Free Trial

USDCAD Nearing Post-FOMC Lows

CANADA
  • USDCAD sits near lows of 1.3657 touched in the middle of Powell’s press conference before they reversed the 80 pip decline.
  • At 1.3666 for -0.5% on the day, CAD lags other high beta majors such as the NOK after a hawkish leaning Norges Bank and the Antipodeans, but otherwise outperforms on the day.
  • A blank docket sees second tier US data releases in the driving seat plus of course any further bank headlines including potentially from Yellen.
  • A continued push lower could open support at 1.3644 (Mar 21 low) after lies the 50-day EMA of 1.3584.

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.