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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 is heading towards the end of the week holding its push back above 1.32, at very similar levels to last week’s close after the U.Mich beat.
- Today’s driver was soft retail sales, with CAD swinging from near the top of G10 FX having resisted earlier USD strength, to only seeing gains against JPY post BoJ sources stories and Antipodeans after the latter’s large gains yesterday.
- USDCAD’s high of 1.3226 met resistance at the 20-day EMA of 1.3224, further supported by WTI climbing 1.5% and equities on balance holding higher. Having hovered within 10-15 pips of this level since, a stronger push higher could open 1.3304 (Jul 10 high).
- Next week sees a dearth of local releases until Wednesday’s BoC minutes.
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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