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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 has shunted to a session low of 1.3584 before bouncing 10 pips, down from a high of 1.3651 seen prior to stronger than expected CAD GDP for both Q1 and the April flash.
- GDP helped kickstart a move lower which continued with noise as the Chicago PMI missed and then with this latest shift lower coming once the US JOLTS beat had been digested.
- However, overnight strength in the pair and the generally bullish run means it only falls back into yesterday’s range, the twin lows of which at 1.3567/68 suggested some mild support before perhaps firmer support at the 20-day EMA of 1.3539.
- The S&P E-mini remains under pressure but CAD is second only to NOK amongst majors today after WTI pared a large part of earlier losses.
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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