at least 2000 (+18% CAD, -37% AUD).
USDCADSource: 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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