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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 steps solidly lower, reversing a 25 pip higher after the US opening bell with a more than 75 pip drop to a latest session low of 1.3414, starting before and continuing after stronger than expected US existing home sales.
- It marks a more notable reversal of yesterday’s clearance of resistance at the 50-day EMA of 1.35 but doesn’t yet fully retrace the push higher after Wednesday’s collection of weak US data sparked a risk sell-off in equities instead of a rate relief rally.
- Still downside scope from a technical perspective, with support at 1.3322 (Jan 13 low), but e-mini S&P for now remains relatively restrained at +0.6% and might need to see more upward momentum to drive USDCAD much lower.
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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