Free Trial

USDCAD Eyes 1.35 Again With Equities & Oil Under Pressure

CANADA
  • USDCAD trades close to earlier highs of 1.3496 seen after a marked step lower in the S&P E-mini and front WTI also slipping below $82/bbl.
  • The move sees the short-term bullish conditions continue to play out, taking the pair closer to 1.3502 (Aug 8 low) again which lies 1.3523 (76.4% retrace of May 26-Jul 14 downleg).
  • Largest option expiry is again skewed lower for the pair at the NY cut, with the largest $622m at 1.3400.
  • Ahead sees CAD CPI and US retail sales as part of a heavier US docket – see CPI pointers in yesterday's bullet, here.

Source: Bloomberg

To read the full story

Close

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.