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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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Free AccessUSDCAD Resumes Decline, BoC Minutes & FOMC Ahead
- USDCAD has recently nudged to session lows of 1.3424 but remains within yesterday’s wide range, with strong CAD CPI driving a low of 1.3381 before it ultimately recovered to close out the session at ~1.344.
- Today’s decline comes with broader USD weakness as equities lift, whilst WTI extending yesterday’s second half decline weighs on CAD on crosses after recent outperformance.
- The bear cycle is seen remaining in play with support at that 1.3381 after which lies 1.3323 (61.8% retrace of Jul 14 – Sep 7 bull leg).
- Overnight, Unifor reached a tentative deal with Ford on a 3-year national contract, preventing its 5.6k members from striking at every one of Ford’s facilities in Canada.
- Ahead, the BoC minutes are released at 1330ET in its customary position just 30mins ahead of the FOMC decision that likely dampens reaction to any surprises.
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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.