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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.
CANADA
- USDCAD is heading later into the session pushing back closer to lows of 1.3455.
- Gains in equity futures after the cash S&P 500 touched record highs are offsetting the impact from oil having more than reversed earlier increases.
- It’s back at levels seen after stronger than expected Canadian core CPI before the hawkish reaction to the Fed’s Waller helped lift the pair north of 1.35.
- Technical analysis meanwhile suggests bulls remain in the driver’s seat for the pair having previously cleared the 50-day EMA. Resistance is seen at 1.3542 (Jan 17 high) whilst support is seen at 1.3407 (20-day EMA).
- CAD outperforms all majors except AUD and NOK today, with the day's moves seeing the loonie narrow the week's losses on a trade-weighted basis to -0.2%.
Support seen at 20-day EMA, which marked 1.3407 as of yesterday's close. 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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