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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
- The FOMC minutes helped continue a prior move lower for USDCAD to step back from session highs but still sit +0.4% at 1.2898.
- A widening in the Can-US yield differential on the day (2Y +9bps, 10Y -5bps) and a bounce in oil has helped trim gains, although correlation with the latter is fading again to almost -0.30.
- The pair falls back into its recent range and the 1.29 mark seen after WTI most recently fell below $90/bbl, although it did fleetingly clear resistance at 1.2934 (Aug 15 high) by two pips, a more sustained break of which could open short-term key resistance at 1.2985 (Aug 5 high).
- Potential risk factors from a variety of second tier data releases tomorrow including, on the US side, initial claims for a payrolls reference week, activity surveys after the huge miss in August Empire and existing home sales, plus Canadian industrial prices.
USDCADSource: 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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