Free Trial

USDCAD Helped Lower By European Headlines/Data

CANADA
  • USDCAD touches new sessions lows of 1.8245 (-0.24%) as confirmation of weak German inflation and prior headlines that ECB PEPP reinvestment don’t have targets or thresholds for now helped extend a move lower.
  • Technicals point to a short-term bullish reversal in the pair with yesterday seeing a doji pattern that could end the recent corrective pullback. Support is eyed at 1.2819 (Jun 28 low) with resistance at 1.2917 (Jun 27 high).
  • Fundamentals offer little support in either direction, with relatively small short-term Can-US yield differentials (+5bps) and the CAD REER close to its 10Y average.

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.