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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 sees a further increase for the day with the latest step lower in the S&P E-mini in belated reaction to FRC shares sliding on earlier asset sales headlines.
- The pair touched a high of 1.3639, pushing further above resistance at 1.3617 (Mar 29 high) and eyeing 1.3648 (61.8% retrace of Mar 10 – Apr 14 bear leg) as it continues a significant push off oversold levels from the Apr 14 low of 1.3302. A further concerted push higher could open 1.3695 (Mar 28 high).
- Tomorrow sees preliminary US durable goods for March (0830ET) and the BoC minutes for the Apr 12 decision (1330ET). The latter might however struggle to build on Macklem already saying that BoC officials discussed the need for a potential hike whilst being far too early to consider rate cuts.
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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