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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 has poked to new session lows of 1.3545 in a renewed push lower having earlier dropped to ~1.356 in a move buoyed by S&P E-minis close to session highs.
- It's ending the week close to where it started it after a sizeable pivot off today's early highs of 1.3668, in turn following a swift move away from oversold conditions for the pair in the prior week - see chart.
- It sees the pair nearer support at 1.3527 (20-day EMA) after which lies 1.3473 (Apr 21 low).
- Earlier, CAD monthly GDP data didn’t really move the dial considering reliability concerns of the advance reading and differences with the quarterly data, but for what it’s worth are tracking close to the BoC’s latest forecast for Q1.
- Next week’s highlight for the local docket is Friday’s employment report after an on balance stronger than expected Feb report with the u/e rate holding close to series lows.
Note chart showing simple moving averages vs exponential in textSource: 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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