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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 has seen some further upward pressure ahead of US GDP/PCE Q4 revisions plus also the CAD SEPH Dec release and current account for Q4.
- It briefly hit 1.3606, having cleared the bull trigger at 1.3586 (Feb 13 low) for a fresh YtD high, before quickly slipping 25 pips to ~1.358 at typing. We see next resistance at 1.3623 (Fibo retrace of Nov 1 – Dec 27 bear leg).
- Citi note that “CAD interbank volumes were almost 2x the London morning average, according to our eTrading desk” attributed to a break of the 100d MA. “Ex-month end, the two key events this week are PCE/CAD GDP - our NY trader thinks participation could pick up if we test/break 1.36, otherwise, interest will remain on the lighter side while the range persists.”
- Despite the push higher for the pair, CAD outperforms high beta peers owing to USD strength.
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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