Free Trial

USDCAD Pulls Back From Latest High of 1.34 In Civic Holiday Trade

CANADA
  • USDCAD at 1.337 keeps to the lower end of a 48-pip range today for its tightest since Jul 19, on balance drifting lower through the session as the S&P e-mini firmed for a current +0.8% gain.
  • It earlier touched a high of 1.3400 to push through Friday's post-payrolls spike to 1.3394 as it cements a move above a key resistance at 1.3387 (Jul 7 high) to open 1.3427 (Jun 7 high).
  • CAD trades at the higher end of the G10 FX pack on the day, not touching extremes with local markets shut for Civic Holiday.
  • There’s not much by way of local drivers ahead this week, with tomorrow’s docket headlined by international trade.

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.