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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 continued to ramp higher, sitting +0.9% at 1.2981, with yesterday’s acceleration in Canadian inflation expectations across both business and consumer surveys providing little support for CAD in the face of USD strength (only modestly outperforming AUD & NZD).
- It has cleared initial resistance at 1.2966 (Jul 1 high) and closes in on 1.3017 (Jun 23 high), after which could expose a bull trigger at 1.3079 (May 17 high).
- CFTC net spec positions as of Jun 28 showed a modest build in CAD net longs, touching 6.4% of OI compared to net shorts of -31% and -13% for AUD and NZD out of other high beta majors.
- Data today limited to US factory orders and Canadian building permits imminently, likely overshadowed by the broader risk-off moves.
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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