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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 pulled back ~20 pips after further dollar gains overnight saw the pair touch a high of 1.35 having cleared resistance at the 50-day EMA of 1.3454.
- Next resistance is seen at 1.3520 (Dec 14 high) and 1.3538 (50% retrace of Nov 1 – Dec 27 bear leg), whilst support is seen at 1.3343 (Jan 12 low).
- CAD again outperforms high beta peers on the day amidst broader USD strength, although sizeable losses vs the USD mean it has still depreciated more than 1% on a trade-weighted basis since the start of the year.
- Housing starts provide initial data at 0815ET after yesterday’s sizeable bounce in home sales. Greater focus is on CPI at 0830ET for the last major steer before next week’s BoC decision and likely playing a key role in guiding market expectations of the tone/forecasts to expect. A first cut is currently fully priced for April.
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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