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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 +0.35% at 1.2994 with CAD seeing solid performance to relative other majors, both high growth beta and otherwise in a session that’s seen it twice failed to hold a breach of 1.30 for levels last seen in mid-July.
- The cross is relatively unchanged over the US session, with oil unwinding an earlier fall but on the flip side the Can-US front-end yield differential being trimmed slightly to a still high +17bps compared to recent weeks, in turn offering some pushback to broad USD strength that sees the USD index on track to close at five-week highs.
- Having earlier cleared key short-term resistance at 1.2985 (Aug 5 high), it opens 1.3025 (Jul 18 high) with 1.3135 (Jul 15 high) after that.
- Ahead to next week, a light Canadian schedule sees US data a potential driver before Powell at Jackson Hole on Fri Aug 26 that will likely dominate risk sentiment.
USDCAD (white) and Can-US yield differential (blue)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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