Free Trial

USDCAD Off Latest Highs With Boost To Risk Sentiment

CANADA
  • USDCAD has pulled back to circa 1.387 with the lift in the S&P e-mini as equities benefit from lower real yields helped by the Treasury Refunding Announcement.
  • It’s off joint highs of 1.3892 from earlier today and yesterday, the latest clearance of resistance with the next notable level seen at 1.3977 (Oct 13, 2022 high). Technical trends suggest bulls remain in the driving seat, but a continued lift in risk sentiment could see a push closer to support at 1.3790 (Oct 26 low).
  • Still to come before the FOMC later, Canada PMI before US final PMIs, JOLTS and ISM mfg. No notable FX option expiry for today’s NY cut at nearby strikes.

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.