MNI BRIEF: China CPI Expected To Rise Moderately - NBS

MNI BRIEF: China Aug Output, Investment Hit Lowest Of The Year

MNI: PBOC Net Injects CNY138.7 Bln via OMO Saturday

CHINA AUG INDUSTRIAL OUTPUT +4.5% Y/Y VS MEDIAN +4.6% Y/Y: NBS

CHINA PBOC CONDUCTS CNY138.7 BLN VIA 7-DAY REVERSE REPOS SAT

MNI BRIEF: Turkish Central Bank Sees Further Disinflation

EZ/UK Bond Supply Calendar: Slovakia Auction, BoE APF on Monday

MNI BRIEF: China Aug M1 Drops Further To Hit Record Low

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCAD Sitting Close To Recent Lows With BoC Ahead

CANADA
  • USDCAD sits less than 15 pips of yesterday’s low, little changed on the day at 1.2642 after unwinding an earlier move higher as CAD resists USD strength for a second day.
  • The cross has recently cleared both the 20- and 50-day EMAs and cleared 1.2660 (61.8% retrace of the Apr5–May12 bull run). It next eyes 1.2629 (yday low), clearance of which could potentially open 1.2562 (76.4% retrace of the same run).
  • Risk-sentiment driven flows dominate and likely continue to do so following the BoC decision but as noted in the MNI BoC Preview, some analysts see a constructive outlook for CAD over the longer term.
  • Barclays see USDCAD grinding lower over the medium-term, ING potential for market instability extending into the summer to keep the pair near 1.27-1.28 before a break below 1.25 in the latter part of the year, and BofA a year-end forecast of 1.23.
BulletMarketsForeign Exchange BulletsHomepage Bank of Canada Market News

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.