Free Trial

USDCAD Move Off 200-dma Supported By China Aggregate Financing Miss

CANADA
  • An intraday rise in USDCAD has continued to gain traction ever since notably softer than expected China aggregate financing, although CAD sees rare outperformance vs other majors despite oil sliding after a recent underwhelming run.
  • An intraday swing of +0.35% sees USDCAD +0.15% at 1.2784 having earlier probed support at the 200-dma of 1.2744. It’s still just within yesterday’s range though and remains off resistance at 1.2863 with a breach of 1.2985 (Aug 5 low) required to reinstate a bullish theme after the recent slide.
  • Largest near-by option expiries for today’s cut-off sit at 1.2700 (1.44B) and 1.2800 (0.97B).

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.