Free Trial
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
- After GoCs initially pared outperformance to Tsys, the Can-US 2YY differential has more recently pushed back to session lows of -36bps, a 6.5bp decline since the decision. GoC yields sit -2bps vs Tsys +5bps on the day.
- The BoC rate path is only slightly lower, with BoC-dated OIS implying 15bp of cumulative cuts for April and a little over 100bps of cuts to year-end. CORZ3/Z4 meanwhile sits at -111bps vs -108bps pre-decision.
- This relative rate backdrop, combined with equity and crude oil futures slipping in recent trade, sees sharp upward pressure in USDCAD, now touching 1.352 (+90 pips since the decision).
- The swift reversal of what had been deemed a shallow corrective pullback sees the pair move closer to resistance seen at 1.3542 (Jan 17 high). Clearance could open 1.3608 (Dec 13 high)
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok