Free Trial

USDCAD Holding At/Slightly Below 50-Day EMA Support

CANADA
  • S&P E-mini and WTI strengths sees USDCAD at 1.2962, low of 1.2954 vs 50-d EMA of 1.2964.
  • Almost zero CAD support from the Can-US 2YY differential, which has quickly unwound a small post-open widening to leave it at just 3.5bps.
  • The session’s continuation of a corrective pullback for the pair has opened key near-term support at 1.2895 (Aug 25 low) whilst resistance sits at 1.3015 (Sep 9 high).

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.