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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
- Another extension in USD weakness sees USDCAD push to new lows of 1.3105 having earlier cleared the bear trigger drawn off the late June low of 1.3117.
- Oil-tied currencies already underpinned by the rise in Brent crude back above the $80/bbl level for the first time since early May, have received another tailwind from the protests in Libya now halting its Sahara oil field.
- CAD still heavily underperforms all majors except for EUR though, with its linkages to the US weighing further after yesterday’s soft CPI print. CAD’s own June CPI release lands on Tue, after its May report showed some progress on the month but not enough in trend terms to stop the BoC from hiking yesterday.
- USDCAD support seen at 1.3084 (1.618 proj of the Apr 28 - May 8 - May 26 price swing) before 1.2992 (50% retrace of 2021 - 2022 upleg).
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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