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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 unwound 70pips of today’s outsized gains that saw it clear three resistance levels, with positioning into month-end potentially helping exacerbate the swing.
- Currently sitting at 1.3576 (+0.6%) off a high of 1.3646, it is still some 70 pips higher since a mixed GDP report, with FI seemingly trading the stronger headline figure and CAD the weaker underlying details. The latter helped build on earlier momentum from potential flows linked to RBC plans to purchase of HSBC Canada.
- The session high of 1.3646 forms initial resistance after which could lie 1.3691 (61.8% retrace of Oct-Nov pullback), with Powell plus US GDP/ADP in focus tomorrow with a light Canadian docket.
Source: 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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