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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
- Note that with USDCAD having pushed through two supports today and currently hovering close to mid-Feb lows at almost 1.334, the 14-day RSI is nudging oversold territory for the pair at 31 or the lowest since Oct’21.
- It tallies with CFTC CAD net shorts of -35% OI being the most extended since 2019 (as of Apr 4).
- It does however offer an interesting contrast with longer-term real trade-weighted performance, which despite the C$ real effective exchange rate appreciating from mid-March levels is still 2% below its five-year average and 4% below its ten-year average.
- The building up of net shorts could be targeting a further growth rotation towards Asia, building on a prior trend when comparing relative performance of the Aussie dollar real effective exchange rate over the past six months.
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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