Free Trial

USDCAD Mid-Pack and Mid-Range Pre BOC

  • USDCAD trades little changed on the day around 1.337, with CAD mid-pack of majors.
  • Awaiting the BoC, the pair sits just off the middle of this week’s narrow range from 1.3342-1.3418.
  • The lower end forms initial support after which lies 1.3322 (Jan 13 low), whilst to the upside sits resistance at 1.3452 (20-day EMA).
  • Last week’s CFTC data after both the BoC surveys and CPI showed net speculative positioning just off recent max net shorts at 20%.

Source: Bloomberg

To read the full story



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.