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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 closing the week with solid downward momentum helped by an uptick in the e-mini S&P.
- At 1.3386 (-0.6%), it comes close to fully unwinding the jump higher on Wednesday’s weak US data-induced risk-off.
- At -0.6% on the day, CAD lags antipodeans after yesterday’s outperformance but otherwise outperforms on other crosses.
- USDCAD potentially sees more notable support in the low 1.33s, with 1.3322 (Jan 13 low) and 1.3317 (Nov 24/25 low).
- From a macro view ahead of next week’s BoC, the pair trades below the ~1.365 near the Dec 7 decision and ~1.36 from the Oct 26 meeting with the last MPR, offering modest disinflationary FX pressures on the fresh forecasts for the upcoming MPR.
USDCAD and timing of past BoC decisionsSource: 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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