Free Trial

USDCAD Pulls Back After Key Resistance Breach

CANADA
  • S&P e-mini moving off intraday lows helped USDCAD pull back from earlier clearance of key resistance at 1.3838 (Sep 30 high) in a move supported by oil extending yesterday's losses.
  • Currently 1.3791 but the intraday high of 1.3855 confirms resumption of the technical broader uptrend and opens 1.3896 (3.00 proj of the Aug 25-Sep 7-13 price swing)
  • Little change in 2Y Can-US yield diffs after holiday re-opening, towards the narrowest it’s been post-Sep FOMC but still -26.5bps.

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.