MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCAD Holds Most Of Latest Step Towards Bull Trigger With BoC Up

CANADA
  • USDCAD is currently 10-15 pips below the new recent high of 1.3800 seen overnight.
  • It extended yesterday’s breach of prior highs at 1.3775 and cleared resistance at 1.3792 (Jun 11 high) for another strong step towards the bull trigger at 1.3846 (Apr 16 high).
  • Next meaningful support meanwhile isn’t until a key 1.3590 (May 16 low).
  • The 14-day RSI at 66.4 isn’t yet in overbought territory although CAD net shorts were at historical extremes last week (47% of open interest) in positioning that we feel could limit near-term sensitivity to any dovish surprises and at risk that the Bank is less dovish than some expect in the upcoming decision.
  • Whilst there isn’t any particularly heavy expiry at single strikes, the pipeline is crowded to capture post-BoC price action with the most salient strikes at: 1.3785-00 (C$277mln), 1.3730-50 (C$613mln) and 1.3680-00 (C$431mln).
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.