Free Trial

USDCAD Reverses CPI Dip But GoCs Continue To Plum New Lows

CANADA
  • USDCAD has reversed its post-CPI decline with continued USD strength post retail sales.
  • At 1.3457, it’s off a new low of 1.3404 which didn’t trouble support at 1.3363 (May 11 low).
  • CAD still outperforms on the day though, the only major currently eeking out gains vs the US dollar.
  • There’s been no let up in GoCs though, which continue to extend lows across the curve for a sizeable sell-off, led by the front-end with 2YY +13bps (+12bps since CPI/US retail sales) vs +7bps for Tsys (+7bps).

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.